CVS Health (NYSE:CVS) Stock Price Expected to Rise, TD Cowen Analyst Says

CVS Health (NYSE:CVS) had its target price lifted by TD Cowen from $73.00 to $80.00 in a research report sent to investors on Monday morning,Benzinga reports. TD Cowen currently has a buy rating on the pharmacy operator’s stock.

A number of other research firms have also weighed in on CVS. UBS Group lifted their target price on CVS Health from $60.00 to $62.00 and gave the company a “neutral” rating in a report on Thursday, November 7th. StockNews.com lowered CVS Health from a “hold” rating to a “sell” rating in a report on Thursday, November 14th. Mizuho reduced their target price on CVS Health from $73.00 to $66.00 and set an “outperform” rating for the company in a report on Thursday, October 24th. Royal Bank of Canada dropped their price target on CVS Health from $68.00 to $58.00 and set an “outperform” rating for the company in a research report on Friday, November 15th. Finally, Wells Fargo & Company upgraded CVS Health from an “equal weight” rating to an “overweight” rating and lifted their price target for the company from $60.00 to $66.00 in a research report on Monday, November 18th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and thirteen have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $70.33.

CVS Health Trading Up 1.6 %

Shares of CVS Health stock opened at $59.96 on Monday. The stock has a fifty day moving average price of $59.33 and a 200-day moving average price of $58.73. CVS Health has a 1 year low of $52.71 and a 1 year high of $83.25. The firm has a market cap of $75.45 billion, a PE ratio of 15.22, a P/E/G ratio of 1.01 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 (NYSE:CVS) last announced its quarterly earnings data on Wednesday, November 6th. The pharmacy operator reported $1.09 earnings per share for the quarter, topping the consensus estimate of $1.08 by $0.01. CVS Health had a return on equity of 10.72% and a net margin of 1.36%. The company had revenue of $95.43 billion during the quarter, compared to analyst estimates of $92.72 billion. During the same quarter last year, the firm posted $2.21 EPS. The firm’s revenue for the quarter was up 6.3% on a year-over-year basis. Equities research analysts anticipate that CVS Health will post 5.43 EPS for the current year.

CVS Health Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, November 1st. Stockholders of record on Monday, October 21st were paid a dividend of $0.665 per share. The ex-dividend date was Monday, October 21st. This represents a $2.66 annualized dividend and a dividend yield of 4.44%. CVS Health’s dividend payout ratio (DPR) is presently 67.51%.

Institutional Investors Weigh In On CVS Health

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. MidAtlantic Capital Management Inc. purchased a new stake in CVS Health in the third quarter worth $25,000. Livelsberger Financial Advisory purchased a new stake in CVS Health in the third quarter worth $31,000. Legacy Investment Solutions LLC purchased a new stake in CVS Health in the third quarter worth $31,000. Reston Wealth Management LLC purchased a new stake in CVS Health in the third quarter worth $32,000. Finally, Kathleen S. Wright Associates Inc. purchased 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.

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.