CVS Health (NYSE:CVS) Stock Price Up 1.3% – What’s Next?

CVS Health Co. (NYSE:CVS)’s stock price traded up 1.3% on Wednesday . The stock traded as high as $58.46 and last traded at $58.06. 3,437,971 shares traded hands during trading, a decline of 74% from the average session volume of 13,171,708 shares. The stock had previously closed at $57.33.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on the company. Mizuho lowered their target price on CVS Health from $73.00 to $66.00 and set an “outperform” rating on the stock in a research note on Thursday, October 24th. TD Cowen increased their target price on CVS Health from $73.00 to $80.00 and gave the company a “buy” rating in a research note on Monday, November 25th. UBS Group upped their price target on CVS Health from $60.00 to $62.00 and gave the company a “neutral” rating in a report on Thursday, November 7th. Deutsche Bank Aktiengesellschaft raised CVS Health from a “hold” rating to a “buy” rating and set a $66.00 target price for the company in a report on Tuesday, December 3rd. Finally, Royal Bank of Canada dropped their price target on CVS Health from $68.00 to $58.00 and set an “outperform” rating for the company in a report on Friday, November 15th. One research analyst has rated the stock with a sell rating, six have given a hold rating and thirteen have issued a buy rating to the company’s stock. According to MarketBeat.com, CVS Health has an average rating of “Moderate Buy” and a consensus price target of $68.12.

CVS Health Price Performance

The company has a 50 day simple moving average of $51.27 and a 200-day simple moving average of $56.18. The stock has a market cap of $71.60 billion, a price-to-earnings ratio of 14.46, a P/E/G ratio of 0.80 and a beta of 0.59. The company has a current ratio of 0.80, a quick ratio of 0.59 and a debt-to-equity ratio of 0.80.

CVS Health (NYSE:CVS) last released its earnings results on Wednesday, November 6th. The pharmacy operator reported $1.09 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.08 by $0.01. CVS Health had a return on equity of 10.72% and a net margin of 1.36%. The business had revenue of $95.43 billion for the quarter, compared to analyst estimates of $92.72 billion. During the same quarter in the prior year, the company posted $2.21 earnings per share. CVS Health’s revenue was up 6.3% on a year-over-year basis. Research analysts expect that CVS Health Co. will post 5.22 EPS for the current year.

CVS Health Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, February 3rd. Shareholders of record on Thursday, January 23rd will be paid a $0.665 dividend. The ex-dividend date is Thursday, January 23rd. This represents a $2.66 annualized dividend and a yield of 4.68%. CVS Health’s dividend payout ratio is 67.51%.

Hedge Funds Weigh In On CVS Health

Several institutional investors and hedge funds have recently made changes to their positions in the company. MidAtlantic Capital Management Inc. acquired a new stake in CVS Health during the third quarter worth approximately $25,000. Livelsberger Financial Advisory acquired a new stake in CVS Health during the third quarter worth approximately $31,000. Legacy Investment Solutions LLC bought a new stake in CVS Health during the third quarter worth $31,000. Reston Wealth Management LLC bought a new stake in CVS Health during the third quarter worth $32,000. Finally, Kathleen S. Wright Associates Inc. bought a new stake in CVS Health during the third quarter worth $33,000. 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.