CVS Health (NYSE:CVS) Upgraded at Wells Fargo & Company

Wells Fargo & Company upgraded shares of CVS Health (NYSE:CVS) from an equal weight rating to an overweight rating in a report issued on Monday morning, Marketbeat.com reports. They currently have $66.00 target price on the pharmacy operator’s stock, up from their prior target price of $60.00.

Several other analysts have also commented on CVS. TD Cowen upgraded shares of CVS Health from a “hold” rating to a “buy” rating and raised their price objective for the stock from $59.00 to $85.00 in a report on Friday, October 4th. Mizuho dropped their price target 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. Deutsche Bank Aktiengesellschaft lowered their price objective on CVS Health from $64.00 to $63.00 and set a “hold” rating for the company in a research report on Friday, August 9th. UBS Group increased their price target on shares of CVS Health from $60.00 to $62.00 and gave the stock a “neutral” rating in a research note on Thursday, November 7th. Finally, Truist Financial boosted their price objective on shares of CVS Health from $66.00 to $76.00 and gave the stock a “buy” rating in a research note on Friday, October 11th. One analyst has rated the stock with a sell rating, seven have given a hold rating and thirteen have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $72.28.

CVS Health Trading Up 1.9 %

Shares of CVS stock opened at $56.83 on Monday. The firm has a market cap of $71.52 billion, a P/E ratio of 14.42, a price-to-earnings-growth ratio of 0.92 and a beta of 0.55. The company has a quick ratio of 0.59, a current ratio of 0.80 and a debt-to-equity ratio of 0.80. CVS Health has a 12-month low of $52.71 and a 12-month high of $83.25. The business has a 50-day moving average price of $59.18 and a two-hundred day moving average price of $58.61.

CVS Health (NYSE:CVS) last announced its quarterly earnings data on Wednesday, November 6th. The pharmacy operator reported $1.09 earnings per share for the quarter, beating the consensus estimate of $1.08 by $0.01. The firm 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%. The business’s revenue was up 6.3% on a year-over-year basis. During the same quarter in the previous year, the company posted $2.21 earnings per share. Equities analysts anticipate that CVS Health will post 5.48 EPS for the current fiscal year.

CVS Health Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, November 1st. Stockholders of record on Monday, October 21st were given a dividend of $0.665 per share. This represents a $2.66 dividend on an annualized basis and a dividend yield of 4.68%. The ex-dividend date was Monday, October 21st. CVS Health’s dividend payout ratio (DPR) is presently 67.51%.

Hedge Funds Weigh In On CVS Health

A number of hedge funds have recently bought and sold shares of the business. MidAtlantic Capital Management Inc. acquired a new stake in CVS Health in the 3rd quarter valued at $25,000. Livelsberger Financial Advisory acquired a new stake in shares of CVS Health in the third quarter valued at about $31,000. Legacy Investment Solutions LLC purchased a new stake in shares of CVS Health during the third quarter worth about $31,000. Reston Wealth Management LLC acquired a new position in shares of CVS Health during the 3rd quarter worth about $32,000. Finally, First Community Trust NA boosted its holdings in CVS Health by 116.2% in the 2nd quarter. First Community Trust NA now owns 562 shares of the pharmacy operator’s stock worth $33,000 after buying an additional 302 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.