SVB Leerink Reiterates Market Perform Rating for CVS Health (NYSE:CVS)

CVS Health (NYSE:CVSGet Free Report)‘s stock had its “market perform” rating restated by stock analysts at SVB Leerink in a research note issued to investors on Wednesday, Marketbeat Ratings reports. They currently have a $60.00 price objective on the pharmacy operator’s stock, down from their previous price objective of $87.00. SVB Leerink’s price objective would indicate a potential upside of 8.79% from the company’s current price.

Several other brokerages have also issued reports on CVS. Cantor Fitzgerald restated an “overweight” rating and issued a $87.00 price objective on shares of CVS Health in a report on Wednesday, April 10th. Wells Fargo & Company reduced their price objective on shares of CVS Health from $83.00 to $76.00 and set an “equal weight” rating on the stock in a report on Monday, April 8th. Leerink Partnrs restated an “outperform” rating on shares of CVS Health in a report on Monday, February 26th. Royal Bank of Canada reduced their price objective on shares of CVS Health from $86.00 to $84.00 and set an “outperform” rating on the stock in a report on Thursday, February 8th. Finally, Piper Sandler increased their price target on shares of CVS Health from $93.00 to $94.00 and gave the stock an “overweight” rating in a research report on Friday, March 15th. Seven equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $80.35.

Read Our Latest Stock Analysis on CVS Health

CVS Health Trading Down 2.1 %

Shares of CVS stock opened at $55.15 on Wednesday. The company’s 50-day moving average price is $73.19 and its 200-day moving average price is $73.37. The company has a current ratio of 0.86, a quick ratio of 0.63 and a debt-to-equity ratio of 0.77. The stock has a market cap of $69.52 billion, a price-to-earnings ratio of 8.54, a PEG ratio of 0.90 and a beta of 0.56. CVS Health has a twelve month low of $53.70 and a twelve month high of $83.25.

CVS Health (NYSE:CVSGet Free Report) last announced its quarterly earnings results on Wednesday, May 1st. The pharmacy operator reported $1.31 earnings per share for the quarter, missing the consensus estimate of $1.69 by ($0.38). The firm had revenue of $88.44 billion for the quarter, compared to analyst estimates of $89.33 billion. CVS Health had a net margin of 2.33% and a return on equity of 15.25%. The company’s revenue was up 3.7% compared to the same quarter last year. During the same period in the previous year, the firm posted $2.20 EPS. As a group, equities analysts predict that CVS Health will post 8.31 earnings per share for the current year.

Insider Activity at CVS Health

In related news, EVP Prem S. Shah sold 29,473 shares of the firm’s stock in a transaction that occurred on Friday, February 16th. The shares were sold at an average price of $76.95, for a total value of $2,267,947.35. Following the sale, the executive vice president now owns 39,765 shares of the company’s stock, valued at $3,059,916.75. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 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 shares were sold at an average price of $76.95, for a total value of $2,267,947.35. Following the transaction, the executive vice president now directly owns 39,765 shares in the company, valued at $3,059,916.75. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Edward J. Ludwig purchased 1,000 shares of the company’s stock in a transaction on Thursday, May 2nd. The stock was bought 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 directly owns 21,630 shares of the company’s stock, valued at $1,165,424.40. The disclosure for this purchase can be found here. 0.24% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On CVS Health

A number of hedge funds have recently modified their holdings of CVS. Norges Bank purchased a new position in shares of CVS Health during the fourth quarter worth approximately $1,092,040,000. Capital International Investors grew its position in shares of CVS Health by 47.4% during the fourth quarter. Capital International Investors now owns 33,691,698 shares of the pharmacy operator’s stock worth $2,660,298,000 after acquiring an additional 10,837,801 shares during the last quarter. FMR LLC grew its position in shares of CVS Health by 29.1% during the third quarter. FMR LLC now owns 27,487,238 shares of the pharmacy operator’s stock worth $1,919,159,000 after acquiring an additional 6,194,441 shares during the last quarter. Clearbridge Investments LLC grew its position in shares of CVS Health by 306.6% during the fourth quarter. Clearbridge Investments LLC now owns 3,046,216 shares of the pharmacy operator’s stock worth $240,529,000 after acquiring an additional 2,297,100 shares during the last quarter. Finally, Junto Capital Management LP purchased a new position in shares of CVS Health during the fourth quarter worth approximately $111,209,000. 80.66% of the stock is currently owned by hedge funds and other institutional investors.

CVS Health Company Profile

(Get Free Report)

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.

Recommended Stories

Analyst Recommendations for CVS Health (NYSE:CVS)

Receive News & Ratings for CVS Health Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for CVS Health and related companies with MarketBeat.com's FREE daily email newsletter.