CVS Health (NYSE:CVS) Sees Strong Trading Volume – Time to Buy?

Shares of CVS Health Co. (NYSE:CVS) saw strong trading volume on Friday . 12,135,500 shares changed hands during trading, an increase of 10% from the previous session’s volume of 11,079,293 shares.The stock last traded at $59.31 and had previously closed at $63.67.

Analysts Set New Price Targets

A number of research analysts have weighed in on CVS shares. TD Cowen raised shares of CVS Health from a “hold” rating to a “buy” rating and boosted their target price for the stock from $59.00 to $85.00 in a research report on Friday, October 4th. Cantor Fitzgerald restated a “neutral” rating and set a $62.00 target price on shares of CVS Health in a research note on Tuesday, October 1st. Barclays raised CVS Health from an “equal weight” rating to an “overweight” rating and lifted their price target for the stock from $63.00 to $82.00 in a research report on Thursday, October 10th. Royal Bank of Canada reissued an “outperform” rating and issued a $68.00 price objective on shares of CVS Health in a research report on Wednesday, September 4th. Finally, Wells Fargo & Company boosted their target price on shares of CVS Health from $60.00 to $61.00 and gave the stock an “equal weight” rating in a research report on Monday, August 12th. Nine investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to MarketBeat.com, CVS Health presently has an average rating of “Moderate Buy” and an average price target of $75.26.

CVS Health Stock Performance

The company has a debt-to-equity ratio of 0.83, a quick ratio of 0.66 and a current ratio of 0.86. The stock’s 50 day moving average price is $59.80 and its 200 day moving average price is $60.53. The company has a market capitalization of $75.75 billion, a P/E ratio of 10.60, a price-to-earnings-growth ratio of 0.93 and a beta of 0.54.

CVS Health (NYSE:CVS) last issued its earnings results on Wednesday, August 7th. The pharmacy operator reported $1.83 earnings per share for the quarter, topping analysts’ consensus estimates of $1.73 by $0.10. The business had revenue of $91.23 billion during the quarter, compared to the consensus estimate of $91.41 billion. CVS Health had a return on equity of 12.72% and a net margin of 1.98%. The firm’s revenue for the quarter was up 2.6% on a year-over-year basis. During the same period in the previous year, the company posted $2.21 earnings per share. As a group, equities analysts expect that CVS Health Co. will post 6.51 EPS for the current year.

CVS Health Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 1st. Investors of record on Monday, October 21st will be given a dividend of $0.665 per share. This represents a $2.66 dividend on an annualized basis and a dividend yield of 4.41%. The ex-dividend date of this dividend is Monday, October 21st. CVS Health’s payout ratio is 46.75%.

Institutional Trading of CVS Health

A number of large investors have recently added to or reduced their stakes in CVS. First Community Trust NA grew its stake in shares of CVS Health by 116.2% during the 2nd quarter. First Community Trust NA now owns 562 shares of the pharmacy operator’s stock worth $33,000 after acquiring an additional 302 shares during the period. Kathleen S. Wright Associates Inc. bought a new position in CVS Health during the third quarter worth about $33,000. Steph & Co. increased its stake in shares of CVS Health by 192.0% in the first quarter. Steph & Co. now owns 438 shares of the pharmacy operator’s stock worth $35,000 after purchasing an additional 288 shares in the last quarter. ORG Partners LLC raised its position in shares of CVS Health by 11,840.0% in the second quarter. ORG Partners LLC now owns 597 shares of the pharmacy operator’s stock valued at $35,000 after purchasing an additional 592 shares during the period. Finally, Oliver Lagore Vanvalin Investment Group lifted its stake in shares of CVS Health by 71.0% during the 2nd quarter. Oliver Lagore Vanvalin Investment Group now owns 595 shares of the pharmacy operator’s stock valued at $35,000 after buying an additional 247 shares in the last quarter. Hedge funds and other institutional investors 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.