CVS Health (NYSE:CVS) Price Target Lowered to $74.00 at The Goldman Sachs Group

CVS Health (NYSE:CVS) had its price objective cut by The Goldman Sachs Group from $85.00 to $74.00 in a research note issued on Thursday, Benzinga reports. The firm currently has a “buy” rating on the pharmacy operator’s stock. The Goldman Sachs Group’s target price would suggest a potential upside of 35.98% from the stock’s previous close.

CVS has been the subject of a number of other research reports. Truist Financial reaffirmed a “buy” rating and issued a $66.00 price target (down previously from $90.00) on shares of CVS Health in a research note on Thursday. SVB Leerink reaffirmed a “market perform” rating and set a $60.00 price target (down from $87.00) on shares of CVS Health in a report on Wednesday. Piper Sandler raised their target price 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. StockNews.com downgraded CVS Health from a “buy” rating to a “hold” rating in a report on Thursday, February 15th. Finally, Mizuho reduced their price objective on shares of CVS Health from $86.00 to $72.00 and set a “buy” rating on the stock in a research note on Thursday. Seven analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $80.53.

CVS Health Stock Performance

CVS stock traded down $1.89 during trading hours on Thursday, reaching $54.42. The stock had a trading volume of 19,236,744 shares, compared to its average volume of 11,374,604. The stock has a 50-day simple moving average of $73.63 and a 200 day simple moving average of $73.50. The stock has a market capitalization of $68.60 billion, a PE ratio of 8.42, a price-to-earnings-growth ratio of 0.90 and a beta of 0.56. The company has a debt-to-equity ratio of 0.77, a current ratio of 0.86 and a quick ratio of 0.63. CVS Health has a fifty-two week low of $53.70 and a fifty-two week high of $83.25.

CVS Health (NYSE:CVS) last issued its quarterly earnings data 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 company had revenue of $88.44 billion during the quarter, compared to the consensus estimate of $89.33 billion. CVS Health had a net margin of 2.33% and a return on equity of 15.25%. CVS Health’s revenue for the quarter was up 3.7% compared to the same quarter last year. During the same period in the previous year, the company earned $2.20 earnings per share. Analysts predict that CVS Health will post 8.31 EPS for the current fiscal year.

Insider Buying and Selling at CVS Health

In other CVS Health news, EVP Prem S. Shah sold 29,473 shares of CVS Health stock in a transaction dated Friday, February 16th. The stock was sold at an average price of $76.95, for a total value of $2,267,947.35. Following the completion of the sale, the executive vice president now owns 39,765 shares in the company, valued at approximately $3,059,916.75. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.24% of the stock is owned by insiders.

Hedge Funds Weigh In On CVS Health

A number of institutional investors and hedge funds have recently added to or reduced their stakes in CVS. Atticus Wealth Management LLC lifted its holdings in shares of CVS Health by 149.0% during the 4th quarter. Atticus Wealth Management LLC now owns 366 shares of the pharmacy operator’s stock valued at $29,000 after buying an additional 219 shares during the last quarter. USA Financial Formulas lifted its position in shares of CVS Health by 573.2% during the 4th quarter. USA Financial Formulas now owns 377 shares of the pharmacy operator’s stock worth $30,000 after purchasing an additional 321 shares during the last quarter. Cornerstone Planning Group LLC grew its holdings in CVS Health by 111.5% in the 3rd quarter. Cornerstone Planning Group LLC now owns 461 shares of the pharmacy operator’s stock valued at $32,000 after buying an additional 243 shares during the last quarter. Ables Iannone Moore & Associates Inc. bought a new stake in shares of CVS Health in the fourth quarter valued at approximately $32,000. Finally, Creekmur Asset Management LLC bought a new stake in CVS Health in the 4th quarter valued at $34,000. 80.66% of the stock is owned by institutional investors.

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.