Royal Bank of Canada Increases CVS Health (NYSE:CVS) Price Target to $81.00

CVS Health (NYSE:CVS) had its price target hoisted by Royal Bank of Canada from $74.00 to $81.00 in a research report released on Monday, MarketBeat.com reports. They currently have an outperform rating on the pharmacy operator’s stock.

Several other research analysts have also weighed in on the company. StockNews.com upgraded CVS Health from a “sell” rating to a “hold” rating in a research report on Thursday, February 13th. Leerink Partners raised shares of CVS Health from a “market perform” rating to an “outperform” rating and boosted their price target for the company from $55.00 to $75.00 in a research note on Thursday, February 13th. Morgan Stanley reissued an “overweight” rating on shares of CVS Health in a research report on Tuesday, April 15th. Cantor Fitzgerald upgraded CVS Health from a “neutral” rating to an “overweight” rating in a report on Wednesday, February 12th. Finally, Wolfe Research increased their price target on shares of CVS Health from 67.00 to 70.00 and gave the stock an “overweight” rating in a research report on Tuesday, February 11th. Four analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $74.81.

CVS Health Stock Up 0.9 %

NYSE CVS opened at $66.79 on Monday. CVS Health has a one year low of $43.56 and a one year high of $72.51. The company has a debt-to-equity ratio of 0.80, a quick ratio of 0.60 and a current ratio of 0.81. The business has a fifty day moving average price of $66.84 and a 200 day moving average price of $58.91. The company has a market cap of $84.21 billion, a P/E ratio of 18.25, a P/E/G ratio of 0.98 and a beta of 0.60.

CVS Health (NYSE:CVS) last issued its earnings results on Thursday, May 1st. The pharmacy operator reported $2.25 earnings per share for the quarter, topping the consensus estimate of $1.62 by $0.63. The business had revenue of $94.59 billion for the quarter, compared to analysts’ expectations of $93.07 billion. CVS Health had a return on equity of 9.11% and a net margin of 1.24%. The business’s revenue for the quarter was up 7.0% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.31 EPS. Research analysts anticipate that CVS Health will post 5.89 EPS for the current fiscal year.

CVS Health Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, May 1st. Stockholders of record on Tuesday, April 22nd were paid a dividend of $0.665 per share. This represents a $2.66 annualized dividend and a dividend yield of 3.98%. The ex-dividend date of this dividend was Tuesday, April 22nd. CVS Health’s dividend payout ratio (DPR) is 63.48%.

Insider Buying and Selling

In related news, Director Michael F. Mahoney acquired 30,000 shares of the business’s stock in a transaction that occurred on Tuesday, February 18th. The stock was purchased at an average cost of $66.70 per share, for a total transaction of $2,001,000.00. Following the transaction, the director now directly owns 39,356 shares of the company’s stock, valued at approximately $2,625,045.20. This trade represents a 320.65 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, SVP James David Clark sold 7,513 shares of the business’s stock in a transaction on Wednesday, March 5th. The stock was sold at an average price of $66.35, for a total value of $498,487.55. Following the completion of the transaction, the senior vice president now directly owns 8,394 shares of the company’s stock, valued at approximately $556,941.90. This trade represents a 47.23 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 1.22% of the company’s stock.

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. Ridgewood Investments LLC grew its position in CVS Health by 255.7% during the fourth quarter. Ridgewood Investments LLC now owns 626 shares of the pharmacy operator’s stock valued at $28,000 after acquiring an additional 450 shares during the period. Stonebridge Financial Group LLC acquired a new position in shares of CVS Health during the 4th quarter valued at $28,000. Hopwood Financial Services Inc. acquired a new stake in CVS Health in the 4th quarter valued at $29,000. McIlrath & Eck LLC lifted its stake in shares of CVS Health by 32.6% during the fourth quarter. McIlrath & Eck LLC now owns 707 shares of the pharmacy operator’s stock worth $32,000 after purchasing an additional 174 shares in the last quarter. Finally, Financial Perspectives Inc boosted its position in shares of CVS Health by 137.5% in the fourth quarter. Financial Perspectives Inc now owns 805 shares of the pharmacy operator’s stock worth $36,000 after buying an additional 466 shares during the period. Hedge funds and other institutional investors 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.