CVS Health (NYSE:CVS) Price Target Raised to 70.00

CVS Health (NYSE:CVS) had its target price raised by Wolfe Research from 67.00 to 70.00 in a report issued on Tuesday. The brokerage currently has an overweight rating on the pharmacy operator’s stock.

A number of other equities analysts also recently issued reports on CVS. Evercore ISI increased their price target on CVS Health from $60.00 to $65.00 and gave the stock an “outperform” rating in a research report on Monday, January 27th. Piper Sandler dropped their price target on shares of CVS Health from $72.00 to $64.00 and set an “overweight” rating on the stock in a research note on Monday, November 25th. StockNews.com cut shares of CVS Health from a “hold” rating to a “sell” rating in a research report on Thursday, November 14th. TD Cowen boosted their target price on shares of CVS Health from $73.00 to $80.00 and gave the stock a “buy” rating in a research note on Monday, November 25th. Finally, Deutsche Bank Aktiengesellschaft raised shares of CVS Health from a “hold” rating to a “buy” rating and set a $66.00 price target on the stock in a research note on Tuesday, December 3rd. One research analyst has rated the stock with a sell rating, six have issued a hold rating and fifteen have given a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $67.78.

CVS Health Trading Up 1.3 %

Shares of CVS Health stock opened at $55.01 on Tuesday. CVS Health has a fifty-two week low of $43.56 and a fifty-two week high of $80.75. 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 company has a market cap of $69.23 billion, a P/E ratio of 13.96, a price-to-earnings-growth ratio of 0.60 and a beta of 0.61. The firm has a 50-day simple moving average of $50.69 and a two-hundred day simple moving average of $55.95.

CVS Health Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, February 3rd. Investors of record on Thursday, January 23rd were given a dividend of $0.665 per share. This represents a $2.66 annualized dividend and a yield of 4.84%. The ex-dividend date was Thursday, January 23rd. CVS Health’s payout ratio is currently 67.51%.

Institutional Trading of CVS Health

Hedge funds have recently made changes to their positions in the company. State Street Corp lifted its holdings in CVS Health by 3.6% in the third quarter. State Street Corp now owns 56,527,909 shares of the pharmacy operator’s stock valued at $3,554,475,000 after acquiring an additional 1,989,066 shares during the last quarter. Geode Capital Management LLC lifted its stake in shares of CVS Health by 1.8% in the 3rd quarter. Geode Capital Management LLC now owns 26,361,673 shares of the pharmacy operator’s stock valued at $1,651,997,000 after purchasing an additional 461,569 shares during the last quarter. Pzena Investment Management LLC grew its holdings in shares of CVS Health by 49.3% during the 4th quarter. Pzena Investment Management LLC now owns 19,610,579 shares of the pharmacy operator’s stock worth $880,319,000 after purchasing an additional 6,475,271 shares during the period. Charles Schwab Investment Management Inc. raised its holdings in CVS Health by 5.8% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 12,918,949 shares of the pharmacy operator’s stock valued at $579,932,000 after buying an additional 710,281 shares during the period. Finally, Hotchkis & Wiley Capital Management LLC lifted its position in CVS Health by 34.8% in the third quarter. Hotchkis & Wiley Capital Management LLC now owns 11,897,034 shares of the pharmacy operator’s stock valued at $748,085,000 after buying an additional 3,071,613 shares during the last quarter. Hedge funds and other institutional investors 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.