CVS Health (NYSE:CVS) Shares Up 1.5% – Here’s Why

CVS Health Co. (NYSE:CVS) shares traded up 1.5% on Monday . The company traded as high as $52.89 and last traded at $52.72. 13,362,187 shares were traded during mid-day trading, a decline of 2% from the average session volume of 13,670,579 shares. The stock had previously closed at $51.96.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on the stock. Mizuho lowered their price objective on shares of CVS Health from $73.00 to $66.00 and set an “outperform” rating on the stock in a research report on Thursday, October 24th. Royal Bank of Canada decreased their price objective on CVS Health from $68.00 to $58.00 and set an “outperform” rating on the stock in a report on Friday, November 15th. Wells Fargo & Company upgraded shares of CVS Health from an “equal weight” rating to an “overweight” rating and increased their price target for the company from $60.00 to $66.00 in a research report on Monday, November 18th. Evercore ISI increased their target price on shares of CVS Health from $62.00 to $75.00 and gave the company an “outperform” rating in a report on Tuesday, October 8th. Finally, Piper Sandler lowered their target price on CVS Health from $72.00 to $64.00 and set an “overweight” rating for the company in a research note on Monday, November 25th. One 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. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $68.71.

CVS Health Stock Performance

The business’s 50 day simple moving average is $51.34 and its two-hundred day simple moving average is $56.32. The firm has a market capitalization of $66.35 billion, a P/E ratio of 13.38, a price-to-earnings-growth ratio of 0.72 and a beta of 0.59. The company has a current ratio of 0.80, a quick ratio of 0.59 and a debt-to-equity ratio of 0.80.

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, topping 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 company had revenue of $95.43 billion during the quarter, compared to analyst estimates of $92.72 billion. During the same period in the previous year, the business earned $2.21 EPS. The firm’s revenue for the quarter was up 6.3% on a year-over-year basis. Sell-side analysts anticipate that CVS Health Co. will post 5.22 EPS for the current fiscal 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 dividend of $0.665 per share. The ex-dividend date is Thursday, January 23rd. This represents a $2.66 annualized dividend and a dividend yield of 5.05%. CVS Health’s payout ratio is 67.51%.

Institutional Investors Weigh In On CVS Health

A number of large investors have recently made changes to their positions in CVS. MidAtlantic Capital Management Inc. bought a new position in CVS Health in the 3rd quarter worth $25,000. Ridgewood Investments LLC raised its holdings 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 worth $28,000 after acquiring an additional 450 shares in the last quarter. Livelsberger Financial Advisory purchased a new position in shares of CVS Health in the 3rd quarter worth $31,000. Legacy Investment Solutions LLC purchased a new stake in CVS Health during the third quarter valued at approximately $31,000. Finally, Reston Wealth Management LLC purchased a new stake in CVS Health during the 3rd quarter valued at $32,000. 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.