Piper Sandler Issues Pessimistic Forecast for CVS Health (NYSE:CVS) Stock Price

CVS Health (NYSE:CVS) had its price target trimmed by Piper Sandler from $72.00 to $64.00 in a report released on Monday morning,Benzinga reports. The brokerage currently has an overweight rating on the pharmacy operator’s stock.

A number of other equities analysts also recently commented on the company. UBS Group raised their price objective on CVS Health from $60.00 to $62.00 and gave the stock a “neutral” rating in a report on Thursday, November 7th. TD Cowen upgraded shares of CVS Health from a “hold” rating to a “buy” rating and raised their price target for the company from $59.00 to $85.00 in a report on Friday, October 4th. Royal Bank of Canada reduced their price target 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. Cantor Fitzgerald reissued a “neutral” rating and issued a $62.00 price objective on shares of CVS Health in a research report on Tuesday, October 1st. Finally, Truist Financial restated a “buy” rating and set a $67.00 target price (down previously from $76.00) on shares of CVS Health in a report on Wednesday, November 20th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and thirteen have issued a buy rating to the stock. Based on data from MarketBeat.com, CVS Health presently has a consensus rating of “Moderate Buy” and an average target price of $70.33.

CVS Health Price Performance

CVS Health stock opened at $59.96 on Monday. CVS Health has a 1 year low of $52.71 and a 1 year high of $83.25. The company has a debt-to-equity ratio of 0.80, a quick ratio of 0.59 and a current ratio of 0.80. The firm has a 50 day moving average price of $59.30 and a 200 day moving average price of $58.72. The company has a market cap of $75.45 billion, a price-to-earnings ratio of 15.22, a PEG ratio of 1.01 and a beta of 0.55.

CVS Health (NYSE:CVS) last announced its quarterly earnings data on Wednesday, November 6th. The pharmacy operator reported $1.09 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.08 by $0.01. The company had revenue of $95.43 billion during the quarter, compared to analysts’ expectations of $92.72 billion. CVS Health had a net margin of 1.36% and a return on equity of 10.72%. The business’s quarterly revenue was up 6.3% compared to the same quarter last year. During the same period in the previous year, the company earned $2.21 EPS. Sell-side analysts predict that CVS Health will post 5.43 earnings per share for the current year.

CVS Health Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, November 1st. Shareholders of record on Monday, October 21st were given a $0.665 dividend. This represents a $2.66 dividend on an annualized basis and a dividend yield of 4.44%. The ex-dividend date of this dividend was Monday, October 21st. CVS Health’s payout ratio is 67.51%.

Institutional Trading of CVS Health

Institutional investors have recently added to or reduced their stakes in the stock. Pzena Investment Management LLC increased its position in shares of CVS Health by 132.9% in the 2nd quarter. Pzena Investment Management LLC now owns 12,936,388 shares of the pharmacy operator’s stock worth $764,023,000 after purchasing an additional 7,382,931 shares during the last quarter. Hotchkis & Wiley Capital Management LLC grew its stake in CVS Health by 34.8% in the third quarter. Hotchkis & Wiley Capital Management LLC now owns 11,897,034 shares of the pharmacy operator’s stock worth $748,085,000 after purchasing an additional 3,071,613 shares in the last quarter. State Street Corp raised its stake in CVS Health by 3.6% during the third quarter. State Street Corp now owns 56,527,909 shares of the pharmacy operator’s stock valued at $3,554,475,000 after buying an additional 1,989,066 shares in the last quarter. TOMS Capital Investment Management LP bought a new position in CVS Health during the 3rd quarter worth approximately $121,987,000. Finally, Pathway Financial Advisers LLC increased its holdings in shares of CVS Health by 5,864.2% in the 3rd quarter. Pathway Financial Advisers LLC now owns 1,730,343 shares of the pharmacy operator’s stock valued at $108,804,000 after acquiring an additional 1,701,331 shares during the last quarter. 80.66% of the stock is owned by institutional investors and hedge funds.

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.