CVS Health Co. (NYSE:CVS - Get Free Report) was down 0.5% on Wednesday . The stock traded as low as $55.65 and last traded at $56.06. Approximately 999,238 shares were traded during trading, a decline of 92% from the average daily volume of 12,395,242 shares. The stock had previously closed at $56.35.
Analysts Set New Price Targets
A number of analysts have commented on the stock. Barclays reduced their target price 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 decreased their price target on CVS Health from $72.00 to $64.00 and set an "overweight" rating on the stock in a report on Monday, November 25th. TD Cowen raised their target price on shares of CVS Health from $73.00 to $80.00 and gave the company a "buy" rating in a research note on Monday, November 25th. Edward Jones raised shares of CVS Health from a "hold" rating to a "buy" rating in a research note on Thursday, January 30th. Finally, Deutsche Bank Aktiengesellschaft upgraded shares of CVS Health from a "hold" rating to a "buy" rating and set a $66.00 price objective on the stock in a research report on Tuesday, December 3rd. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and fourteen have issued a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $68.12.
Get Our Latest Stock Report on CVS Health
CVS Health Trading Down 1.8 %
The company has a debt-to-equity ratio of 0.80, a current ratio of 0.80 and a quick ratio of 0.59. The business's 50 day simple moving average is $51.11 and its 200 day simple moving average is $56.06. The company has a market capitalization of $69.66 billion, a price-to-earnings ratio of 14.06, a price-to-earnings-growth ratio of 0.62 and a beta of 0.61.
CVS Health (NYSE:CVS - Get Free Report) last released its quarterly earnings results 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. The company had revenue of $95.43 billion during the quarter, compared to the consensus estimate of $92.72 billion. CVS Health had a return on equity of 10.72% and a net margin of 1.36%. CVS Health's revenue was up 6.3% compared to the same quarter last year. During the same quarter last year, the business posted $2.21 earnings per share. Research analysts anticipate that CVS Health Co. will post 5.14 EPS for the current year.
CVS Health Announces Dividend
The business also recently declared a quarterly dividend, which was paid on Monday, February 3rd. Investors of record on Thursday, January 23rd were paid a $0.665 dividend. The ex-dividend date of this dividend was Thursday, January 23rd. This represents a $2.66 dividend on an annualized basis and a dividend yield of 4.81%. CVS Health's dividend payout ratio (DPR) is presently 67.51%.
Hedge Funds Weigh In On CVS Health
A number of hedge funds have recently modified their holdings of CVS. MidAtlantic Capital Management Inc. acquired a new position in shares of CVS Health in the 3rd quarter worth approximately $25,000. Ridgewood Investments LLC lifted its holdings in shares of CVS Health by 255.7% in the fourth quarter. Ridgewood Investments LLC now owns 626 shares of the pharmacy operator's stock valued at $28,000 after purchasing an additional 450 shares in the last quarter. Stonebridge Financial Group LLC bought a new stake in CVS Health during the 4th quarter worth about $28,000. Livelsberger Financial Advisory acquired a new stake in CVS Health in the 3rd quarter valued at about $31,000. Finally, Legacy Investment Solutions LLC acquired a new position in CVS Health in the 3rd quarter valued at about $31,000. 80.66% of the stock is currently owned by institutional investors and hedge funds.
CVS Health Company Profile
(
Get Free Report)
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.
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