Wells Fargo & Company Issues Pessimistic Forecast for CVS Health (NYSE:CVS) Stock Price

CVS Health (NYSE:CVS) had its price target cut by research analysts at Wells Fargo & Company from $103.00 to $102.00 in a research report issued on Thursday,Benzinga reports. The brokerage currently has an “overweight” rating on the pharmacy operator’s stock. Wells Fargo & Company‘s target price would suggest a potential upside of 31.00% from the company’s previous close.

A number of other equities research analysts have also commented on the company. TD Cowen raised their price target on CVS Health from $99.00 to $100.00 and gave the stock a “buy” rating in a research report on Monday, November 3rd. Raymond James Financial increased their target price on CVS Health from $75.00 to $90.00 in a research note on Friday, October 31st. Cantor Fitzgerald lifted their price target on shares of CVS Health from $78.00 to $95.00 and gave the company an “overweight” rating in a research note on Thursday, October 30th. Evercore ISI increased their price objective on shares of CVS Health from $85.00 to $95.00 and gave the stock an “outperform” rating in a research report on Thursday, October 30th. Finally, Wolfe Research raised their price objective on shares of CVS Health from $80.00 to $85.00 and gave the stock an “outperform” rating in a report on Monday, September 22nd. Two analysts have rated the stock with a Strong Buy rating, twenty-one have given a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat.com, CVS Health currently has a consensus rating of “Moderate Buy” and a consensus price target of $89.41.

CVS Health Trading Down 1.7%

CVS opened at $77.86 on Thursday. CVS Health has a twelve month low of $43.56 and a twelve month high of $85.15. The firm has a market cap of $98.84 billion, a PE ratio of 204.90, a price-to-earnings-growth ratio of 0.87 and a beta of 0.60. The company has a debt-to-equity ratio of 0.83, a quick ratio of 0.62 and a current ratio of 0.83. The firm’s fifty day moving average is $77.70 and its two-hundred day moving average is $69.90.

CVS Health (NYSE:CVS) last released its quarterly earnings data on Wednesday, October 29th. The pharmacy operator reported $1.60 EPS for the quarter, beating analysts’ consensus estimates of $1.36 by $0.24. The business had revenue of $102.87 billion during the quarter, compared to analysts’ expectations of $98.85 billion. CVS Health had a net margin of 0.12% and a return on equity of 11.45%. The firm’s quarterly revenue was up 7.8% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.09 EPS. CVS Health has set its FY 2025 guidance at 6.550-6.650 EPS. Equities research analysts anticipate that CVS Health will post 5.89 EPS for the current year.

Insider Activity at CVS Health

In other news, Director Anne A. Finucane sold 7,500 shares of the firm’s stock in a transaction dated Wednesday, August 20th. The stock was sold at an average price of $71.02, for a total value of $532,650.00. Following the completion of the transaction, the director owned 22,156 shares in the company, valued at $1,573,519.12. This trade represents a 25.29% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 1.22% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. Avion Wealth raised its stake in shares of CVS Health by 99.0% during the 2nd quarter. Avion Wealth now owns 380 shares of the pharmacy operator’s stock worth $26,000 after purchasing an additional 189 shares in the last quarter. Harbor Capital Advisors Inc. increased its holdings in CVS Health by 72.1% during the third quarter. Harbor Capital Advisors Inc. now owns 339 shares of the pharmacy operator’s stock worth $26,000 after buying an additional 142 shares during the last quarter. Corundum Trust Company INC bought a new stake in CVS Health during the third quarter worth $29,000. Harbor Asset Planning Inc. acquired a new stake in CVS Health in the second quarter valued at $30,000. Finally, Bell Investment Advisors Inc grew its position in shares of CVS Health by 119.8% in the 1st quarter. Bell Investment Advisors Inc now owns 455 shares of the pharmacy operator’s stock valued at $31,000 after acquiring an additional 248 shares during the period. 80.66% of the stock is owned by institutional investors and hedge funds.

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.