CVS Health Co. (NYSE:CVS - Get Free Report)'s stock price shot up 5.7% during trading on Wednesday . The company traded as high as $46.59 and last traded at $46.53. 4,449,280 shares were traded during mid-day trading, a decline of 61% from the average session volume of 11,458,583 shares. The stock had previously closed at $44.04.
Analyst Ratings Changes
A number of analysts recently issued reports on the company. UBS Group boosted their price objective on CVS Health from $60.00 to $62.00 and gave the company a "neutral" rating in a research note on Thursday, November 7th. Royal Bank of Canada dropped their price objective on shares of CVS Health from $68.00 to $58.00 and set an "outperform" rating for the company in a report on Friday, November 15th. Truist Financial reiterated a "buy" rating and set a $67.00 price target (down from $76.00) on shares of CVS Health in a research report on Wednesday, November 20th. Wells Fargo & Company raised CVS Health from an "equal weight" rating to an "overweight" rating and raised their price objective for the company from $60.00 to $66.00 in a research note on Monday, November 18th. Finally, Mizuho cut their target price on shares of CVS Health from $73.00 to $66.00 and set an "outperform" rating on the stock in a report on Thursday, October 24th. One research analyst has rated the stock with a sell rating, six have given a hold rating and fourteen have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $70.50.
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CVS Health Stock Performance
The company has a quick ratio of 0.59, a current ratio of 0.80 and a debt-to-equity ratio of 0.80. The business's fifty day moving average is $57.55 and its two-hundred day moving average is $58.54. The stock has a market capitalization of $56.98 billion, a PE ratio of 11.49, a price-to-earnings-growth ratio of 0.89 and a beta of 0.54.
CVS Health (NYSE:CVS - Get Free Report) last released 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 firm had revenue of $95.43 billion during the quarter, compared to analysts' expectations of $92.72 billion. During the same period in the previous year, the company earned $2.21 EPS. The firm's revenue for the quarter was up 6.3% compared to the same quarter last year. As a group, research analysts anticipate that CVS Health Co. will post 5.32 EPS for the current fiscal year.
CVS Health Announces Dividend
The company also recently disclosed a quarterly dividend, which was paid on Friday, November 1st. Investors of record on Monday, October 21st were issued 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 5.87%. CVS Health's payout ratio is currently 67.51%.
Institutional Inflows and Outflows
Institutional investors and hedge funds have recently made changes to their positions in the stock. MidAtlantic Capital Management Inc. acquired a new stake in shares of CVS Health in the 3rd quarter worth $25,000. Livelsberger Financial Advisory acquired a new position in shares of CVS Health in the 3rd quarter valued at $31,000. Legacy Investment Solutions LLC acquired a new stake in CVS Health during the 3rd quarter valued at approximately $31,000. Reston Wealth Management LLC acquired a new stake in CVS Health during the 3rd quarter worth about $32,000. Finally, Kathleen S. Wright Associates Inc. purchased a new stake in CVS Health in the 3rd quarter worth approximately $33,000. 80.66% of the stock is currently owned by hedge funds and other institutional investors.
About CVS Health
(
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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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