CVS Health (NYSE:CVS) Trading Up 1.1% – Still a Buy?

CVS Health Co. (NYSE:CVS)’s stock price was up 1.1% during trading on Wednesday . The company traded as high as $52.25 and last traded at $52.15. Approximately 1,963,067 shares were traded during trading, a decline of 86% from the average daily volume of 13,839,423 shares. The stock had previously closed at $51.57.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on CVS shares. Royal Bank of Canada reduced their price objective on shares of CVS Health from $68.00 to $58.00 and set an “outperform” rating on the stock in a research report on Friday, November 15th. Evercore ISI boosted their price objective on shares of CVS Health from $62.00 to $75.00 and gave the company an “outperform” rating in a research report on Tuesday, October 8th. Piper Sandler reduced their price objective on shares of CVS Health from $72.00 to $64.00 and set an “overweight” rating on the stock in a research report on Monday, November 25th. TD Cowen boosted their price objective on shares of CVS Health from $73.00 to $80.00 and gave the company a “buy” rating in a research report on Monday, November 25th. Finally, StockNews.com downgraded shares of CVS Health from a “hold” rating to a “sell” rating in a research report on Thursday, November 14th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and thirteen have given a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $68.71.

CVS Health Stock Up 0.7 %

The company’s fifty day moving average is $51.68 and its 200-day moving average is $56.44. The company has a market capitalization of $65.37 billion, a PE ratio of 13.19, a price-to-earnings-growth ratio of 0.85 and a beta of 0.59. The company has a debt-to-equity ratio of 0.80, a quick ratio of 0.59 and a current ratio of 0.80.

CVS Health (NYSE:CVS) last announced its quarterly earnings data on Wednesday, November 6th. The pharmacy operator reported $1.09 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.08 by $0.01. CVS Health had a net margin of 1.36% and a return on equity of 10.72%. The business had revenue of $95.43 billion during the quarter, compared to analyst estimates of $92.72 billion. During the same period last year, the firm posted $2.21 EPS. The company’s revenue was up 6.3% on a year-over-year basis. As a group, analysts predict that CVS Health Co. will post 5.32 EPS for the current fiscal year.

CVS Health Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, February 3rd. Shareholders of record on Thursday, January 23rd will be issued a dividend of $0.665 per share. This represents a $2.66 dividend on an annualized basis and a yield of 5.12%. The ex-dividend date is Thursday, January 23rd. CVS Health’s dividend payout ratio (DPR) is currently 67.51%.

Institutional Investors Weigh In On CVS Health

A number of institutional investors have recently added to or reduced their stakes in the stock. MidAtlantic Capital Management Inc. purchased a new position in shares of CVS Health in the third quarter valued at $25,000. Livelsberger Financial Advisory purchased a new position in shares of CVS Health in the third quarter valued at $31,000. Legacy Investment Solutions LLC purchased a new position in shares of CVS Health in the third quarter valued at $31,000. Reston Wealth Management LLC purchased a new position in shares of CVS Health in the third quarter valued at $32,000. Finally, Kathleen S. Wright Associates Inc. bought a new stake in CVS Health in the third quarter worth $33,000. 80.66% of the stock is owned by hedge funds and other institutional investors.

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.