Cantor Fitzgerald Reiterates “Neutral” Rating for CVS Health (NYSE:CVS)

Cantor Fitzgerald reiterated their neutral rating on shares of CVS Health (NYSE:CVS) in a report released on Monday morning, Benzinga reports. The brokerage currently has a $62.00 price target on the pharmacy operator’s stock.

Several other equities analysts have also weighed in on CVS. Barclays reduced their price objective on CVS Health from $65.00 to $63.00 and set an equal weight rating on the stock in a research note on Thursday, August 8th. Royal Bank of Canada reissued an outperform rating and issued a $68.00 price objective on shares of CVS Health in a research report on Wednesday, September 4th. Robert W. Baird initiated coverage on shares of CVS Health in a research report on Thursday, May 30th. They set a neutral rating and a $61.00 price target for the company. JPMorgan Chase & Co. cut their price objective on CVS Health from $101.00 to $86.00 and set an overweight rating on the stock in a research report on Thursday, May 30th. Finally, Wells Fargo & Company upped 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. Eleven equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to MarketBeat.com, CVS Health has an average rating of Moderate Buy and a consensus target price of $72.10.

CVS Health Price Performance

CVS opened at $58.37 on Monday. CVS Health has a 1 year low of $52.77 and a 1 year high of $83.25. The company has a debt-to-equity ratio of 0.83, a quick ratio of 0.66 and a current ratio of 0.86. The company’s 50 day simple moving average is $58.31 and its 200 day simple moving average is $62.88. The stock has a market capitalization of $73.28 billion, a PE ratio of 10.26, a P/E/G ratio of 0.79 and a beta of 0.53.

CVS Health (NYSE:CVS) last announced its quarterly earnings data on Wednesday, August 7th. The pharmacy operator reported $1.83 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.73 by $0.10. The company had revenue of $91.23 billion during the quarter, compared to analysts’ expectations of $91.41 billion. CVS Health had a net margin of 1.98% and a return on equity of 12.72%. The business’s quarterly revenue was up 2.6% compared to the same quarter last year. During the same period in the previous year, the company earned $2.21 EPS. As a group, sell-side analysts expect that CVS Health will post 6.51 EPS for the current year.

CVS Health Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, August 1st. Shareholders of record on Monday, July 22nd were paid a dividend of $0.665 per share. This represents a $2.66 annualized dividend and a yield of 4.56%. The ex-dividend date of this dividend was Monday, July 22nd. CVS Health’s payout ratio is currently 46.75%.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in CVS. Ables Iannone Moore & Associates Inc. acquired a new position in CVS Health in the fourth quarter worth $32,000. First Community Trust NA boosted its holdings in shares of CVS Health by 116.2% in the 2nd quarter. First Community Trust NA now owns 562 shares of the pharmacy operator’s stock valued at $33,000 after buying an additional 302 shares during the period. Creekmur Asset Management LLC bought a new stake in shares of CVS Health during the 4th quarter valued at about $34,000. Steph & Co. lifted its holdings in CVS Health by 192.0% in the first quarter. Steph & Co. now owns 438 shares of the pharmacy operator’s stock worth $35,000 after acquiring an additional 288 shares during the last quarter. Finally, ORG Partners LLC boosted its stake in CVS Health by 11,840.0% in the second quarter. ORG Partners LLC now owns 597 shares of the pharmacy operator’s stock valued at $35,000 after acquiring an additional 592 shares during the period. 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.