Barclays Lowers CVS Health (NYSE:CVS) Price Target to $75.00

CVS Health (NYSE:CVS) had its target price reduced by stock analysts at Barclays from $82.00 to $75.00 in a report issued on Wednesday, Benzinga reports. The firm currently has an “overweight” rating on the pharmacy operator’s stock. Barclays‘s price target points to a potential upside of 33.67% from the company’s current price.

Other equities research analysts also recently issued research reports about the company. Evercore ISI upped their price objective on CVS Health from $62.00 to $75.00 and gave the company an “outperform” rating in a report on Tuesday, October 8th. Wells Fargo & Company upped their price target on CVS Health from $60.00 to $61.00 and gave the company an “equal weight” rating in a research note on Monday, August 12th. Cantor Fitzgerald reissued a “neutral” rating and set a $62.00 price objective on shares of CVS Health in a research note on Tuesday, October 1st. TD Cowen raised shares of CVS Health from a “hold” rating to a “buy” rating and upped their target price for the company from $59.00 to $85.00 in a research note on Friday, October 4th. Finally, Royal Bank of Canada reissued an “outperform” rating and issued a $68.00 price target on shares of CVS Health in a report on Wednesday, September 4th. Nine investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $74.58.

CVS Health Price Performance

CVS Health stock opened at $56.11 on Wednesday. The stock has a market cap of $70.44 billion, a price-to-earnings ratio of 9.86, a P/E/G ratio of 0.93 and a beta of 0.54. CVS Health has a 12-month low of $52.77 and a 12-month high of $83.25. The company has a quick ratio of 0.66, a current ratio of 0.86 and a debt-to-equity ratio of 0.83. The business’s 50-day simple moving average is $59.88 and its 200 day simple moving average is $60.17.

CVS Health (NYSE:CVS) last issued its quarterly earnings results on Wednesday, August 7th. The pharmacy operator reported $1.83 EPS for the quarter, topping the consensus estimate of $1.73 by $0.10. CVS Health had a net margin of 1.98% and a return on equity of 12.72%. The company had revenue of $91.23 billion during the quarter, compared to analysts’ expectations of $91.41 billion. During the same quarter in the previous year, the company earned $2.21 EPS. CVS Health’s revenue was up 2.6% on a year-over-year basis. As a group, research analysts anticipate that CVS Health will post 6.51 earnings per share for the current year.

Hedge Funds Weigh In On CVS Health

Several hedge funds have recently modified their holdings of CVS. Livelsberger Financial Advisory acquired a new position in CVS Health during the third quarter valued at approximately $31,000. Crewe Advisors LLC acquired a new stake in shares of CVS Health in the 1st quarter valued at approximately $40,000. Retirement Group LLC grew its stake in shares of CVS Health by 54.3% in the first quarter. Retirement Group LLC now owns 517 shares of the pharmacy operator’s stock valued at $41,000 after buying an additional 182 shares in the last quarter. Kathleen S. Wright Associates Inc. acquired a new position in CVS Health during the third quarter worth $33,000. Finally, First Community Trust NA raised its position in CVS Health by 116.2% during the second quarter. First Community Trust NA now owns 562 shares of the pharmacy operator’s stock worth $33,000 after acquiring an additional 302 shares in the last quarter. Institutional investors own 80.66% of the company’s stock.

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.