CVS Health (NYSE:CVS) Trading 1.1% Higher – Here’s What Happened

CVS Health Co. (NYSE:CVS)’s share price traded up 1.1% during mid-day trading on Friday . The stock traded as high as $52.48 and last traded at $52.55. 3,188,072 shares traded hands during trading, a decline of 77% from the average session volume of 13,691,771 shares. The stock had previously closed at $51.96.

Wall Street Analysts Forecast Growth

CVS has been the topic of a number of recent analyst reports. StockNews.com lowered shares of CVS Health from a “hold” rating to a “sell” rating in a report on Thursday, November 14th. Royal Bank of Canada reduced their price target on CVS Health from $68.00 to $58.00 and set an “outperform” rating for the company in a report on Friday, November 15th. TD Cowen lifted their price objective on CVS Health from $73.00 to $80.00 and gave the stock a “buy” rating in a report on Monday, November 25th. Mizuho decreased their price target on shares of CVS Health from $73.00 to $66.00 and set an “outperform” rating for the company in a research report on Thursday, October 24th. Finally, Cantor Fitzgerald reaffirmed a “neutral” rating and issued a $62.00 price target on shares of CVS Health in a report on Tuesday, October 1st. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and thirteen have given a buy rating to the stock. Based on data from MarketBeat.com, CVS Health currently has an average rating of “Moderate Buy” and an average price target of $68.71.

CVS Health Stock Performance

The company has a debt-to-equity ratio of 0.80, a quick ratio of 0.59 and a current ratio of 0.80. The stock has a 50 day moving average of $51.34 and a 200 day moving average of $56.34. The stock has a market capitalization of $66.35 billion, a P/E ratio of 13.38, a P/E/G ratio of 0.72 and a beta of 0.59.

CVS Health (NYSE:CVS) last issued its quarterly earnings data on Wednesday, November 6th. The pharmacy operator reported $1.09 earnings per share for the quarter, beating the consensus estimate of $1.08 by $0.01. CVS Health had a net margin of 1.36% and a return on equity of 10.72%. The firm had revenue of $95.43 billion for the quarter, compared to the consensus estimate of $92.72 billion. During the same period last year, the firm posted $2.21 EPS. CVS Health’s quarterly revenue was up 6.3% compared to the same quarter last year. Equities analysts predict that CVS Health Co. will post 5.22 EPS for the current year.

CVS Health Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, February 3rd. Investors of record on Thursday, January 23rd will be given a $0.665 dividend. This represents a $2.66 annualized dividend and a yield of 5.05%. The ex-dividend date is Thursday, January 23rd. CVS Health’s dividend payout ratio is currently 67.51%.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the business. MidAtlantic Capital Management Inc. bought a new stake in shares of CVS Health during the third quarter valued at about $25,000. Livelsberger Financial Advisory bought a new stake in shares of CVS Health during the 3rd quarter worth about $31,000. Legacy Investment Solutions LLC acquired a new stake in shares of CVS Health in the 3rd quarter worth approximately $31,000. Reston Wealth Management LLC bought a new position in shares of CVS Health in the third quarter valued at approximately $32,000. Finally, Kathleen S. Wright Associates Inc. bought a new stake in CVS Health during the third quarter worth approximately $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.