CVS Health (NYSE:CVS) Shares Up 1.3% – What’s Next?

CVS Health Co. (NYSE:CVS) was up 1.3% on Wednesday . The company traded as high as $58.46 and last traded at $58.06. Approximately 3,437,971 shares changed hands during mid-day trading, a decline of 74% from the average daily volume of 13,171,708 shares. The stock had previously closed at $57.33.

Analyst Ratings Changes

A number of brokerages recently commented on CVS. Mizuho decreased 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. StockNews.com lowered CVS Health from a “hold” rating to a “sell” rating in a research report on Thursday, November 14th. Evercore ISI increased their price target on shares of CVS Health from $60.00 to $65.00 and gave the company an “outperform” rating in a research report on Monday. Royal Bank of Canada lowered their price objective on shares of CVS Health from $68.00 to $58.00 and set an “outperform” rating on the stock in a research report on Friday, November 15th. Finally, UBS Group increased their target price on shares of CVS Health from $60.00 to $62.00 and gave the company a “neutral” rating in a research report on Thursday, November 7th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and fourteen have assigned a buy rating to the company. Based on data from MarketBeat, CVS Health presently has an average rating of “Moderate Buy” and an average price target of $68.12.

CVS Health Price Performance

The business’s 50-day moving average price is $51.27 and its 200 day moving average price is $56.17. The company has a market capitalization of $71.13 billion, a P/E ratio of 14.35, a price-to-earnings-growth ratio of 0.62 and a beta of 0.59. The company has a quick ratio of 0.59, a current ratio of 0.80 and a debt-to-equity ratio of 0.80.

CVS Health (NYSE:CVS) last released its quarterly earnings results on Wednesday, November 6th. The pharmacy operator reported $1.09 EPS for the quarter, beating analysts’ consensus estimates 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 during the quarter, compared to analyst estimates of $92.72 billion. During the same period in the previous year, the business earned $2.21 EPS. The business’s revenue for the quarter was up 6.3% on a year-over-year basis. Analysts anticipate that CVS Health Co. will post 5.18 EPS for the current fiscal year.

CVS Health Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, February 3rd. Stockholders of record on Thursday, January 23rd will be given a dividend of $0.665 per share. The ex-dividend date is Thursday, January 23rd. This represents a $2.66 dividend on an annualized basis and a dividend yield of 4.71%. CVS Health’s dividend payout ratio (DPR) is presently 67.51%.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. MidAtlantic Capital Management Inc. purchased a new position in CVS Health in the 3rd quarter worth approximately $25,000. Ridgewood Investments LLC grew its position in CVS Health by 255.7% in the fourth quarter. Ridgewood Investments LLC now owns 626 shares of the pharmacy operator’s stock worth $28,000 after acquiring an additional 450 shares in the last quarter. Stonebridge Financial Group LLC bought a new position in CVS Health in the fourth quarter valued at $28,000. Livelsberger Financial Advisory purchased a new stake in CVS Health during the third quarter valued at about $31,000. Finally, Legacy Investment Solutions LLC purchased a new position in shares of CVS Health in the 3rd quarter worth about $31,000. 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.