CVS Health (NYSE:CVS) Price Target Cut to $64.00 by Analysts at Piper Sandler

CVS Health (NYSE:CVS) had its price objective cut by Piper Sandler from $72.00 to $64.00 in a report released on Monday,Benzinga reports. They currently have an overweight rating on the pharmacy operator’s stock.

Several other equities analysts have also issued reports on CVS. UBS Group boosted 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. Deutsche Bank Aktiengesellschaft cut their target price on CVS Health from $64.00 to $63.00 and set a “hold” rating for the company in a research note on Friday, August 9th. Truist Financial reiterated a “buy” rating and set a $67.00 price target (down previously from $76.00) on shares of CVS Health in a research note on Wednesday, November 20th. TD Cowen upgraded shares of CVS Health from a “hold” rating to a “buy” rating and lifted their target price for the company from $59.00 to $85.00 in a research report on Friday, October 4th. Finally, StockNews.com lowered shares of CVS Health from a “hold” rating to a “sell” rating in a research report on Thursday, November 14th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and thirteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, CVS Health presently has an average rating of “Moderate Buy” and a consensus price target of $70.33.

CVS Health Stock Performance

Shares of NYSE CVS opened at $60.10 on Monday. CVS Health has a 12 month low of $52.71 and a 12 month high of $83.25. The company has a quick ratio of 0.59, a current ratio of 0.80 and a debt-to-equity ratio of 0.80. The company has a market cap of $75.63 billion, a P/E ratio of 15.25, a P/E/G ratio of 0.98 and a beta of 0.55. The business’s 50 day moving average is $59.25 and its two-hundred day moving average is $58.67.

CVS Health (NYSE:CVS) last released its earnings results on Wednesday, November 6th. The pharmacy operator reported $1.09 EPS for the quarter, beating the consensus estimate of $1.08 by $0.01. The firm had revenue of $95.43 billion during the quarter, compared to analysts’ expectations of $92.72 billion. CVS Health had a net margin of 1.36% and a return on equity of 10.72%. The business’s quarterly revenue was up 6.3% compared to the same quarter last year. During the same period in the prior year, the company earned $2.21 EPS. On average, equities analysts expect that CVS Health will post 5.43 EPS for the current year.

CVS Health Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, November 1st. Investors of record on Monday, October 21st were given a dividend of $0.665 per share. The ex-dividend date was Monday, October 21st. This represents a $2.66 annualized dividend and a yield of 4.43%. CVS Health’s dividend payout ratio (DPR) is 67.51%.

Institutional Investors Weigh In On CVS Health

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Waverly Advisors LLC raised its position in CVS Health by 25.0% in the 1st quarter. Waverly Advisors LLC now owns 14,057 shares of the pharmacy operator’s stock worth $1,121,000 after purchasing an additional 2,815 shares during the last quarter. Janus Henderson Group PLC increased its stake in shares of CVS Health by 2.5% in the 1st quarter. Janus Henderson Group PLC now owns 177,372 shares of the pharmacy operator’s stock valued at $14,143,000 after buying an additional 4,318 shares during the period. B. Riley Wealth Advisors Inc. raised its position in shares of CVS Health by 29.3% during the first quarter. B. Riley Wealth Advisors Inc. now owns 79,876 shares of the pharmacy operator’s stock worth $6,371,000 after acquiring an additional 18,093 shares during the last quarter. Semmax Financial Advisors Inc. lifted its stake in shares of CVS Health by 28.0% during the first quarter. Semmax Financial Advisors Inc. now owns 14,157 shares of the pharmacy operator’s stock valued at $1,129,000 after acquiring an additional 3,099 shares during the period. Finally, KLCM Advisors Inc. boosted its holdings in CVS Health by 53.8% in the first quarter. KLCM Advisors Inc. now owns 4,724 shares of the pharmacy operator’s stock valued at $377,000 after acquiring an additional 1,652 shares during the last quarter. 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.