Truist Financial Issues Positive Forecast for CVS Health (NYSE:CVS) Stock Price

CVS Health (NYSE:CVS) had its target price upped by Truist Financial from $60.00 to $76.00 in a research report report published on Thursday morning,Benzinga reports. They currently have a buy rating on the pharmacy operator’s stock.

CVS has been the topic of several other research reports. Barclays boosted their price objective on shares of CVS Health from $71.00 to $73.00 and gave the stock an “overweight” rating in a research note on Thursday. Wells Fargo & Company raised CVS Health from an “equal weight” rating to an “overweight” rating and increased their price target for the company from $60.00 to $66.00 in a research note on Monday, November 18th. Leerink Partners raised CVS Health from a “market perform” rating to an “outperform” rating and lifted their price objective for the stock from $55.00 to $75.00 in a research note on Thursday. Cantor Fitzgerald raised shares of CVS Health from a “neutral” rating to an “overweight” rating in a research report on Wednesday. Finally, StockNews.com downgraded shares of CVS Health from a “hold” rating to a “sell” rating in a research report on Thursday, November 14th. Four analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $70.28.

CVS Health Trading Down 1.0 %

NYSE CVS opened at $65.71 on Thursday. CVS Health has a twelve month low of $43.56 and a twelve month high of $80.75. The business’s fifty day moving average is $51.11 and its 200 day moving average is $56.08. The company has a quick ratio of 0.59, a current ratio of 0.80 and a debt-to-equity ratio of 0.80. The company has a market cap of $82.68 billion, a price-to-earnings ratio of 16.68, a price-to-earnings-growth ratio of 0.60 and a beta of 0.61.

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

CVS Health Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, February 3rd. Stockholders of record on Thursday, January 23rd were given a dividend of $0.665 per share. This represents a $2.66 dividend on an annualized basis and a dividend yield of 4.05%. The ex-dividend date of this dividend was Thursday, January 23rd. CVS Health’s payout ratio is 67.51%.

Institutional Trading of CVS Health

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Assetmark Inc. grew its holdings in shares of CVS Health by 9.7% during the third quarter. Assetmark Inc. now owns 410,001 shares of the pharmacy operator’s stock valued at $25,781,000 after buying an additional 36,132 shares during the last quarter. TD Private Client Wealth LLC lifted its position in CVS Health by 28.7% in the 3rd quarter. TD Private Client Wealth LLC now owns 46,938 shares of the pharmacy operator’s stock valued at $2,951,000 after acquiring an additional 10,465 shares in the last quarter. Cullinan Associates Inc. boosted its stake in CVS Health by 43.8% during the 3rd quarter. Cullinan Associates Inc. now owns 122,682 shares of the pharmacy operator’s stock valued at $7,125,000 after purchasing an additional 37,395 shares during the last quarter. Principal Financial Group Inc. increased its holdings in CVS Health by 4.8% during the 3rd quarter. Principal Financial Group Inc. now owns 1,434,476 shares of the pharmacy operator’s stock worth $90,200,000 after purchasing an additional 66,244 shares in the last quarter. Finally, Sompo Asset Management Co. Ltd. lifted its holdings in shares of CVS Health by 8.4% in the third quarter. Sompo Asset Management Co. Ltd. now owns 134,523 shares of the pharmacy operator’s stock valued at $8,459,000 after purchasing an additional 10,453 shares in the last quarter. 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.