CVS Health (NYSE:CVS) Given New $55.00 Price Target at Leerink Partners

CVS Health (NYSE:CVS) had its price objective upped by Leerink Partners from $51.00 to $55.00 in a report released on Tuesday morning. Leerink Partners currently has a market perform rating on the pharmacy operator’s stock.

Several other equities research analysts also recently commented on CVS. StockNews.com downgraded CVS Health from a “hold” rating to a “sell” rating in a report on Thursday, November 14th. Wolfe Research lifted their price objective on CVS Health from 67.00 to 70.00 and gave the stock an “overweight” rating in a report on Tuesday. Truist Financial decreased their target price on CVS Health from $67.00 to $60.00 and set a “buy” rating for the company in a research report on Monday, January 6th. UBS Group decreased their target price on CVS Health from $62.00 to $59.00 and set a “neutral” rating for the company in a research report on Tuesday. Finally, Piper Sandler reduced their price objective on CVS Health from $72.00 to $64.00 and set an “overweight” rating for the company in a research report on Monday, November 25th. Five equities research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company’s stock. According to data from MarketBeat.com, CVS Health presently has a consensus rating of “Moderate Buy” and a consensus price target of $70.28.

CVS Health Stock Up 4.9 %

Shares of NYSE:CVS opened at $66.35 on Tuesday. The stock’s 50-day moving average price is $50.71 and its two-hundred day moving average price is $55.94. The company has a current ratio of 0.80, a quick ratio of 0.59 and a debt-to-equity ratio of 0.80. CVS Health has a 12-month low of $43.56 and a 12-month high of $80.75. The firm has a market cap of $83.49 billion, a price-to-earnings ratio of 16.84, a PEG ratio of 0.60 and a beta of 0.61.

CVS Health (NYSE:CVS) last issued its quarterly earnings results on Wednesday, February 12th. The pharmacy operator reported $1.19 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.89 by $0.30. CVS Health had a return on equity of 10.72% and a net margin of 1.36%. On average, research analysts forecast that CVS Health will post 5.14 EPS for the current year.

CVS Health Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, February 3rd. Stockholders of record on Thursday, January 23rd were paid a $0.665 dividend. This represents a $2.66 dividend on an annualized basis and a dividend yield of 4.01%. The ex-dividend date was Thursday, January 23rd. CVS Health’s dividend payout ratio is presently 72.68%.

Institutional Investors Weigh In On CVS Health

A number of institutional investors and hedge funds have recently modified their holdings of the stock. CANADA LIFE ASSURANCE Co raised its position in shares of CVS Health by 3.4% during the fourth quarter. CANADA LIFE ASSURANCE Co now owns 2,115,154 shares of the pharmacy operator’s stock worth $94,890,000 after purchasing an additional 69,641 shares during the period. Strategic Investment Solutions Inc. IL grew its stake in CVS Health by 77.2% in the fourth quarter. Strategic Investment Solutions Inc. IL now owns 1,024 shares of the pharmacy operator’s stock valued at $46,000 after purchasing an additional 446 shares in the last quarter. MSH Capital Advisors LLC purchased a new position in CVS Health in the fourth quarter valued at about $218,000. Dodge & Cox grew its stake 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 in the last quarter. Finally, Jump Financial LLC boosted its stake in shares of CVS Health by 3,329.0% during the 4th quarter. Jump Financial LLC now owns 342,903 shares of the pharmacy operator’s stock worth $15,393,000 after acquiring an additional 332,903 shares in the last quarter. 80.66% of the stock is owned by institutional investors and hedge funds.

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.