CVS Health (NYSE:CVS) PT Raised to $61.00

CVS Health (NYSE:CVS) had its target price increased by Wells Fargo & Company from $60.00 to $61.00 in a report released on Monday morning, Benzinga reports. Wells Fargo & Company currently has an equal weight rating on the pharmacy operator’s stock.

A number of other research analysts also recently weighed in on the stock. Argus decreased their target price on shares of CVS Health from $100.00 to $80.00 and set a buy rating for the company in a research report on Wednesday, May 8th. Truist Financial reiterated a buy rating and set a $66.00 target price (down previously from $90.00) on shares of CVS Health in a report on Thursday, May 2nd. TD Cowen lowered CVS Health from a buy rating to a hold rating and lowered their price target for the stock from $99.00 to $59.00 in a research report on Tuesday, May 7th. Barclays decreased their price objective on shares of CVS Health from $65.00 to $63.00 and set an equal weight rating for the company in a research report on Thursday, August 8th. Finally, Leerink Partnrs downgraded shares of CVS Health from an outperform rating to a market perform rating in a research note on Wednesday, May 1st. Twelve analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of Moderate Buy and an average target price of $73.24.

CVS Health Price Performance

CVS Health stock opened at $55.90 on Monday. CVS Health has a 1 year low of $52.77 and a 1 year high of $83.25. The company has a current ratio of 0.81, a quick ratio of 0.61 and a debt-to-equity ratio of 0.78. The firm has a market capitalization of $70.18 billion, a P/E ratio of 9.81, a PEG ratio of 0.57 and a beta of 0.52. The business has a 50-day moving average of $59.36 and a 200-day moving average of $66.02.

CVS Health (NYSE:CVS) last announced its quarterly earnings results on Wednesday, August 7th. The pharmacy operator reported $1.83 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.73 by $0.10. CVS Health had a return on equity of 13.53% and a net margin of 2.03%. The company had revenue of $91.23 billion during the quarter, compared to the consensus estimate of $91.41 billion. During the same period in the prior year, the company earned $2.21 earnings per share. The company’s revenue for the quarter was up 2.6% compared to the same quarter last year. On average, equities analysts anticipate that CVS Health will post 7 EPS for the current year.

CVS Health Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, August 1st. Shareholders of record on Monday, July 22nd were given a $0.665 dividend. The ex-dividend date of this dividend was Monday, July 22nd. This represents a $2.66 dividend on an annualized basis and a yield of 4.76%. CVS Health’s dividend payout ratio is currently 46.75%.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of CVS. USA Financial Formulas boosted its stake in shares of CVS Health by 573.2% during the fourth quarter. USA Financial Formulas now owns 377 shares of the pharmacy operator’s stock valued at $30,000 after purchasing an additional 321 shares in the last quarter. Ables Iannone Moore & Associates Inc. bought a new stake in CVS Health during the 4th quarter worth approximately $32,000. Creekmur Asset Management LLC bought a new position in shares of CVS Health during the fourth quarter valued at $34,000. Steph & Co. lifted its holdings in shares of CVS Health by 192.0% during the first quarter. Steph & Co. now owns 438 shares of the pharmacy operator’s stock worth $35,000 after purchasing an additional 288 shares during the period. Finally, Kapitalo Investimentos Ltda bought a new stake in shares of CVS Health in the fourth quarter worth $36,000. 80.66% of the stock is currently 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.