CVS Health (NYSE:CVS) Shares Up 0.6% – What’s Next?

Shares of CVS Health Co. (NYSE:CVS) shot up 0.6% during mid-day trading on Tuesday . The stock traded as high as $53.07 and last traded at $52.94. 2,136,588 shares were traded during trading, a decline of 84% from the average session volume of 13,610,521 shares. The stock had previously closed at $52.62.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on CVS. Piper Sandler lowered their target price on shares of CVS Health from $72.00 to $64.00 and set an “overweight” rating for the company in a report on Monday, November 25th. Deutsche Bank Aktiengesellschaft upgraded shares of 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. Truist Financial lowered their target price on shares of CVS Health from $67.00 to $60.00 and set a “buy” rating for the company in a report on Monday, January 6th. Cantor Fitzgerald reiterated a “neutral” rating and set a $62.00 target price on shares of CVS Health in a report on Tuesday, October 1st. Finally, Barclays lowered their target price on shares of CVS Health from $75.00 to $71.00 and set an “overweight” rating for the company in a report on Thursday, November 7th. One investment 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. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $68.71.

CVS Health Stock Performance

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 $67.79 billion, a P/E ratio of 13.67, a P/E/G ratio of 0.80 and a beta of 0.59. The business’s 50-day simple moving average is $51.23 and its 200 day simple moving average is $56.24.

CVS Health (NYSE:CVS) last posted its quarterly earnings data 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 firm had revenue of $95.43 billion during the quarter, compared to analyst estimates of $92.72 billion. CVS Health had a return on equity of 10.72% and a net margin of 1.36%. CVS Health’s revenue was up 6.3% on a year-over-year basis. During the same period in the prior year, the business posted $2.21 EPS. As a group, equities analysts predict that CVS Health Co. will post 5.22 earnings per share for the current year.

CVS Health Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, February 3rd. Stockholders of record on Thursday, January 23rd will be paid a $0.665 dividend. The ex-dividend date of this dividend is Thursday, January 23rd. This represents a $2.66 annualized dividend and a dividend yield of 4.94%. CVS Health’s dividend payout ratio (DPR) is 67.51%.

Institutional Investors Weigh In On CVS Health

Several hedge funds and other institutional investors have recently modified their holdings of the stock. MidAtlantic Capital Management Inc. bought a new position in CVS Health in the 3rd quarter worth $25,000. Ridgewood Investments LLC boosted its holdings in CVS Health by 255.7% in the 4th quarter. Ridgewood Investments LLC now owns 626 shares of the pharmacy operator’s stock worth $28,000 after buying an additional 450 shares during the period. Livelsberger Financial Advisory bought a new position in CVS Health in the 3rd quarter worth $31,000. Legacy Investment Solutions LLC bought a new position in CVS Health in the 3rd quarter worth $31,000. Finally, Reston Wealth Management LLC bought a new position in CVS Health in the 3rd quarter worth $32,000. 80.66% of the stock is currently owned by hedge funds and other institutional investors.

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.