CVS Health (NYSE:CVS) Earns “Neutral” Rating from Cantor Fitzgerald

Cantor Fitzgerald reaffirmed their neutral rating on shares of CVS Health (NYSE:CVS) in a report released on Monday, Benzinga reports. They currently have a $62.00 price objective on the pharmacy operator’s stock.

Several other research firms have also weighed in on CVS. Robert W. Baird began coverage on shares of CVS Health in a research note on Thursday, May 30th. They set a neutral rating and a $61.00 price objective on the stock. JPMorgan Chase & Co. lowered their price target on CVS Health from $101.00 to $86.00 and set an overweight rating on the stock in a research report on Thursday, May 30th. Evercore ISI cut their price objective on CVS Health from $65.00 to $62.00 and set an outperform rating for the company in a research report on Thursday, August 8th. Deutsche Bank Aktiengesellschaft decreased their target price on CVS Health from $64.00 to $63.00 and set a hold rating on the stock in a report on Friday, August 9th. Finally, Wells Fargo & Company lifted their price objective on shares of CVS Health from $60.00 to $61.00 and gave the stock an equal weight rating in a research report on Monday, August 12th. Eleven research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of Moderate Buy and a consensus target price of $72.10.

CVS Health Stock Down 0.0 %

Shares of CVS stock opened at $58.40 on Monday. The firm’s fifty day moving average price is $58.34 and its two-hundred day moving average price is $62.71. The company has a current ratio of 0.86, a quick ratio of 0.66 and a debt-to-equity ratio of 0.83. CVS Health has a 1 year low of $52.77 and a 1 year high of $83.25. The firm has a market capitalization of $73.31 billion, a P/E ratio of 10.26, a PEG ratio of 0.79 and a beta of 0.53.

CVS Health (NYSE:CVS) last released its earnings results on Wednesday, August 7th. The pharmacy operator reported $1.83 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.73 by $0.10. The business had revenue of $91.23 billion for the quarter, compared to the consensus estimate of $91.41 billion. CVS Health had a return on equity of 12.72% and a net margin of 1.98%. CVS Health’s quarterly revenue was up 2.6% on a year-over-year basis. During the same quarter in the previous year, the business earned $2.21 earnings per share. On average, equities analysts predict that CVS Health will post 6.51 EPS for the current fiscal year.

CVS Health Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, August 1st. Stockholders of record on Monday, July 22nd were issued a dividend of $0.665 per share. This represents a $2.66 annualized dividend and a dividend yield of 4.55%. The ex-dividend date was Monday, July 22nd. CVS Health’s dividend payout ratio (DPR) is currently 46.75%.

Institutional Investors Weigh In On CVS Health

Several institutional investors and hedge funds have recently bought and sold shares of the company. Capital International Investors raised its holdings in shares of CVS Health by 47.4% during the 4th quarter. Capital International Investors now owns 33,691,698 shares of the pharmacy operator’s stock worth $2,660,298,000 after buying an additional 10,837,801 shares in the last quarter. Pzena Investment Management LLC raised its stake in CVS Health by 132.9% during the second quarter. Pzena Investment Management LLC now owns 12,936,388 shares of the pharmacy operator’s stock worth $764,023,000 after acquiring an additional 7,382,931 shares in the last quarter. Capital World Investors boosted its stake in shares of CVS Health by 8.0% in the 1st quarter. Capital World Investors now owns 43,776,874 shares of the pharmacy operator’s stock valued at $3,491,643,000 after purchasing an additional 3,232,172 shares in the last quarter. Clearbridge Investments LLC grew its holdings in shares of CVS Health by 306.6% during the 4th quarter. Clearbridge Investments LLC now owns 3,046,216 shares of the pharmacy operator’s stock valued at $240,529,000 after purchasing an additional 2,297,100 shares during the last quarter. Finally, State of Michigan Retirement System increased its position in CVS Health by 402.5% during the 2nd quarter. State of Michigan Retirement System now owns 2,005,677 shares of the pharmacy operator’s stock worth $118,455,000 after purchasing an additional 1,606,500 shares in 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.