Morgan Stanley Trims CVS Health (NYSE:CVS) Target Price to $119.00

CVS Health (NYSE:CVSGet Rating) had its price objective decreased by Morgan Stanley from $124.00 to $119.00 in a report released on Wednesday, Marketbeat.com reports. The firm currently has an “overweight” rating on the pharmacy operator’s stock. Morgan Stanley’s target price indicates a potential upside of 18.93% from the company’s previous close.

CVS has been the subject of several other reports. Tigress Financial lifted their price objective on CVS Health from $125.00 to $130.00 in a research report on Wednesday, August 17th. UBS Group boosted their target price on CVS Health from $118.00 to $127.00 and gave the company a “buy” rating in a research report on Thursday, August 4th. Mizuho boosted their target price on CVS Health from $115.00 to $120.00 and gave the company a “buy” rating in a research report on Monday, August 15th. Deutsche Bank Aktiengesellschaft boosted their target price on CVS Health from $113.00 to $120.00 in a research report on Thursday, August 4th. Finally, Raymond James decreased their target price on CVS Health from $120.00 to $115.00 in a research report on Sunday, November 6th. Four analysts have rated the stock with a hold rating, eighteen have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $118.00.

CVS Health Stock Performance

CVS stock opened at $100.06 on Wednesday. The stock has a 50-day moving average price of $96.19 and a 200-day moving average price of $96.79. CVS Health has a 1-year low of $86.28 and a 1-year high of $111.25. The company has a current ratio of 0.94, a quick ratio of 0.69 and a debt-to-equity ratio of 0.72. The firm has a market cap of $131.48 billion, a PE ratio of 42.58, a price-to-earnings-growth ratio of 1.57 and a beta of 0.69.

Hedge Funds Weigh In On CVS Health

Hedge funds and other institutional investors have recently modified their holdings of the business. SRS Capital Advisors Inc. lifted its stake in CVS Health by 105.8% in the third quarter. SRS Capital Advisors Inc. now owns 284 shares of the pharmacy operator’s stock valued at $27,000 after purchasing an additional 146 shares during the last quarter. Karp Capital Management Corp purchased a new position in CVS Health in the third quarter valued at approximately $30,000. Coston McIsaac & Partners purchased a new position in CVS Health in the second quarter valued at approximately $34,000. Moisand Fitzgerald Tamayo LLC lifted its stake in CVS Health by 63.6% in the third quarter. Moisand Fitzgerald Tamayo LLC now owns 368 shares of the pharmacy operator’s stock valued at $35,000 after purchasing an additional 143 shares during the last quarter. Finally, Win Advisors Inc. lifted its stake in CVS Health by 60.1% in the second quarter. Win Advisors Inc. now owns 405 shares of the pharmacy operator’s stock valued at $38,000 after purchasing an additional 152 shares during the last quarter. Hedge funds and other institutional investors own 77.64% of the company’s stock.

About CVS Health

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CVS Health Corporation provides health services in the United States. The company's Health Care Benefits segment offers traditional, voluntary, and consumer-directed health insurance products and related services. It serves employer groups, individuals, college students, part-time and hourly workers, health plans, health care providers, governmental units, government-sponsored plans, labor groups, and expatriates.

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