CVS Health (NYSE:CVS) Price Target Raised to $65.00

CVS Health (NYSE:CVS) had its target price raised by Evercore ISI from $60.00 to $65.00 in a report issued on Monday morning,Benzinga reports. Evercore ISI currently has an outperform rating on the pharmacy operator’s stock.

Several other brokerages have also issued reports on CVS. Deutsche Bank Aktiengesellschaft upgraded shares of CVS Health from a “hold” rating to a “buy” rating and set a $66.00 target price for the company in a research report on Tuesday, December 3rd. TD Cowen upped their price objective on CVS Health from $73.00 to $80.00 and gave the stock a “buy” rating in a research note on Monday, November 25th. Barclays lowered their target price on CVS Health from $75.00 to $71.00 and set an “overweight” rating on the stock in a research report on Thursday, November 7th. Mizuho reduced their price target on 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 reiterated a “neutral” rating and set a $62.00 price objective on shares of CVS Health in a research note on Tuesday, October 1st. One research analyst has rated the stock with a sell rating, six have given a hold rating and thirteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $68.12.

CVS Health Trading Down 0.6 %

Shares of CVS stock opened at $57.00 on Monday. The stock has a market capitalization of $71.73 billion, a P/E ratio of 14.47, a P/E/G ratio of 0.80 and a beta of 0.59. The company has a current ratio of 0.80, a quick ratio of 0.59 and a debt-to-equity ratio of 0.80. The firm’s 50 day moving average is $51.27 and its 200 day moving average is $56.18. CVS Health has a 12-month low of $43.56 and a 12-month high of $80.75.

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

CVS Health Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, February 3rd. Shareholders of record on Thursday, January 23rd will be issued a dividend of $0.665 per share. This represents a $2.66 annualized dividend and a yield of 4.67%. The ex-dividend date of this dividend is Thursday, January 23rd. CVS Health’s dividend payout ratio is presently 67.51%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of CVS. Sound Income Strategies LLC increased its position in CVS Health by 7.2% during the third quarter. Sound Income Strategies LLC now owns 2,397 shares of the pharmacy operator’s stock worth $151,000 after purchasing an additional 162 shares during the last quarter. Hexagon Capital Partners LLC increased its holdings in shares of CVS Health by 3.5% during the 3rd quarter. Hexagon Capital Partners LLC now owns 5,268 shares of the pharmacy operator’s stock worth $331,000 after buying an additional 178 shares during the last quarter. Bruce G. Allen Investments LLC raised its position in shares of CVS Health by 13.1% in the 3rd quarter. Bruce G. Allen Investments LLC now owns 1,681 shares of the pharmacy operator’s stock worth $106,000 after buying an additional 195 shares during the period. Integrated Advisors Network LLC boosted its holdings in CVS Health by 0.7% in the third quarter. Integrated Advisors Network LLC now owns 27,625 shares of the pharmacy operator’s stock valued at $1,737,000 after acquiring an additional 200 shares during the last quarter. Finally, Widmann Financial Services Inc. increased its stake in CVS Health by 1.8% during the third quarter. Widmann Financial Services Inc. now owns 11,506 shares of the pharmacy operator’s stock worth $724,000 after acquiring an additional 200 shares during the last quarter. 80.66% of the stock is currently owned by institutional investors.

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.