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

CVS Health (NYSE:CVS) had its price target raised by Truist Financial from $66.00 to $76.00 in a research report report published on Friday, Benzinga reports. Truist Financial currently has a buy rating on the pharmacy operator’s stock.

A number of other equities research analysts have also recently commented on CVS. Barclays raised CVS Health from an equal weight rating to an overweight rating and raised their price target for the company from $63.00 to $82.00 in a report on Thursday. TD Cowen upgraded CVS Health from a hold rating to a buy rating and raised their price objective for the company from $59.00 to $85.00 in a research report on Friday, October 4th. Royal Bank of Canada restated an outperform rating and set a $68.00 price objective on shares of CVS Health in a research report on Wednesday, September 4th. Wells Fargo & Company raised their price objective on CVS Health from $60.00 to $61.00 and gave the company an equal weight rating in a research report on Monday, August 12th. Finally, Deutsche Bank Aktiengesellschaft cut their price objective on CVS Health from $64.00 to $63.00 and set a hold rating for the company in a research report on Friday, August 9th. Nine research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of Moderate Buy and an average target price of $75.26.

CVS Health Price Performance

Shares of CVS Health stock opened at $66.63 on Friday. CVS Health has a one year low of $52.77 and a one year high of $83.25. The stock’s fifty day moving average is $59.12 and its 200 day moving average is $60.89. The stock has a market cap of $83.65 billion, a P/E ratio of 11.71, a P/E/G ratio of 0.93 and a beta of 0.54. The company has a debt-to-equity ratio of 0.83, a quick ratio of 0.66 and a current ratio of 0.86.

CVS Health (NYSE:CVS) last announced its earnings results on Wednesday, August 7th. The pharmacy operator reported $1.83 EPS for the quarter, topping analysts’ consensus estimates of $1.73 by $0.10. The company had revenue of $91.23 billion for the quarter, compared to analysts’ expectations of $91.41 billion. CVS Health had a return on equity of 12.72% and a net margin of 1.98%. CVS Health’s revenue for the quarter was up 2.6% compared to the same quarter last year. During the same period last year, the firm earned $2.21 EPS. Sell-side analysts anticipate that CVS Health will post 6.51 earnings per share for the current year.

CVS Health Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 1st. Shareholders of record on Monday, October 21st will be given a dividend of $0.665 per share. The ex-dividend date is Monday, October 21st. This represents a $2.66 annualized dividend and a dividend yield of 3.99%. CVS Health’s dividend payout ratio (DPR) is presently 46.75%.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the business. Creative Planning raised its stake in shares of CVS Health by 23.5% during the third quarter. Creative Planning now owns 250,891 shares of the pharmacy operator’s stock valued at $15,776,000 after acquiring an additional 47,737 shares in the last quarter. CX Institutional raised its stake in shares of CVS Health by 698.0% during the third quarter. CX Institutional now owns 74,609 shares of the pharmacy operator’s stock valued at $4,691,000 after acquiring an additional 65,259 shares in the last quarter. Kathleen S. Wright Associates Inc. bought a new stake in shares of CVS Health during the third quarter valued at approximately $33,000. Procyon Advisors LLC bought a new stake in shares of CVS Health during the third quarter valued at approximately $202,000. Finally, Thurston Springer Miller Herd & Titak Inc. raised its stake in shares of CVS Health by 32.5% during the third quarter. Thurston Springer Miller Herd & Titak Inc. now owns 7,805 shares of the pharmacy operator’s stock valued at $491,000 after acquiring an additional 1,914 shares in the last quarter. Hedge funds and other institutional investors own 80.66% of the company’s stock.

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.