CVS Health Co. (NYSE:CVS) Receives $90.21 Consensus Price Target from Brokerages

CVS Health Co. (NYSE:CVS) has been given a consensus recommendation of “Moderate Buy” by the sixteen ratings firms that are covering the firm, MarketBeat reports. Three research analysts have rated the stock with a hold recommendation and thirteen have given a buy recommendation to the company. The average 12-month price target among brokers that have updated their coverage on the stock in the last year is $90.21.

Several equities analysts have recently commented on the company. HSBC began coverage on CVS Health in a research report on Friday, December 22nd. They issued a “buy” rating and a $94.00 price objective on the stock. StockNews.com cut CVS Health from a “buy” rating to a “hold” rating in a report on Thursday, February 15th. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $87.00 target price on shares of CVS Health in a report on Thursday, February 8th. Piper Sandler boosted their price objective on CVS Health from $93.00 to $94.00 and gave the stock an “overweight” rating in a research note on Friday, March 15th. Finally, TD Cowen reduced their price objective on CVS Health from $102.00 to $99.00 and set an “outperform” rating on the stock in a research note on Monday, December 11th.

CVS Health Stock Up 0.1 %

CVS Health stock opened at $79.43 on Monday. The company has a current ratio of 0.86, a quick ratio of 0.63 and a debt-to-equity ratio of 0.77. CVS Health has a 12 month low of $64.41 and a 12 month high of $83.25. The firm has a market cap of $99.96 billion, a price-to-earnings ratio of 12.27, a PEG ratio of 1.04 and a beta of 0.51. The stock has a fifty day simple moving average of $75.61 and a two-hundred day simple moving average of $73.42.

CVS Health (NYSE:CVS) last released its earnings results on Wednesday, February 7th. The pharmacy operator reported $2.12 earnings per share for the quarter, beating the consensus estimate of $2.01 by $0.11. CVS Health had a return on equity of 15.25% and a net margin of 2.33%. The company had revenue of $93.81 billion for the quarter, compared to the consensus estimate of $90.58 billion. During the same period in the previous year, the business earned $1.99 earnings per share. CVS Health’s quarterly revenue was up 11.9% compared to the same quarter last year. Equities analysts predict that CVS Health will post 8.33 EPS for the current fiscal year.

CVS Health Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, May 1st. Shareholders of record on Monday, April 22nd will be given a dividend of $0.665 per share. The ex-dividend date of this dividend is Friday, April 19th. This represents a $2.66 annualized dividend and a yield of 3.35%. CVS Health’s dividend payout ratio (DPR) is presently 41.18%.

Insider Transactions at CVS Health

In other news, EVP Prem S. Shah sold 29,473 shares of the firm’s stock in a transaction on Friday, February 16th. The stock was sold at an average price of $76.95, for a total value of $2,267,947.35. Following the completion of the sale, the executive vice president now owns 39,765 shares of the company’s stock, valued at approximately $3,059,916.75. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.25% of the company’s stock.

Hedge Funds Weigh In On CVS Health

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Weik Capital Management raised its stake in CVS Health by 0.7% in the 1st quarter. Weik Capital Management now owns 17,600 shares of the pharmacy operator’s stock worth $1,781,000 after acquiring an additional 120 shares during the last quarter. FCA Corp TX raised its stake in shares of CVS Health by 0.6% during the 1st quarter. FCA Corp TX now owns 20,109 shares of the pharmacy operator’s stock valued at $2,035,000 after buying an additional 122 shares during the last quarter. Arvest Trust Co. N A raised its stake in shares of CVS Health by 1.2% during the 4th quarter. Arvest Trust Co. N A now owns 11,157 shares of the pharmacy operator’s stock valued at $1,040,000 after buying an additional 131 shares during the last quarter. SOA Wealth Advisors LLC. raised its stake in shares of CVS Health by 4.9% during the 4th quarter. SOA Wealth Advisors LLC. now owns 2,859 shares of the pharmacy operator’s stock valued at $226,000 after buying an additional 133 shares during the last quarter. Finally, Apella Capital LLC raised its stake in shares of CVS Health by 4.2% during the 4th quarter. Apella Capital LLC now owns 3,378 shares of the pharmacy operator’s stock valued at $272,000 after buying an additional 136 shares during 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.