CVS Health (NYSE:CVS) Trading 2.7% Higher After Analyst Upgrade

CVS Health Co. (NYSE:CVS) shares rose 2.7% during trading on Monday after Evercore ISI raised their price target on the stock from $60.00 to $65.00. Evercore ISI currently has an outperform rating on the stock. CVS Health traded as high as $56.77 and last traded at $56.04. Approximately 3,148,189 shares changed hands during trading, a decline of 76% from the average daily volume of 13,225,995 shares. The stock had previously closed at $54.55.

CVS has been the topic of a number of other reports. Wells Fargo & Company upgraded shares of CVS Health from an “equal weight” rating to an “overweight” rating and lifted their price objective for the company from $60.00 to $66.00 in a research note on Monday, November 18th. TD Cowen upped their price target on shares of CVS Health from $73.00 to $80.00 and gave the stock a “buy” rating in a research note on Monday, November 25th. Deutsche Bank Aktiengesellschaft upgraded CVS Health from a “hold” rating to a “buy” rating and set a $66.00 price objective for the company in a report on Tuesday, December 3rd. Mizuho lowered their target price on CVS Health from $73.00 to $66.00 and set an “outperform” rating on the stock in a report on Thursday, October 24th. Finally, Piper Sandler reduced their price objective on shares of CVS Health from $72.00 to $64.00 and set an “overweight” rating for the company in a research report on Monday, November 25th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and thirteen have given 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 target price of $68.12.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the company. Yousif Capital Management LLC increased its stake in CVS Health by 1.6% during the fourth quarter. Yousif Capital Management LLC now owns 225,627 shares of the pharmacy operator’s stock valued at $10,128,000 after acquiring an additional 3,604 shares during the period. Old North State Wealth Management LLC increased its stake in CVS Health by 15.1% in the fourth quarter. Old North State Wealth Management LLC now owns 82,720 shares of the pharmacy operator’s stock valued at $3,717,000 after acquiring an additional 10,865 shares during the period. ARGA Investment Management LP raised its position in CVS Health by 7,567.7% in the fourth quarter. ARGA Investment Management LP now owns 2,402,901 shares of the pharmacy operator’s stock worth $107,866,000 after purchasing an additional 2,371,563 shares in the last quarter. E. Ohman J or Asset Management AB lifted its stake in CVS Health by 14.1% during the fourth quarter. E. Ohman J or Asset Management AB now owns 57,350 shares of the pharmacy operator’s stock worth $2,574,000 after purchasing an additional 7,070 shares during the period. Finally, Tandem Capital Management Corp ADV acquired a new stake in CVS Health in the 4th quarter valued at $1,002,000. Institutional investors and hedge funds own 80.66% of the company’s stock.

CVS Health Stock Up 2.1 %

The company has a debt-to-equity ratio of 0.80, a quick ratio of 0.59 and a current ratio of 0.80. The firm has a market cap of $70.07 billion, a price-to-earnings ratio of 14.18, a PEG ratio of 0.80 and a beta of 0.59. The business’s 50-day moving average is $51.24 and its 200-day moving average is $56.20.

CVS Health (NYSE:CVS) last issued 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 business had revenue of $95.43 billion during the quarter, compared to analyst estimates of $92.72 billion. CVS Health had a net margin of 1.36% and a return on equity of 10.72%. CVS Health’s revenue for the quarter was up 6.3% compared to the same quarter last year. During the same quarter last year, the business posted $2.21 earnings per share. On average, equities analysts predict that CVS Health Co. will post 5.22 EPS for the current year.

CVS Health Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, February 3rd. Shareholders of record on Thursday, January 23rd will be given a dividend of $0.665 per share. The ex-dividend date is Thursday, January 23rd. This represents a $2.66 dividend on an annualized basis and a yield of 4.78%. CVS Health’s payout ratio is presently 67.51%.

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.