CVS Health (NYSE:CVS) Price Target Raised to $84.00

CVS Health (NYSE:CVS) had its price target upped by Truist Financial from $82.00 to $84.00 in a research note released on Monday,Benzinga reports. Truist Financial currently has a buy rating on the pharmacy operator’s stock.

Other equities analysts also recently issued research reports about the stock. Edward Jones upgraded shares of CVS Health from a “hold” rating to a “buy” rating in a report on Thursday, January 30th. UBS Group upped their price objective on shares of CVS Health from $67.00 to $71.00 and gave the company a “neutral” rating in a report on Friday, May 2nd. Piper Sandler raised their target price on shares of CVS Health from $72.00 to $74.00 and gave the stock an “overweight” rating in a report on Friday, March 21st. Leerink Partners raised shares of CVS Health from a “market perform” rating to an “outperform” rating and upped their price target for the company from $55.00 to $75.00 in a report on Thursday, February 13th. Finally, Leerink Partnrs raised CVS Health from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, February 12th. Three equities research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $74.94.

CVS Health Stock Down 0.8%

NYSE:CVS opened at $60.03 on Monday. The company’s 50 day moving average is $66.71 and its two-hundred day moving average is $59.15. The company has a market cap of $75.94 billion, a PE ratio of 16.40, a P/E/G ratio of 0.98 and a beta of 0.60. CVS Health has a twelve month low of $43.56 and a twelve month high of $72.51. The company has a current ratio of 0.81, a quick ratio of 0.60 and a debt-to-equity ratio of 0.80.

CVS Health (NYSE:CVS) last issued its quarterly earnings results on Thursday, May 1st. The pharmacy operator reported $2.25 EPS for the quarter, topping analysts’ consensus estimates of $1.62 by $0.63. The company had revenue of $94.59 billion during 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 firm’s revenue was up 7.0% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.31 EPS. Analysts anticipate that CVS Health will post 5.89 EPS for the current year.

CVS Health Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, May 1st. Stockholders of record on Tuesday, April 22nd were given a dividend of $0.665 per share. The ex-dividend date was Tuesday, April 22nd. This represents a $2.66 dividend on an annualized basis and a dividend yield of 4.43%. CVS Health’s dividend payout ratio (DPR) is 63.48%.

Insider Buying and Selling

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

Institutional Trading of CVS Health

A number of institutional investors have recently made changes to their positions in CVS. Costello Asset Management INC grew its stake in CVS Health by 281.3% during the 1st quarter. Costello Asset Management INC now owns 572 shares of the pharmacy operator’s stock valued at $39,000 after acquiring an additional 422 shares in the last quarter. Stone House Investment Management LLC purchased a new stake in shares of CVS Health in the first quarter valued at approximately $39,000. Stonebridge Financial Group LLC acquired a new stake in shares of CVS Health in the fourth quarter valued at approximately $28,000. GW&K Investment Management LLC increased its stake in shares of CVS Health by 39.4% in the 1st quarter. GW&K Investment Management LLC now owns 637 shares of the pharmacy operator’s stock worth $43,000 after acquiring an additional 180 shares during the last quarter. Finally, Hopwood Financial Services Inc. acquired a new position in shares of CVS Health during the 4th quarter valued at about $29,000. 80.66% of the stock is owned by institutional investors and hedge funds.

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.