CVS Health Co. (NYSE:CVS) Receives $89.44 Average Target Price from Analysts

Shares of CVS Health Co. (NYSE:CVSGet Free Report) have earned a consensus rating of “Moderate Buy” from the fifteen analysts that are presently covering the company, MarketBeat.com reports. Three equities research analysts have rated the stock with a hold recommendation and twelve have assigned a buy recommendation to the company. The average 12-month price objective among brokers that have updated their coverage on the stock in the last year is $89.44.

A number of research analysts have issued reports on CVS shares. Royal Bank of Canada cut their price target on shares of CVS Health from $86.00 to $84.00 and set an “outperform” rating on the stock in a research note on Thursday, February 8th. Barclays began coverage on shares of CVS Health in a research note on Wednesday, March 6th. They set an “equal weight” rating and a $78.00 price target on the stock. Leerink Partnrs reaffirmed an “outperform” rating on shares of CVS Health in a report on Monday, February 26th. Piper Sandler upped their price objective on shares of CVS Health from $93.00 to $94.00 and gave the company an “overweight” rating in a report on Friday, March 15th. Finally, SVB Leerink began coverage on shares of CVS Health in a report on Monday, February 26th. They issued an “outperform” rating and a $88.00 price objective on the stock.

Check Out Our Latest Research Report on CVS Health

Insider Buying and Selling at CVS Health

In other CVS Health news, EVP Prem S. Shah sold 29,473 shares of the stock in a transaction on Friday, February 16th. The shares were sold at an average price of $76.95, for a total transaction of $2,267,947.35. Following the transaction, the executive vice president now directly owns 39,765 shares of the company’s stock, valued at $3,059,916.75. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Insiders own 0.24% of the company’s stock.

Institutional Investors Weigh In On CVS Health

A number of hedge funds have recently modified their holdings of CVS. Vanguard Group Inc. increased its position in CVS Health by 0.5% during the fourth quarter. Vanguard Group Inc. now owns 117,696,285 shares of the pharmacy operator’s stock worth $9,293,299,000 after purchasing an additional 533,659 shares during the last quarter. Capital World Investors increased its position in CVS Health by 0.3% during the fourth quarter. Capital World Investors now owns 40,544,702 shares of the pharmacy operator’s stock worth $3,201,410,000 after purchasing an additional 119,631 shares during the last quarter. Capital International Investors increased its position in CVS Health by 47.4% during the fourth quarter. Capital International Investors now owns 33,691,698 shares of the pharmacy operator’s stock worth $2,660,298,000 after purchasing an additional 10,837,801 shares during the last quarter. Morgan Stanley increased its position in CVS Health by 10.9% during the fourth quarter. Morgan Stanley now owns 33,576,388 shares of the pharmacy operator’s stock worth $3,128,984,000 after purchasing an additional 3,311,928 shares during the last quarter. Finally, Dodge & Cox increased its position in CVS Health by 13.8% during the fourth quarter. Dodge & Cox now owns 30,413,390 shares of the pharmacy operator’s stock worth $2,401,441,000 after purchasing an additional 3,690,408 shares during the last quarter. 80.66% of the stock is currently owned by institutional investors and hedge funds.

CVS Health Trading Up 0.5 %

NYSE CVS opened at $69.75 on Friday. The company has a quick ratio of 0.63, a current ratio of 0.86 and a debt-to-equity ratio of 0.77. The firm has a market cap of $87.92 billion, a PE ratio of 10.80, a price-to-earnings-growth ratio of 0.92 and a beta of 0.52. The company has a 50 day moving average price of $75.29 and a 200 day moving average price of $73.77. CVS Health has a 52 week low of $64.41 and a 52 week high of $83.25.

CVS Health (NYSE:CVSGet Free Report) last posted its quarterly earnings data on Wednesday, February 7th. The pharmacy operator reported $2.12 EPS for the quarter, topping the consensus estimate of $2.01 by $0.11. CVS Health had a net margin of 2.33% and a return on equity of 15.25%. The firm had revenue of $93.81 billion during the quarter, compared to analyst estimates of $90.58 billion. During the same quarter in the previous year, the business posted $1.99 EPS. CVS Health’s revenue was up 11.9% on a year-over-year basis. As a group, sell-side analysts forecast that CVS Health will post 8.32 EPS for the current fiscal year.

CVS Health Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 1st. Shareholders of record on Monday, April 22nd will be issued a dividend of $0.665 per share. This represents a $2.66 annualized dividend and a yield of 3.81%. The ex-dividend date is Friday, April 19th. CVS Health’s payout ratio is 41.18%.

CVS Health Company Profile

(Get Free Report

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.

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Analyst Recommendations for CVS Health (NYSE:CVS)

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