CVS Health (NYSE:CVS) Price Target Raised to $100.00 at Wolfe Research

CVS Health (NYSE:CVS) had its price objective increased by Wolfe Research from $85.00 to $100.00 in a note issued to investors on Monday,MarketScreener reports. The firm currently has an “outperform” rating on the pharmacy operator’s stock. Wolfe Research’s price objective would indicate a potential upside of 32.98% from the stock’s previous close.

Several other brokerages have also recently commented on CVS. Piper Sandler lifted their price objective on shares of CVS Health from $81.00 to $99.00 in a research note on Friday, October 31st. Truist Financial reiterated a “buy” rating and set a $95.00 price objective (up previously from $92.00) on shares of CVS Health in a research note on Thursday, October 30th. Cantor Fitzgerald boosted their price objective on CVS Health from $78.00 to $95.00 and gave the company an “overweight” rating in a report on Thursday, October 30th. Baird R W raised CVS Health from a “hold” rating to a “strong-buy” rating in a report on Thursday, August 14th. Finally, Mizuho boosted their price target on CVS Health from $76.00 to $88.00 and gave the company an “outperform” rating in a report on Thursday, October 9th. Two investment analysts have rated the stock with a Strong Buy rating, twenty have issued a Buy rating and four have assigned a Hold rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $91.67.

CVS Health Stock Performance

Shares of CVS traded down $0.43 during trading hours on Monday, reaching $75.20. 865,811 shares of the company traded hands, compared to its average volume of 9,013,755. The stock has a market capitalization of $95.46 billion, a P/E ratio of 197.56, a P/E/G ratio of 0.74 and a beta of 0.48. The company has a quick ratio of 0.63, a current ratio of 0.83 and a debt-to-equity ratio of 0.83. The business has a fifty day moving average price of $78.75 and a 200-day moving average price of $71.35. CVS Health has a 12-month low of $43.56 and a 12-month high of $85.15.

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

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of CVS. Norges Bank purchased a new position in shares of CVS Health during the 2nd quarter worth $1,358,698,000. Wellington Management Group LLP grew its stake in shares of CVS Health by 391.6% in the third quarter. Wellington Management Group LLP now owns 6,330,717 shares of the pharmacy operator’s stock valued at $477,273,000 after buying an additional 5,042,816 shares in the last quarter. Amundi boosted its stake in shares of CVS Health by 95.3% in the 3rd quarter. Amundi now owns 7,453,980 shares of the pharmacy operator’s stock valued at $572,665,000 after buying an additional 3,637,943 shares during the period. Dodge & Cox lifted its holdings in CVS Health by 4.8% during the 1st quarter. Dodge & Cox now owns 73,459,122 shares of the pharmacy operator’s stock worth $4,976,856,000 after buying an additional 3,353,223 shares during the last quarter. Finally, Invesco Ltd. increased its holdings in shares of CVS Health by 15.3% in the 2nd quarter. Invesco Ltd. now owns 23,532,479 shares of the pharmacy operator’s stock valued at $1,623,270,000 after acquiring an additional 3,118,626 shares during the last quarter. 80.66% of the stock is owned by hedge funds and other 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.