Fintel reports that on May 2, 2024, UBS downgraded their outlook for CVS Health (NYSE:CVS) from Buy to Neutral.

Analyst Price Forecast Suggests 56.18% Upside

As of May 1, 2024, the average one-year price target for CVS Health is 87.95. The forecasts range from a low of 74.74 to a high of $103.95. The average price target represents an increase of 56.18% from its latest reported closing price of 56.31.

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The projected annual revenue for CVS Health is 323,836MM, a decrease of 9.96%. The projected annual non-GAAP EPS is 9.71.

What is the Fund Sentiment?

There are 3,537 funds or institutions reporting positions in CVS Health. This is an increase of 40 owner(s) or 1.14% in the last quarter. Average portfolio weight of all funds dedicated to CVS is 0.47%, an increase of 1.11%. Total shares owned by institutions increased in the last three months by 2.12% to 1,225,618K shares. The put/call ratio of CVS is 0.78, indicating a bullish outlook.

What are Other Shareholders Doing?

Capital World Investors holds 40,545K shares representing 3.22% ownership of the company. In its prior filing, the firm reported owning 40,425K shares , representing an increase of 0.30%. The firm increased its portfolio allocation in CVS by 1.83% over the last quarter.

VTSMX - Vanguard Total Stock Market Index Fund Investor Shares holds 40,404K shares representing 3.21% ownership of the company. In its prior filing, the firm reported owning 39,982K shares , representing an increase of 1.05%. The firm increased its portfolio allocation in CVS by 2.13% over the last quarter.

Capital International Investors holds 33,692K shares representing 2.67% ownership of the company. In its prior filing, the firm reported owning 22,854K shares , representing an increase of 32.17%. The firm increased its portfolio allocation in CVS by 47.29% over the last quarter.

AWSHX - WASHINGTON MUTUAL INVESTORS FUND holds 32,300K shares representing 2.56% ownership of the company. In its prior filing, the firm reported owning 30,123K shares , representing an increase of 6.74%. The firm increased its portfolio allocation in CVS by 2.90% over the last quarter.

VFINX - Vanguard 500 Index Fund Investor Shares holds 31,379K shares representing 2.49% ownership of the company. In its prior filing, the firm reported owning 30,863K shares , representing an increase of 1.64%. The firm increased its portfolio allocation in CVS by 1.56% over the last quarter.

CVS Health Background Information
(This description is provided by the company.)

CVS Health is a different kind of health care company. It is a diversified health services company with nearly 300,000 employees united around a common purpose of helping people on their path to better health. In an increasingly connected and digital world, it is meeting people wherever they are and changing health care to meet their needs. Built on a foundation of unmatched community presence, its diversified model engages one in three Americans each year. From its innovative new services at HealthHUB locations, to transformative programs that help manage chronic conditions, it is making health care more accessible, more affordable and simply better.