Robert W. Baird Forecasts Strong Price Appreciation for CVS Health (NYSE:CVS) Stock

CVS Health (NYSE:CVS) had its price objective upped by research analysts at Robert W. Baird from $51.00 to $71.00 in a report released on Tuesday,Benzinga reports. The brokerage currently has a “neutral” rating on the pharmacy operator’s stock. Robert W. Baird’s price objective would indicate a potential upside of 2.68% from the company’s current price.

Several other research firms have also commented on CVS. Evercore ISI boosted their price objective on shares of CVS Health from $60.00 to $65.00 and gave the stock an “outperform” rating in a research report on Monday, January 27th. StockNews.com raised CVS Health from a “sell” rating to a “hold” rating in a research note on Thursday, February 13th. Piper Sandler raised their target price on shares of CVS Health from $72.00 to $74.00 and gave the stock an “overweight” rating in a research report on Friday, March 21st. JPMorgan Chase & Co. boosted their price objective on shares of CVS Health from $80.00 to $81.00 and gave the company an “overweight” rating in a research note on Tuesday, February 18th. Finally, Wells Fargo & Company increased their price objective on shares of CVS Health from $68.00 to $73.00 and gave the company an “overweight” rating in a research report on Thursday, February 13th. Four analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $71.83.

CVS Health Stock Down 0.5 %

Shares of CVS opened at $69.15 on Tuesday. The stock has a market capitalization of $87.18 billion, a PE ratio of 18.89, a P/E/G ratio of 0.98 and a beta of 0.57. The company’s 50-day simple moving average is $65.37 and its 200-day simple moving average is $58.58. The company has a debt-to-equity ratio of 0.80, a quick ratio of 0.60 and a current ratio of 0.81. CVS Health has a 1 year low of $43.56 and a 1 year high of $71.66.

CVS Health (NYSE:CVS) last announced its earnings results on Wednesday, February 12th. The pharmacy operator reported $1.19 EPS for the quarter, beating analysts’ consensus estimates of $0.89 by $0.30. CVS Health had a net margin of 1.24% and a return on equity of 9.11%. Analysts forecast that CVS Health will post 5.89 earnings per share for the current fiscal year.

Insider Transactions at CVS Health

In other news, SVP James David Clark sold 7,513 shares of CVS Health stock in a transaction on Wednesday, March 5th. The stock was sold at an average price of $66.35, for a total transaction of $498,487.55. Following the transaction, the senior vice president now directly owns 8,394 shares in the company, valued at approximately $556,941.90. This trade represents a 47.23 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Michael F. Mahoney bought 30,000 shares of the firm’s stock in a transaction that occurred on Tuesday, February 18th. The shares were purchased at an average cost of $66.70 per share, with a total value of $2,001,000.00. Following the purchase, the director now directly owns 39,356 shares of the company’s stock, valued at approximately $2,625,045.20. This represents a 320.65 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Company insiders own 0.24% of the company’s stock.

Institutional Investors Weigh In On CVS Health

Institutional investors and hedge funds have recently modified their holdings of the stock. Ridgewood Investments LLC grew its position in CVS Health by 255.7% during the 4th quarter. Ridgewood Investments LLC now owns 626 shares of the pharmacy operator’s stock worth $28,000 after purchasing an additional 450 shares in the last quarter. Stonebridge Financial Group LLC acquired a new stake in CVS Health during the 4th quarter worth about $28,000. Hopwood Financial Services Inc. acquired a new position in shares of CVS Health in the 4th quarter valued at about $29,000. McIlrath & Eck LLC grew its position in CVS Health by 32.6% during the fourth quarter. McIlrath & Eck LLC now owns 707 shares of the pharmacy operator’s stock valued at $32,000 after purchasing an additional 174 shares in the last quarter. Finally, Financial Perspectives Inc boosted its stake in shares of CVS Health by 137.5% during the 4th quarter. Financial Perspectives Inc now owns 805 shares of the pharmacy operator’s stock valued at $36,000 after buying an additional 466 shares during the period. 80.66% of the stock is 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.