The Goldman Sachs Group Cuts CVS Health (NYSE:CVS) Price Target to $74.00

CVS Health (NYSE:CVS) had its price target dropped by stock analysts at The Goldman Sachs Group from $85.00 to $74.00 in a research note issued to investors on Thursday, Benzinga reports. The brokerage currently has a “buy” rating on the pharmacy operator’s stock. The Goldman Sachs Group’s price objective indicates a potential upside of 35.98% from the stock’s previous close.

Several other equities analysts have also issued reports on CVS. UBS Group lowered CVS Health from a “buy” rating to a “neutral” rating and cut their target price for the company from $85.00 to $60.00 in a research note on Thursday. SVB Leerink reaffirmed a “market perform” rating and set a $60.00 price target (down from $87.00) on shares of CVS Health in a research report on Wednesday. StockNews.com cut CVS Health from a “buy” rating to a “hold” rating in a research report on Thursday, February 15th. Royal Bank of Canada cut their price objective on shares of CVS Health from $86.00 to $84.00 and set an “outperform” rating on the stock in a report on Thursday, February 8th. Finally, Wells Fargo & Company decreased their price target on shares of CVS Health from $83.00 to $76.00 and set an “equal weight” rating for the company in a report on Monday, April 8th. Seven investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to data from MarketBeat, CVS Health currently has an average rating of “Moderate Buy” and a consensus target price of $80.53.

CVS Health Stock Down 3.4 %

NYSE CVS traded down $1.89 on Thursday, reaching $54.42. 19,236,744 shares of the stock traded hands, compared to its average volume of 11,374,604. The company has a market cap of $68.60 billion, a price-to-earnings ratio of 8.42, a PEG ratio of 0.90 and a beta of 0.56. The company has a debt-to-equity ratio of 0.77, a quick ratio of 0.63 and a current ratio of 0.86. CVS Health has a 12 month low of $53.70 and a 12 month high of $83.25. The company has a fifty day moving average price of $73.63 and a 200-day moving average price of $73.50.

CVS Health (NYSE:CVS) last posted its quarterly earnings results on Wednesday, May 1st. The pharmacy operator reported $1.31 EPS for the quarter, missing the consensus estimate of $1.69 by ($0.38). The business had revenue of $88.44 billion during the quarter, compared to the consensus estimate of $89.33 billion. CVS Health had a net margin of 2.33% and a return on equity of 15.25%. The company’s revenue for the quarter was up 3.7% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $2.20 EPS. As a group, research analysts forecast that CVS Health will post 8.31 EPS for the current fiscal year.

Insider Activity

In other news, EVP Prem S. Shah sold 29,473 shares of the firm’s stock in a transaction dated Friday, February 16th. The stock was sold at an average price of $76.95, for a total transaction of $2,267,947.35. Following the completion of the sale, the executive vice president now directly owns 39,765 shares in the company, valued at $3,059,916.75. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 0.24% of the company’s stock.

Hedge Funds Weigh In On CVS Health

Institutional investors have recently made changes to their positions in the stock. SOA Wealth Advisors LLC. boosted its stake in CVS Health by 4.9% during the 4th quarter. SOA Wealth Advisors LLC. now owns 2,859 shares of the pharmacy operator’s stock valued at $226,000 after purchasing an additional 133 shares during the period. Apella Capital LLC boosted its stake in CVS Health by 4.2% during the fourth quarter. Apella Capital LLC now owns 3,378 shares of the pharmacy operator’s stock valued at $272,000 after buying an additional 136 shares in the last quarter. Prairie Sky Financial Group LLC raised its position in CVS Health by 4.1% in the fourth quarter. Prairie Sky Financial Group LLC now owns 3,612 shares of the pharmacy operator’s stock worth $285,000 after acquiring an additional 141 shares in the last quarter. WealthShield Partners LLC grew its stake in shares of CVS Health by 3.2% in the 4th quarter. WealthShield Partners LLC now owns 4,498 shares of the pharmacy operator’s stock worth $355,000 after purchasing an additional 141 shares during the last quarter. Finally, Sugarloaf Wealth Management LLC lifted its stake in CVS Health by 9.5% during the fourth quarter. Sugarloaf Wealth Management LLC now owns 1,639 shares of the pharmacy operator’s stock valued at $129,000 after purchasing an additional 142 shares during the last quarter. 80.66% of the stock is owned by 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.