CVS Health Corp (NYSE:CVS) declared a quarterly dividend on Thursday, January 2nd, RTT News reports. Shareholders of record on Thursday, January 23rd will be given a dividend of 0.50 per share by the pharmacy operator on Monday, February 3rd. This represents a $2.00 dividend on an annualized basis and a dividend yield of 2.63%. The ex-dividend date of this dividend is Wednesday, January 22nd.
CVS Health has a payout ratio of 28.0% indicating that its dividend is sufficiently covered by earnings. Research analysts expect CVS Health to earn $7.15 per share next year, which means the company should continue to be able to cover its $2.00 annual dividend with an expected future payout ratio of 28.0%.
CVS stock opened at $76.02 on Monday. CVS Health has a one year low of $51.72 and a one year high of $77.03. The company’s fifty day moving average price is $74.17 and its 200-day moving average price is $65.54. The company has a debt-to-equity ratio of 1.32, a quick ratio of 0.61 and a current ratio of 0.92. The company has a market capitalization of $98.90 billion, a PE ratio of 22.49, a price-to-earnings-growth ratio of 1.62 and a beta of 0.89.
CVS Health (NYSE:CVS) last released its earnings results on Wednesday, November 6th. The pharmacy operator reported $1.84 EPS for the quarter, topping the consensus estimate of $1.77 by $0.07. CVS Health had a net margin of 1.83% and a return on equity of 15.45%. The firm had revenue of $64.81 billion for the quarter, compared to the consensus estimate of $62.99 billion. During the same quarter in the previous year, the firm earned $1.73 earnings per share. The company’s quarterly revenue was up 36.5% compared to the same quarter last year. On average, research analysts predict that CVS Health will post 7.03 EPS for the current fiscal year.
In other CVS Health news, EVP Troyen A. Brennan sold 23,604 shares of the stock in a transaction dated Monday, November 4th. The shares were sold at an average price of $68.00, for a total transaction of $1,605,072.00. Following the completion of the sale, the executive vice president now directly owns 107,921 shares of the company’s stock, valued at $7,338,628. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Karen S. Lynch sold 80,143 shares of the stock in a transaction dated Monday, November 18th. The shares were sold at an average price of $75.00, for a total transaction of $6,010,725.00. Following the sale, the executive vice president now directly owns 41,831 shares of the company’s stock, valued at $3,137,325. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 427,786 shares of company stock worth $31,726,338. 0.53% of the stock is owned by company insiders.
Several research firms have recently commented on CVS. JPMorgan Chase & Co. boosted their target price on shares of CVS Health from $88.00 to $97.00 and gave the stock an “overweight” rating in a report on Thursday, December 19th. Morgan Stanley boosted their target price on shares of CVS Health from $74.00 to $77.00 and gave the stock an “overweight” rating in a report on Thursday, September 26th. ValuEngine downgraded shares of CVS Health from a “sell” rating to a “strong sell” rating in a report on Saturday. Royal Bank of Canada began coverage on shares of CVS Health in a report on Friday, September 27th. They issued an “outperform” rating and a $85.00 target price on the stock. Finally, Raymond James reissued a “strong-buy” rating and issued a $90.00 target price (up previously from $80.00) on shares of CVS Health in a report on Wednesday, December 4th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating, seventeen have given a buy rating and one has given a strong buy rating to the stock. CVS Health presently has an average rating of “Buy” and a consensus price target of $77.43.
About CVS Health
CVS Health Corporation provides health services and plans in the United States. Its Pharmacy Services segment offers pharmacy benefit management solutions, such as plan design and administration, formulary management, retail pharmacy network management, mail order pharmacy, specialty pharmacy and infusion, Medicare Part D, clinical, disease management, and medical spend management services.
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