CVS Health Co. (NYSE:CVS) Receives Average Recommendation of “Moderate Buy” from Brokerages

CVS Health Co. (NYSE:CVS) has been assigned a consensus rating of “Moderate Buy” from the fifteen research firms that are currently covering the firm, MarketBeat Ratings reports. Three research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. The average 1 year price target among brokers that have issued ratings on the stock in the last year is $89.44.

Several research analysts have commented on CVS shares. Wells Fargo & Company decreased their target price on shares of CVS Health from $83.00 to $76.00 and set an “equal weight” rating for the company in a research report on Monday, April 8th. SVB Leerink started coverage on CVS Health in a report on Monday, February 26th. They issued an “outperform” rating and a $88.00 price objective for the company. Piper Sandler increased their price target on CVS Health from $93.00 to $94.00 and gave the stock an “overweight” rating in a research note on Friday, March 15th. Cantor Fitzgerald reissued an “overweight” rating and issued a $87.00 price target on shares of CVS Health in a research note on Wednesday, April 10th. Finally, Royal Bank of Canada decreased their target price on shares of CVS Health from $86.00 to $84.00 and set an “outperform” rating for the company in a research report on Thursday, February 8th.

CVS Health Stock Down 1.6 %

Shares of NYSE:CVS opened at $68.50 on Friday. The company has a current ratio of 0.86, a quick ratio of 0.63 and a debt-to-equity ratio of 0.77. The company has a fifty day simple moving average of $74.97 and a 200 day simple moving average of $73.76. The firm has a market cap of $86.34 billion, a PE ratio of 10.60, a price-to-earnings-growth ratio of 0.92 and a beta of 0.52. CVS Health has a 12-month low of $64.41 and a 12-month high of $83.25.

CVS Health (NYSE:CVS) last announced its quarterly earnings data 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 firm had revenue of $93.81 billion during the quarter, compared to analyst estimates of $90.58 billion. During the same period in the previous year, the company earned $1.99 earnings per share. CVS Health’s quarterly revenue was up 11.9% on a year-over-year basis. On average, equities research analysts anticipate that CVS Health will post 8.32 EPS for the current fiscal year.

CVS Health Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, May 1st. Stockholders of record on Monday, April 22nd will be given a $0.665 dividend. The ex-dividend date is Friday, April 19th. This represents a $2.66 annualized dividend and a dividend yield of 3.88%. CVS Health’s dividend payout ratio (DPR) is presently 41.18%.

Insiders Place Their Bets

In other CVS Health news, EVP Prem S. Shah sold 29,473 shares of the firm’s stock in a transaction dated Friday, February 16th. The stock was sold at an average price of $76.95, for a total transaction of $2,267,947.35. Following the completion of the sale, 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 filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 0.24% of the company’s stock.

Institutional Investors Weigh In On CVS Health

Several institutional investors have recently made changes to their positions in CVS. Atticus Wealth Management LLC lifted its stake in CVS Health by 149.0% in the fourth quarter. Atticus Wealth Management LLC now owns 366 shares of the pharmacy operator’s stock valued at $29,000 after acquiring an additional 219 shares during the last quarter. USA Financial Formulas increased its position in CVS Health by 573.2% during the fourth quarter. USA Financial Formulas now owns 377 shares of the pharmacy operator’s stock worth $30,000 after buying an additional 321 shares during the last quarter. Cornerstone Planning Group LLC increased its position in CVS Health by 111.5% during the third quarter. Cornerstone Planning Group LLC now owns 461 shares of the pharmacy operator’s stock worth $32,000 after buying an additional 243 shares during the last quarter. Ables Iannone Moore & Associates Inc. acquired a new position in CVS Health during the fourth quarter worth $32,000. Finally, Creekmur Asset Management LLC acquired a new position in CVS Health during the fourth quarter worth $34,000. 80.66% of the stock is currently owned by institutional investors and hedge funds.

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.