CVS Health (NYSE:CVS) Stock Price Expected to Rise, Wolfe Research Analyst Says

CVS Health (NYSE:CVS) had its price target boosted by analysts at Wolfe Research from $85.00 to $100.00 in a research note issued on Monday,MarketScreener reports. The firm currently has an “outperform” rating on the pharmacy operator’s stock. Wolfe Research’s price target would indicate a potential upside of 27.70% from the stock’s previous close.

A number of other brokerages also recently issued reports on CVS. Piper Sandler increased their price target on shares of CVS Health from $81.00 to $99.00 in a report on Friday, October 31st. Mizuho increased their target price on shares of CVS Health from $76.00 to $88.00 and gave the company an “outperform” rating in a report on Thursday, October 9th. Morgan Stanley boosted their price target on CVS Health from $82.00 to $89.00 and gave the stock an “overweight” rating in a research note on Tuesday, October 14th. The Goldman Sachs Group started coverage on CVS Health in a research note on Tuesday, October 14th. They issued a “buy” rating and a $91.00 price objective for the company. Finally, Sanford C. Bernstein boosted their target price on CVS Health from $77.00 to $86.00 and gave the stock a “market perform” rating in a research report on Thursday, December 4th. Two research analysts have rated the stock with a Strong Buy rating, twenty have given a Buy rating and four have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $91.67.

CVS Health Stock Performance

Shares of CVS stock opened at $78.31 on Monday. The company has a current ratio of 0.83, a quick ratio of 0.63 and a debt-to-equity ratio of 0.83. The stock has a 50 day simple moving average of $78.82 and a 200-day simple moving average of $71.59. The company has a market cap of $99.41 billion, a price-to-earnings ratio of 206.08, a price-to-earnings-growth ratio of 0.75 and a beta of 0.48. CVS Health has a 12-month low of $43.56 and a 12-month high of $85.15.

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

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Avion Wealth raised its position in shares of CVS Health by 99.0% in the second quarter. Avion Wealth now owns 380 shares of the pharmacy operator’s stock valued at $26,000 after buying an additional 189 shares during the last quarter. Harbor Capital Advisors Inc. raised its holdings in CVS Health by 72.1% in the 3rd quarter. Harbor Capital Advisors Inc. now owns 339 shares of the pharmacy operator’s stock valued at $26,000 after acquiring an additional 142 shares during the last quarter. Caitong International Asset Management Co. Ltd lifted its stake in shares of CVS Health by 407.2% during the 3rd quarter. Caitong International Asset Management Co. Ltd now owns 350 shares of the pharmacy operator’s stock worth $26,000 after purchasing an additional 281 shares during the period. Corundum Trust Company INC acquired a new stake in shares of CVS Health during the third quarter worth $29,000. Finally, Harbor Asset Planning Inc. purchased a new stake in CVS Health in the 2nd quarter valued at about $30,000. 80.66% of the stock is currently owned by hedge funds and other institutional investors.

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.