CVS Health (NYSE:CVS) Rating Increased to Buy at TD Cowen

CVS Health (NYSE:CVS) was upgraded by research analysts at TD Cowen from a “hold” rating to a “buy” rating in a research note issued on Friday, Marketbeat.com reports. The brokerage presently has a $85.00 price objective on the pharmacy operator’s stock, up from their previous price objective of $59.00. TD Cowen’s target price suggests a potential upside of 31.60% from the company’s previous close.

Several other analysts have also recently commented on CVS. Evercore ISI lowered their target price on shares of CVS Health from $65.00 to $62.00 and set an “outperform” rating for the company in a research note on Thursday, August 8th. Royal Bank of Canada reiterated an “outperform” rating and issued a $68.00 target price on shares of CVS Health in a research note on Wednesday, September 4th. Deutsche Bank Aktiengesellschaft decreased their price target on CVS Health from $64.00 to $63.00 and set a “hold” rating on the stock in a research note on Friday, August 9th. Wells Fargo & Company increased their price objective on shares of CVS Health from $60.00 to $61.00 and gave the stock an “equal weight” rating in a report on Monday, August 12th. Finally, Barclays lowered their target price on shares of CVS Health from $65.00 to $63.00 and set an “equal weight” rating for the company in a report on Thursday, August 8th. Ten investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $73.40.

CVS Health Price Performance

Shares of NYSE:CVS opened at $64.59 on Friday. CVS Health has a one year low of $52.77 and a one year high of $83.25. The stock has a market cap of $81.08 billion, a PE ratio of 11.35, a price-to-earnings-growth ratio of 0.81 and a beta of 0.54. The business’s fifty day moving average price is $58.60 and its two-hundred day moving average price is $61.47. The company has a debt-to-equity ratio of 0.83, a quick ratio of 0.66 and a current ratio of 0.86.

CVS Health (NYSE:CVS) last posted its quarterly earnings data on Wednesday, August 7th. The pharmacy operator reported $1.83 EPS for the quarter, topping analysts’ consensus estimates of $1.73 by $0.10. The firm had revenue of $91.23 billion during the quarter, compared to analysts’ expectations of $91.41 billion. CVS Health had a return on equity of 12.72% and a net margin of 1.98%. The firm’s quarterly revenue was up 2.6% compared to the same quarter last year. During the same quarter last year, the business posted $2.21 EPS. On average, analysts forecast that CVS Health will post 6.51 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in CVS. Ables Iannone Moore & Associates Inc. acquired a new position in CVS Health in the 4th quarter worth $32,000. Creekmur Asset Management LLC purchased a new position in CVS Health in the fourth quarter valued at about $34,000. Steph & Co. grew its stake in CVS Health by 192.0% during the 1st quarter. Steph & Co. now owns 438 shares of the pharmacy operator’s stock valued at $35,000 after purchasing an additional 288 shares in the last quarter. Kapitalo Investimentos Ltda purchased a new stake in CVS Health during the 4th quarter worth approximately $36,000. Finally, Scarborough Advisors LLC acquired a new position in shares of CVS Health in the 4th quarter valued at approximately $37,000. 80.66% of the stock is owned by institutional investors and hedge funds.

About CVS Health

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.