CVS Health (NYSE:CVS) Given New $80.00 Price Target at TD Cowen

CVS Health (NYSE:CVS) had its price target boosted by TD Cowen from $73.00 to $80.00 in a research report report published on Monday,Benzinga reports. They currently have a buy rating on the pharmacy operator’s stock.

A number of other research firms have also recently weighed in on CVS. Mizuho cut their price target on CVS Health from $73.00 to $66.00 and set an “outperform” rating for the company in a report on Thursday, October 24th. Wells Fargo & Company upgraded shares of CVS Health from an “equal weight” rating to an “overweight” rating and upped their target price for the company from $60.00 to $66.00 in a report on Monday, November 18th. Royal Bank of Canada lowered their price target 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. Deutsche Bank Aktiengesellschaft reduced their price objective on shares of CVS Health from $64.00 to $63.00 and set a “hold” rating on the stock in a research note on Friday, August 9th. Finally, Truist Financial reiterated a “buy” rating and issued a $67.00 price target (down from $76.00) on shares of CVS Health in a report on Wednesday, November 20th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and thirteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $70.33.

CVS Health Trading Up 3.6 %

NYSE:CVS opened at $60.10 on Monday. The company has a market capitalization of $75.63 billion, a PE ratio of 15.25, a price-to-earnings-growth ratio of 0.98 and a beta of 0.55. CVS Health has a 52-week low of $52.71 and a 52-week high of $83.25. The stock has a fifty day simple moving average of $59.25 and a 200-day simple moving average of $58.67. 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 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 for the quarter, compared to the consensus estimate of $92.72 billion. During the same quarter in the prior year, the firm earned $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, equities research analysts expect that CVS Health will post 5.43 earnings per share for the current fiscal year.

CVS Health Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, November 1st. Shareholders of record on Monday, October 21st were paid a dividend of $0.665 per share. The ex-dividend date of this dividend was Monday, October 21st. This represents a $2.66 annualized dividend and a yield of 4.43%. CVS Health’s dividend payout ratio is currently 67.51%.

Hedge Funds Weigh In On CVS Health

Several hedge funds and other institutional investors have recently made changes to their positions in the business. MidAtlantic Capital Management Inc. acquired a new position in shares of CVS Health during the third quarter worth about $25,000. Livelsberger Financial Advisory purchased a new position in CVS Health in the 3rd quarter worth approximately $31,000. Legacy Investment Solutions LLC acquired a new stake in CVS Health in the third quarter valued at approximately $31,000. Reston Wealth Management LLC purchased a new stake in shares of CVS Health during the third quarter valued at approximately $32,000. Finally, First Community Trust NA lifted its position in shares of CVS Health by 116.2% during the second quarter. First Community Trust NA now owns 562 shares of the pharmacy operator’s stock worth $33,000 after purchasing an additional 302 shares in the last quarter. Institutional investors and hedge funds 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.