Truist Financial Issues Pessimistic Forecast for CVS Health (NYSE:CVS) Stock Price

CVS Health (NYSE:CVS - Free Report) had its price objective trimmed by Truist Financial from $67.00 to $60.00 in a report published on Monday,Benzinga reports. The brokerage currently has a buy rating on the pharmacy operator's stock.

CVS has been the subject of a number of other research reports. Royal Bank of Canada decreased their target price on CVS Health from $68.00 to $58.00 and set an "outperform" rating for the company in a research report on Friday, November 15th. Mizuho dropped 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. Deutsche Bank Aktiengesellschaft upgraded shares of CVS Health from a "hold" rating to a "buy" rating and set a $66.00 target price for the company in a research note on Tuesday, December 3rd. Cantor Fitzgerald restated a "neutral" rating and issued a $62.00 price target on shares of CVS Health in a research note on Tuesday, October 1st. Finally, UBS Group upped their price objective on CVS Health from $60.00 to $62.00 and gave the company a "neutral" rating in a research report on Thursday, November 7th. One analyst has rated the stock with a sell rating, six have given a hold rating and thirteen have issued a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $68.71.

CVS Health Trading Up 0.1 %

CVS stock traded up $0.05 during trading on Monday, reaching $45.82. The company had a trading volume of 16,458,742 shares, compared to its average volume of 13,094,375. The company has a market cap of $57.66 billion, a P/E ratio of 11.63, a PEG ratio of 0.85 and a beta of 0.54. The business has a 50 day moving average of $52.84 and a 200 day moving average of $57.08. CVS Health has a 52 week low of $43.56 and a 52 week high of $83.25. The company has a debt-to-equity ratio of 0.80, a current ratio of 0.80 and a quick ratio of 0.59.

CVS Health (NYSE:CVS - Get Free Report) last issued its quarterly earnings results on Wednesday, November 6th. The pharmacy operator reported $1.09 earnings per share (EPS) for the quarter, beating 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 company had revenue of $95.43 billion during the quarter, compared to analysts' expectations of $92.72 billion. During the same period last year, the company posted $2.21 EPS. CVS Health's revenue was up 6.3% on a year-over-year basis. As a group, sell-side analysts forecast that CVS Health will post 5.32 earnings per share for the current fiscal year.

CVS Health Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, February 3rd. Stockholders of record on Thursday, January 23rd will be given a dividend of $0.665 per share. The ex-dividend date of this dividend is Thursday, January 23rd. This represents a $2.66 annualized dividend and a dividend yield of 5.81%. CVS Health's dividend payout ratio (DPR) is currently 67.51%.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the stock. State Street Corp boosted its stake in shares of CVS Health by 3.6% during the third quarter. State Street Corp now owns 56,527,909 shares of the pharmacy operator's stock worth $3,554,475,000 after buying an additional 1,989,066 shares during the period. Geode Capital Management LLC grew its stake in shares of CVS Health by 1.8% in the 3rd quarter. Geode Capital Management LLC now owns 26,361,673 shares of the pharmacy operator's stock valued at $1,651,997,000 after purchasing an additional 461,569 shares during the last quarter. Pzena Investment Management LLC grew its position in CVS Health by 1.5% in the 3rd quarter. Pzena Investment Management LLC now owns 13,135,308 shares of the pharmacy operator's stock valued at $825,948,000 after buying an additional 198,920 shares during the last quarter. Charles Schwab Investment Management Inc. increased its stake in CVS Health by 2.6% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 12,208,668 shares of the pharmacy operator's stock valued at $767,681,000 after buying an additional 304,386 shares during the period. Finally, Hotchkis & Wiley Capital Management LLC lifted its stake in shares of CVS Health by 34.8% in the 3rd quarter. Hotchkis & Wiley Capital Management LLC now owns 11,897,034 shares of the pharmacy operator's stock worth $748,085,000 after acquiring an additional 3,071,613 shares during the period. Institutional investors and hedge funds own 80.66% of the company's stock.

About CVS Health

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.