CVS Health Co. (NYSE:CVS - Get Free Report) has been assigned a consensus recommendation of "Moderate Buy" from the fifteen brokerages that are presently covering the firm, MarketBeat Ratings reports. Three analysts have rated the stock with a hold recommendation and twelve have issued a buy recommendation on the company. The average 1-year price objective among analysts that have covered the stock in the last year is $89.44.
Several analysts have recently commented on the stock. Royal Bank of Canada reduced their price objective on shares of CVS Health from $86.00 to $84.00 and set an "outperform" rating for the company in a research report on Thursday, February 8th. SVB Leerink initiated coverage on shares of CVS Health in a research note on Monday, February 26th. They issued an "outperform" rating and a $88.00 price target for the company. Wells Fargo & Company reduced their target price on CVS Health from $83.00 to $76.00 and set an "equal weight" rating for the company in a research note on Monday, April 8th. Piper Sandler increased their price target on CVS Health from $93.00 to $94.00 and gave the stock an "overweight" rating in a report on Friday, March 15th. Finally, Barclays initiated coverage on CVS Health in a report on Wednesday, March 6th. They set an "equal weight" rating and a $78.00 price objective for the company.
Read Our Latest Report on CVS
Insider Buying and Selling
In related news, EVP Prem S. Shah sold 29,473 shares of CVS Health stock in a transaction on Friday, February 16th. The shares were sold at an average price of $76.95, for a total value of $2,267,947.35. Following the transaction, the executive vice president now owns 39,765 shares in the company, valued at approximately $3,059,916.75. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 0.24% of the stock is currently owned by corporate insiders.
Hedge Funds Weigh In On CVS Health
Hedge funds and other institutional investors have recently modified their holdings of the company. Live Oak Investment Partners purchased a new stake in shares of CVS Health in the 4th quarter worth about $25,000. Atticus Wealth Management LLC lifted its stake in shares of CVS Health by 149.0% in the 4th quarter. Atticus Wealth Management LLC now owns 366 shares of the pharmacy operator's stock valued at $29,000 after purchasing an additional 219 shares during the period. USA Financial Formulas grew its stake in CVS Health by 573.2% in the fourth quarter. USA Financial Formulas now owns 377 shares of the pharmacy operator's stock worth $30,000 after purchasing an additional 321 shares during the period. Cornerstone Planning Group LLC raised its holdings in CVS Health by 111.5% in the third quarter. Cornerstone Planning Group LLC now owns 461 shares of the pharmacy operator's stock worth $32,000 after purchasing an additional 243 shares in the last quarter. Finally, Ables Iannone Moore & Associates Inc. purchased a new position in CVS Health during the fourth quarter valued at $32,000. 80.66% of the stock is owned by institutional investors.
CVS Health Trading Up 1.5 %
NYSE CVS traded up $1.02 on Friday, reaching $69.75. The company had a trading volume of 7,771,294 shares, compared to its average volume of 10,854,582. The firm has a market cap of $87.92 billion, a price-to-earnings ratio of 10.75, a P/E/G ratio of 0.91 and a beta of 0.52. CVS Health has a fifty-two week low of $64.41 and a fifty-two week high of $83.25. The business has a 50 day moving average of $75.42 and a two-hundred day moving average of $73.70. The company has a debt-to-equity ratio of 0.77, a current ratio of 0.86 and a quick ratio of 0.63.
CVS Health (NYSE:CVS - Get Free Report) last released its earnings results on Wednesday, February 7th. The pharmacy operator reported $2.12 earnings per share for the quarter, beating analysts' consensus estimates of $2.01 by $0.11. CVS Health had a net margin of 2.33% and a return on equity of 15.25%. The business had revenue of $93.81 billion during the quarter, compared to the consensus estimate of $90.58 billion. During the same quarter in the prior year, the firm posted $1.99 EPS. The company's revenue for the quarter was up 11.9% compared to the same quarter last year. Analysts forecast that CVS Health will post 8.32 EPS for the current year.
CVS Health Announces Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 1st. Stockholders of record on Monday, April 22nd will be issued a $0.665 dividend. This represents a $2.66 dividend on an annualized basis and a dividend yield of 3.81%. The ex-dividend date of this dividend is Friday, April 19th. CVS Health's payout ratio is currently 41.18%.
CVS Health Company Profile
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Get Free ReportCVS 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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