CVS Health (NYSE:CVS) Price Target Raised to $55.00

CVS Health (NYSE:CVS) had its price target upped by Leerink Partners from $51.00 to $55.00 in a report issued on Tuesday. Leerink Partners currently has a market perform rating on the pharmacy operator’s stock.

A number of other analysts have also recently weighed in on CVS. TD Cowen raised their price target on shares of CVS Health from $73.00 to $80.00 and gave the company a “buy” rating in a report on Monday, November 25th. Truist Financial reduced their price target on shares of CVS Health from $67.00 to $60.00 and set a “buy” rating for the company in a research report on Monday, January 6th. UBS Group cut their target price on shares of CVS Health from $62.00 to $59.00 and set a “neutral” rating for the company in a report on Tuesday. Deutsche Bank Aktiengesellschaft raised 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. Finally, Piper Sandler dropped their price target on shares of CVS Health from $72.00 to $64.00 and set an “overweight” rating on the stock in a research note on Monday, November 25th. Five research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $70.28.

CVS Health Stock Up 4.9 %

Shares of CVS Health stock opened at $66.35 on Tuesday. 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 1 year low of $43.56 and a 1 year high of $80.75. The firm’s 50-day moving average is $50.71 and its two-hundred day moving average is $55.94. The stock has a market cap of $83.49 billion, a price-to-earnings ratio of 16.84, a PEG ratio of 0.60 and a beta of 0.61.

CVS Health (NYSE:CVS) last issued its earnings results on Wednesday, February 12th. The pharmacy operator reported $1.19 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.89 by $0.30. CVS Health had a net margin of 1.36% and a return on equity of 10.72%. As a group, research analysts expect that CVS Health will post 5.14 earnings per share for the current fiscal year.

CVS Health Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, February 3rd. Investors of record on Thursday, January 23rd were issued a $0.665 dividend. This represents a $2.66 dividend on an annualized basis and a yield of 4.01%. The ex-dividend date was Thursday, January 23rd. CVS Health’s dividend payout ratio (DPR) is 72.68%.

Hedge Funds Weigh In On CVS Health

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. CANADA LIFE ASSURANCE Co boosted its holdings in shares of CVS Health by 3.4% in the fourth quarter. CANADA LIFE ASSURANCE Co now owns 2,115,154 shares of the pharmacy operator’s stock valued at $94,890,000 after acquiring an additional 69,641 shares during the period. Strategic Investment Solutions Inc. IL raised its stake in shares of CVS Health by 77.2% during the fourth quarter. Strategic Investment Solutions Inc. IL now owns 1,024 shares of the pharmacy operator’s stock worth $46,000 after purchasing an additional 446 shares during the last quarter. MSH Capital Advisors LLC purchased a new position in CVS Health in the fourth quarter worth $218,000. Dodge & Cox raised its position in CVS Health by 11.2% in the fourth quarter. Dodge & Cox now owns 70,105,899 shares of the pharmacy operator’s stock worth $3,147,054,000 after acquiring an additional 7,075,209 shares in the last quarter. Finally, Jump Financial LLC raised its position in CVS Health by 3,329.0% in the fourth quarter. Jump Financial LLC now owns 342,903 shares of the pharmacy operator’s stock worth $15,393,000 after acquiring an additional 332,903 shares in the last quarter. 80.66% of the stock is 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.