Piper Sandler Lowers CVS Health (NYSE:CVS) Price Target to $64.00

CVS Health (NYSE:CVS) had its price objective decreased by equities research analysts at Piper Sandler from $72.00 to $64.00 in a report released on Monday,Benzinga reports. The brokerage currently has an “overweight” rating on the pharmacy operator’s stock. Piper Sandler’s target price would indicate a potential upside of 8.75% from the company’s current price.

Several other research analysts also recently issued reports on the company. Mizuho reduced their price objective on CVS Health from $73.00 to $66.00 and set an “outperform” rating on the stock in a report on Thursday, October 24th. StockNews.com lowered CVS Health from a “hold” rating to a “sell” rating in a research note on Thursday, November 14th. Evercore ISI lifted their price objective on CVS Health from $62.00 to $75.00 and gave the stock an “outperform” rating in a research report on Tuesday, October 8th. TD Cowen upgraded 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 report on Friday, October 4th. Finally, Wells Fargo & Company upgraded shares of CVS Health from an “equal weight” rating to an “overweight” rating and lifted their price target for the stock from $60.00 to $66.00 in a research report on Monday, November 18th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and thirteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, CVS Health currently has a consensus rating of “Moderate Buy” and an average target price of $70.61.

CVS Health Price Performance

Shares of CVS stock opened at $58.85 on Monday. The company has a debt-to-equity ratio of 0.80, a current ratio of 0.80 and a quick ratio of 0.59. The stock’s fifty day simple moving average is $59.21 and its 200 day simple moving average is $58.63. CVS Health has a one year low of $52.71 and a one year high of $83.25. The firm has a market cap of $74.06 billion, a price-to-earnings ratio of 14.94, a P/E/G ratio of 0.98 and a beta of 0.55.

CVS Health (NYSE:CVS) last released its quarterly earnings results on Wednesday, November 6th. The pharmacy operator reported $1.09 EPS for the quarter, beating analysts’ consensus estimates of $1.08 by $0.01. CVS Health had a net margin of 1.36% and a return on equity of 10.72%. The firm had revenue of $95.43 billion for the quarter, compared to analyst estimates of $92.72 billion. During the same period in the previous year, the business earned $2.21 earnings per share. The company’s revenue for the quarter was up 6.3% compared to the same quarter last year. On average, analysts expect that CVS Health will post 5.43 earnings per share for the current fiscal year.

Institutional Trading of CVS Health

Several institutional investors and hedge funds have recently bought and sold shares of CVS. Pzena Investment Management LLC lifted its stake in shares of CVS Health by 132.9% during the 2nd quarter. Pzena Investment Management LLC now owns 12,936,388 shares of the pharmacy operator’s stock worth $764,023,000 after buying an additional 7,382,931 shares during the last quarter. Hotchkis & Wiley Capital Management LLC grew its position in CVS Health by 34.8% during the third quarter. Hotchkis & Wiley Capital Management LLC now owns 11,897,034 shares of the pharmacy operator’s stock worth $748,085,000 after buying an additional 3,071,613 shares in the last quarter. State Street Corp increased its stake in CVS Health by 3.6% during the 3rd quarter. State Street Corp now owns 56,527,909 shares of the pharmacy operator’s stock worth $3,554,475,000 after acquiring an additional 1,989,066 shares during the period. TOMS Capital Investment Management LP acquired a new position in CVS Health in the 3rd quarter valued at $121,987,000. Finally, Pathway Financial Advisers LLC lifted its position in shares of CVS Health by 5,864.2% during the 3rd quarter. Pathway Financial Advisers LLC now owns 1,730,343 shares of the pharmacy operator’s stock valued at $108,804,000 after acquiring an additional 1,701,331 shares during the period. 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.