Truist Financial Forecasts Strong Price Appreciation for CVS Health (NYSE:CVS) Stock

CVS Health (NYSE:CVS) had its target price boosted by equities researchers at Truist Financial from $60.00 to $76.00 in a note issued to investors on Thursday,Benzinga reports. The firm presently has a “buy” rating on the pharmacy operator’s stock. Truist Financial’s target price would suggest a potential upside of 20.20% from the company’s current price.

A number of other equities analysts also recently commented on the stock. Deutsche Bank Aktiengesellschaft upgraded shares of CVS Health from a “hold” rating to a “buy” rating and set a $66.00 target price on the stock in a research note on Tuesday, December 3rd. Edward Jones upgraded CVS Health from a “hold” rating to a “buy” rating in a report on Thursday, January 30th. TD Cowen upped their target price on CVS Health from $73.00 to $80.00 and gave the stock a “buy” rating in a report on Monday, November 25th. Barclays raised their price target on CVS Health from $71.00 to $73.00 and gave the company an “overweight” rating in a research note on Thursday. Finally, Piper Sandler lowered their price objective on shares of CVS Health from $72.00 to $64.00 and set an “overweight” rating for the company in a research note on Monday, November 25th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and seventeen have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $69.89.

CVS Health Trading Up 15.0 %

Shares of NYSE CVS opened at $63.23 on Thursday. CVS Health has a fifty-two week low of $43.56 and a fifty-two week high of $80.75. The company has a debt-to-equity ratio of 0.80, a quick ratio of 0.59 and a current ratio of 0.80. The company has a market cap of $79.57 billion, a price-to-earnings ratio of 16.05, a PEG ratio of 0.60 and a beta of 0.61. The business’s 50 day moving average price is $50.71 and its 200-day moving average price is $55.94.

CVS Health (NYSE:CVS) last released its earnings results on Wednesday, February 12th. The pharmacy operator reported $1.19 earnings per share for the quarter, topping the consensus estimate of $0.89 by $0.30. CVS Health had a return on equity of 10.72% and a net margin of 1.36%. On average, sell-side analysts expect that CVS Health will post 5.14 earnings per share for the current year.

Institutional Investors Weigh In On CVS Health

Several institutional investors have recently added to or reduced their stakes in the business. MidAtlantic Capital Management Inc. purchased a new position in shares of CVS Health in the 3rd quarter valued at approximately $25,000. Livelsberger Financial Advisory purchased a new position in shares of CVS Health in the third quarter worth $31,000. Legacy Investment Solutions LLC acquired a new stake in shares of CVS Health during the third quarter worth $31,000. Reston Wealth Management LLC purchased a new stake in shares of CVS Health during the third quarter valued at $32,000. Finally, Ridgewood Investments LLC raised its stake in CVS Health by 255.7% in the 4th quarter. Ridgewood Investments LLC now owns 626 shares of the pharmacy operator’s stock worth $28,000 after acquiring an additional 450 shares during the last quarter. Institutional investors and hedge funds own 80.66% of the company’s stock.

CVS Health Company Profile

CVS Health Corporation provides health solutions in the United States. It operates through Health Care Benefits, Health Services, and Pharmacy & Consumer Wellness segments. The Health Care Benefits segment offers traditional, voluntary, and consumer-directed health insurance products and related services.