CVS Health (NYSE:CVS) Rating Increased to Overweight at Wells Fargo & Company

Wells Fargo & Company upgraded shares of CVS Health (NYSE:CVS) from an equal weight rating to an overweight rating in a report released on Monday morning, Marketbeat Ratings reports. They currently have $66.00 price target on the pharmacy operator’s stock, up from their previous price target of $60.00.

CVS has been the topic of a number of other research reports. Cantor Fitzgerald reissued a “neutral” rating and issued a $62.00 price target on shares of CVS Health in a research report on Tuesday, October 1st. Deutsche Bank Aktiengesellschaft lowered their price target on shares of CVS Health from $64.00 to $63.00 and set a “hold” rating on the stock in a report on Friday, August 9th. StockNews.com downgraded shares of CVS Health from a “hold” rating to a “sell” rating in a research note on Thursday, November 14th. Evercore ISI upped their price target on shares of CVS Health from $62.00 to $75.00 and gave the stock an “outperform” rating in a research report on Tuesday, October 8th. Finally, Barclays reduced their target price on shares of CVS Health from $75.00 to $71.00 and set an “overweight” rating on the stock in a research note on Thursday, November 7th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and thirteen have given a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $72.78.

CVS Health Stock Performance

CVS Health stock opened at $56.08 on Monday. The firm’s 50 day simple moving average is $59.19 and its 200-day simple moving average is $58.60. The company has a market cap of $70.57 billion, a P/E ratio of 14.23, a price-to-earnings-growth ratio of 0.92 and a beta of 0.55. The company has a debt-to-equity ratio of 0.80, a current ratio of 0.80 and a quick ratio of 0.59. CVS Health has a fifty-two week low of $52.71 and a fifty-two week high of $83.25.

CVS Health (NYSE:CVS) last posted its quarterly earnings results on Wednesday, November 6th. The pharmacy operator reported $1.09 EPS for the quarter, topping the consensus estimate of $1.08 by $0.01. The business 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 firm’s quarterly revenue was up 6.3% compared to the same quarter last year. During the same period last year, the company posted $2.21 earnings per share. As a group, equities research analysts predict that CVS Health will post 5.48 EPS for the current year.

CVS Health Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, November 1st. Stockholders of record on Monday, October 21st were given a $0.665 dividend. The ex-dividend date was Monday, October 21st. This represents a $2.66 dividend on an annualized basis and a dividend yield of 4.74%. CVS Health’s dividend payout ratio (DPR) is presently 67.51%.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in CVS. MidAtlantic Capital Management Inc. purchased a new position in shares of CVS Health during the third quarter worth about $25,000. Livelsberger Financial Advisory acquired a new stake in CVS Health in the third quarter valued at about $31,000. Legacy Investment Solutions LLC acquired a new stake in shares of CVS Health during the 3rd quarter valued at approximately $31,000. Reston Wealth Management LLC acquired a new position in shares of CVS Health during the 3rd quarter worth approximately $32,000. Finally, First Community Trust NA raised its position 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 currently 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.