CVS Health Co. (CVS) To Go Ex-Dividend on July 22nd

CVS Health Co. (NYSE:CVS) announced a quarterly dividend on Monday, July 8th, RTT News reports. Shareholders of record on Monday, July 22nd will be paid a dividend of 0.665 per share by the pharmacy operator on Thursday, August 1st. This represents a $2.66 annualized dividend and a yield of 4.62%. The ex-dividend date is Monday, July 22nd.

CVS Health has raised its dividend payment by an average of 6.6% per year over the last three years. CVS Health has a dividend payout ratio of 34.2% meaning its dividend is sufficiently covered by earnings. Equities analysts expect CVS Health to earn $7.76 per share next year, which means the company should continue to be able to cover its $2.66 annual dividend with an expected future payout ratio of 34.3%.

CVS Health Price Performance

Shares of NYSE CVS opened at $57.63 on Wednesday. The company has a current ratio of 0.81, a quick ratio of 0.61 and a debt-to-equity ratio of 0.78. The company has a market capitalization of $72.34 billion, a price-to-earnings ratio of 10.13, a price-to-earnings-growth ratio of 0.54 and a beta of 0.52. CVS Health has a twelve month low of $52.77 and a twelve month high of $83.25. The business has a 50 day simple moving average of $58.06 and a 200-day simple moving average of $69.19.

CVS Health (NYSE:CVS) last posted its quarterly earnings results on Wednesday, May 1st. The pharmacy operator reported $1.31 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.69 by ($0.38). CVS Health had a return on equity of 13.53% and a net margin of 2.03%. The business had revenue of $88.44 billion during the quarter, compared to the consensus estimate of $89.33 billion. During the same quarter in the previous year, the business posted $2.20 earnings per share. The company’s quarterly revenue was up 3.7% compared to the same quarter last year. As a group, equities research analysts expect that CVS Health will post 7.02 earnings per share for the current year.

Analyst Upgrades and Downgrades

CVS has been the topic of a number of recent research reports. TD Cowen cut CVS Health from a “buy” rating to a “hold” rating and cut their target price for the company from $99.00 to $59.00 in a research note on Tuesday, May 7th. Wells Fargo & Company dropped their price target on shares of CVS Health from $76.00 to $60.00 and set an “equal weight” rating on the stock in a research note on Tuesday, May 7th. UBS Group downgraded CVS Health from a “buy” rating to a “neutral” rating and reduced their price objective for the stock from $85.00 to $60.00 in a research report on Thursday, May 2nd. Argus cut their target price on CVS Health from $100.00 to $80.00 and set a “buy” rating on the stock in a research note on Wednesday, May 8th. Finally, The Goldman Sachs Group decreased their price target on CVS Health from $85.00 to $74.00 and set a “buy” rating for the company in a research note on Thursday, May 2nd. Eleven equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $75.05.

Insider Buying and Selling

In other news, Director Edward J. Ludwig acquired 1,000 shares of CVS Health stock in a transaction on Thursday, May 2nd. The stock was bought at an average cost of $53.88 per share, with a total value of $53,880.00. Following the completion of the purchase, the director now owns 21,630 shares of the company’s stock, valued at $1,165,424.40. The purchase was disclosed in a filing with the SEC, which is accessible through the SEC website. 0.24% of the stock is currently owned by company insiders.

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.