CVS Health (NYSE:CVS) Stock Price Up 2.7% on Analyst Upgrade

CVS Health Co. (NYSE:CVS - Get Free Report) traded up 2.7% during trading on Monday after Evercore ISI raised their price target on the stock from $60.00 to $65.00. Evercore ISI currently has an outperform rating on the stock. CVS Health traded as high as $56.77 and last traded at $56.04. 3,148,189 shares changed hands during trading, a decline of 76% from the average session volume of 13,225,995 shares. The stock had previously closed at $54.55.

A number of other equities analysts also recently commented on CVS. Piper Sandler reduced their target price 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. Barclays decreased their price objective on CVS Health from $75.00 to $71.00 and set an "overweight" rating on the stock in a report on Thursday, November 7th. Mizuho cut their target price on CVS Health from $73.00 to $66.00 and set an "outperform" rating for the company in a research note on Thursday, October 24th. TD Cowen increased their price target on CVS Health from $73.00 to $80.00 and gave the stock a "buy" rating in a report on Monday, November 25th. Finally, StockNews.com lowered shares of CVS Health from a "hold" rating to a "sell" rating in a report on Thursday, November 14th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and thirteen have given a buy rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $68.12.

Institutional Investors Weigh In On CVS Health

Large investors have recently modified their holdings of the stock. Assetmark Inc. raised its holdings in CVS Health by 9.7% during the third quarter. Assetmark Inc. now owns 410,001 shares of the pharmacy operator's stock worth $25,781,000 after purchasing an additional 36,132 shares during the last quarter. TD Private Client Wealth LLC lifted its stake 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 buying an additional 10,465 shares in the last quarter. Cullinan Associates Inc. grew its holdings 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 buying an additional 37,395 shares during the last quarter. Principal Financial Group Inc. raised its holdings in shares of CVS Health by 4.8% in the third quarter. Principal Financial Group Inc. now owns 1,434,476 shares of the pharmacy operator's stock worth $90,200,000 after acquiring an additional 66,244 shares during the last quarter. Finally, Sompo Asset Management Co. Ltd. lifted its position 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 acquiring an additional 10,453 shares in the last quarter. Hedge funds and other institutional investors own 80.66% of the company's stock.

CVS Health Trading Up 3.0 %

The business has a 50 day moving average of $51.24 and a 200 day moving average of $56.20. The firm has a market cap of $70.72 billion, a price-to-earnings ratio of 14.26, a price-to-earnings-growth ratio of 0.80 and a beta of 0.59. The company has a quick ratio of 0.59, a current ratio of 0.80 and a debt-to-equity ratio of 0.80.

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 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 business had revenue of $95.43 billion during the quarter, compared to the consensus estimate of $92.72 billion. During the same period in the previous year, the firm posted $2.21 earnings per share. The company's quarterly revenue was up 6.3% compared to the same quarter last year. On average, research analysts forecast that CVS Health Co. will post 5.22 earnings per share for the current fiscal year.

CVS Health Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, February 3rd. Shareholders of record on Thursday, January 23rd will be issued a $0.665 dividend. This represents a $2.66 annualized dividend and a yield of 4.73%. The ex-dividend date is Thursday, January 23rd. CVS Health's dividend payout ratio (DPR) is 67.51%.

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.