CVS Health (NYSE:CVS) Price Target Raised to $76.00 at Truist Financial

CVS Health (NYSE:CVS) had its price target increased by Truist Financial from $60.00 to $76.00 in a report issued on Thursday,Benzinga reports. The brokerage currently has a buy rating on the pharmacy operator’s stock.

CVS has been the topic of several other research reports. UBS Group cut their target price on CVS Health from $62.00 to $59.00 and set a “neutral” rating on the stock in a research report on Tuesday. Leerink Partners upgraded shares of CVS Health from a “market perform” rating to an “outperform” rating and boosted their price objective for the company from $55.00 to $75.00 in a research report on Thursday. Mizuho dropped their price target on shares of CVS Health from $73.00 to $66.00 and set an “outperform” rating for the company in a research note on Thursday, October 24th. StockNews.com downgraded CVS Health from a “hold” rating to a “sell” rating in a report on Thursday, November 14th. Finally, Piper Sandler lowered their price objective 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. Five analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $70.28.

CVS Health Stock Up 4.9 %

NYSE CVS opened at $66.35 on Thursday. The stock has a 50 day moving average price of $50.71 and a 200-day moving average price of $55.94. CVS Health has a one year low of $43.56 and a one year high of $80.75. The company has a market capitalization of $83.49 billion, a P/E ratio of 16.84, a P/E/G ratio of 0.60 and a beta of 0.61. The company has a debt-to-equity ratio of 0.80, a quick ratio of 0.59 and a current ratio of 0.80.

CVS Health (NYSE:CVS) last issued its quarterly earnings data on Wednesday, February 12th. The pharmacy operator reported $1.19 EPS for the quarter, topping analysts’ consensus estimates of $0.89 by $0.30. CVS Health had a net margin of 1.36% and a return on equity of 10.72%. As a group, equities analysts predict that CVS Health will post 5.14 EPS for the current fiscal year.

CVS Health Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, February 3rd. Investors of record on Thursday, January 23rd were given a dividend of $0.665 per share. This represents a $2.66 annualized dividend and a yield of 4.01%. The ex-dividend date of this dividend was Thursday, January 23rd. CVS Health’s dividend payout ratio is currently 72.68%.

Institutional Investors Weigh In On CVS Health

A number of hedge funds and other institutional investors have recently made changes to their positions in CVS. MidAtlantic Capital Management Inc. purchased a new stake in CVS Health during the third quarter worth $25,000. Ridgewood Investments LLC boosted 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 worth $28,000 after acquiring an additional 450 shares in the last quarter. Stonebridge Financial Group LLC acquired a new stake in shares of CVS Health during the 4th quarter valued at about $28,000. Hopwood Financial Services Inc. purchased a new position in shares of CVS Health in the 4th quarter valued at about $29,000. Finally, Livelsberger Financial Advisory acquired a new position in CVS Health in the 3rd quarter worth about $31,000. Institutional investors and hedge funds 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.