CVS Health (NYSE:CVS) Stock Price Up 6.3% - Time to Buy?

CVS Health Co. (NYSE:CVS - Get Free Report) shares shot up 6.3% during mid-day trading on Monday . The company traded as high as $51.05 and last traded at $51.03. 8,925,225 shares traded hands during trading, a decline of 29% from the average session volume of 12,486,032 shares. The stock had previously closed at $48.01.

Wall Street Analyst Weigh In

CVS has been the subject of a number of recent analyst reports. Deutsche Bank Aktiengesellschaft raised CVS Health from a "hold" rating to a "buy" rating and set a $66.00 target price for the company in a report on Tuesday, December 3rd. StockNews.com lowered shares of CVS Health from a "hold" rating to a "sell" rating in a report on Thursday, November 14th. Royal Bank of Canada cut their price target on shares of CVS Health from $68.00 to $58.00 and set an "outperform" rating for the company in a report on Friday, November 15th. Cantor Fitzgerald reaffirmed a "neutral" rating and issued a $62.00 price target on shares of CVS Health in a report on Tuesday, October 1st. Finally, UBS Group lifted their price objective on CVS Health from $60.00 to $62.00 and gave the company a "neutral" rating in a research note on Thursday, November 7th. One investment 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. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $68.71.

CVS Health Price Performance

The firm's 50-day moving average is $51.76 and its 200-day moving average is $56.49. The company has a quick ratio of 0.59, a current ratio of 0.80 and a debt-to-equity ratio of 0.80. The company has a market cap of $64.86 billion, a PE ratio of 13.08, a PEG ratio of 0.85 and a beta of 0.59.

CVS Health (NYSE:CVS - Get Free Report) last released its quarterly earnings results on Wednesday, November 6th. The pharmacy operator reported $1.09 earnings per share for the quarter, beating the consensus estimate of $1.08 by $0.01. The company had revenue of $95.43 billion for the quarter, compared to analyst estimates of $92.72 billion. CVS Health had a return on equity of 10.72% and a net margin of 1.36%. The firm's revenue was up 6.3% on a year-over-year basis. During the same period in the previous year, the company posted $2.21 earnings per share. On average, equities analysts anticipate that CVS Health Co. will post 5.32 EPS for the current year.

CVS Health Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, February 3rd. Shareholders of record on Thursday, January 23rd will be paid a dividend of $0.665 per share. This represents a $2.66 dividend on an annualized basis and a dividend yield of 5.16%. The ex-dividend date of this dividend is Thursday, January 23rd. CVS Health's dividend payout ratio is 67.51%.

Institutional Investors Weigh In On CVS Health

Institutional investors have recently modified their holdings of the stock. MidAtlantic Capital Management Inc. purchased a new stake in CVS Health during the 3rd quarter valued at $25,000. Livelsberger Financial Advisory purchased a new stake in shares of CVS Health during the third quarter valued at $31,000. Legacy Investment Solutions LLC purchased a new position in CVS Health in the 3rd quarter worth about $31,000. Reston Wealth Management LLC bought a new position in CVS Health during the 3rd quarter valued at about $32,000. Finally, Kathleen S. Wright Associates Inc. purchased a new stake in shares of CVS Health during the 3rd quarter valued at about $33,000. 80.66% of the stock is owned by hedge funds and other institutional investors.

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.