CVS Health (NYSE:CVS) Earns Neutral Rating from Cantor Fitzgerald

Cantor Fitzgerald reaffirmed their neutral rating on shares of CVS Health (NYSE:CVS) in a research note issued to investors on Monday morning, Benzinga reports. They currently have a $62.00 target price on the pharmacy operator’s stock.

A number of other research firms have also recently commented on CVS. Truist Financial reiterated a buy rating and set a $66.00 target price (down previously from $90.00) on shares of CVS Health in a research report on Thursday, May 2nd. Bank of America decreased their price objective on CVS Health from $95.00 to $77.00 and set a buy rating for the company in a report on Thursday, May 2nd. Deutsche Bank Aktiengesellschaft cut their target price 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. SVB Leerink reissued a market perform rating and set a $60.00 price objective (down from $87.00) on shares of CVS Health in a research report on Wednesday, May 1st. Finally, UBS Group cut shares of CVS Health from a buy rating to a neutral rating and reduced their target price for the company from $85.00 to $60.00 in a report on Thursday, May 2nd. Eleven analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of Moderate Buy and an average target price of $73.24.

CVS Health Trading Down 1.0 %

NYSE:CVS opened at $58.31 on Monday. The company has a debt-to-equity ratio of 0.78, a quick ratio of 0.61 and a current ratio of 0.81. CVS Health has a 1 year low of $52.77 and a 1 year high of $83.25. The stock has a market cap of $73.20 billion, a P/E ratio of 10.25, a P/E/G ratio of 0.57 and a beta of 0.52. The stock has a 50-day simple moving average of $58.96 and a 200-day simple moving average of $65.29.

CVS Health (NYSE:CVS) last released its quarterly earnings data on Wednesday, August 7th. The pharmacy operator reported $1.83 earnings per share for the quarter, topping analysts’ consensus estimates of $1.73 by $0.10. The company had revenue of $91.23 billion for the quarter, compared to analysts’ expectations of $91.41 billion. CVS Health had a net margin of 2.03% and a return on equity of 13.53%. The firm’s revenue for the quarter was up 2.6% on a year-over-year basis. During the same quarter last year, the company earned $2.21 earnings per share. As a group, analysts anticipate that CVS Health will post 7 earnings per share for the current fiscal year.

CVS Health Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, August 1st. Shareholders of record on Monday, July 22nd were issued a $0.665 dividend. The ex-dividend date of this dividend was Monday, July 22nd. This represents a $2.66 dividend on an annualized basis and a yield of 4.56%. CVS Health’s dividend payout ratio (DPR) is presently 46.75%.

Institutional Investors Weigh In On CVS Health

Several institutional investors have recently modified their holdings of the company. International Assets Investment Management LLC grew its stake in CVS Health by 11.4% in the 4th quarter. International Assets Investment Management LLC now owns 16,744 shares of the pharmacy operator’s stock valued at $1,322,000 after acquiring an additional 1,715 shares during the last quarter. Tennessee Valley Asset Management Partners purchased a new position in shares of CVS Health during the 4th quarter worth approximately $50,000. CWM LLC raised its position in shares of CVS Health by 1.6% during the 4th quarter. CWM LLC now owns 72,073 shares of the pharmacy operator’s stock worth $5,691,000 after purchasing an additional 1,168 shares during the last quarter. Handelsbanken Fonder AB lifted its stake in CVS Health by 14.3% in the 4th quarter. Handelsbanken Fonder AB now owns 557,756 shares of the pharmacy operator’s stock valued at $44,040,000 after buying an additional 69,594 shares in the last quarter. Finally, Commerzbank Aktiengesellschaft FI acquired a new stake in CVS Health during the 4th quarter valued at $463,000. Hedge funds and other institutional investors own 80.66% of the company’s stock.

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.