Mizuho Lowers CVS Health (NYSE:CVS) Price Target to $72.00

CVS Health (NYSE:CVS) had its price target dropped by equities research analysts at Mizuho from $86.00 to $72.00 in a report released on Thursday, Benzinga reports. The brokerage currently has a “buy” rating on the pharmacy operator’s stock. Mizuho’s price objective suggests a potential upside of 28.80% from the stock’s previous close.

Several other brokerages also recently issued reports on CVS. Piper Sandler boosted their target price on shares of CVS Health from $93.00 to $94.00 and gave the company an “overweight” rating in a research note on Friday, March 15th. Wells Fargo & Company cut their target price on shares of CVS Health from $83.00 to $76.00 and set an “equal weight” rating on the stock in a research note on Monday, April 8th. Barclays started coverage on shares of CVS Health in a report on Wednesday, March 6th. They set an “equal weight” rating and a $78.00 price target on the stock. UBS Group cut shares of CVS Health from a “buy” rating to a “neutral” rating and lowered their price target for the company from $85.00 to $60.00 in a report on Thursday. Finally, Cantor Fitzgerald cut shares of CVS Health from an “overweight” rating to a “neutral” rating and lowered their price target for the company from $87.00 to $58.00 in a report on Wednesday. Eight research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $80.35.

CVS Health Price Performance

Shares of NYSE CVS traded up $0.75 during trading on Thursday, hitting $55.90. The company had a trading volume of 23,946,075 shares, compared to its average volume of 12,498,538. The company has a market cap of $70.18 billion, a P/E ratio of 9.82, a PEG ratio of 0.86 and a beta of 0.56. CVS Health has a 52 week low of $53.70 and a 52 week high of $83.25. The business’s 50-day moving average is $72.77 and its 200 day moving average is $73.26. The company has a debt-to-equity ratio of 0.78, a quick ratio of 0.63 and a current ratio of 0.81.

CVS Health (NYSE:CVS) last announced its earnings results on Wednesday, May 1st. The pharmacy operator reported $1.31 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.69 by ($0.38). CVS Health had a net margin of 2.03% and a return on equity of 13.53%. The firm had revenue of $88.44 billion for the quarter, compared to analyst estimates of $89.33 billion. During the same period last year, the firm earned $2.20 earnings per share. CVS Health’s revenue for the quarter was up 3.7% compared to the same quarter last year. Equities research analysts predict that CVS Health will post 7.03 earnings per share for the current fiscal year.

Insider Transactions at CVS Health

In other 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 transaction of $2,267,947.35. Following the completion of the sale, the executive vice president now owns 39,765 shares of the company’s stock, valued at $3,059,916.75. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. In other 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 transaction of $2,267,947.35. Following the completion of the sale, the executive vice president now owns 39,765 shares of the company’s stock, valued at $3,059,916.75. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Edward J. Ludwig purchased 1,000 shares of the firm’s stock in a transaction dated Thursday, May 2nd. The shares were bought at an average cost 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. Company insiders own 0.24% of the company’s stock.

Institutional Trading of CVS Health

Hedge funds have recently modified their holdings of the stock. Atticus Wealth Management LLC grew its stake in shares of CVS Health by 149.0% during the fourth quarter. Atticus Wealth Management LLC now owns 366 shares of the pharmacy operator’s stock valued at $29,000 after purchasing an additional 219 shares during the last quarter. USA Financial Formulas boosted its stake in CVS Health by 573.2% in the fourth quarter. USA Financial Formulas now owns 377 shares of the pharmacy operator’s stock valued at $30,000 after acquiring an additional 321 shares during the last quarter. Cornerstone Planning Group LLC boosted its stake in CVS Health by 111.5% in the third quarter. Cornerstone Planning Group LLC now owns 461 shares of the pharmacy operator’s stock valued at $32,000 after acquiring an additional 243 shares during the last quarter. Ables Iannone Moore & Associates Inc. bought a new position in CVS Health in the fourth quarter valued at approximately $32,000. Finally, Creekmur Asset Management LLC bought a new position in CVS Health in the fourth quarter valued at approximately $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.