Brokerages Set CVS Health Co. (NYSE:CVS) PT at $68.71

Shares of CVS Health Co. (NYSE:CVS) have been assigned a consensus rating of “Moderate Buy” from the nineteen ratings firms that are currently covering the firm, MarketBeat.com reports. Six investment analysts have rated the stock with a hold recommendation and thirteen have issued a buy recommendation on the company. The average twelve-month price target among brokers that have issued a report on the stock in the last year is $68.71.

A number of research analysts have weighed in on CVS shares. TD Cowen raised their price target on CVS Health from $73.00 to $80.00 and gave the company a “buy” rating in a research note on Monday, November 25th. Wells Fargo & Company raised shares of CVS Health from an “equal weight” rating to an “overweight” rating and upped their price target for the stock from $60.00 to $66.00 in a research report on Monday, November 18th. Truist Financial lowered their price objective on shares of CVS Health from $67.00 to $60.00 and set a “buy” rating on the stock in a research note on Monday, January 6th. Piper Sandler reduced their price target on CVS Health from $72.00 to $64.00 and set an “overweight” rating for the company in a report on Monday, November 25th. Finally, StockNews.com lowered CVS Health from a “hold” rating to a “sell” rating in a research note on Thursday, November 14th.

CVS Health Price Performance

NYSE CVS opened at $54.71 on Friday. CVS Health has a 12-month low of $43.56 and a 12-month high of $80.75. The firm’s 50 day moving average is $51.24 and its 200-day moving average is $56.21. The company has a market capitalization of $68.84 billion, a PE ratio of 13.88, a price-to-earnings-growth ratio of 0.80 and a beta of 0.59. 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 (NYSE:CVS) last issued its quarterly earnings results on Wednesday, November 6th. The pharmacy operator reported $1.09 EPS for the quarter, topping the consensus estimate of $1.08 by $0.01. The firm had revenue of $95.43 billion for the quarter, compared to analysts’ expectations of $92.72 billion. CVS Health had a net margin of 1.36% and a return on equity of 10.72%. The company’s revenue for the quarter was up 6.3% on a year-over-year basis. During the same period in the previous year, the firm posted $2.21 EPS. Equities research analysts anticipate that CVS Health will post 5.22 earnings per share 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 paid a $0.665 dividend. This represents a $2.66 annualized dividend 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 presently 67.51%.

Hedge Funds Weigh In On CVS Health

Institutional investors have recently added to or reduced their stakes in the stock. MidAtlantic Capital Management Inc. bought a new stake in shares of CVS Health during the third quarter worth $25,000. Ridgewood Investments LLC grew its position in CVS Health by 255.7% during the 4th quarter. Ridgewood Investments LLC now owns 626 shares of the pharmacy operator’s stock worth $28,000 after acquiring an additional 450 shares during the last quarter. Livelsberger Financial Advisory bought a new position in CVS Health in the third quarter valued at about $31,000. Legacy Investment Solutions LLC acquired a new stake in shares of CVS Health during the third quarter valued at about $31,000. Finally, Reston Wealth Management LLC acquired a new position in shares of CVS Health in the third quarter valued at approximately $32,000. 80.66% of the stock is currently owned by institutional investors and hedge funds.

About CVS Health

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.