Analysts Set CVS Health Co. (NYSE:CVS) PT at $74.74

Shares of CVS Health Co. (NYSE:CVS) have been assigned an average rating of “Moderate Buy” from the twenty-one analysts that are presently covering the company, Marketbeat reports. Eight investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. The average 1-year target price among brokers that have covered the stock in the last year is $75.26.

CVS has been the subject of a number of recent analyst reports. Truist Financial raised their target price on CVS Health from $66.00 to $76.00 and gave the company a “buy” rating in a report on Friday. Royal Bank of Canada reissued an “outperform” rating and set a $68.00 price objective on shares of CVS Health in a report on Wednesday, September 4th. Cantor Fitzgerald reiterated a “neutral” rating and set a $62.00 price target on shares of CVS Health in a research report on Tuesday, October 1st. TD Cowen raised CVS Health from a “hold” rating to a “buy” rating and raised their price objective for the company from $59.00 to $85.00 in a research note on Friday, October 4th. Finally, Wells Fargo & Company boosted their target price on CVS Health from $60.00 to $61.00 and gave the stock an “equal weight” rating in a research report on Monday, August 12th.

CVS Health Stock Down 0.3 %

Shares of NYSE:CVS opened at $66.63 on Friday. CVS Health has a fifty-two week low of $52.77 and a fifty-two week high of $83.25. The company has a quick ratio of 0.66, a current ratio of 0.86 and a debt-to-equity ratio of 0.83. The firm’s 50-day simple moving average is $59.12 and its 200-day simple moving average is $60.89. The company has a market cap of $83.65 billion, a price-to-earnings ratio of 11.71, a PEG ratio of 0.93 and a beta of 0.54.

CVS Health (NYSE:CVS) last released its earnings results on Wednesday, August 7th. The pharmacy operator reported $1.83 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.73 by $0.10. The company had revenue of $91.23 billion for the quarter, compared to analysts’ expectations of $91.41 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 2.6% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.21 EPS. As a group, equities research analysts predict that CVS Health will post 6.51 earnings per share for the current year.

CVS Health Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, November 1st. Shareholders of record on Monday, October 21st will be paid a $0.665 dividend. The ex-dividend date of this dividend is Monday, October 21st. This represents a $2.66 annualized dividend and a yield of 3.99%. CVS Health’s payout ratio is currently 46.75%.

Institutional Investors Weigh In On CVS Health

Several hedge funds have recently made changes to their positions in the business. Pzena Investment Management LLC boosted its stake in CVS Health by 132.9% in the 2nd quarter. Pzena Investment Management LLC now owns 12,936,388 shares of the pharmacy operator’s stock worth $764,023,000 after buying an additional 7,382,931 shares during the last quarter. Capital International Investors boosted its holdings in shares of CVS Health by 12.5% in the 1st quarter. Capital International Investors now owns 37,917,923 shares of the pharmacy operator’s stock valued at $3,024,334,000 after purchasing an additional 4,226,225 shares during the last quarter. Capital World Investors increased its holdings in shares of CVS Health by 8.0% during the 1st quarter. Capital World Investors now owns 43,776,874 shares of the pharmacy operator’s stock worth $3,491,643,000 after buying an additional 3,232,172 shares during the last quarter. State of Michigan Retirement System raised its position in shares of CVS Health by 402.5% in the 2nd quarter. State of Michigan Retirement System now owns 2,005,677 shares of the pharmacy operator’s stock worth $118,455,000 after buying an additional 1,606,500 shares during the period. Finally, Swedbank AB purchased a new stake in CVS Health during the first quarter valued at about $110,816,000. Institutional investors and hedge funds own 80.66% of the company’s stock.

About CVS Health

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.