CVS Health (NYSE:CVS) Stock Price Up 0.7% – Here’s Why

CVS Health Co. (NYSE:CVS)’s share price shot up 0.7% during mid-day trading on Tuesday . The stock traded as high as $56.31 and last traded at $56.33. 1,691,087 shares were traded during trading, a decline of 87% from the average session volume of 12,620,503 shares. The stock had previously closed at $55.95.

Analysts Set New Price Targets

CVS has been the topic of several recent analyst reports. Deutsche Bank Aktiengesellschaft raised CVS Health from a “hold” rating to a “buy” rating and set a $66.00 target price on the stock in a report on Tuesday, December 3rd. Piper Sandler cut their target price on CVS Health from $72.00 to $64.00 and set an “overweight” rating on the stock in a research report on Monday, November 25th. Royal Bank of Canada dropped their price target on shares of CVS Health from $68.00 to $58.00 and set an “outperform” rating on the stock in a research note on Friday, November 15th. Truist Financial lowered their target price on shares of CVS Health from $67.00 to $60.00 and set a “buy” rating for the company in a report on Monday, January 6th. Finally, Edward Jones upgraded shares of CVS Health from a “hold” rating to a “buy” rating in a research note on Thursday, January 30th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and fourteen have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $68.12.

CVS Health Trading Up 0.4 %

The company has a quick ratio of 0.59, a current ratio of 0.80 and a debt-to-equity ratio of 0.80. The stock has a market capitalization of $70.70 billion, a price-to-earnings ratio of 14.26, a P/E/G ratio of 0.62 and a beta of 0.61. The company has a fifty day moving average of $51.16 and a two-hundred day moving average of $56.09.

CVS Health (NYSE:CVS) last issued its earnings results on Wednesday, November 6th. The pharmacy operator reported $1.09 earnings per share for the quarter, beating the consensus estimate of $1.08 by $0.01. The business had revenue of $95.43 billion for the quarter, compared to the consensus estimate of $92.72 billion. CVS Health had a net margin of 1.36% and a return on equity of 10.72%. The business’s quarterly revenue was up 6.3% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $2.21 earnings per share. On average, research analysts expect that CVS Health Co. will post 5.14 EPS for the current year.

CVS Health Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, February 3rd. Shareholders of record on Thursday, January 23rd were given a dividend of $0.665 per share. The ex-dividend date was Thursday, January 23rd. This represents a $2.66 dividend on an annualized basis and a yield of 4.73%. CVS Health’s payout ratio is 67.51%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in CVS. MidAtlantic Capital Management Inc. acquired a new position in shares of CVS Health in the third quarter worth $25,000. Ridgewood Investments LLC lifted its holdings in CVS Health by 255.7% in the 4th quarter. Ridgewood Investments LLC now owns 626 shares of the pharmacy operator’s stock valued at $28,000 after purchasing 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 worth about $28,000. Livelsberger Financial Advisory acquired a new position in shares of CVS Health in the third quarter valued at approximately $31,000. Finally, Legacy Investment Solutions LLC purchased a new position in shares of CVS Health during the third quarter valued at approximately $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.