Evercore ISI Increases CVS Health (NYSE:CVS) Price Target to $75.00

CVS Health (NYSE:CVS) had its price target hoisted by Evercore ISI from $62.00 to $75.00 in a research report released on Tuesday morning, Benzinga reports. They currently have an outperform rating on the pharmacy operator’s stock.

Several other research analysts also recently commented on the company. Cantor Fitzgerald reissued a neutral rating and issued a $62.00 target price on shares of CVS Health in a report on Tuesday, October 1st. TD Cowen upgraded shares of CVS Health from a hold rating to a buy rating and upped their target price for the company from $59.00 to $85.00 in a research report on Friday, October 4th. Barclays decreased their price target 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. Deutsche Bank Aktiengesellschaft decreased their price target on shares of CVS Health from $64.00 to $63.00 and set a hold rating for the company in a report on Friday, August 9th. Finally, Royal Bank of Canada reaffirmed an outperform rating and issued a $68.00 target price on shares of CVS Health in a research note on Wednesday, September 4th. Nine research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to data from MarketBeat, CVS Health has a consensus rating of Moderate Buy and an average price target of $75.26.

CVS Health Stock Down 0.3 %

NYSE CVS opened at $66.63 on Tuesday. The company has a current ratio of 0.86, a quick ratio of 0.66 and a debt-to-equity ratio of 0.83. The stock’s 50 day moving average is $59.12 and its two-hundred day moving average is $61.15. The company has a market capitalization of $83.65 billion, a price-to-earnings ratio of 11.71, a PEG ratio of 0.93 and a beta of 0.54. CVS Health has a 1-year low of $52.77 and a 1-year high of $83.25.

CVS Health (NYSE:CVS) last released its quarterly earnings data on Wednesday, August 7th. The pharmacy operator reported $1.83 earnings per share 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 the consensus estimate of $91.41 billion. CVS Health had a return on equity of 12.72% and a net margin of 1.98%. The company’s quarterly revenue was up 2.6% on a year-over-year basis. During the same period in the previous year, the business earned $2.21 earnings per share. Equities analysts forecast that CVS Health will post 6.51 earnings per share for the current fiscal year.

CVS Health Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, November 1st. Shareholders of record on Monday, October 21st will be paid 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 3.99%. CVS Health’s payout ratio is presently 46.75%.

Institutional Trading of CVS Health

Institutional investors have recently modified their holdings of the business. Ables Iannone Moore & Associates Inc. acquired a new position in CVS Health in the fourth quarter valued at $32,000. Creekmur Asset Management LLC acquired a new position in CVS Health in the fourth quarter valued at $34,000. Steph & Co. lifted its holdings in CVS Health by 192.0% in the first quarter. Steph & Co. now owns 438 shares of the pharmacy operator’s stock valued at $35,000 after buying an additional 288 shares during the period. Kapitalo Investimentos Ltda acquired a new position in CVS Health in the fourth quarter valued at $36,000. Finally, Scarborough Advisors LLC acquired a new position in CVS Health in the fourth quarter valued at $37,000. Institutional investors own 80.66% of the company’s stock.

About CVS Health

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.