Brokerages Set CVS Health Co. (NYSE:CVS) Price Target at $72.10

CVS Health Co. (NYSE:CVS) has earned a consensus recommendation of “Moderate Buy” from the twenty-one research firms that are currently covering the company, MarketBeat.com reports. Ten analysts have rated the stock with a hold recommendation and eleven have issued a buy recommendation on the company. The average 12 month price target among analysts that have issued a report on the stock in the last year is $72.10.

A number of analysts recently weighed in on CVS shares. Robert W. Baird started coverage on shares of CVS Health in a report on Thursday, May 30th. They issued a “neutral” rating and a $61.00 price objective on the stock. Cantor Fitzgerald reaffirmed a “neutral” rating and issued a $62.00 price objective on shares of CVS Health in a report on Monday. Wells Fargo & Company increased their price objective on shares of CVS Health from $60.00 to $61.00 and gave the stock an “equal weight” rating in a report on Monday, August 12th. Baird R W raised shares of CVS Health to a “hold” rating in a report on Thursday, May 30th. Finally, Barclays dropped their price objective on shares of CVS Health from $65.00 to $63.00 and set an “equal weight” rating on the stock in a report on Thursday, August 8th.

Hedge Funds Weigh In On CVS Health

Hedge funds have recently made changes to their positions in the business. Newbridge Financial Services Group Inc. boosted its holdings in shares of CVS Health by 82.5% in the second quarter. Newbridge Financial Services Group Inc. now owns 4,096 shares of the pharmacy operator’s stock worth $242,000 after buying an additional 1,852 shares during the period. Prio Wealth Limited Partnership boosted 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 worth $3,391,000 after buying an additional 600 shares during the period. Sanctuary Advisors LLC acquired a new position in shares of CVS Health in the second quarter worth about $8,005,000. Brown Financial Advisors acquired a new position in shares of CVS Health in the second quarter worth about $684,000. Finally, Strategic Investment Solutions Inc. IL acquired a new position in shares of CVS Health in the second quarter worth about $63,000. Institutional investors and hedge funds own 80.66% of the company’s stock.

CVS Health Trading Up 1.0 %

CVS Health stock opened at $58.42 on Monday. The firm’s 50-day moving average is $58.33 and its 200-day moving average is $62.74. The company has a debt-to-equity ratio of 0.83, a quick ratio of 0.66 and a current ratio of 0.86. CVS Health has a 1 year low of $52.77 and a 1 year high of $83.25. The company has a market cap of $73.34 billion, a P/E ratio of 10.27, a PEG ratio of 0.79 and a beta of 0.53.

CVS Health (NYSE:CVS) last posted its quarterly earnings results on Wednesday, August 7th. The pharmacy operator reported $1.83 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.73 by $0.10. CVS Health had a net margin of 1.98% and a return on equity of 12.72%. The company had revenue of $91.23 billion for the quarter, compared to the consensus estimate of $91.41 billion. During the same period last year, the firm posted $2.21 EPS. The company’s revenue for the quarter was up 2.6% on a year-over-year basis. On average, equities analysts expect that CVS Health will post 6.51 earnings per share for the current year.

CVS Health Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, August 1st. Stockholders of record on Monday, July 22nd were paid a $0.665 dividend. The ex-dividend date of this dividend was Monday, July 22nd. This represents a $2.66 annualized dividend and a dividend yield of 4.55%. CVS Health’s dividend payout ratio is currently 46.75%.

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.