UBS Group Cuts CVS Health (NYSE:CVS) Price Target to $59.00

CVS Health (NYSE:CVS) had its price target cut by UBS Group from $62.00 to $59.00 in a research note released on Tuesday. They currently have a neutral rating on the pharmacy operator’s stock.

CVS has been the subject of several other reports. Royal Bank of Canada decreased their price objective on shares of CVS Health from $68.00 to $58.00 and set an “outperform” rating for the company in a report on Friday, November 15th. StockNews.com cut CVS Health from a “hold” rating to a “sell” rating in a research note on Thursday, November 14th. Wells Fargo & Company upgraded CVS Health from an “equal weight” rating to an “overweight” rating and increased their price objective for the stock from $60.00 to $66.00 in a report on Monday, November 18th. Truist Financial reduced their target price on shares of CVS Health from $67.00 to $60.00 and set a “buy” rating on the stock in a research report on Monday, January 6th. Finally, Mizuho dropped their price objective on shares of CVS Health from $73.00 to $66.00 and set an “outperform” rating on the stock in a research note on Thursday, October 24th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and fifteen have given a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $67.78.

CVS Health Price Performance

Shares of CVS stock opened at $55.01 on Tuesday. The business’s 50 day moving average price is $50.69 and its 200-day moving average price is $55.95. CVS Health has a fifty-two week low of $43.56 and a fifty-two week high of $80.75. The firm has a market cap of $69.23 billion, a P/E ratio of 13.96, a P/E/G ratio of 0.60 and a beta of 0.61. The company has a debt-to-equity ratio of 0.80, a quick ratio of 0.59 and a current ratio of 0.80.

CVS Health Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, February 3rd. Stockholders of record on Thursday, January 23rd were paid a $0.665 dividend. The ex-dividend date was Thursday, January 23rd. This represents a $2.66 dividend on an annualized basis and a dividend yield of 4.84%. CVS Health’s dividend payout ratio (DPR) is currently 67.51%.

Institutional Trading of CVS Health

A number of hedge funds have recently bought and sold shares of the company. AMF Tjanstepension AB increased its holdings in CVS Health by 124.1% during the third 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 last quarter. Exchange Traded Concepts LLC increased its stake in shares of CVS Health by 61.9% in the 3rd quarter. Exchange Traded Concepts LLC now owns 14,853 shares of the pharmacy operator’s stock worth $934,000 after purchasing an additional 5,679 shares in the last quarter. Sound Income Strategies LLC raised its holdings in CVS Health by 7.2% in the 3rd quarter. Sound Income Strategies LLC now owns 2,397 shares of the pharmacy operator’s stock worth $151,000 after purchasing an additional 162 shares during the period. Thurston Springer Miller Herd & Titak Inc. grew its holdings in CVS Health by 32.5% during the third quarter. Thurston Springer Miller Herd & Titak Inc. now owns 7,805 shares of the pharmacy operator’s stock valued at $491,000 after purchasing an additional 1,914 shares during the period. Finally, Procyon Advisors LLC purchased a new stake in CVS Health in the third quarter worth about $202,000. Hedge funds and other institutional investors own 80.66% of the company’s stock.

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.