CVS Health (NYSE:CVS) Shares Up 2.9% – Still a Buy?

CVS Health Co. (NYSE:CVSGet Free Report) was up 2.9% on Thursday . The stock traded as high as $53.95 and last traded at $53.85. Approximately 3,102,539 shares traded hands during mid-day trading, a decline of 76% from the average daily volume of 13,178,004 shares. The stock had previously closed at $52.33.

Analyst Upgrades and Downgrades

Several brokerages recently commented on CVS. StockNews.com downgraded CVS Health from a “hold” rating to a “sell” rating in a report on Thursday, November 14th. Cantor Fitzgerald reissued a “neutral” rating and set a $62.00 target price on shares of CVS Health in a research report on Tuesday, October 1st. Evercore ISI lifted their price target on shares of CVS Health from $62.00 to $75.00 and gave the stock an “outperform” rating in a research note on Tuesday, October 8th. Mizuho decreased their price objective on shares of CVS Health from $73.00 to $66.00 and set an “outperform” rating for the company in a research report on Thursday, October 24th. Finally, Wells Fargo & Company upgraded CVS Health from an “equal weight” rating to an “overweight” rating and lifted their price objective for the stock from $60.00 to $66.00 in a report on Monday, November 18th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and thirteen have given a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $68.71.

Check Out Our Latest Stock Report on CVS

CVS Health Price Performance

The company has a market capitalization of $68.84 billion, a P/E ratio of 13.88, a price-to-earnings-growth ratio of 0.80 and a beta of 0.59. The company has a debt-to-equity ratio of 0.80, a current ratio of 0.80 and a quick ratio of 0.59. The company has a fifty day moving average price of $51.24 and a 200 day moving average price of $56.21.

CVS Health (NYSE:CVSGet Free Report) last announced its quarterly earnings results on Wednesday, November 6th. The pharmacy operator reported $1.09 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.08 by $0.01. CVS Health had a net margin of 1.36% and a return on equity of 10.72%. The company had revenue of $95.43 billion during the quarter, compared to the consensus estimate of $92.72 billion. During the same quarter in the previous year, the company posted $2.21 earnings per share. The company’s revenue for the quarter was up 6.3% compared to the same quarter last year. On average, sell-side analysts forecast that CVS Health Co. will post 5.22 EPS for the current fiscal year.

CVS Health Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, February 3rd. Investors of record on Thursday, January 23rd will be issued a $0.665 dividend. This represents a $2.66 dividend on an annualized basis and a yield of 4.86%. The ex-dividend date of this dividend is Thursday, January 23rd. CVS Health’s dividend payout ratio (DPR) is 67.51%.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the business. Assetmark Inc. raised its holdings in CVS Health by 9.7% during the third quarter. Assetmark Inc. now owns 410,001 shares of the pharmacy operator’s stock worth $25,781,000 after purchasing an additional 36,132 shares in the last quarter. TD Private Client Wealth LLC lifted its holdings in shares of CVS Health by 28.7% in the third quarter. TD Private Client Wealth LLC now owns 46,938 shares of the pharmacy operator’s stock valued at $2,951,000 after buying an additional 10,465 shares during the period. Cullinan Associates Inc. boosted its stake in CVS Health by 43.8% during the third quarter. Cullinan Associates Inc. now owns 122,682 shares of the pharmacy operator’s stock valued at $7,125,000 after buying an additional 37,395 shares in the last quarter. Principal Financial Group Inc. grew its holdings in CVS Health by 4.8% during the third quarter. Principal Financial Group Inc. now owns 1,434,476 shares of the pharmacy operator’s stock worth $90,200,000 after acquiring an additional 66,244 shares during the period. Finally, Sompo Asset Management Co. Ltd. raised its position in CVS Health by 8.4% in the third quarter. Sompo Asset Management Co. Ltd. now owns 134,523 shares of the pharmacy operator’s stock worth $8,459,000 after acquiring an additional 10,453 shares in the last quarter. Institutional investors and hedge funds own 80.66% of the company’s stock.

CVS Health Company Profile

(Get Free Report)

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.

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