Brokerages Set CVS Health Co. (NYSE:CVS) Target Price at $90.21

CVS Health Co. (NYSE:CVS) has received a consensus recommendation of “Moderate Buy” from the sixteen research firms that are covering the stock, Marketbeat Ratings reports. Three research analysts have rated the stock with a hold rating and thirteen have issued a buy rating on the company. The average 12-month target price among brokerages that have updated their coverage on the stock in the last year is $90.21.

A number of equities analysts have weighed in on CVS shares. HSBC started coverage on shares of CVS Health in a research note on Friday, December 22nd. They set a “buy” rating and a $94.00 target price for the company. Royal Bank of Canada dropped their target price on shares of CVS Health from $86.00 to $84.00 and set an “outperform” rating on the stock in a report on Thursday, February 8th. Piper Sandler raised their target price on shares of CVS Health from $93.00 to $94.00 and gave the stock an “overweight” rating in a report on Friday, March 15th. StockNews.com downgraded CVS Health from a “buy” rating to a “hold” rating in a research report on Thursday, February 15th. Finally, Leerink Partnrs restated an “outperform” rating on shares of CVS Health in a research report on Monday, February 26th.

CVS Health Stock Performance

NYSE CVS opened at $79.76 on Monday. The company has a 50-day simple moving average of $75.78 and a two-hundred day simple moving average of $73.51. The company has a quick ratio of 0.63, a current ratio of 0.86 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 $100.37 billion, a price-to-earnings ratio of 12.35, a PEG ratio of 1.05 and a beta of 0.51.

CVS Health (NYSE:CVS) last posted its earnings results on Wednesday, February 7th. The pharmacy operator reported $2.12 earnings per share for the quarter, topping analysts’ consensus estimates of $2.01 by $0.11. The company had revenue of $93.81 billion during the quarter, compared to analyst estimates of $90.58 billion. CVS Health had a net margin of 2.33% and a return on equity of 15.25%. CVS Health’s revenue for the quarter was up 11.9% on a year-over-year basis. During the same period in the prior year, the business posted $1.99 earnings per share. On average, equities analysts forecast that CVS Health will post 8.33 EPS for the current year.

CVS Health Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 1st. Shareholders of record on Monday, April 22nd will be issued 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 3.34%. CVS Health’s payout ratio is currently 41.18%.

Insiders Place Their Bets

In other news, EVP Prem S. Shah sold 29,473 shares of CVS Health 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 transaction, the executive vice president now directly owns 39,765 shares in the company, valued at approximately $3,059,916.75. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 0.25% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On CVS Health

Several institutional investors and hedge funds have recently modified their holdings of the stock. Cantor Fitzgerald Investment Advisor L.P increased its stake in CVS Health by 92.9% during the 1st quarter. Cantor Fitzgerald Investment Advisor L.P now owns 377,875 shares of the pharmacy operator’s stock worth $38,245,000 after buying an additional 181,966 shares in the last quarter. United Bank raised its stake in shares of CVS Health by 7.2% in the first quarter. United Bank now owns 18,658 shares of the pharmacy operator’s stock valued at $1,888,000 after acquiring an additional 1,260 shares in the last quarter. Loomis Sayles & Co. L P raised its stake in shares of CVS Health by 4,063.8% in the first quarter. Loomis Sayles & Co. L P now owns 12,075 shares of the pharmacy operator’s stock valued at $1,222,000 after acquiring an additional 11,785 shares in the last quarter. Zions Bancorporation N.A. raised its stake in shares of CVS Health by 116.9% in the first quarter. Zions Bancorporation N.A. now owns 2,572 shares of the pharmacy operator’s stock valued at $260,000 after acquiring an additional 1,386 shares in the last quarter. Finally, Ergoteles LLC acquired a new stake in shares of CVS Health in the first quarter valued at $1,551,000. Institutional investors and hedge funds 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.