CVS Health (NYSE:CVS) Price Target Cut to $72.00 by Analysts at Mizuho

CVS Health (NYSE:CVS) had its price target dropped by investment analysts at Mizuho from $86.00 to $72.00 in a note issued to investors on Thursday, Benzinga reports. The brokerage presently has a “buy” rating on the pharmacy operator’s stock. Mizuho’s price objective indicates a potential upside of 27.84% from the stock’s current price.

A number of other analysts also recently issued reports on the stock. Cantor Fitzgerald downgraded shares of CVS Health from an “overweight” rating to a “neutral” rating and cut their price target for the stock from $87.00 to $58.00 in a report on Wednesday. StockNews.com downgraded CVS Health from a “buy” rating to a “hold” rating in a research report on Thursday, February 15th. Royal Bank of Canada decreased their price target on CVS Health from $86.00 to $84.00 and set an “outperform” rating on the stock in a research note on Thursday, February 8th. UBS Group downgraded CVS Health from a “buy” rating to a “neutral” rating and cut their price objective for the stock from $85.00 to $60.00 in a research report on Thursday. Finally, Piper Sandler increased their target price on shares of CVS Health from $93.00 to $94.00 and gave the stock an “overweight” rating in a research note on Friday, March 15th. Seven investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $83.50.

CVS Health Stock Performance

Shares of CVS Health stock opened at $56.32 on Thursday. The business’s 50 day moving average price is $73.63 and its 200 day moving average price is $73.50. The company has a market cap of $70.99 billion, a price-to-earnings ratio of 8.72, a PEG ratio of 0.90 and a beta of 0.56. The company has a debt-to-equity ratio of 0.77, a quick ratio of 0.63 and a current ratio of 0.86. CVS Health has a one year low of $54.00 and a one year high of $83.25.

CVS Health (NYSE:CVS) last posted its quarterly earnings results on Wednesday, February 7th. The pharmacy operator reported $2.12 EPS for the quarter, topping the consensus estimate of $2.01 by $0.11. CVS Health had a return on equity of 15.25% and a net margin of 2.33%. The business had revenue of $93.81 billion for the quarter, compared to analyst estimates of $90.58 billion. During the same quarter in the previous year, the firm earned $1.99 EPS. The company’s quarterly revenue was up 11.9% compared to the same quarter last year. On average, research analysts predict that CVS Health will post 8.31 EPS for the current year.

Insider Transactions at CVS Health

In related news, EVP Prem S. Shah sold 29,473 shares of CVS Health stock in a transaction that occurred on Friday, February 16th. The shares were sold at an average price of $76.95, for a total value of $2,267,947.35. Following the completion of the transaction, the executive vice president now owns 39,765 shares in the company, valued at $3,059,916.75. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 0.24% of the company’s stock.

Institutional Trading of CVS Health

Hedge funds and other institutional investors have recently bought and sold shares of the business. Norges Bank purchased a new stake in shares of CVS Health during the 4th quarter worth approximately $1,092,040,000. Capital International Investors lifted its position in CVS Health by 47.4% in the fourth quarter. Capital International Investors now owns 33,691,698 shares of the pharmacy operator’s stock valued at $2,660,298,000 after acquiring an additional 10,837,801 shares during the last quarter. FMR LLC boosted its stake in CVS Health by 29.1% in the third quarter. FMR LLC now owns 27,487,238 shares of the pharmacy operator’s stock valued at $1,919,159,000 after acquiring an additional 6,194,441 shares in the last quarter. Clearbridge Investments LLC increased its position in shares of CVS Health by 306.6% during the fourth quarter. Clearbridge Investments LLC now owns 3,046,216 shares of the pharmacy operator’s stock worth $240,529,000 after purchasing an additional 2,297,100 shares in the last quarter. Finally, Junto Capital Management LP purchased a new stake in shares of CVS Health in the 4th quarter valued at about $111,209,000. 80.66% of the stock is currently owned by institutional investors and hedge funds.

About CVS Health

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.