CVS Health (NYSE:CVS) Price Target Raised to $80.00 at TD Cowen

CVS Health (NYSE:CVS) had its price target raised by TD Cowen from $73.00 to $80.00 in a report issued on Monday,Benzinga reports. The brokerage currently has a buy rating on the pharmacy operator’s stock.

Other equities analysts have also recently issued reports about the stock. Barclays lowered their price objective on shares of CVS Health from $75.00 to $71.00 and set an “overweight” rating for the company in a research report on Thursday, November 7th. UBS Group increased their price target on CVS Health from $60.00 to $62.00 and gave the company a “neutral” rating in a research note on Thursday, November 7th. Wells Fargo & Company upgraded CVS Health from an “equal weight” rating to an “overweight” rating and boosted their price objective for the stock from $60.00 to $66.00 in a research report on Monday, November 18th. Mizuho dropped their target price on CVS Health from $73.00 to $66.00 and set an “outperform” rating for the company in a research report on Thursday, October 24th. Finally, Cantor Fitzgerald reaffirmed a “neutral” rating and issued a $62.00 price objective on shares of CVS Health in a research note on Tuesday, October 1st. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and thirteen have given a buy rating to the stock. Based on data from MarketBeat, CVS Health currently has a consensus rating of “Moderate Buy” and an average target price of $70.33.

CVS Health Stock Up 1.6 %

Shares of CVS opened at $59.96 on Monday. The firm has a 50 day simple moving average of $59.30 and a two-hundred day simple moving average of $58.72. The company has a market cap of $75.45 billion, a P/E ratio of 15.22, a P/E/G ratio of 1.01 and a beta of 0.55. CVS Health has a one year low of $52.71 and a one year high of $83.25. The company has a debt-to-equity ratio of 0.80, a current ratio of 0.80 and a quick ratio of 0.59.

CVS Health (NYSE:CVS) last announced its quarterly earnings data on Wednesday, November 6th. The pharmacy operator reported $1.09 earnings per share for the quarter, topping the consensus estimate of $1.08 by $0.01. CVS Health had a return on equity of 10.72% and a net margin of 1.36%. The business had revenue of $95.43 billion during the quarter, compared to the consensus estimate of $92.72 billion. During the same period in the prior year, the company earned $2.21 EPS. CVS Health’s revenue for the quarter was up 6.3% on a year-over-year basis. Research analysts forecast that CVS Health will post 5.43 EPS for the current fiscal year.

CVS Health Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, November 1st. Shareholders 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 yield of 4.44%. CVS Health’s payout ratio is currently 67.51%.

Hedge Funds Weigh In On CVS Health

Institutional investors have recently added to or reduced their stakes in the business. Assetmark Inc. increased its stake in shares of CVS Health by 9.7% in the 3rd quarter. Assetmark Inc. now owns 410,001 shares of the pharmacy operator’s stock valued at $25,781,000 after acquiring an additional 36,132 shares in the last quarter. Cullinan Associates Inc. increased its stake in CVS Health by 43.8% in the third quarter. Cullinan Associates Inc. now owns 122,682 shares of the pharmacy operator’s stock valued at $7,125,000 after purchasing an additional 37,395 shares in the last quarter. Sompo Asset Management Co. Ltd. raised its holdings in shares of CVS Health by 8.4% during the third quarter. Sompo Asset Management Co. Ltd. now owns 134,523 shares of the pharmacy operator’s stock valued at $8,459,000 after purchasing an additional 10,453 shares during the period. Deerfield Management Company L.P. Series C bought a new position in shares of CVS Health during the 2nd quarter worth about $57,584,000. Finally, Oppenheimer Asset Management Inc. grew its stake in shares of CVS Health by 5.7% in the 3rd quarter. Oppenheimer Asset Management Inc. now owns 448,323 shares of the pharmacy operator’s stock valued at $28,191,000 after buying an additional 24,285 shares during the period. 80.66% of the stock is 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.