CVS Health Corp (NYSE:CVS) declared a quarterly dividend on Thursday, January 2nd, RTT News reports. Stockholders of record on Thursday, January 23rd will be given a dividend of 0.50 per share by the pharmacy operator on Monday, February 3rd. This represents a $2.00 dividend on an annualized basis and a dividend yield of 2.63%. The ex-dividend date is Wednesday, January 22nd.
CVS Health has a payout ratio of 28.0% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect CVS Health to earn $7.15 per share next year, which means the company should continue to be able to cover its $2.00 annual dividend with an expected future payout ratio of 28.0%.
CVS stock opened at $76.02 on Tuesday. The firm has a 50 day moving average of $74.22 and a 200-day moving average of $65.86. The company has a current ratio of 0.92, a quick ratio of 0.61 and a debt-to-equity ratio of 1.32. CVS Health has a 12 month low of $51.72 and a 12 month high of $77.03. The firm has a market capitalization of $98.90 billion, a P/E ratio of 22.49, a price-to-earnings-growth ratio of 1.62 and a beta of 0.89.
CVS Health (NYSE:CVS) last released its quarterly earnings data on Wednesday, November 6th. The pharmacy operator reported $1.84 EPS for the quarter, beating analysts’ consensus estimates of $1.77 by $0.07. CVS Health had a net margin of 1.83% and a return on equity of 15.45%. The company had revenue of $64.81 billion during the quarter, compared to analyst estimates of $62.99 billion. During the same period last year, the business earned $1.73 earnings per share. CVS Health’s revenue was up 36.5% compared to the same quarter last year. Sell-side analysts predict that CVS Health will post 7.03 EPS for the current year.
In other CVS Health news, EVP Troyen A. Brennan sold 23,604 shares of the business’s stock in a transaction on Monday, November 4th. The shares were sold at an average price of $68.00, for a total transaction of $1,605,072.00. Following the transaction, the executive vice president now directly owns 107,921 shares of the company’s stock, valued at approximately $7,338,628. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, EVP Karen S. Lynch sold 80,143 shares of the business’s stock in a transaction on Monday, November 18th. The shares were sold at an average price of $75.00, for a total transaction of $6,010,725.00. Following the transaction, the executive vice president now directly owns 41,831 shares in the company, valued at $3,137,325. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 427,786 shares of company stock worth $31,726,338. 0.53% of the stock is owned by insiders.
Several equities research analysts have issued reports on the stock. ValuEngine lowered shares of CVS Health from a “sell” rating to a “strong sell” rating in a research report on Saturday. Morgan Stanley lifted their target price on shares of CVS Health from $74.00 to $77.00 and gave the company an “overweight” rating in a research report on Thursday, September 26th. JPMorgan Chase & Co. lifted their target price on shares of CVS Health from $88.00 to $97.00 and gave the company an “overweight” rating in a research report on Thursday, December 19th. Royal Bank of Canada assumed coverage on shares of CVS Health in a research report on Friday, September 27th. They set an “outperform” rating and a $85.00 target price for the company. Finally, Citigroup lifted their target price on shares of CVS Health from $72.00 to $83.00 and gave the company a “buy” rating in a research report on Thursday, November 7th. They noted that the move was a valuation call. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating, seventeen have given a buy rating and one has given a strong buy rating to the company’s stock. CVS Health currently has a consensus rating of “Buy” and a consensus price target of $77.43.
About CVS Health
CVS Health Corporation provides health services and plans in the United States. Its Pharmacy Services segment offers pharmacy benefit management solutions, such as plan design and administration, formulary management, retail pharmacy network management, mail order pharmacy, specialty pharmacy and infusion, Medicare Part D, clinical, disease management, and medical spend management services.
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