CVS Health Co. (NYSE:CVS) Receives $68.71 Consensus Target Price from Analysts

CVS Health Co. (NYSE:CVS) has been given an average recommendation of “Moderate Buy” by the nineteen analysts that are covering the company, MarketBeat reports. Six investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. The average 12 month target price among brokerages that have updated their coverage on the stock in the last year is $68.71.

A number of brokerages have commented on CVS. Barclays decreased their price objective on shares of CVS Health from $75.00 to $71.00 and set an “overweight” rating on the stock in a report on Thursday, November 7th. Evercore ISI raised their price target on shares of CVS Health from $62.00 to $75.00 and gave the company an “outperform” rating in a report on Tuesday, October 8th. Wells Fargo & Company raised CVS Health from an “equal weight” rating to an “overweight” rating and upped their price objective for the stock from $60.00 to $66.00 in a report on Monday, November 18th. Royal Bank of Canada dropped their target price on CVS Health from $68.00 to $58.00 and set an “outperform” rating for the company in a research report on Friday, November 15th. Finally, Truist Financial decreased their price target on CVS Health from $67.00 to $60.00 and set a “buy” rating on the stock in a report on Monday, January 6th.

CVS Health Price Performance

Shares of CVS Health stock opened at $54.71 on Friday. CVS Health has a 1-year low of $43.56 and a 1-year high of $80.75. The firm’s 50-day moving average price is $51.24 and its two-hundred day moving average price is $56.21. The company has a current ratio of 0.80, a quick ratio of 0.59 and a debt-to-equity ratio of 0.80. The stock has a market capitalization of $68.84 billion, a price-to-earnings ratio of 13.88, a P/E/G ratio of 0.80 and a beta of 0.59.

CVS Health (NYSE:CVS) last released its quarterly 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. The firm had revenue of $95.43 billion during the quarter, compared to analysts’ expectations of $92.72 billion. CVS Health had a return on equity of 10.72% and a net margin of 1.36%. The business’s revenue was up 6.3% on a year-over-year basis. During the same period last year, the firm posted $2.21 EPS. On average, equities analysts predict that CVS Health will post 5.22 earnings per share for the current fiscal year.

CVS Health Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, February 3rd. Investors of record on Thursday, January 23rd will be given a $0.665 dividend. This represents a $2.66 dividend on an annualized basis and a dividend yield of 4.86%. The ex-dividend date is Thursday, January 23rd. CVS Health’s dividend payout ratio is currently 67.51%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. MidAtlantic Capital Management Inc. bought a new position in shares of CVS Health during the 3rd quarter valued at about $25,000. Ridgewood Investments LLC lifted its stake in CVS Health by 255.7% in the fourth quarter. Ridgewood Investments LLC now owns 626 shares of the pharmacy operator’s stock valued at $28,000 after buying an additional 450 shares in the last quarter. Livelsberger Financial Advisory acquired a new position in shares of CVS Health in the third quarter valued at approximately $31,000. Legacy Investment Solutions LLC acquired a new stake in shares of CVS Health during the third quarter worth $31,000. Finally, Reston Wealth Management LLC bought a new stake in CVS Health in the 3rd quarter valued at $32,000. 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.