CVS Health (NYSE:CVS) Given New $74.00 Price Target at Piper Sandler

CVS Health (NYSE:CVS) had its price target hoisted by analysts at Piper Sandler from $72.00 to $74.00 in a research note issued to investors on Friday,Benzinga reports. The brokerage currently has an “overweight” rating on the pharmacy operator’s stock. Piper Sandler’s price objective suggests a potential upside of 7.70% from the company’s current price.

CVS has been the subject of a number of other reports. Evercore ISI upped their price objective on CVS Health from $60.00 to $65.00 and gave the stock an “outperform” rating in a report on Monday, January 27th. Wells Fargo & Company increased their target price on CVS Health from $68.00 to $73.00 and gave the company an “overweight” rating in a report on Thursday, February 13th. Argus set a $77.00 target price on CVS Health in a report on Tuesday, February 18th. StockNews.com upgraded CVS Health from a “sell” rating to a “hold” rating in a report on Thursday, February 13th. Finally, Barclays increased their target price on CVS Health from $71.00 to $73.00 and gave the company an “overweight” rating in a report on Thursday, February 13th. Four equities research analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $70.39.

CVS Health Price Performance

CVS opened at $68.71 on Friday. The stock has a 50-day moving average price of $60.22 and a 200-day moving average price of $57.28. CVS Health has a 12-month low of $43.56 and a 12-month high of $80.75. The company has a current ratio of 0.81, a quick ratio of 0.60 and a debt-to-equity ratio of 0.80. The stock has a market capitalization of $86.63 billion, a P/E ratio of 18.77, a PEG ratio of 0.98 and a beta of 0.54.

CVS Health (NYSE:CVS) last posted its quarterly earnings data on Wednesday, February 12th. The pharmacy operator reported $1.19 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.89 by $0.30. CVS Health had a return on equity of 9.11% and a net margin of 1.24%. Equities analysts predict that CVS Health will post 5.89 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, SVP James David Clark sold 7,513 shares of the company’s stock in a transaction that occurred on Wednesday, March 5th. The stock was sold at an average price of $66.35, for a total value of $498,487.55. Following the sale, the senior vice president now owns 8,394 shares in the company, valued at $556,941.90. This represents a 47.23 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Michael F. Mahoney bought 30,000 shares of the business’s stock in a transaction on Tuesday, February 18th. The shares were acquired at an average price of $66.70 per share, for a total transaction of $2,001,000.00. Following the completion of the purchase, the director now owns 39,356 shares in the company, valued at approximately $2,625,045.20. The trade was a 320.65 % increase in their position. The disclosure for this purchase can be found here. 0.24% of the stock is currently owned by company insiders.

Institutional Trading of CVS Health

Institutional investors have recently added to or reduced their stakes in the business. Legacy Investment Solutions LLC purchased a new stake in CVS Health during the 3rd quarter valued at $31,000. Ridgewood Investments LLC boosted its stake in CVS Health by 255.7% during the 4th quarter. Ridgewood Investments LLC now owns 626 shares of the pharmacy operator’s stock valued at $28,000 after purchasing an additional 450 shares during the last quarter. Stonebridge Financial Group LLC purchased a new stake in CVS Health during the 4th quarter valued at $28,000. RPg Family Wealth Advisory LLC purchased a new position in shares of CVS Health in the 3rd quarter worth $40,000. Finally, Hopwood Financial Services Inc. purchased a new position in shares of CVS Health in the 4th quarter worth $29,000. 80.66% of the stock is currently owned by hedge funds and other institutional investors.

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.