CVS Health (NYSE:CVS) Price Target Raised to $81.00 at JPMorgan Chase & Co.

CVS Health (NYSE:CVS - Free Report) had its price target increased by JPMorgan Chase & Co. from $80.00 to $81.00 in a research report report published on Tuesday morning,Benzinga reports. JPMorgan Chase & Co. currently has an overweight rating on the pharmacy operator's stock.

Other analysts have also recently issued reports about the stock. StockNews.com raised shares of CVS Health from a "sell" rating to a "hold" rating in a report on Thursday, February 13th. Edward Jones upgraded CVS Health from a "hold" rating to a "buy" rating in a research report on Thursday, January 30th. Deutsche Bank Aktiengesellschaft upgraded CVS Health from a "hold" rating to a "buy" rating and set a $66.00 target price for the company in a research report on Tuesday, December 3rd. Truist Financial lifted their target price on CVS Health from $60.00 to $76.00 and gave the stock a "buy" rating in a research report on Thursday, February 13th. Finally, UBS Group decreased their target price on CVS Health from $62.00 to $59.00 and set a "neutral" rating for the company in a research report on Tuesday, February 11th. Four research 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 MarketBeat.com, CVS Health has a consensus rating of "Moderate Buy" and a consensus price target of $70.00.

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CVS Health Stock Down 2.6 %

Shares of CVS Health stock traded down $1.68 during trading hours on Tuesday, hitting $63.42. 14,116,181 shares of the company's stock traded hands, compared to its average volume of 13,108,504. The stock has a 50 day simple moving average of $52.39 and a 200-day simple moving average of $56.23. The company has a quick ratio of 0.60, a current ratio of 0.81 and a debt-to-equity ratio of 0.80. The company has a market cap of $79.95 billion, a PE ratio of 17.33, a PEG ratio of 0.99 and a beta of 0.61. CVS Health has a twelve month low of $43.56 and a twelve month high of $80.75.

CVS Health (NYSE:CVS - Get Free Report) last announced its earnings results on Wednesday, February 12th. The pharmacy operator reported $1.19 earnings per share for the quarter, beating the consensus estimate of $0.89 by $0.30. CVS Health had a return on equity of 9.11% and a net margin of 1.24%. Equities research analysts anticipate that CVS Health will post 5.9 earnings per share for the current fiscal year.

CVS Health Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, February 3rd. Shareholders of record on Thursday, January 23rd were given a dividend of $0.665 per share. The ex-dividend date was Thursday, January 23rd. This represents a $2.66 dividend on an annualized basis and a yield of 4.19%. CVS Health's dividend payout ratio (DPR) is presently 72.68%.

Insider Activity

In related news, Director Michael F. Mahoney purchased 30,000 shares of CVS Health stock in a transaction dated Tuesday, February 18th. The stock was bought at an average cost of $66.70 per share, with a total value of $2,001,000.00. Following the purchase, the director now owns 39,356 shares in the company, valued at approximately $2,625,045.20. The trade was a 320.65 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 0.24% of the company's stock.

Institutional Trading of CVS Health

A number of institutional investors have recently made changes to their positions in the stock. Dodge & Cox lifted its stake in shares of CVS Health by 11.2% in the 4th quarter. Dodge & Cox now owns 70,105,899 shares of the pharmacy operator's stock worth $3,147,054,000 after acquiring an additional 7,075,209 shares during the period. Capital World Investors raised its position in CVS Health by 26.6% in the fourth quarter. Capital World Investors now owns 61,039,777 shares of the pharmacy operator's stock worth $2,739,927,000 after acquiring an additional 12,819,148 shares in the last quarter. State Street Corp raised its position 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 worth $3,554,475,000 after acquiring an additional 1,989,066 shares in the last quarter. Geode Capital Management LLC raised its position in CVS Health by 2.6% in the fourth quarter. Geode Capital Management LLC now owns 27,051,540 shares of the pharmacy operator's stock worth $1,211,582,000 after acquiring an additional 689,867 shares in the last quarter. Finally, Capital International Investors raised its position in CVS Health by 4.8% in the fourth quarter. Capital International Investors now owns 26,666,401 shares of the pharmacy operator's stock worth $1,196,989,000 after acquiring an additional 1,212,126 shares in the last quarter. 80.66% of the stock is 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.