CVS Health (NYSE:CVS) Price Target Raised to $62.00 at UBS Group

CVS Health (NYSE:CVS) had its target price boosted by UBS Group from $60.00 to $62.00 in a research report report published on Thursday morning,Benzinga reports. They currently have a neutral rating on the pharmacy operator’s stock.

Several other equities analysts have also issued reports on the company. Royal Bank of Canada reissued an “outperform” rating and issued a $68.00 price target on shares of CVS Health in a research note on Wednesday, September 4th. Barclays dropped their price target on CVS Health from $75.00 to $71.00 and set an “overweight” rating on the stock in a research note on Thursday. Truist Financial boosted their price objective on CVS Health from $66.00 to $76.00 and gave the company a “buy” rating in a report on Friday, October 11th. TD Cowen upgraded CVS Health from a “hold” rating to a “buy” rating and boosted their price objective for the company from $59.00 to $85.00 in a report on Friday, October 4th. Finally, Cantor Fitzgerald reiterated a “neutral” rating and set a $62.00 price target on shares of CVS Health in a report on Tuesday, October 1st. Nine equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $73.00.

CVS Health Trading Down 1.8 %

Shares of CVS stock traded down $1.02 during mid-day trading on Thursday, reaching $56.05. 8,450,009 shares of the stock traded hands, compared to its average volume of 11,297,811. The stock’s fifty day simple moving average is $59.59 and its two-hundred day simple moving average is $59.23. CVS Health has a 1-year low of $52.77 and a 1-year high of $83.25. The company has a market cap of $70.51 billion, a price-to-earnings ratio of 14.49, a price-to-earnings-growth ratio of 0.82 and a beta of 0.55. The company has a quick ratio of 0.66, a current ratio of 0.86 and a debt-to-equity ratio of 0.83.

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 analyst estimates of $92.72 billion. CVS Health had a return on equity of 12.72% and a net margin of 1.98%. The firm’s quarterly revenue was up 6.3% on a year-over-year basis. During the same period in the previous year, the firm earned $2.21 earnings per share. On average, research analysts anticipate that CVS Health will post 6.27 EPS for the current fiscal year.

CVS Health Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, November 1st. Investors of record on Monday, October 21st were issued a dividend of $0.665 per share. The ex-dividend date of this dividend was Monday, October 21st. This represents a $2.66 dividend on an annualized basis and a dividend yield of 4.75%. CVS Health’s dividend payout ratio is 67.51%.

Hedge Funds Weigh In On CVS Health

A number of large investors have recently modified their holdings of CVS. Cullinan Associates Inc. increased its stake in CVS Health by 43.8% in the 3rd quarter. Cullinan Associates Inc. now owns 122,682 shares of the pharmacy operator’s stock worth $7,125,000 after purchasing an additional 37,395 shares during the period. Deerfield Management Company L.P. Series C purchased a new position in CVS Health in the 2nd quarter worth approximately $57,584,000. CX Institutional increased its stake in CVS Health by 698.0% in the 3rd quarter. CX Institutional now owns 74,609 shares of the pharmacy operator’s stock worth $4,691,000 after purchasing an additional 65,259 shares during the period. Susquehanna Fundamental Investments LLC increased its stake in shares of CVS Health by 27.9% during the second quarter. Susquehanna Fundamental Investments LLC now owns 665,451 shares of the pharmacy operator’s stock valued at $39,302,000 after buying an additional 145,158 shares during the period. Finally, AustralianSuper Pty Ltd increased its stake in shares of CVS Health by 11.0% during the third quarter. AustralianSuper Pty Ltd now owns 1,537,791 shares of the pharmacy operator’s stock valued at $96,696,000 after buying an additional 151,901 shares during the period. 80.66% of the stock is owned by hedge funds and other institutional investors.

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.