CVS Health (NYSE:CVS) Trading 2.7% Higher Following Analyst Upgrade

CVS Health Co. (NYSE:CVS)’s stock price rose 2.7% during mid-day trading on Monday after Evercore ISI raised their price target on the stock from $60.00 to $65.00. Evercore ISI currently has an outperform rating on the stock. CVS Health traded as high as $56.77 and last traded at $56.04. Approximately 3,148,189 shares changed hands during mid-day trading, a decline of 76% from the average daily volume of 13,225,995 shares. The stock had previously closed at $54.55.

A number of other equities research analysts also recently weighed in on the company. Truist Financial dropped 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. Barclays dropped their price objective on CVS Health from $75.00 to $71.00 and set an “overweight” rating for the company in a report on Thursday, November 7th. Wells Fargo & Company upgraded shares of CVS Health from an “equal weight” rating to an “overweight” rating and lifted their price target for the stock from $60.00 to $66.00 in a research report on Monday, November 18th. TD Cowen increased their price objective on shares of CVS Health from $73.00 to $80.00 and gave the company a “buy” rating in a report on Monday, November 25th. Finally, Mizuho lowered 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. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and thirteen have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $68.12.

Hedge Funds Weigh In On CVS Health

Hedge funds have recently bought and sold shares of the business. MidAtlantic Capital Management Inc. acquired a new position in shares of CVS Health during the 3rd quarter worth approximately $25,000. Ridgewood Investments LLC grew its position in CVS Health by 255.7% during the fourth quarter. Ridgewood Investments LLC now owns 626 shares of the pharmacy operator’s stock worth $28,000 after buying an additional 450 shares in the last quarter. Livelsberger Financial Advisory bought a new position in CVS Health during the 3rd quarter worth $31,000. Legacy Investment Solutions LLC acquired a new position in CVS Health in the 3rd quarter valued at $31,000. Finally, Reston Wealth Management LLC bought a new stake in shares of CVS Health during the 3rd quarter valued at $32,000. 80.66% of the stock is owned by institutional investors.

CVS Health Stock Up 3.0 %

The company has a market cap of $70.72 billion, a P/E ratio of 14.26, a PEG ratio of 0.80 and a beta of 0.59. The stock has a 50-day moving average of $51.24 and a 200 day moving average of $56.20. The company has a debt-to-equity ratio of 0.80, a current ratio of 0.80 and a quick ratio of 0.59.

CVS Health (NYSE:CVS) last issued its earnings results on Wednesday, November 6th. The pharmacy operator reported $1.09 EPS for the quarter, beating the consensus estimate of $1.08 by $0.01. The company had revenue of $95.43 billion during the quarter, compared to analysts’ expectations of $92.72 billion. CVS Health had a net margin of 1.36% and a return on equity of 10.72%. The business’s revenue for the quarter was up 6.3% compared to the same quarter last year. During the same period in the previous year, the company earned $2.21 EPS. Research analysts anticipate that CVS Health Co. will post 5.22 earnings per share for the current year.

CVS Health Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, February 3rd. Stockholders of record on Thursday, January 23rd will be issued a dividend of $0.665 per share. The ex-dividend date is Thursday, January 23rd. This represents a $2.66 dividend on an annualized basis and a dividend yield of 4.73%. CVS Health’s dividend payout ratio (DPR) is currently 67.51%.

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.