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

CVS Health (NYSE:CVS) had its target price upped by Leerink Partners from $51.00 to $55.00 in a research note published on Tuesday morning. The brokerage currently has a market perform rating on the pharmacy operator’s stock.

Several other research firms also recently commented on CVS. Barclays dropped their price objective on shares of CVS Health from $75.00 to $71.00 and set an “overweight” rating for the company in a report on Thursday, November 7th. Wolfe Research lifted their price objective on CVS Health from 67.00 to 70.00 and gave the stock an “overweight” rating in a research note on Tuesday. Wells Fargo & Company raised shares of CVS Health from an “equal weight” rating to an “overweight” rating and raised their target price for the company from $60.00 to $66.00 in a report on Monday, November 18th. Truist Financial lowered their price objective on shares of CVS Health from $67.00 to $60.00 and set a “buy” rating for the company in a research report on Monday, January 6th. Finally, Edward Jones upgraded shares of CVS Health from a “hold” rating to a “buy” rating in a report on Thursday, January 30th. One analyst has rated the stock with a sell rating, six have issued a hold rating and fifteen have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $67.78.

CVS Health Trading Up 1.3 %

CVS stock opened at $55.01 on Tuesday. The company has a market capitalization of $69.23 billion, a price-to-earnings ratio of 13.96, a PEG ratio of 0.60 and a beta of 0.61. 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 has a 1-year low of $43.56 and a 1-year high of $80.75. The business has a 50 day simple moving average of $50.69 and a two-hundred day simple moving average of $55.95.

CVS Health Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, February 3rd. Stockholders of record on Thursday, January 23rd were issued a dividend of $0.665 per share. The ex-dividend date was Thursday, January 23rd. This represents a $2.66 annualized dividend and a dividend yield of 4.84%. CVS Health’s payout ratio is currently 67.51%.

Institutional Trading of CVS Health

A number of institutional investors and hedge funds have recently made changes to their positions in the company. MidAtlantic Capital Management Inc. purchased a new position in shares of CVS Health in the 3rd quarter valued at $25,000. Ridgewood Investments LLC boosted its holdings in CVS Health by 255.7% in the fourth quarter. Ridgewood Investments LLC now owns 626 shares of the pharmacy operator’s stock worth $28,000 after purchasing an additional 450 shares during the period. Stonebridge Financial Group LLC acquired a new stake in CVS Health during the fourth quarter worth about $28,000. Hopwood Financial Services Inc. bought a new position in CVS Health during the 4th quarter worth $29,000. Finally, Livelsberger Financial Advisory bought a new stake in CVS Health in the 3rd quarter valued at about $31,000. 80.66% of the stock is currently owned by institutional investors and hedge funds.

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.