CVS Health (NYSE:CVS) Trading 6.3% Higher – Time to Buy?

CVS Health Co. (NYSE:CVS)’s stock price shot up 6.3% during trading on Monday . The company traded as high as $51.05 and last traded at $51.03. 8,925,225 shares changed hands during mid-day trading, a decline of 29% from the average session volume of 12,486,032 shares. The stock had previously closed at $48.01.

Analyst Ratings Changes

Several analysts have recently weighed in on the stock. TD Cowen raised their price objective on shares of CVS Health from $73.00 to $80.00 and gave the stock a “buy” rating in a report on Monday, November 25th. UBS Group lifted 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. Barclays decreased their target price on CVS Health from $75.00 to $71.00 and set an “overweight” rating on the stock in a report on Thursday, November 7th. Royal Bank of Canada cut their price target on CVS Health from $68.00 to $58.00 and set an “outperform” rating for the company in a report on Friday, November 15th. Finally, Deutsche Bank Aktiengesellschaft raised shares of CVS Health from a “hold” rating to a “buy” rating and set a $66.00 price objective on the stock in a report on Tuesday, December 3rd. One research 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’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $68.71.

CVS Health Stock Up 1.1 %

The business has a fifty day moving average of $51.68 and a 200 day moving average of $56.44. 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 $65.63 billion, a P/E ratio of 13.24, a P/E/G ratio of 0.85 and a beta of 0.59.

CVS Health (NYSE:CVS) last announced its quarterly earnings results on Wednesday, November 6th. The pharmacy operator reported $1.09 EPS for the quarter, beating analysts’ consensus estimates of $1.08 by $0.01. CVS Health had a return on equity of 10.72% and a net margin of 1.36%. The company had revenue of $95.43 billion during the quarter, compared to analysts’ expectations of $92.72 billion. During the same period in the prior year, the business posted $2.21 EPS. CVS Health’s revenue was up 6.3% on a year-over-year basis. On average, equities research analysts predict that CVS Health Co. will post 5.32 EPS for the current year.

CVS Health Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, February 3rd. Stockholders of record on Thursday, January 23rd will be issued a $0.665 dividend. This represents a $2.66 annualized dividend and a dividend yield of 5.10%. The ex-dividend date is Thursday, January 23rd. CVS Health’s dividend payout ratio (DPR) is 67.51%.

Institutional Trading of CVS Health

Several hedge funds have recently added to or reduced their stakes in the business. MidAtlantic Capital Management Inc. acquired a new stake in shares of CVS Health during the third quarter worth about $25,000. Ridgewood Investments LLC raised its holdings in CVS Health by 255.7% during the 4th quarter. Ridgewood Investments LLC now owns 626 shares of the pharmacy operator’s stock worth $28,000 after buying an additional 450 shares during the period. Livelsberger Financial Advisory bought a new position in CVS Health in the third quarter valued at approximately $31,000. Legacy Investment Solutions LLC acquired a new position in shares of CVS Health in the third quarter valued at approximately $31,000. Finally, Reston Wealth Management LLC bought a new stake in shares of CVS Health during the third quarter worth $32,000. 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.