CVS Health (NYSE:CVS) Price Target Lowered to $71.00 at Barclays

CVS Health (NYSE:CVS) had its price target cut by Barclays from $75.00 to $71.00 in a research note issued to investors on Thursday morning,Benzinga reports. They currently have an overweight rating on the pharmacy operator’s stock.

A number of other brokerages have also issued reports on CVS. Royal Bank of Canada reissued an “outperform” rating and set a $68.00 target price on shares of CVS Health in a research note on Wednesday, September 4th. Cantor Fitzgerald restated a “neutral” rating and issued a $62.00 target price on shares of CVS Health in a research note on Tuesday, October 1st. Deutsche Bank Aktiengesellschaft dropped their target price on CVS Health from $64.00 to $63.00 and set a “hold” rating on the stock in a research report on Friday, August 9th. Evercore ISI boosted their price target on CVS Health from $62.00 to $75.00 and gave the company an “outperform” rating in a research note on Tuesday, October 8th. Finally, Mizuho dropped their price objective on CVS Health from $73.00 to $66.00 and set an “outperform” rating on the stock in a report on Thursday, October 24th. Nine analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $73.00.

CVS Health Stock Performance

Shares of CVS stock opened at $55.54 on Thursday. The company has a market capitalization of $69.87 billion, a price-to-earnings ratio of 14.10, a P/E/G ratio of 0.94 and a beta of 0.55. 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 0.80, a quick ratio of 0.66 and a debt-to-equity ratio of 0.80. The stock’s fifty day simple moving average is $59.56 and its 200-day simple moving average is $59.19.

CVS Health (NYSE:CVS) last issued its earnings results on Wednesday, November 6th. The pharmacy operator reported $1.09 earnings per share for the quarter, beating analysts’ consensus estimates of $1.08 by $0.01. The company had revenue of $95.43 billion for the quarter, compared to the consensus estimate of $92.72 billion. CVS Health had a return on equity of 10.72% and a net margin of 1.36%. The firm’s quarterly revenue was up 6.3% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.21 EPS. On average, sell-side analysts predict that CVS Health will post 6.18 earnings per share for the current fiscal year.

CVS Health Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, November 1st. Investors of record on Monday, October 21st were given a dividend of $0.665 per share. The ex-dividend date of this dividend was Monday, October 21st. This represents a $2.66 annualized dividend and a dividend yield of 4.79%. CVS Health’s dividend payout ratio is presently 67.51%.

Institutional Trading of CVS Health

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. MidAtlantic Capital Management Inc. bought a new stake in CVS Health in the 3rd quarter valued at $25,000. Livelsberger Financial Advisory bought a new stake in shares of CVS Health in the third quarter valued at about $31,000. Reston Wealth Management LLC acquired a new stake in CVS Health during the third quarter worth about $32,000. First Community Trust NA increased its stake in CVS Health by 116.2% during the second quarter. First Community Trust NA now owns 562 shares of the pharmacy operator’s stock valued at $33,000 after acquiring an additional 302 shares during the period. Finally, Kathleen S. Wright Associates Inc. acquired a new position in shares of CVS Health in the third quarter valued at $33,000. Institutional investors and hedge funds own 80.66% of the company’s stock.

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.