CVS Health (NYSE:CVS) Hits New 52-Week High - Still a Buy?

Key Points

• CVS Health shares reached a new **52-week high**, trading at **$83.41**, indicating strong market performance with significant trading volume of **826,598 shares**.
• Several analysts have set revised **price targets** for CVS Health, with Goldman Sachs initiating coverage at **$91.00**, while others raised their targets, indicating a consensus rating of **"Moderate Buy"** with a target price of **$82.57**.
• The company declared a quarterly dividend of **$0.665**, offering an annualized dividend yield of **3.2%**, with a **dividend payout ratio of 74.30%**.

Shares of CVS Health Corporation (NYSE:CVS - Get Free Report) reached a new 52-week high during trading on Tuesday . The stock traded as high as $83.41 and last traded at $83.12, with a volume of 826598 shares changing hands. The stock had previously closed at $82.48.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on CVS shares. The Goldman Sachs Group began coverage on shares of CVS Health in a research note on Tuesday, October 14th. They set a "buy" rating and a $91.00 target price on the stock. Sanford C. Bernstein increased their price target on CVS Health from $72.00 to $77.00 and gave the stock a "market perform" rating in a research report on Friday, September 5th. Wolfe Research boosted their price objective on CVS Health from $80.00 to $85.00 and gave the company an "outperform" rating in a research report on Monday, September 22nd. Barclays increased their target price on CVS Health from $80.00 to $87.00 and gave the company an "overweight" rating in a research report on Thursday, September 4th. Finally, Morgan Stanley boosted their price target on shares of CVS Health from $82.00 to $89.00 and gave the stock an "overweight" rating in a report on Tuesday, October 14th. Two equities research analysts have rated the stock with a Strong Buy rating, twenty have given a Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $82.57.

CVS Health Price Performance

The company has a debt-to-equity ratio of 0.74, a current ratio of 0.80 and a quick ratio of 0.62. The stock has a market capitalization of $105.24 billion, a price-to-earnings ratio of 23.23, a price-to-earnings-growth ratio of 0.91 and a beta of 0.60. The stock has a 50 day moving average price of $74.35 and a 200-day moving average price of $68.25.

CVS Health (NYSE:CVS - Get Free Report) last announced its quarterly earnings data on Thursday, July 31st. The pharmacy operator reported $1.81 earnings per share for the quarter, beating analysts' consensus estimates of $1.46 by $0.35. CVS Health had a return on equity of 10.51% and a net margin of 1.17%.The company had revenue of $98.92 billion for the quarter, compared to analyst estimates of $94.87 billion. During the same quarter last year, the firm posted $1.83 EPS. The firm's revenue for the quarter was up 8.4% on a year-over-year basis. CVS Health has set its FY 2025 guidance at 6.300-6.400 EPS. On average, analysts forecast that CVS Health Corporation will post 5.89 earnings per share for the current year.

CVS Health Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, November 3rd. Investors of record on Thursday, October 23rd will be issued a $0.665 dividend. This represents a $2.66 annualized dividend and a dividend yield of 3.2%. The ex-dividend date of this dividend is Thursday, October 23rd. CVS Health's dividend payout ratio (DPR) is currently 74.30%.

Insiders Place Their Bets

In other CVS Health news, Director Anne A. Finucane sold 7,500 shares of the company's stock in a transaction on Wednesday, August 20th. The stock was sold at an average price of $71.02, for a total value of $532,650.00. Following the completion of the sale, the director directly owned 22,156 shares in the company, valued at $1,573,519.12. This represents a 25.29% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 1.22% of the company's stock.

Institutional Investors Weigh In On CVS Health

Several hedge funds and other institutional investors have recently bought and sold shares of CVS. Avion Wealth boosted its holdings in CVS Health by 99.0% in the 2nd quarter. Avion Wealth now owns 380 shares of the pharmacy operator's stock valued at $26,000 after purchasing an additional 189 shares during the last quarter. Harbor Capital Advisors Inc. lifted its holdings in CVS Health by 72.1% in the third quarter. Harbor Capital Advisors Inc. now owns 339 shares of the pharmacy operator's stock valued at $26,000 after acquiring an additional 142 shares during the last quarter. Harbor Asset Planning Inc. purchased a new position in CVS Health in the second quarter worth approximately $30,000. Bell Investment Advisors Inc increased its stake in CVS Health by 119.8% during the first quarter. Bell Investment Advisors Inc now owns 455 shares of the pharmacy operator's stock worth $31,000 after acquiring an additional 248 shares during the last quarter. Finally, Front Row Advisors LLC raised its position in CVS Health by 436.5% in the second quarter. Front Row Advisors LLC now owns 456 shares of the pharmacy operator's stock valued at $31,000 after purchasing an additional 371 shares during the period. 80.66% of the stock is currently owned by institutional investors and hedge funds.

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.

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