CVS Health (NYSE:CVS) Stock Rating Reaffirmed by Truist Financial

CVS Health (NYSE:CVS)‘s stock had its “buy” rating restated by research analysts at Truist Financial in a research note issued on Thursday, Benzinga reports. They presently have a $66.00 price objective on the pharmacy operator’s stock, down from their prior price objective of $90.00. Truist Financial’s target price points to a potential upside of 18.07% from the stock’s previous close.

A number of other research firms have also recently weighed in on CVS. Leerink Partnrs reaffirmed an “outperform” rating on shares of CVS Health in a report on Monday, February 26th. StockNews.com lowered shares of CVS Health from a “buy” rating to a “hold” rating in a research report on Thursday, February 15th. Wells Fargo & Company decreased their target price on shares of CVS Health from $83.00 to $76.00 and set an “equal weight” rating for the company in a research report on Monday, April 8th. SVB Leerink reiterated a “market perform” rating and issued a $60.00 target price (down previously from $87.00) on shares of CVS Health in a research report on Wednesday. Finally, Piper Sandler raised their price objective on shares of CVS Health from $93.00 to $94.00 and gave the company an “overweight” rating in a research report on Friday, March 15th. Eight equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $80.35.

CVS Health Stock Performance

Shares of NYSE:CVS traded up $0.75 on Thursday, reaching $55.90. 23,946,075 shares of the company’s stock were exchanged, compared to its average volume of 12,498,538. The firm has a market capitalization of $70.18 billion, a price-to-earnings ratio of 9.82, a PEG ratio of 0.86 and a beta of 0.56. CVS Health has a fifty-two week low of $53.70 and a fifty-two week high of $83.25. The business’s 50-day moving average is $72.77 and its two-hundred day moving average is $73.26. The company has a quick ratio of 0.63, a current ratio of 0.81 and a debt-to-equity ratio of 0.78.

CVS Health (NYSE:CVS) last released its quarterly earnings data on Wednesday, May 1st. The pharmacy operator reported $1.31 earnings per share for the quarter, missing analysts’ consensus estimates of $1.69 by ($0.38). CVS Health had a return on equity of 13.53% and a net margin of 2.03%. The firm had revenue of $88.44 billion during the quarter, compared to analyst estimates of $89.33 billion. During the same period last year, the business earned $2.20 EPS. The firm’s revenue was up 3.7% on a year-over-year basis. As a group, equities research analysts forecast that CVS Health will post 7.03 EPS for the current year.

Insider Buying and Selling at CVS Health

In other CVS Health news, EVP Prem S. Shah sold 29,473 shares of the stock in a transaction that occurred on Friday, February 16th. The stock was sold at an average price of $76.95, for a total transaction of $2,267,947.35. Following the transaction, the executive vice president now owns 39,765 shares in the company, valued at $3,059,916.75. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In related news, Director Edward J. Ludwig acquired 1,000 shares of the stock in a transaction dated Thursday, May 2nd. The shares were acquired at an average price of $53.88 per share, for a total transaction of $53,880.00. Following the completion of the purchase, the director now owns 21,630 shares in the company, valued at approximately $1,165,424.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Prem S. Shah sold 29,473 shares of CVS Health stock in a transaction on Friday, February 16th. The stock was sold at an average price of $76.95, for a total transaction of $2,267,947.35. Following the sale, the executive vice president now owns 39,765 shares in the company, valued at approximately $3,059,916.75. The disclosure for this sale can be found here. Corporate insiders own 0.24% of the company’s stock.

Institutional Investors Weigh In On CVS Health

Institutional investors have recently bought and sold shares of the business. Atticus Wealth Management LLC boosted its stake in CVS Health by 149.0% during the fourth quarter. Atticus Wealth Management LLC now owns 366 shares of the pharmacy operator’s stock worth $29,000 after buying an additional 219 shares in the last quarter. USA Financial Formulas lifted its holdings in shares of CVS Health by 573.2% during the fourth quarter. USA Financial Formulas now owns 377 shares of the pharmacy operator’s stock valued at $30,000 after acquiring an additional 321 shares during the period. Ables Iannone Moore & Associates Inc. bought a new position in shares of CVS Health during the fourth quarter valued at $32,000. Creekmur Asset Management LLC bought a new position in shares of CVS Health during the fourth quarter valued at $34,000. Finally, Steph & Co. lifted its holdings in shares of CVS Health by 192.0% during the first quarter. Steph & Co. now owns 438 shares of the pharmacy operator’s stock valued at $35,000 after acquiring an additional 288 shares during the period. Institutional investors and hedge funds 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.