CVS Health’s (CVS) Neutral Rating Reiterated at Cantor Fitzgerald

Cantor Fitzgerald reaffirmed their neutral rating on shares of CVS Health (NYSE:CVS) in a report released on Monday morning, Benzinga reports. They currently have a $62.00 target price on the pharmacy operator’s stock.

A number of other analysts have also recently commented on the stock. Wells Fargo & Company lifted their target price on shares of CVS Health from $60.00 to $61.00 and gave the stock an equal weight rating in a research note on Monday, August 12th. Evercore ISI dropped their price objective on shares of CVS Health from $65.00 to $62.00 and set an outperform rating on the stock in a report on Thursday, August 8th. Robert W. Baird initiated coverage on CVS Health in a research note on Thursday, May 30th. They issued a neutral rating and a $61.00 target price for the company. JPMorgan Chase & Co. dropped their price target on CVS Health from $101.00 to $86.00 and set an overweight rating on the stock in a research note on Thursday, May 30th. Finally, Baird R W upgraded CVS Health to a hold rating in a research note on Thursday, May 30th. Eleven equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to MarketBeat.com, CVS Health presently has an average rating of Moderate Buy and an average price target of $72.10.

CVS Health Price Performance

Shares of CVS opened at $58.42 on Monday. The company has a 50 day moving average of $58.33 and a two-hundred day moving average of $62.74. The company has a market cap of $73.34 billion, a price-to-earnings ratio of 10.27, a price-to-earnings-growth ratio of 0.79 and a beta of 0.53. The company has a quick ratio of 0.66, a current ratio of 0.86 and a debt-to-equity ratio of 0.83. CVS Health has a twelve month low of $52.77 and a twelve month high of $83.25.

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

CVS Health Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, August 1st. Shareholders of record on Monday, July 22nd were given a dividend of $0.665 per share. 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 4.55%. CVS Health’s dividend payout ratio is currently 46.75%.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in CVS. Ables Iannone Moore & Associates Inc. purchased a new position in CVS Health in the 4th quarter valued at about $32,000. Creekmur Asset Management LLC acquired a new position in shares of CVS Health during the fourth quarter valued at approximately $34,000. Steph & Co. boosted its stake in shares of CVS Health by 192.0% in the first quarter. Steph & Co. now owns 438 shares of the pharmacy operator’s stock worth $35,000 after acquiring an additional 288 shares during the last quarter. Kapitalo Investimentos Ltda purchased a new stake in shares of CVS Health during the fourth quarter worth approximately $36,000. Finally, Scarborough Advisors LLC acquired a new position in CVS Health in the 4th quarter valued at $37,000. 80.66% of the stock is owned by institutional investors and hedge funds.

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.