CVS Health (NYSE:CVS) Trading 1.5% Higher on Analyst Upgrade

CVS Health Co. (NYSE:CVS) rose 1.5% on Tuesday 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 $57.33 and last traded at $57.03. Approximately 2,609,261 shares changed hands during mid-day trading, a decline of 80% from the average daily volume of 13,086,002 shares. The stock had previously closed at $56.20.

A number of other equities analysts have also commented on the stock. Mizuho cut their price objective on shares of CVS Health from $73.00 to $66.00 and set an “outperform” rating on the stock in a report on Thursday, October 24th. Piper Sandler cut their price target on CVS Health from $72.00 to $64.00 and set an “overweight” rating on the stock in a research note on Monday, November 25th. Barclays lowered their price objective on CVS Health from $75.00 to $71.00 and set an “overweight” rating for the company in a research note on Thursday, November 7th. Wells Fargo & Company upgraded CVS Health from an “equal weight” rating to an “overweight” rating and increased their target price for the company from $60.00 to $66.00 in a research note on Monday, November 18th. Finally, StockNews.com cut shares of CVS Health from a “hold” rating to a “sell” rating in a report on Thursday, November 14th. One equities research 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’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $68.12.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the stock. Hotchkis & Wiley Capital Management LLC boosted its holdings in shares of CVS Health by 34.8% during the third quarter. Hotchkis & Wiley Capital Management LLC now owns 11,897,034 shares of the pharmacy operator’s stock valued at $748,085,000 after acquiring an additional 3,071,613 shares during the period. ARGA Investment Management LP boosted its position in shares of CVS Health by 7,567.7% during the fourth quarter. ARGA Investment Management LP now owns 2,402,901 shares of the pharmacy operator’s stock worth $107,866,000 after buying an additional 2,371,563 shares during the period. State Street Corp increased its position in CVS Health by 3.6% in the 3rd quarter. State Street Corp now owns 56,527,909 shares of the pharmacy operator’s stock valued at $3,554,475,000 after acquiring an additional 1,989,066 shares during the period. TOMS Capital Investment Management LP acquired a new position in CVS Health during the 3rd quarter worth $121,987,000. Finally, Pathway Financial Advisers LLC grew its stake in shares of CVS Health by 5,864.2% in the third quarter. Pathway Financial Advisers LLC now owns 1,730,343 shares of the pharmacy operator’s stock worth $108,804,000 after purchasing an additional 1,701,331 shares in the last quarter. 80.66% of the stock is currently owned by institutional investors.

CVS Health Trading Up 2.2 %

The business’s 50 day moving average is $51.24 and its two-hundred day moving average is $56.19. The firm has a market capitalization of $72.29 billion, a P/E ratio of 14.58, a PEG ratio of 0.80 and a beta of 0.59. 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 posted its quarterly earnings data on Wednesday, November 6th. The pharmacy operator reported $1.09 EPS for the quarter, topping analysts’ consensus estimates of $1.08 by $0.01. The company had revenue of $95.43 billion for the quarter, compared to the consensus estimate of $92.72 billion. CVS Health had a return on equity of 10.72% and a net margin of 1.36%. The company’s quarterly revenue was up 6.3% compared to the same quarter last year. During the same quarter in the previous year, the business earned $2.21 EPS. Analysts expect that CVS Health Co. will post 5.22 EPS for the current year.

CVS Health Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, February 3rd. Investors of record on Thursday, January 23rd will be issued a $0.665 dividend. The ex-dividend date of this dividend is Thursday, January 23rd. This represents a $2.66 dividend on an annualized basis and a dividend yield of 4.63%. CVS Health’s payout ratio is currently 67.51%.

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.