Barclays Cuts CVS Health (NYSE:CVS) Price Target to $75.00

CVS Health (NYSE:CVS) had its target price reduced by Barclays from $82.00 to $75.00 in a research report sent to investors on Wednesday, Benzinga reports. They currently have an overweight rating on the pharmacy operator’s stock.

Several other equities analysts have also recently issued reports on the company. 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 upgraded shares of CVS Health from a “hold” rating to a “buy” rating and boosted their price target for the stock from $59.00 to $85.00 in a research report on Friday, October 4th. Evercore ISI raised their price objective on shares of CVS Health from $62.00 to $75.00 and gave the company an “outperform” rating in a research report on Tuesday, October 8th. Truist Financial boosted their target price on shares of CVS Health from $66.00 to $76.00 and gave the stock a “buy” rating in a report on Friday, October 11th. Finally, Deutsche Bank Aktiengesellschaft reduced their target price on shares of CVS Health from $64.00 to $63.00 and set a “hold” rating for the company in a report on Friday, August 9th. Nine analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $74.58.

CVS Health Price Performance

Shares of CVS opened at $56.49 on Wednesday. The firm has a market capitalization of $71.06 billion, a price-to-earnings ratio of 10.05, a price-to-earnings-growth ratio of 0.84 and a beta of 0.54. The stock’s fifty day moving average is $59.85 and its 200-day moving average is $60.14. CVS Health has a one year low of $52.77 and a one 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.

CVS Health (NYSE:CVS) last released its quarterly earnings results on Wednesday, August 7th. The pharmacy operator reported $1.83 EPS for the quarter, topping analysts’ consensus estimates of $1.73 by $0.10. The company had revenue of $91.23 billion for the quarter, compared to the consensus estimate of $91.41 billion. CVS Health had a net margin of 1.98% and a return on equity of 12.72%. CVS Health’s revenue was up 2.6% on a year-over-year basis. During the same period in the previous year, the firm earned $2.21 EPS. Equities analysts anticipate that CVS Health will post 6.41 EPS for the current year.

CVS Health Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, November 1st. Shareholders of record on Monday, October 21st will be given a $0.665 dividend. The ex-dividend date of this dividend is Monday, October 21st. This represents a $2.66 dividend on an annualized basis and a yield of 4.71%. CVS Health’s payout ratio is 47.33%.

Hedge Funds Weigh In On CVS Health

Hedge funds have recently modified their holdings of the stock. Livelsberger Financial Advisory purchased a new position in CVS Health in the third quarter valued at about $31,000. Crewe Advisors LLC acquired a new position in CVS Health in the first quarter worth approximately $40,000. Retirement Group LLC raised its position in CVS Health by 54.3% during the first quarter. Retirement Group LLC now owns 517 shares of the pharmacy operator’s stock valued at $41,000 after acquiring an additional 182 shares in the last quarter. Kathleen S. Wright Associates Inc. bought a new stake in CVS Health in the third quarter worth approximately $33,000. Finally, First Community Trust NA increased its stake in shares of CVS Health by 116.2% during the 2nd quarter. First Community Trust NA now owns 562 shares of the pharmacy operator’s stock worth $33,000 after purchasing an additional 302 shares during the last quarter. 80.66% of the stock is owned by institutional investors and hedge funds.

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.