CVS Health (NYSE:CVS) Given New $116.00 Price Target at Sanford C. Bernstein

CVS Health (NYSE:CVS) had its target price upped by Sanford C. Bernstein from $111.00 to $116.00 in a research report report published on Tuesday morning, The Fly reports.

Other analysts have also recently issued research reports about the stock. Mizuho boosted their price objective on shares of CVS Health from $110.00 to $115.00 and gave the stock a buy rating in a research note on Monday, December 20th. JPMorgan Chase & Co. boosted their price objective on shares of CVS Health from $107.00 to $115.00 and gave the stock an overweight rating in a research note on Friday, November 5th. Cowen upped their price target on shares of CVS Health from $103.00 to $114.00 and gave the company an outperform rating in a research report on Friday, December 10th. Truist Securities upped their price target on shares of CVS Health from $118.00 to $124.00 and gave the company a buy rating in a research report on Wednesday, January 5th. Finally, Credit Suisse Group upped their price target on shares of CVS Health from $107.00 to $120.00 and gave the company an outperform rating in a research report on Friday, December 10th. Four analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of Buy and an average target price of $112.04.

NYSE CVS opened at $105.76 on Tuesday. The firm’s fifty day moving average price is $97.63 and its two-hundred day moving average price is $89.11. The stock has a market cap of $139.61 billion, a PE ratio of 18.42, a PEG ratio of 1.65 and a beta of 0.86. CVS Health has a fifty-two week low of $68.02 and a fifty-two week high of $107.26. The company has a debt-to-equity ratio of 0.76, a quick ratio of 0.67 and a current ratio of 0.94.

CVS Health (NYSE:CVS) last posted its earnings results on Wednesday, November 3rd. The pharmacy operator reported $1.97 earnings per share for the quarter, topping analysts’ consensus estimates of $1.79 by $0.18. CVS Health had a net margin of 2.66% and a return on equity of 14.16%. The firm had revenue of $73.79 billion for the quarter, compared to analysts’ expectations of $70.52 billion. During the same quarter in the previous year, the firm posted $1.66 earnings per share. The company’s revenue was up 10.0% on a year-over-year basis. As a group, sell-side analysts predict that CVS Health will post 8.36 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, February 1st. Shareholders of record on Friday, January 21st will be given a $0.55 dividend. This represents a $2.20 dividend on an annualized basis and a yield of 2.08%. This is an increase from CVS Health’s previous quarterly dividend of $0.50. The ex-dividend date is Thursday, January 20th. CVS Health’s dividend payout ratio is presently 34.97%.

In related news, COO Jonathan C. Roberts sold 108,870 shares of the firm’s stock in a transaction that occurred on Wednesday, November 3rd. The shares were sold at an average price of $95.00, for a total value of $10,342,650.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Troyen A. Brennan sold 82,757 shares of the firm’s stock in a transaction that occurred on Tuesday, October 26th. The stock was sold at an average price of $88.00, for a total transaction of $7,282,616.00. The disclosure for this sale can be found here. Insiders have sold a total of 219,786 shares of company stock valued at $20,159,576 over the last three months. Insiders own 0.69% of the company’s stock.

Institutional investors have recently bought and sold shares of the company. Penserra Capital Management LLC purchased a new stake in shares of CVS Health during the 2nd quarter valued at $25,000. Bell Investment Advisors Inc purchased a new position in CVS Health in the 3rd quarter worth $26,000. Albion Financial Group UT purchased a new position in CVS Health in the 2nd quarter worth $40,000. Tower View Investment Management & Research LLC bought a new stake in CVS Health in the 3rd quarter worth $42,000. Finally, Strategic Blueprint LLC bought a new stake in CVS Health in the 2nd quarter worth $46,000. Hedge funds and other institutional investors own 75.84% of the company’s stock.

About CVS Health

CVS Health Corp. engages in the provision of health care services. It operates through the following segments: Pharmacy Services, Retail or Long Term Care, Health Care Benefits, and Corporate/Other. The Pharmacy Services segment offers pharmacy benefit management solutions. The Retail or Long Term Care segment includes selling of prescription drugs and assortment of general merchandise.

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