CVS Health (NYSE:CVS) Stock Price Expected to Rise, Evercore ISI Analyst Says

CVS Health (NYSE:CVS - Free Report) had its price objective upped by Evercore ISI from $60.00 to $65.00 in a research note issued to investors on Monday,Benzinga reports. Evercore ISI currently has an outperform rating on the pharmacy operator's stock.

A number of other research analysts have also commented on the company. Cantor Fitzgerald restated a "neutral" rating and issued a $62.00 target price on shares of CVS Health in a research note on Tuesday, October 1st. TD Cowen raised their price objective on shares of CVS Health from $73.00 to $80.00 and gave the stock a "buy" rating in a report on Monday, November 25th. Deutsche Bank Aktiengesellschaft raised shares of CVS Health from a "hold" rating to a "buy" rating and set a $66.00 price target for the company in a research report on Tuesday, December 3rd. Mizuho lowered their price objective on CVS Health from $73.00 to $66.00 and set an "outperform" rating on the stock in a research note on Thursday, October 24th. Finally, UBS Group boosted their price target on CVS Health from $60.00 to $62.00 and gave the company a "neutral" rating in a research note on Thursday, November 7th. 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, CVS Health currently has an average rating of "Moderate Buy" and an average price target of $68.12.

CVS Health Stock Performance

CVS stock traded up $1.25 during mid-day trading on Monday, reaching $57.45. 14,018,429 shares of the stock traded hands, compared to its average volume of 13,772,261. 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 business has a 50-day moving average of $51.24 and a two-hundred day moving average of $56.19. The firm has a market capitalization of $72.29 billion, a PE ratio of 14.58, a P/E/G ratio of 0.80 and a beta of 0.59. CVS Health has a 52 week low of $43.56 and a 52 week high of $80.75.

CVS Health (NYSE:CVS - Get Free Report) last issued its quarterly earnings results on Wednesday, November 6th. The pharmacy operator reported $1.09 EPS 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 for the quarter, compared to the consensus estimate of $92.72 billion. During the same period in the previous year, the business posted $2.21 EPS. The company's revenue for the quarter was up 6.3% on a year-over-year basis. As a group, equities analysts predict that CVS Health will post 5.22 EPS for the current fiscal year.

CVS Health Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, February 3rd. Investors of record on Thursday, January 23rd will be issued a $0.665 dividend. This represents a $2.66 annualized dividend and a yield of 4.63%. The ex-dividend date is Thursday, January 23rd. CVS Health's dividend payout ratio is 67.51%.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. State Street Corp lifted its holdings in CVS Health by 3.6% in the third quarter. State Street Corp now owns 56,527,909 shares of the pharmacy operator's stock valued at $3,554,475,000 after buying an additional 1,989,066 shares during the period. Geode Capital Management LLC lifted its stake in shares of CVS Health by 1.8% in the 3rd quarter. Geode Capital Management LLC now owns 26,361,673 shares of the pharmacy operator's stock valued at $1,651,997,000 after purchasing an additional 461,569 shares during the period. Pzena Investment Management LLC boosted its position in shares of CVS Health by 1.5% in the 3rd quarter. Pzena Investment Management LLC now owns 13,135,308 shares of the pharmacy operator's stock worth $825,948,000 after purchasing an additional 198,920 shares during the last quarter. Charles Schwab Investment Management Inc. increased its holdings in CVS Health by 2.6% in the third quarter. Charles Schwab Investment Management Inc. now owns 12,208,668 shares of the pharmacy operator's stock valued at $767,681,000 after purchasing an additional 304,386 shares during the last quarter. Finally, Hotchkis & Wiley Capital Management LLC lifted its stake in CVS Health by 34.8% in the third quarter. Hotchkis & Wiley Capital Management LLC now owns 11,897,034 shares of the pharmacy operator's stock valued at $748,085,000 after buying an additional 3,071,613 shares during the period. 80.66% of the stock is currently owned by institutional investors and hedge funds.

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.