CVS Health (NYSE:CVS) Trading 0.8% Higher – Here’s Why

CVS Health Co. (NYSE:CVS)’s stock price traded up 0.8% on Wednesday . The stock traded as high as $54.54 and last traded at $54.48. 1,367,587 shares were traded during trading, a decline of 88% from the average session volume of 11,298,789 shares. The stock had previously closed at $54.03.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on the company. Cantor Fitzgerald reaffirmed a “neutral” rating and set a $62.00 target price on shares of CVS Health in a research note on Tuesday, October 1st. TD Cowen upgraded CVS Health from a “hold” rating to a “buy” rating and lifted their price target for the company from $59.00 to $85.00 in a report on Friday, October 4th. Barclays reduced their price target on CVS Health from $75.00 to $71.00 and set an “overweight” rating for the company in a report on Thursday, November 7th. Truist Financial lifted their price target on CVS Health from $66.00 to $76.00 and gave the company a “buy” rating in a report on Friday, October 11th. Finally, Wells Fargo & Company reduced their price target on CVS Health from $61.00 to $60.00 and set an “equal weight” rating for the company in a report on Monday, November 4th. Nine research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $73.00.

CVS Health Trading Up 0.5 %

The company has a market capitalization of $68.36 billion, a price-to-earnings ratio of 13.83, a price-to-earnings-growth ratio of 0.94 and a beta of 0.55. The business has a fifty day moving average price of $59.47 and a 200 day moving average price of $58.88. 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) last released its quarterly earnings data 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. The business had revenue of $95.43 billion for the quarter, compared to analysts’ expectations of $92.72 billion. CVS Health had a return on equity of 10.72% and a net margin of 1.36%. CVS Health’s quarterly revenue was up 6.3% on a year-over-year basis. During the same period in the previous year, the business posted $2.21 earnings per share. On average, equities analysts expect that CVS Health Co. will post 5.44 EPS for the current fiscal year.

CVS Health Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, November 1st. Stockholders of record on Monday, October 21st were given a dividend of $0.665 per share. This represents a $2.66 dividend on an annualized basis and a dividend yield of 4.90%. The ex-dividend date of this dividend was Monday, October 21st. CVS Health’s dividend payout ratio is presently 67.51%.

Institutional Trading of CVS Health

A number of institutional investors and hedge funds have recently modified their holdings of CVS. MidAtlantic Capital Management Inc. bought a new stake in CVS Health in the third quarter valued at $25,000. Livelsberger Financial Advisory bought a new stake in CVS Health in the third quarter valued at $31,000. Crewe Advisors LLC bought a new stake in CVS Health in the first quarter valued at $40,000. Reston Wealth Management LLC bought a new stake in CVS Health in the third quarter valued at $32,000. Finally, Kathleen S. Wright Associates Inc. bought a new stake in CVS Health in the third quarter valued at $33,000. 80.66% of the stock is currently owned by institutional investors.

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.