JPMorgan Chase & Co. Issues Positive Forecast for CVS Health (NYSE:CVS) Stock Price

CVS Health (NYSE:CVS) had its price objective lifted by JPMorgan Chase & Co. from $80.00 to $81.00 in a research report released on Tuesday,Benzinga reports. The brokerage currently has an overweight rating on the pharmacy operator’s stock.

A number of other research analysts have also recently weighed in on CVS. Truist Financial boosted their target price on shares of CVS Health from $60.00 to $76.00 and gave the company a “buy” rating in a research note on Thursday, February 13th. TD Cowen upped their price objective on CVS Health from $73.00 to $80.00 and gave the company a “buy” rating in a research note on Monday, November 25th. UBS Group decreased their target price on CVS Health from $62.00 to $59.00 and set a “neutral” rating for the company in a research report on Tuesday, February 11th. Piper Sandler dropped their price target on CVS Health from $72.00 to $64.00 and set an “overweight” rating on the stock in a research report on Monday, November 25th. Finally, Edward Jones raised CVS Health from a “hold” rating to a “buy” rating in a report on Thursday, January 30th. Four analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $70.00.

CVS Health Price Performance

CVS Health stock opened at $65.20 on Tuesday. The stock has a market cap of $82.21 billion, a P/E ratio of 17.81, a P/E/G ratio of 0.98 and a beta of 0.61. The company has a quick ratio of 0.60, a current ratio of 0.81 and a debt-to-equity ratio of 0.80. The company’s 50 day moving average price is $52.11 and its two-hundred day moving average price is $56.18. CVS Health has a 52 week low of $43.56 and a 52 week high of $80.75.

CVS Health (NYSE:CVS) last announced its earnings results on Wednesday, February 12th. The pharmacy operator reported $1.19 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.89 by $0.30. CVS Health had a return on equity of 9.11% and a net margin of 1.24%. On average, equities analysts predict that CVS Health will post 5.91 earnings per share for the current year.

CVS Health Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, February 3rd. Stockholders of record on Thursday, January 23rd were issued a $0.665 dividend. The ex-dividend date was Thursday, January 23rd. This represents a $2.66 annualized dividend and a dividend yield of 4.08%. CVS Health’s payout ratio is currently 72.68%.

Insider Activity at CVS Health

In other CVS Health news, Director Michael F. Mahoney bought 30,000 shares of the firm’s stock in a transaction on Tuesday, February 18th. The shares were acquired at an average cost of $66.70 per share, for a total transaction of $2,001,000.00. Following the purchase, the director now directly owns 39,356 shares of the company’s stock, valued at $2,625,045.20. The trade was a 320.65 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.24% of the stock is owned by corporate insiders.

Institutional Trading of CVS Health

A number of hedge funds have recently made changes to their positions in CVS. McIlrath & Eck LLC lifted its holdings in CVS Health by 32.6% in the 4th quarter. McIlrath & Eck LLC now owns 707 shares of the pharmacy operator’s stock worth $32,000 after purchasing an additional 174 shares in the last quarter. Coppell Advisory Solutions LLC boosted its position in shares of CVS Health by 17.3% during the fourth quarter. Coppell Advisory Solutions LLC now owns 1,282 shares of the pharmacy operator’s stock worth $56,000 after acquiring an additional 189 shares during the last quarter. Integrated Advisors Network LLC grew its stake in CVS Health by 0.7% during 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 in the last quarter. Widmann Financial Services Inc. increased its holdings in CVS Health by 1.8% in the 3rd quarter. Widmann Financial Services Inc. now owns 11,506 shares of the pharmacy operator’s stock valued at $724,000 after acquiring an additional 200 shares during the last quarter. Finally, EagleClaw Capital Managment LLC lifted its stake in CVS Health by 3.4% in the 4th quarter. EagleClaw Capital Managment LLC now owns 6,135 shares of the pharmacy operator’s stock worth $275,000 after purchasing an additional 200 shares in the last quarter. 80.66% of the stock is 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.