Wells Fargo & Company Issues Pessimistic Forecast for CVS Health (NYSE:CVS) Stock Price

CVS Health (NYSE:CVS) had its price objective reduced by equities researchers at Wells Fargo & Company from $123.00 to $112.00 in a research report issued to clients and investors on Thursday, Benzinga reports. The brokerage currently has an “overweight” rating on the pharmacy operator’s stock. Wells Fargo & Company‘s price objective would indicate a potential upside of 25.23% from the company’s current price.

Other research analysts also recently issued reports about the company. Leerink Partners reduced their price objective on CVS Health from $112.00 to $104.00 and set an “outperform” rating on the stock in a report on Thursday, November 5th. JPMorgan Chase & Co. upped their target price on CVS Health from $111.00 to $118.00 and gave the stock an “overweight” rating in a report on Wednesday, August 12th. Piper Sandler set a $112.00 price target on CVS Health in a research report on Wednesday, September 9th. Argus raised their price target on CVS Health from $104.00 to $114.00 and gave the company a “buy” rating in a research note on Wednesday, August 19th. Finally, Barclays decreased their price objective on CVS Health from $108.00 to $107.00 and set an “overweight” rating for the company in a report on Thursday, November 5th. Twenty-three research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $107.79.

CVS Health Price Performance

CVS Health stock opened at $89.43 on Thursday. The stock has a market cap of $114.43 billion, a price-to-earnings ratio of 10.41, a price-to-earnings-growth ratio of 0.77 and a beta of 0.58. The company has a debt-to-equity ratio of 0.71, a current ratio of 0.85 and a quick ratio of 0.66. CVS Health has a 1 year low of $69.51 and a 1 year high of $110.68. The firm has a 50-day moving average of $89.96 and a two-hundred day moving average of $88.97.

CVS Health (NYSE:CVS) last issued its earnings results on Wednesday, November 4th. The pharmacy operator reported $2.09 EPS for the quarter, topping analysts’ consensus estimates of $1.65 by $0.44. CVS Health had a net margin of 2.62% and a return on equity of 13.65%. The business had revenue of $108.40 billion for the quarter, compared to the consensus estimate of $104.72 billion. During the same period in the prior year, the firm earned $1.60 EPS. The company’s revenue for the quarter was up 5.4% compared to the same quarter last year. On average, research analysts forecast that CVS Health will post 8.26 earnings per share for the current year.

Insider Transactions at CVS Health

In related news, EVP Prem Shah purchased 23,855 shares of CVS Health stock in a transaction dated Friday, November 6th. The stock was purchased at an average cost of $83.89 per share, with a total value of $2,001,195.95. Following the transaction, the executive vice president owned 88,516 shares in the company, valued at approximately $7,425,607.24. The trade was a 36.89% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 0.85% of the company’s stock.

Institutional Investors Weigh In On CVS Health

A number of institutional investors have recently added to or reduced their stakes in the stock. Kilter Group LLC purchased a new stake in shares of CVS Health during the second quarter valued at about $27,000. J.Safra Asset Management Corp purchased a new stake in CVS Health during the second quarter valued at approximately $30,000. Beaird Harris Wealth Management LLC boosted its stake in CVS Health by 201.0% in the second quarter. Beaird Harris Wealth Management LLC now owns 292 shares of the pharmacy operator’s stock valued at $30,000 after acquiring an additional 195 shares in the last quarter. Timbuktu Capital Management LLC acquired a new stake in CVS Health in the second quarter valued at approximately $31,000. Finally, Dunhill Financial LLC purchased a new position in CVS Health in the second quarter worth $32,000. Institutional investors own 80.66% of the company’s stock.

Key Headlines Impacting CVS Health

Here are a few of the latest headlines about CVS:

• Positive Sentiment: CVS reported quarterly adjusted earnings of $2.09 per share, 27% above the $1.65 consensus estimate, while revenue also topped expectations. Aetna margin recovery, stronger pharmacy profits and robust cash flow add to the positive operating picture. CVS Beat Earnings by 27% and Split in Two
• Neutral Sentiment: CVS is accelerating coverage of lower-cost Humira and Stelara biosimilars through Caremark. This may help manage drug costs, though the financial impact is not yet clear. What Is CVS Health Signaling With Its Faster Biosimilar Push?
• Negative Sentiment: Investors also face ongoing PBM pressures and membership declines. One recent valuation update modestly lowered its fair-value estimate, reflecting separation risks and analyst caution. Is CVS Stock Worth Buying as Aetna Recovers but PBM Risks Persist?

About CVS Health

CVS Health is a U.S.-based health care company that operates retail pharmacies, provides pharmacy benefit management services, and offers health insurance and other health services. Its businesses include CVS Pharmacy, pharmacy benefit manager CVS Caremark, and Aetna, its health benefits division. The company also provides care through MinuteClinic walk-in clinics and health care businesses including Oak Street Health and Signify Health. Its services span prescription fulfillment, pharmacy benefit management, health insurance, primary care, and in-home and community-based care.