TD Cowen Issues Positive Forecast for CVS Health (NYSE:CVS) Stock Price

CVS Health (NYSE:CVS - Free Report) had its price target hoisted by TD Cowen from $73.00 to $80.00 in a research note issued to investors on Monday,Benzinga reports. TD Cowen currently has a buy rating on the pharmacy operator's stock.

Several other brokerages also recently issued reports on CVS. Wells Fargo & Company raised CVS Health from an "equal weight" rating to an "overweight" rating and raised their price target for the stock from $60.00 to $66.00 in a report on Monday, November 18th. Barclays reduced their price target 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. Piper Sandler dropped their price objective on shares of CVS Health from $72.00 to $64.00 and set an "overweight" rating on the stock in a report on Monday. Cantor Fitzgerald reissued a "neutral" rating and set a $62.00 target price on shares of CVS Health in a research note on Tuesday, October 1st. Finally, Truist Financial restated a "buy" rating and issued a $67.00 price target (down previously from $76.00) on shares of CVS Health in a research note on Wednesday, November 20th. One analyst has rated the stock with a sell rating, seven have issued a hold rating and thirteen have assigned a buy rating to the company. According to data from MarketBeat.com, CVS Health has a consensus rating of "Moderate Buy" and a consensus target price of $70.33.

CVS Health Stock Performance

Shares of CVS stock traded up $2.09 on Monday, hitting $60.10. 15,613,194 shares of the stock traded hands, compared to its average volume of 11,378,049. The company has a market capitalization of $75.63 billion, a PE ratio of 15.25, a PEG ratio of 0.98 and a beta of 0.55. The company's fifty day moving average is $59.25 and its 200 day moving average is $58.67. 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 $52.71 and a 1-year high of $83.25.

CVS Health (NYSE:CVS - Get Free Report) last posted its quarterly earnings results on Wednesday, November 6th. The pharmacy operator reported $1.09 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.08 by $0.01. CVS Health had a net margin of 1.36% and a return on equity of 10.72%. The company had revenue of $95.43 billion for the quarter, compared to the consensus estimate of $92.72 billion. During the same period last year, the firm posted $2.21 EPS. The company's revenue for the quarter was up 6.3% on a year-over-year basis. On average, equities research analysts predict that CVS Health will post 5.43 earnings per share for the current fiscal year.

CVS Health Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, November 1st. Stockholders of record on Monday, October 21st were paid a $0.665 dividend. The ex-dividend date of this dividend was Monday, October 21st. This represents a $2.66 annualized dividend and a dividend yield of 4.43%. CVS Health's dividend payout ratio is currently 67.51%.

Institutional Trading of CVS Health

Large investors have recently added to or reduced their stakes in the business. Garland Capital Management Inc. boosted its stake in shares of CVS Health by 0.3% during the 2nd quarter. Garland Capital Management Inc. now owns 60,810 shares of the pharmacy operator's stock worth $3,591,000 after acquiring an additional 160 shares in the last quarter. Sound Income Strategies LLC boosted its position in shares of CVS Health by 7.2% in the 3rd quarter. Sound Income Strategies LLC now owns 2,397 shares of the pharmacy operator's stock valued at $151,000 after purchasing an additional 162 shares during the period. Plimoth Trust Co. LLC raised its holdings in CVS Health by 0.4% during the 2nd quarter. Plimoth Trust Co. LLC now owns 46,637 shares of the pharmacy operator's stock worth $2,754,000 after buying an additional 174 shares during the period. Hexagon Capital Partners LLC lifted its position in shares of CVS Health by 3.5% in the 3rd quarter. Hexagon Capital Partners LLC now owns 5,268 shares of the pharmacy operator's stock valued at $331,000 after acquiring an additional 178 shares in the last quarter. Finally, Pallas Capital Advisors LLC lifted its holdings in shares of CVS Health by 2.5% in the second quarter. Pallas Capital Advisors LLC now owns 7,458 shares of the pharmacy operator's stock valued at $447,000 after purchasing an additional 183 shares in the last quarter. 80.66% of the stock is currently owned by institutional investors.

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.