CVS Health (NYSE:CVS) Trading 0.7% Higher – What’s Next?

Shares of CVS Health Co. (NYSE:CVS) traded up 0.7% during trading on Tuesday . The stock traded as high as $56.31 and last traded at $56.33. 1,691,087 shares traded hands during trading, a decline of 87% from the average session volume of 12,620,503 shares. The stock had previously closed at $55.95.

Analysts Set New Price Targets

Several research analysts recently weighed in on the company. Mizuho cut their target price on CVS Health from $73.00 to $66.00 and set an “outperform” rating on the stock in a research report on Thursday, October 24th. TD Cowen boosted their target price on CVS Health from $73.00 to $80.00 and gave the stock a “buy” rating in a report on Monday, November 25th. Deutsche Bank Aktiengesellschaft raised shares of CVS Health from a “hold” rating to a “buy” rating and set a $66.00 price target on the stock in a research report on Tuesday, December 3rd. Wells Fargo & Company raised shares of CVS Health from an “equal weight” rating to an “overweight” rating and raised their target price for the company from $60.00 to $66.00 in a research note on Monday, November 18th. Finally, Evercore ISI upped their price target on shares of CVS Health from $60.00 to $65.00 and gave the stock an “outperform” rating in a research report on Monday, January 27th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and fourteen have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $68.12.

CVS Health Price Performance

The company has a quick ratio of 0.59, a current ratio of 0.80 and a debt-to-equity ratio of 0.80. The company has a 50 day moving average of $51.16 and a two-hundred day moving average of $56.09. The firm has a market cap of $70.70 billion, a P/E ratio of 14.26, a PEG ratio of 0.62 and a beta of 0.61.

CVS Health (NYSE:CVS) last announced its earnings results on Wednesday, November 6th. The pharmacy operator reported $1.09 EPS for the quarter, beating the consensus estimate of $1.08 by $0.01. The business had revenue of $95.43 billion during the quarter, compared to the consensus estimate of $92.72 billion. CVS Health had a return on equity of 10.72% and a net margin of 1.36%. CVS Health’s revenue was up 6.3% compared to the same quarter last year. During the same period in the prior year, the business posted $2.21 earnings per share. Sell-side analysts expect that CVS Health Co. will post 5.14 EPS for the current year.

CVS Health Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, February 3rd. Stockholders of record on Thursday, January 23rd were issued 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 4.73%. CVS Health’s payout ratio is currently 67.51%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the business. AMF Tjanstepension AB boosted its stake in shares of CVS Health by 124.1% during the 3rd quarter. AMF Tjanstepension AB now owns 61,744 shares of the pharmacy operator’s stock valued at $3,882,000 after buying an additional 34,198 shares during the period. Czech National Bank boosted its position in CVS Health by 7.2% during the third quarter. Czech National Bank now owns 256,430 shares of the pharmacy operator’s stock valued at $16,124,000 after purchasing an additional 17,206 shares during the last quarter. GAMMA Investing LLC increased its position in CVS Health by 14.6% in the 3rd quarter. GAMMA Investing LLC now owns 10,347 shares of the pharmacy operator’s stock worth $651,000 after purchasing an additional 1,315 shares during the last quarter. Value Partners Investments Inc. raised its stake in shares of CVS Health by 0.4% during the 3rd quarter. Value Partners Investments Inc. now owns 1,195,276 shares of the pharmacy operator’s stock worth $75,159,000 after purchasing an additional 4,354 shares in the last quarter. Finally, City Center Advisors LLC grew its stake in shares of CVS Health by 64.3% in the 3rd quarter. City Center Advisors LLC now owns 11,546 shares of the pharmacy operator’s stock valued at $726,000 after buying an additional 4,519 shares in 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.