CVS Health Co. (NYSE:CVS - Get Free Report)'s share price traded up 0.6% during mid-day trading on Tuesday . The stock traded as high as $53.07 and last traded at $52.94. 2,136,588 shares changed hands during trading, a decline of 84% from the average session volume of 13,610,521 shares. The stock had previously closed at $52.62.
Wall Street Analysts Forecast Growth
A number of equities analysts have recently commented on CVS shares. UBS Group increased their price target on shares of CVS Health from $60.00 to $62.00 and gave the stock a "neutral" rating in a report on Thursday, November 7th. Wells Fargo & Company raised CVS Health from an "equal weight" rating to an "overweight" rating and lifted their price target for the stock from $60.00 to $66.00 in a research note on Monday, November 18th. Piper Sandler decreased their price objective on CVS Health from $72.00 to $64.00 and set an "overweight" rating on the stock in a report on Monday, November 25th. Evercore ISI boosted their target price on CVS Health from $62.00 to $75.00 and gave the company an "outperform" rating in a research note on Tuesday, October 8th. Finally, Cantor Fitzgerald reiterated a "neutral" rating and issued a $62.00 price target on shares of CVS Health in a report on Tuesday, October 1st. One research analyst has rated the stock with a sell rating, six have given a hold rating and thirteen have assigned a buy rating to the company's stock. According to data from MarketBeat.com, CVS Health has an average rating of "Moderate Buy" and an average target price of $68.71.
Read Our Latest Stock Report on CVS
CVS Health Price Performance
The stock has a 50-day moving average price of $51.27 and a two-hundred day moving average price of $56.29. The stock has a market cap of $66.50 billion, a price-to-earnings ratio of 13.40, a PEG ratio of 0.79 and a beta of 0.59. The company has a current ratio of 0.80, a quick ratio of 0.59 and a debt-to-equity ratio of 0.80.
CVS Health (NYSE:CVS - Get Free Report) last released its 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. The company had revenue of $95.43 billion during the quarter, compared to analysts' expectations of $92.72 billion. CVS Health had a net margin of 1.36% and a return on equity of 10.72%. CVS Health's revenue for the quarter was up 6.3% on a year-over-year basis. During the same period last year, the business earned $2.21 EPS. As a group, equities research analysts forecast that CVS Health Co. will post 5.22 EPS for the current year.
CVS Health Announces Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Monday, February 3rd. Shareholders of record on Thursday, January 23rd will be given a $0.665 dividend. The ex-dividend date of this dividend is Thursday, January 23rd. This represents a $2.66 annualized dividend and a yield of 5.03%. CVS Health's dividend payout ratio is presently 67.51%.
Institutional Trading of CVS Health
Hedge funds have recently added to or reduced their stakes in the company. Sound Income Strategies LLC increased its stake in CVS Health by 7.2% during the third 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 last quarter. Hexagon Capital Partners LLC boosted its stake in CVS Health by 3.5% in the third 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 during the period. Bruce G. Allen Investments LLC grew its holdings in shares of CVS Health by 13.1% during the third quarter. Bruce G. Allen Investments LLC now owns 1,681 shares of the pharmacy operator's stock valued at $106,000 after purchasing an additional 195 shares during the last quarter. Integrated Advisors Network LLC lifted its holdings in shares of CVS Health by 0.7% in the 3rd quarter. Integrated Advisors Network LLC now owns 27,625 shares of the pharmacy operator's stock worth $1,737,000 after purchasing an additional 200 shares during the last quarter. Finally, Widmann Financial Services Inc. increased its position in CVS Health by 1.8% in the third quarter. Widmann Financial Services Inc. now owns 11,506 shares of the pharmacy operator's stock worth $724,000 after buying an additional 200 shares during the period. 80.66% of the stock is owned by hedge funds and other institutional investors.
About CVS Health
(
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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