Cantor Fitzgerald Reiterates Neutral Rating for CVS Health (NYSE:CVS)

Cantor Fitzgerald reissued their neutral rating on shares of CVS Health (NYSE:CVS) in a report released on Tuesday, Benzinga reports. The brokerage currently has a $62.00 price target on the pharmacy operator’s stock.

A number of other research firms also recently commented on CVS. Wells Fargo & Company lifted their price target on CVS Health from $60.00 to $61.00 and gave the stock an equal weight rating in a research note on Monday, August 12th. Evercore ISI decreased their target price on CVS Health from $65.00 to $62.00 and set an outperform rating for the company in a research report on Thursday, August 8th. Royal Bank of Canada reissued an outperform rating and set a $68.00 price target on shares of CVS Health in a research report on Wednesday, September 4th. Barclays decreased their price objective on shares of CVS Health from $65.00 to $63.00 and set an equal weight rating for the company in a report on Thursday, August 8th. Finally, Deutsche Bank Aktiengesellschaft dropped their target price on shares of CVS Health from $64.00 to $63.00 and set a hold rating on the stock in a report on Friday, August 9th. Ten investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of Moderate Buy and a consensus price target of $73.40.

CVS Health Trading Up 2.7 %

NYSE:CVS opened at $64.61 on Tuesday. CVS Health has a one year low of $52.77 and a one year high of $83.25. The business’s 50-day simple moving average is $58.60 and its 200 day simple moving average is $61.58. The company has a debt-to-equity ratio of 0.83, a quick ratio of 0.66 and a current ratio of 0.86. The stock has a market cap of $81.11 billion, a price-to-earnings ratio of 11.36, a price-to-earnings-growth ratio of 0.81 and a beta of 0.54.

CVS Health (NYSE:CVS) last announced its earnings results on Wednesday, August 7th. The pharmacy operator reported $1.83 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.73 by $0.10. The company had revenue of $91.23 billion for the quarter, compared to analyst estimates of $91.41 billion. CVS Health had a return on equity of 12.72% and a net margin of 1.98%. CVS Health’s quarterly revenue was up 2.6% on a year-over-year basis. During the same period in the prior year, the company posted $2.21 EPS. As a group, sell-side analysts predict that CVS Health will post 6.51 earnings per share for the current fiscal year.

CVS Health Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 1st. Stockholders of record on Monday, October 21st will be given a dividend of $0.665 per share. The ex-dividend date is Monday, October 21st. This represents a $2.66 dividend on an annualized basis and a dividend yield of 4.12%. CVS Health’s dividend payout ratio (DPR) is presently 46.75%.

Hedge Funds Weigh In On CVS Health

A number of hedge funds have recently modified their holdings of the stock. Deerfield Management Company L.P. Series C purchased a new position in CVS Health in the 2nd quarter worth about $57,584,000. Susquehanna Fundamental Investments LLC increased its position in shares of CVS Health by 27.9% in the second quarter. Susquehanna Fundamental Investments LLC now owns 665,451 shares of the pharmacy operator’s stock worth $39,302,000 after acquiring an additional 145,158 shares in the last quarter. Steph & Co. boosted its stake in CVS Health by 192.0% in the 1st quarter. Steph & Co. now owns 438 shares of the pharmacy operator’s stock worth $35,000 after purchasing an additional 288 shares during the period. Douglas Lane & Associates LLC grew its position in CVS Health by 1.6% during the 1st quarter. Douglas Lane & Associates LLC now owns 1,084,256 shares of the pharmacy operator’s stock worth $86,480,000 after purchasing an additional 16,840 shares in the last quarter. Finally, OLD Point Trust & Financial Services N A acquired a new position in CVS Health during the fourth quarter valued at $151,000. 80.66% of the stock is currently 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.