CVS Health (NYSE:CVS) Price Target Raised to $80.00

CVS Health (NYSE:CVS) had its price objective boosted by TD Cowen from $73.00 to $80.00 in a research note released on Monday,Benzinga reports. TD Cowen currently has a buy rating on the pharmacy operator’s stock.

CVS has been the subject of several other reports. Truist Financial reissued a “buy” rating and issued a $67.00 price objective (down from $76.00) on shares of CVS Health in a research note on Wednesday, November 20th. Royal Bank of Canada lowered their price objective 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. Wells Fargo & Company upgraded shares of CVS Health from an “equal weight” rating to an “overweight” rating and increased their target price for the stock from $60.00 to $66.00 in a research report on Monday, November 18th. Deutsche Bank Aktiengesellschaft dropped their price target on shares of CVS Health from $64.00 to $63.00 and set a “hold” rating on the stock in a research note on Friday, August 9th. Finally, Barclays reduced their price objective on CVS Health from $75.00 to $71.00 and set an “overweight” rating for the company in a research report on Thursday, November 7th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and thirteen have given a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $70.33.

CVS Health Price Performance

CVS stock opened at $59.96 on Monday. The firm has a 50-day moving average of $59.30 and a two-hundred day moving average of $58.72. The firm has a market capitalization of $75.45 billion, a PE ratio of 15.22, a P/E/G ratio of 1.01 and a beta of 0.55. The company has a current ratio of 0.80, a quick ratio of 0.59 and a debt-to-equity ratio of 0.80. CVS Health has a one year low of $52.71 and a one year high of $83.25.

CVS Health (NYSE:CVS) last posted its quarterly earnings data on Wednesday, November 6th. The pharmacy operator reported $1.09 EPS for the quarter, topping analysts’ consensus estimates of $1.08 by $0.01. CVS Health had a net margin of 1.36% and a return on equity of 10.72%. The firm had revenue of $95.43 billion during the quarter, compared to analyst estimates of $92.72 billion. During the same quarter last year, the business posted $2.21 EPS. The company’s revenue was up 6.3% on a year-over-year basis. On average, analysts forecast that CVS Health will post 5.43 earnings per share for the current year.

CVS Health Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, November 1st. Investors of record on Monday, October 21st were issued a dividend of $0.665 per share. This represents a $2.66 annualized dividend and a dividend yield of 4.44%. The ex-dividend date was Monday, October 21st. CVS Health’s dividend payout ratio is currently 67.51%.

Institutional Investors Weigh In On CVS Health

Several hedge funds and other institutional investors have recently made changes to their positions in CVS. Garland Capital Management Inc. boosted its holdings in CVS Health by 0.3% in the 2nd quarter. Garland Capital Management Inc. now owns 60,810 shares of the pharmacy operator’s stock valued at $3,591,000 after purchasing an additional 160 shares during the period. Sound Income Strategies LLC boosted its stake in shares of CVS Health by 7.2% in the third quarter. Sound Income Strategies LLC now owns 2,397 shares of the pharmacy operator’s stock valued at $151,000 after buying an additional 162 shares during the period. Plimoth Trust Co. LLC grew its position in CVS Health by 0.4% during the second quarter. Plimoth Trust Co. LLC now owns 46,637 shares of the pharmacy operator’s stock worth $2,754,000 after buying an additional 174 shares in the last quarter. Hexagon Capital Partners LLC increased its stake in CVS Health by 3.5% during the 3rd quarter. Hexagon Capital Partners LLC now owns 5,268 shares of the pharmacy operator’s stock worth $331,000 after acquiring an additional 178 shares during the period. Finally, Pallas Capital Advisors LLC lifted its position in shares of CVS Health by 2.5% during the 2nd quarter. Pallas Capital Advisors LLC now owns 7,458 shares of the pharmacy operator’s stock valued at $447,000 after acquiring an additional 183 shares during the period. 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.