TD Cowen Issues Positive Forecast for CVS Health (NYSE:CVS) Stock Price

CVS Health (NYSE:CVS) had its target price raised by TD Cowen from $73.00 to $80.00 in a report issued on Monday,Benzinga reports. The brokerage currently has a buy rating on the pharmacy operator’s stock.

Other analysts have also recently issued research reports about the company. Royal Bank of Canada cut their price objective on CVS Health from $68.00 to $58.00 and set an “outperform” rating on the stock in a research note on Friday, November 15th. UBS Group raised their price objective on CVS Health from $60.00 to $62.00 and gave the stock a “neutral” rating in a research note on Thursday, November 7th. Deutsche Bank Aktiengesellschaft lowered their target price on shares of CVS Health from $64.00 to $63.00 and set a “hold” rating for the company in a research note on Friday, August 9th. Barclays reduced their price target on shares of CVS Health from $75.00 to $71.00 and set an “overweight” rating on the stock in a research report on Thursday, November 7th. Finally, Truist Financial reaffirmed a “buy” rating and set a $67.00 price objective (down previously from $76.00) on shares of CVS Health in a research report on Wednesday, November 20th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and thirteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $70.33.

CVS Health Stock Performance

Shares of CVS opened at $60.10 on Monday. CVS Health has a 52-week low of $52.71 and a 52-week high of $83.25. 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 firm has a market cap of $75.63 billion, a price-to-earnings ratio of 15.25, a PEG ratio of 0.98 and a beta of 0.55. The business’s 50 day moving average is $59.25 and its two-hundred day moving average is $58.67.

CVS Health (NYSE:CVS) last posted its quarterly earnings data on Wednesday, November 6th. The pharmacy operator reported $1.09 EPS for the quarter, beating analysts’ consensus estimates of $1.08 by $0.01. The firm had revenue of $95.43 billion for the quarter, compared to the consensus estimate of $92.72 billion. CVS Health had a net margin of 1.36% and a return on equity of 10.72%. The firm’s revenue was up 6.3% compared to the same quarter last year. During the same period in the prior year, the firm posted $2.21 EPS. Analysts forecast that CVS Health will post 5.43 EPS for the current fiscal year.

CVS Health Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, November 1st. Stockholders of record on Monday, October 21st were paid a $0.665 dividend. This represents a $2.66 dividend on an annualized basis and a dividend yield of 4.43%. The ex-dividend date was Monday, October 21st. CVS Health’s dividend payout ratio is currently 67.51%.

Institutional Investors Weigh In On CVS Health

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Waverly Advisors LLC boosted its stake in CVS Health by 25.0% during the first quarter. Waverly Advisors LLC now owns 14,057 shares of the pharmacy operator’s stock valued at $1,121,000 after buying an additional 2,815 shares in the last quarter. Janus Henderson Group PLC grew its stake in shares of CVS Health by 2.5% in the 1st quarter. Janus Henderson Group PLC now owns 177,372 shares of the pharmacy operator’s stock worth $14,143,000 after purchasing an additional 4,318 shares during the last quarter. B. Riley Wealth Advisors Inc. raised its holdings in shares of CVS Health by 29.3% in the 1st quarter. B. Riley Wealth Advisors Inc. now owns 79,876 shares of the pharmacy operator’s stock worth $6,371,000 after purchasing an additional 18,093 shares in the last quarter. Semmax Financial Advisors Inc. boosted its holdings in CVS Health by 28.0% during the first quarter. Semmax Financial Advisors Inc. now owns 14,157 shares of the pharmacy operator’s stock worth $1,129,000 after buying an additional 3,099 shares in the last quarter. Finally, KLCM Advisors Inc. grew its position in CVS Health by 53.8% in the first quarter. KLCM Advisors Inc. now owns 4,724 shares of the pharmacy operator’s stock worth $377,000 after buying an additional 1,652 shares during the last quarter. Institutional investors own 80.66% of the company’s stock.

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.