CVS Health (NYSE:CVS) Shares Up 6.3% – Still a Buy?

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

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on the company. TD Cowen upped their target price on CVS Health from $73.00 to $80.00 and gave the stock a “buy” rating in a report on Monday, November 25th. UBS Group upped their price objective on shares of CVS Health from $60.00 to $62.00 and gave the stock a “neutral” rating in a research note on Thursday, November 7th. Wells Fargo & Company raised shares of CVS Health from an “equal weight” rating to an “overweight” rating and raised their target price for the company from $60.00 to $66.00 in a research report on Monday, November 18th. Piper Sandler lowered their price target on shares of CVS Health from $72.00 to $64.00 and set an “overweight” rating for the company in a research report on Monday, November 25th. Finally, Barclays lowered their target price on CVS Health from $75.00 to $71.00 and set an “overweight” rating for the company in a report on Thursday, November 7th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and thirteen have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $68.71.

CVS Health Stock Up 7.4 %

The company has a debt-to-equity ratio of 0.80, a quick ratio of 0.59 and a current ratio of 0.80. The company has a market capitalization of $64.86 billion, a price-to-earnings ratio of 13.08, a PEG ratio of 0.85 and a beta of 0.59. The business’s 50 day moving average is $51.82 and its 200 day moving average is $56.55.

CVS Health (NYSE:CVS) last announced its quarterly earnings data on Wednesday, November 6th. The pharmacy operator reported $1.09 earnings per share for the quarter, beating analysts’ consensus estimates of $1.08 by $0.01. CVS Health had a net margin of 1.36% and a return on equity of 10.72%. The firm had revenue of $95.43 billion for the quarter, compared to analyst estimates of $92.72 billion. During the same period in the previous year, the company earned $2.21 earnings per share. The business’s quarterly revenue was up 6.3% compared to the same quarter last year. Sell-side analysts anticipate that CVS Health Co. will post 5.32 earnings per share for the current year.

CVS Health Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, February 3rd. Investors of record on Thursday, January 23rd will be given a $0.665 dividend. The ex-dividend date is Thursday, January 23rd. This represents a $2.66 dividend on an annualized basis and a yield of 5.16%. CVS Health’s dividend payout ratio is currently 67.51%.

Institutional Trading of CVS Health

Institutional investors and hedge funds have recently bought and sold shares of the business. MidAtlantic Capital Management Inc. purchased a new position in shares of CVS Health during the third quarter worth $25,000. Ridgewood Investments LLC raised its stake in shares of CVS Health by 255.7% during the 4th quarter. Ridgewood Investments LLC now owns 626 shares of the pharmacy operator’s stock valued at $28,000 after buying an additional 450 shares during the last quarter. Livelsberger Financial Advisory acquired a new position in shares of CVS Health in the 3rd quarter valued at about $31,000. Legacy Investment Solutions LLC acquired a new stake in CVS Health during the third quarter worth about $31,000. Finally, Reston Wealth Management LLC purchased a new position in CVS Health during the third quarter valued at approximately $32,000. 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.