CVS Health (NYSE:CVS) Upgraded by Wells Fargo & Company to “Overweight” Rating

CVS Health (NYSE:CVS) was upgraded by stock analysts at Wells Fargo & Company from an “equal weight” rating to an “overweight” rating in a note issued to investors on Monday, Marketbeat Ratings reports. The firm currently has a $66.00 price objective on the pharmacy operator’s stock, up from their prior price objective of $60.00. Wells Fargo & Company‘s price target indicates a potential upside of 24.08% from the company’s previous close.

Several other brokerages have also recently commented on CVS. Truist Financial raised their target price on shares of CVS Health from $66.00 to $76.00 and gave the stock a “buy” rating in a report on Friday, October 11th. UBS Group increased their price target on shares of CVS Health from $60.00 to $62.00 and gave the stock a “neutral” rating in a research report on Thursday, November 7th. Evercore ISI increased their price target on shares of CVS Health from $62.00 to $75.00 and gave the stock an “outperform” rating in a research report on Tuesday, October 8th. Royal Bank of Canada reduced their price target on shares of CVS Health from $68.00 to $58.00 and set an “outperform” rating for the company in a research report on Friday. Finally, Deutsche Bank Aktiengesellschaft reduced their price target on shares of CVS Health from $64.00 to $63.00 and set a “hold” rating for the company in a research report on Friday, August 9th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and thirteen have assigned a buy rating to the company. According to data from MarketBeat, CVS Health presently has an average rating of “Moderate Buy” and a consensus target price of $72.78.

CVS Health Stock Performance

NYSE:CVS opened at $53.19 on Monday. CVS Health has a twelve month low of $52.71 and a twelve month high of $83.25. The company has a current ratio of 0.80, a quick ratio of 0.59 and a debt-to-equity ratio of 0.80. The company has a 50-day moving average of $59.23 and a 200-day moving average of $58.60. The firm has a market cap of $66.93 billion, a price-to-earnings ratio of 13.50, a price-to-earnings-growth ratio of 0.92 and a beta of 0.55.

CVS Health (NYSE:CVS) last posted its quarterly earnings data on Wednesday, November 6th. The pharmacy operator reported $1.09 earnings per share for the quarter, beating the consensus estimate of $1.08 by $0.01. CVS Health had a net margin of 1.36% and a return on equity of 10.72%. The company had revenue of $95.43 billion during the quarter, compared to analyst estimates of $92.72 billion. During the same quarter last year, the firm posted $2.21 EPS. The business’s revenue for the quarter was up 6.3% on a year-over-year basis. Analysts forecast that CVS Health will post 5.48 earnings per share for the current fiscal year.

Institutional Investors Weigh In On CVS Health

Hedge funds and other institutional investors have recently modified their holdings of the stock. MidAtlantic Capital Management Inc. acquired a new stake in shares of CVS Health in the third quarter worth $25,000. Livelsberger Financial Advisory acquired a new stake in CVS Health during the third quarter worth $31,000. Legacy Investment Solutions LLC acquired a new stake in CVS Health during the third quarter worth $31,000. Reston Wealth Management LLC acquired a new stake in CVS Health during the third quarter worth $32,000. Finally, First Community Trust NA boosted its stake 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 buying an additional 302 shares in the last quarter. Institutional investors and hedge funds own 80.66% of the company’s stock.

CVS Health Company Profile

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.