CVS Health Co. (NYSE:CVS) Receives $67.65 Consensus Target Price from Brokerages

Shares of CVS Health Co. (NYSE:CVS) have been given an average rating of “Moderate Buy” by the twenty-one ratings firms that are covering the company, Marketbeat Ratings reports. Three analysts have rated the stock with a hold recommendation, seventeen have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average twelve-month price target among brokers that have issued ratings on the stock in the last year is $70.00.

CVS has been the subject of several research analyst reports. Mizuho reduced their target price on shares of CVS Health from $73.00 to $66.00 and set an “outperform” rating for the company in a report on Thursday, October 24th. Cantor Fitzgerald raised CVS Health from a “neutral” rating to an “overweight” rating in a research report on Wednesday, February 12th. JPMorgan Chase & Co. lifted their price target on CVS Health from $80.00 to $81.00 and gave the stock an “overweight” rating in a report on Tuesday. TD Cowen upped their price objective on CVS Health from $73.00 to $80.00 and gave the company a “buy” rating in a report on Monday, November 25th. Finally, Edward Jones raised CVS Health from a “hold” rating to a “buy” rating in a report on Thursday, January 30th.

CVS Health Trading Up 1.2 %

Shares of NYSE:CVS opened at $66.35 on Thursday. The company has a 50-day simple moving average of $51.80 and a 200 day simple moving average of $56.12. The company has a market capitalization of $83.65 billion, a P/E ratio of 18.13, a price-to-earnings-growth ratio of 0.98 and a beta of 0.61. The company has a debt-to-equity ratio of 0.80, a quick ratio of 0.60 and a current ratio of 0.81. CVS Health has a 52-week low of $43.56 and a 52-week high of $80.75.

CVS Health (NYSE:CVS) last posted its earnings results on Wednesday, February 12th. The pharmacy operator reported $1.19 earnings per share for the quarter, topping analysts’ consensus estimates of $0.89 by $0.30. CVS Health had a return on equity of 9.11% and a net margin of 1.24%. Sell-side analysts forecast that CVS Health will post 5.92 earnings per share for the current year.

CVS Health Dividend Announcement

The business 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 4.01%. CVS Health’s dividend payout ratio (DPR) is currently 72.68%.

Insider Activity at CVS Health

In other news, Director Michael F. Mahoney acquired 30,000 shares of the business’s stock in a transaction that occurred on Tuesday, February 18th. The shares were bought at an average price of $66.70 per share, with a total value of $2,001,000.00. Following the acquisition, the director now directly owns 39,356 shares in the company, valued at $2,625,045.20. The trade was a 320.65 % increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this hyperlink. 0.24% of the stock is currently owned by insiders.

Hedge Funds Weigh In On CVS Health

Several large investors have recently bought and sold shares of the company. Norges Bank bought a new position in CVS Health in the 4th quarter valued at approximately $839,574,000. Capital World Investors raised its stake in shares of CVS Health by 26.6% during the fourth quarter. Capital World Investors now owns 61,039,777 shares of the pharmacy operator’s stock valued at $2,739,927,000 after acquiring an additional 12,819,148 shares during the last quarter. Davis Selected Advisers lifted its holdings in shares of CVS Health by 2,998.1% during the fourth quarter. Davis Selected Advisers now owns 11,385,950 shares of the pharmacy operator’s stock worth $511,115,000 after purchasing an additional 11,018,438 shares during the period. Dodge & Cox increased its holdings in CVS Health by 11.2% in the fourth quarter. Dodge & Cox now owns 70,105,899 shares of the pharmacy operator’s stock valued at $3,147,054,000 after purchasing an additional 7,075,209 shares during the period. Finally, Pzena Investment Management LLC raised its position in CVS Health by 49.3% during the 4th quarter. Pzena Investment Management LLC now owns 19,610,579 shares of the pharmacy operator’s stock worth $880,319,000 after purchasing an additional 6,475,271 shares during the last quarter. 80.66% of the stock is currently owned by institutional investors.

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.