Leerink Partners Forecasts Strong Price Appreciation for CVS Health (NYSE:CVS) Stock

CVS Health (NYSE:CVS) had its price objective increased by investment analysts at Leerink Partners from $51.00 to $55.00 in a research note issued on Tuesday. The brokerage presently has a “market perform” rating on the pharmacy operator’s stock. Leerink Partners’ price objective indicates a potential downside of 13.02% from the company’s current price.

A number of other research firms have also commented on CVS. Truist Financial lowered their price objective on CVS Health from $67.00 to $60.00 and set a “buy” rating on the stock in a research note on Monday, January 6th. Royal Bank of Canada cut their price target on shares of CVS Health from $68.00 to $58.00 and set an “outperform” rating for the company in a report on Friday, November 15th. Piper Sandler lowered their price objective on shares of CVS Health from $72.00 to $64.00 and set an “overweight” rating for the company in a research report on Monday, November 25th. Deutsche Bank Aktiengesellschaft raised CVS Health from a “hold” rating to a “buy” rating and set a $66.00 target price on the stock in a report on Tuesday, December 3rd. Finally, Evercore ISI boosted their price target on CVS Health from $60.00 to $65.00 and gave the stock an “outperform” rating in a report on Monday, January 27th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and sixteen have assigned a buy rating to the company. Based on data from MarketBeat, CVS Health presently has an average rating of “Moderate Buy” and a consensus price target of $67.78.

CVS Health Stock Performance

CVS opened at $63.23 on Tuesday. 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 business has a fifty day simple moving average of $50.61 and a 200 day simple moving average of $55.92. CVS Health has a 1 year low of $43.56 and a 1 year high of $80.75. The company has a market capitalization of $79.57 billion, a PE ratio of 16.05, a price-to-earnings-growth ratio of 0.60 and a beta of 0.61.

CVS Health (NYSE:CVS) last announced its earnings results on Wednesday, February 12th. The pharmacy operator reported $1.19 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.89 by $0.30. CVS Health had a net margin of 1.36% and a return on equity of 10.72%. Research analysts expect that CVS Health will post 5.14 EPS for the current year.

Institutional Investors Weigh In On CVS Health

Institutional investors and hedge funds have recently made changes to their positions in the stock. MidAtlantic Capital Management Inc. bought a new stake in CVS Health in the third quarter valued at approximately $25,000. Livelsberger Financial Advisory acquired a new position in shares of CVS Health in the 3rd quarter worth approximately $31,000. Legacy Investment Solutions LLC bought a new stake in shares of CVS Health in the 3rd quarter valued at $31,000. Reston Wealth Management LLC acquired a new stake in shares of CVS Health during the third quarter worth $32,000. Finally, Ridgewood Investments LLC lifted its holdings in CVS Health by 255.7% in the fourth quarter. Ridgewood Investments LLC now owns 626 shares of the pharmacy operator’s stock valued at $28,000 after buying an additional 450 shares during the period. 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.