Leerink Partners Upgrades CVS Health (NYSE:CVS) to Outperform

CVS Health (NYSE:CVS) was upgraded by research analysts at Leerink Partners from a “market perform” rating to an “outperform” rating in a report issued on Thursday, Marketbeat reports. The firm presently has a $75.00 target price on the pharmacy operator’s stock, up from their previous target price of $55.00. Leerink Partners’ target price suggests a potential upside of 14.15% from the stock’s current price.

A number of other analysts have also recently commented on the company. Truist Financial reduced their price objective on CVS Health from $67.00 to $60.00 and set a “buy” rating for the company in a research report on Monday, January 6th. Cantor Fitzgerald upgraded CVS Health from a “neutral” rating to an “overweight” rating in a research report on Wednesday. Piper Sandler reduced their price objective on CVS Health from $72.00 to $64.00 and set an “overweight” rating for the company in a research report on Monday, November 25th. Wolfe Research upped their price target on CVS Health from 67.00 to 70.00 and gave the stock an “overweight” rating in a research report on Tuesday. Finally, Mizuho reduced their price target on CVS Health from $73.00 to $66.00 and set an “outperform” rating for the company in a research report on Thursday, October 24th. Four investment analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $70.28.

CVS Health Stock Down 1.0 %

CVS stock opened at $65.71 on Thursday. CVS Health has a 1-year low of $43.56 and a 1-year high of $80.75. The business has a fifty day moving average price of $50.90 and a 200-day moving average price of $56.01. The company has a debt-to-equity ratio of 0.80, a current ratio of 0.80 and a quick ratio of 0.59. The stock has a market capitalization of $82.68 billion, a P/E ratio of 16.68, a P/E/G ratio of 0.60 and a beta of 0.61.

CVS Health (NYSE:CVS) last posted its quarterly earnings data 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 return on equity of 10.72% and a net margin of 1.36%. Equities analysts forecast that CVS Health will post 5.14 earnings per share for the current fiscal year.

Hedge Funds Weigh In On CVS Health

A number of hedge funds have recently made changes to their positions in CVS. Norges Bank bought a new position in CVS Health during the fourth quarter valued at approximately $839,574,000. Capital World Investors boosted its stake in CVS Health by 26.6% during the fourth quarter. Capital World Investors now owns 61,039,777 shares of the pharmacy operator’s stock valued at $2,739,927,000 after buying an additional 12,819,148 shares during the last quarter. Davis Selected Advisers boosted its stake in CVS Health by 2,998.1% during the fourth quarter. Davis Selected Advisers now owns 11,385,950 shares of the pharmacy operator’s stock valued at $511,115,000 after buying an additional 11,018,438 shares during the last quarter. Dodge & Cox boosted its stake in CVS Health by 11.2% during the fourth quarter. Dodge & Cox now owns 70,105,899 shares of the pharmacy operator’s stock valued at $3,147,054,000 after buying an additional 7,075,209 shares during the last quarter. Finally, Pzena Investment Management LLC boosted its stake in CVS Health by 49.3% during the fourth quarter. Pzena Investment Management LLC now owns 19,610,579 shares of the pharmacy operator’s stock valued at $880,319,000 after buying an additional 6,475,271 shares during the last quarter. Institutional investors own 80.66% of the company’s stock.

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.