Evercore ISI Boosts CVS Health (NYSE:CVS) Price Target to $75.00

CVS Health (NYSE:CVS) had its price objective increased by Evercore ISI from $62.00 to $75.00 in a report released on Tuesday morning, Benzinga reports. They currently have an outperform rating on the pharmacy operator’s stock.

CVS has been the topic of a number of other research reports. Barclays dropped their price target on shares of CVS Health from $65.00 to $63.00 and set an equal weight rating on the stock in a research note on Thursday, August 8th. Deutsche Bank Aktiengesellschaft reduced their price target on shares of CVS Health from $64.00 to $63.00 and set a hold rating for the company in a research report on Friday, August 9th. Royal Bank of Canada reiterated an outperform rating and issued a $68.00 price objective on shares of CVS Health in a report on Wednesday, September 4th. Cantor Fitzgerald reissued a neutral rating and set a $62.00 target price on shares of CVS Health in a report on Tuesday, October 1st. Finally, Wells Fargo & Company lifted their price target on CVS Health from $60.00 to $61.00 and gave the stock an equal weight rating in a research note on Monday, August 12th. Nine equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of Moderate Buy and a consensus price target of $74.74.

CVS Health Price Performance

NYSE:CVS opened at $66.85 on Tuesday. The firm’s fifty day moving average is $58.84 and its two-hundred day moving average is $61.20. The firm has a market cap of $83.92 billion, a price-to-earnings ratio of 11.75, a PEG ratio of 0.81 and a beta of 0.54. CVS Health has a one year low of $52.77 and a one year high of $83.25. The company has a debt-to-equity ratio of 0.83, a quick ratio of 0.66 and a current ratio of 0.86.

CVS Health (NYSE:CVS) last posted its earnings results on Wednesday, August 7th. The pharmacy operator reported $1.83 EPS for the quarter, topping the consensus estimate of $1.73 by $0.10. CVS Health had a return on equity of 12.72% and a net margin of 1.98%. The firm had revenue of $91.23 billion for the quarter, compared to analyst estimates of $91.41 billion. During the same period last year, the company earned $2.21 earnings per share. CVS Health’s revenue for the quarter was up 2.6% compared to the same quarter last year. Research analysts expect that CVS Health will post 6.51 EPS for the current year.

CVS Health Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, November 1st. Shareholders of record on Monday, October 21st will be given a $0.665 dividend. The ex-dividend date is Monday, October 21st. This represents a $2.66 dividend on an annualized basis and a yield of 3.98%. CVS Health’s payout ratio is currently 46.75%.

Institutional Investors Weigh In On CVS Health

A number of institutional investors have recently made changes to their positions in CVS. First Financial Bankshares Inc acquired a new position in CVS Health during the 4th quarter worth about $1,117,000. Avidity Partners Management LP purchased a new position in shares of CVS Health in the fourth quarter valued at approximately $58,430,000. Continuum Advisory LLC grew its holdings in shares of CVS Health by 16.1% in the fourth quarter. Continuum Advisory LLC now owns 31,881 shares of the pharmacy operator’s stock valued at $2,517,000 after purchasing an additional 4,422 shares in the last quarter. Midland Wealth Advisors LLC purchased a new stake in CVS Health during the 4th quarter worth approximately $1,315,000. Finally, Comerica Bank lifted its holdings in CVS Health by 0.8% during the 4th quarter. Comerica Bank now owns 420,164 shares of the pharmacy operator’s stock worth $33,176,000 after buying an additional 3,305 shares in the last quarter. 80.66% of the stock is currently owned by institutional investors and hedge funds.

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.