CVS Health (NYSE:CVS) Price Target Raised to $76.00

CVS Health (NYSE:CVS) had its target price lifted by Truist Financial from $60.00 to $76.00 in a report released on Thursday,Benzinga reports. Truist Financial currently has a buy rating on the pharmacy operator’s stock.

CVS has been the topic of several other research reports. Wells Fargo & Company raised shares of CVS Health from an “equal weight” rating to an “overweight” rating and increased their price target for the stock from $60.00 to $66.00 in a research report on Monday, November 18th. Leerink Partners upgraded CVS Health from a “market perform” rating to an “outperform” rating and lifted their price objective for the company from $55.00 to $75.00 in a research note on Thursday. UBS Group cut their target price on shares of CVS Health from $62.00 to $59.00 and set a “neutral” rating on the stock in a research note on Tuesday. Edward Jones upgraded shares of CVS Health from a “hold” rating to a “buy” rating in a research note on Thursday, January 30th. Finally, Deutsche Bank Aktiengesellschaft raised shares of CVS Health from a “hold” rating to a “buy” rating and set a $66.00 price objective on the stock in a research report on Tuesday, December 3rd. Five research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $70.28.

CVS Health Stock Up 4.9 %

CVS stock opened at $66.35 on Thursday. CVS Health has a one year low of $43.56 and a one year high of $80.75. The firm has a market cap of $83.49 billion, a PE ratio of 16.84, a PEG ratio of 0.60 and a beta of 0.61. The firm’s 50 day moving average price is $50.71 and its 200-day moving average price is $55.94. The company has a debt-to-equity ratio of 0.80, a quick ratio of 0.59 and a current ratio of 0.80.

CVS Health (NYSE:CVS) last announced its quarterly earnings results on Wednesday, February 12th. The pharmacy operator reported $1.19 earnings per share for the quarter, beating analysts’ consensus estimates of $0.89 by $0.30. CVS Health had a net margin of 1.36% and a return on equity of 10.72%. On average, equities research analysts anticipate that CVS Health will post 5.14 EPS for the current year.

CVS Health Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, February 3rd. Investors of record on Thursday, January 23rd were paid a $0.665 dividend. The ex-dividend date of this dividend was Thursday, January 23rd. This represents a $2.66 dividend on an annualized basis and a dividend yield of 4.01%. CVS Health’s dividend payout ratio (DPR) is presently 72.68%.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the business. Norges Bank acquired a new stake in shares of CVS Health in the fourth quarter valued at about $839,574,000. Davis Selected Advisers boosted its stake in shares of CVS Health by 2,998.1% during the 4th quarter. Davis Selected Advisers now owns 11,385,950 shares of the pharmacy operator’s stock worth $511,115,000 after acquiring an additional 11,018,438 shares in the last quarter. Dodge & Cox grew its holdings in shares of CVS Health by 11.2% in the 4th quarter. Dodge & Cox now owns 70,105,899 shares of the pharmacy operator’s stock worth $3,147,054,000 after acquiring an additional 7,075,209 shares during the period. Pzena Investment Management LLC increased its stake in CVS Health by 49.3% in the 4th quarter. Pzena Investment Management LLC now owns 19,610,579 shares of the pharmacy operator’s stock valued at $880,319,000 after purchasing an additional 6,475,271 shares in the last quarter. Finally, Invesco Ltd. raised its holdings in CVS Health by 30.1% during the fourth quarter. Invesco Ltd. now owns 18,038,089 shares of the pharmacy operator’s stock worth $809,730,000 after purchasing an additional 4,173,243 shares during the last quarter. Hedge funds and other institutional investors own 80.66% of the company’s stock.

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.