CVS Health (NYSE:CVS) Trading 1.5% Higher on Analyst Upgrade

Shares of CVS Health Co. (NYSE:CVSGet Free Report) traded up 1.5% on Tuesday after Evercore ISI raised their price target on the stock from $60.00 to $65.00. Evercore ISI currently has an outperform rating on the stock. CVS Health traded as high as $57.33 and last traded at $57.03. 2,609,261 shares traded hands during trading, a decline of 80% from the average session volume of 13,086,002 shares. The stock had previously closed at $56.20.

Several other brokerages also recently weighed in on CVS. Deutsche Bank Aktiengesellschaft upgraded CVS Health from a “hold” rating to a “buy” rating and set a $66.00 price objective for the company in a research report on Tuesday, December 3rd. TD Cowen increased their target price on CVS Health from $73.00 to $80.00 and gave the company a “buy” rating in a research report on Monday, November 25th. Wells Fargo & Company upgraded CVS Health from an “equal weight” rating to an “overweight” rating and increased their target price for the company from $60.00 to $66.00 in a research report on Monday, November 18th. UBS Group increased their target price on CVS Health from $60.00 to $62.00 and gave the company a “neutral” rating in a research report on Thursday, November 7th. Finally, Barclays dropped their target price on CVS Health from $75.00 to $71.00 and set an “overweight” rating for the company in a research report on Thursday, November 7th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and thirteen have given a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $68.12.

View Our Latest Analysis on CVS Health

Institutional Investors Weigh In On CVS Health

Several large investors have recently added to or reduced their stakes in CVS. Farmers National Bank grew its stake in CVS Health by 5.9% in the second quarter. Farmers National Bank now owns 97,817 shares of the pharmacy operator’s stock valued at $5,777,000 after acquiring an additional 5,453 shares during the period. Strategic Investment Solutions Inc. IL acquired a new stake in CVS Health in the second quarter valued at approximately $63,000. Brown Financial Advisors acquired a new stake in CVS Health in the second quarter valued at approximately $684,000. Sanctuary Advisors LLC bought a new position in shares of CVS Health in the second quarter valued at approximately $8,005,000. Finally, Prio Wealth Limited Partnership lifted its holdings in shares of CVS Health by 1.1% in the second quarter. Prio Wealth Limited Partnership now owns 57,413 shares of the pharmacy operator’s stock valued at $3,391,000 after purchasing an additional 600 shares in the last quarter. Institutional investors and hedge funds own 80.66% of the company’s stock.

CVS Health Stock Down 0.6 %

The company has a debt-to-equity ratio of 0.80, a current ratio of 0.80 and a quick ratio of 0.59. The stock has a fifty day moving average price of $51.27 and a two-hundred day moving average price of $56.18. The company has a market cap of $71.73 billion, a P/E ratio of 14.47, a price-to-earnings-growth ratio of 0.80 and a beta of 0.59.

CVS Health (NYSE:CVSGet Free Report) last posted its earnings results on Wednesday, November 6th. The pharmacy operator reported $1.09 earnings per share for the quarter, beating analysts’ consensus estimates of $1.08 by $0.01. CVS Health had a return on equity of 10.72% and a net margin of 1.36%. The company had revenue of $95.43 billion for the quarter, compared to analyst estimates of $92.72 billion. During the same quarter last year, the company earned $2.21 earnings per share. The company’s revenue for the quarter was up 6.3% on a year-over-year basis. On average, research analysts expect that CVS Health Co. will post 5.22 EPS for the current year.

CVS Health Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, February 3rd. Investors of record on Thursday, January 23rd will be issued a dividend of $0.665 per share. The ex-dividend date is Thursday, January 23rd. This represents a $2.66 dividend on an annualized basis and a yield of 4.67%. CVS Health’s dividend payout ratio (DPR) is currently 67.51%.

CVS Health Company Profile

(Get Free Report)

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.

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