Truist Financial Boosts CVS Health (NYSE:CVS) Price Target to $76.00

CVS Health (NYSE:CVS) had its price target increased by Truist Financial from $60.00 to $76.00 in a report issued on Thursday,Benzinga reports. The firm presently has a “buy” rating on the pharmacy operator’s stock. Truist Financial’s price target would indicate a potential upside of 20.20% from the stock’s previous close.

Several other equities research analysts have also commented on the company. Evercore ISI raised their price objective on shares of CVS Health from $60.00 to $65.00 and gave the stock an “outperform” rating in a research note on Monday, January 27th. Wells Fargo & Company raised shares of CVS Health from an “equal weight” rating to an “overweight” rating and increased their price target for the stock from $60.00 to $66.00 in a report on Monday, November 18th. Cantor Fitzgerald raised shares of CVS Health from a “neutral” rating to an “overweight” rating in a report on Wednesday. Wolfe Research increased their target price on shares of CVS Health from 67.00 to 70.00 and gave the stock an “overweight” rating in a research note on Tuesday. Finally, TD Cowen lifted their price target on CVS Health from $73.00 to $80.00 and gave the company a “buy” rating in a research note on Monday, November 25th. One research analyst has rated the stock with a sell rating, four have given a hold rating and seventeen have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $69.89.

CVS Health Stock Up 15.0 %

NYSE:CVS opened at $63.23 on Thursday. The firm has a market capitalization of $79.57 billion, a P/E ratio of 16.05, a PEG ratio of 0.60 and a beta of 0.61. The company’s fifty day moving average price is $50.71 and its 200-day moving average price is $55.94. CVS Health has a 1-year low of $43.56 and a 1-year high of $80.75. The company has a debt-to-equity ratio of 0.80, a current ratio of 0.80 and a quick ratio of 0.59.

CVS Health (NYSE:CVS) last released its quarterly earnings data on Wednesday, February 12th. The pharmacy operator reported $1.19 earnings per share 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%. As a group, equities research analysts anticipate that CVS Health will post 5.14 EPS for the current year.

Hedge Funds Weigh In On CVS Health

Institutional investors and hedge funds have recently bought and sold shares of the business. Norges Bank purchased a new position in CVS Health in the 4th quarter worth approximately $839,574,000. Davis Selected Advisers increased its holdings in shares of CVS Health by 2,998.1% in the fourth quarter. Davis Selected Advisers now owns 11,385,950 shares of the pharmacy operator’s stock valued at $511,115,000 after purchasing an additional 11,018,438 shares during the last quarter. Pzena Investment Management LLC lifted its position 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 worth $880,319,000 after buying an additional 6,475,271 shares in the last quarter. Hotchkis & Wiley Capital Management LLC grew its holdings in CVS Health by 34.8% in the 3rd quarter. Hotchkis & Wiley Capital Management LLC now owns 11,897,034 shares of the pharmacy operator’s stock valued at $748,085,000 after buying an additional 3,071,613 shares in the last quarter. Finally, Raymond James Financial Inc. acquired a new stake in shares of CVS Health in the 4th quarter worth $116,033,000. 80.66% of the stock is currently 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.