CVS Health (NYSE:CVS) Stock Price Up 1.3% – What’s Next?

CVS Health Co. (NYSE:CVS)’s stock price rose 1.3% during mid-day trading on Wednesday . The stock traded as high as $58.46 and last traded at $58.06. Approximately 3,437,971 shares were traded during mid-day trading, a decline of 74% from the average daily volume of 13,171,708 shares. The stock had previously closed at $57.33.

Wall Street Analysts Forecast Growth

CVS has been the subject of several research analyst reports. Piper Sandler cut their price objective on CVS Health from $72.00 to $64.00 and set an “overweight” rating for the company in a research report on Monday, November 25th. StockNews.com cut CVS Health from a “hold” rating to a “sell” rating in a research report on Thursday, November 14th. Evercore ISI raised their price target on CVS Health from $60.00 to $65.00 and gave the company an “outperform” rating in a research report on Monday. TD Cowen lifted their price objective on CVS Health from $73.00 to $80.00 and gave the stock a “buy” rating in a research report on Monday, November 25th. Finally, Cantor Fitzgerald reiterated a “neutral” rating and set a $62.00 price objective on shares of CVS Health in a research report on Tuesday, October 1st. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and thirteen have given a buy rating to the stock. Based on data from MarketBeat, CVS Health presently has an average rating of “Moderate Buy” and a consensus price target of $68.12.

CVS Health Trading Down 0.8 %

The firm has a market capitalization of $71.60 billion, a PE ratio of 14.46, a P/E/G ratio of 0.80 and a beta of 0.59. The company has a debt-to-equity ratio of 0.80, a quick ratio of 0.59 and a current ratio of 0.80. The firm has a fifty day moving average of $51.27 and a 200 day moving average of $56.18.

CVS Health (NYSE:CVS) last posted its quarterly earnings data on Wednesday, November 6th. The pharmacy operator reported $1.09 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.08 by $0.01. CVS Health had a return on equity of 10.72% and a net margin of 1.36%. The company had revenue of $95.43 billion for the quarter, compared to the consensus estimate of $92.72 billion. During the same period in the previous year, the business earned $2.21 EPS. CVS Health’s revenue for the quarter was up 6.3% compared to the same quarter last year. Equities research analysts expect that CVS Health Co. will post 5.22 EPS for the current year.

CVS Health Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, February 3rd. Shareholders of record on Thursday, January 23rd will be issued a dividend of $0.665 per share. The ex-dividend date of this dividend is Thursday, January 23rd. This represents a $2.66 annualized dividend and a yield of 4.68%. CVS Health’s dividend payout ratio is presently 67.51%.

Institutional Investors Weigh In On CVS Health

A number of institutional investors have recently made changes to their positions in the company. Kentucky Trust Co acquired a new position in CVS Health during the 4th quarter valued at approximately $696,000. Polaris Capital Management LLC boosted its position in CVS Health by 7.6% during the 4th quarter. Polaris Capital Management LLC now owns 489,500 shares of the pharmacy operator’s stock worth $21,974,000 after acquiring an additional 34,700 shares during the period. Stonebridge Financial Group LLC acquired a new position in CVS Health during the 4th quarter worth $28,000. Bristlecone Advisors LLC boosted its position in CVS Health by 4.3% during the 4th quarter. Bristlecone Advisors LLC now owns 10,788 shares of the pharmacy operator’s stock worth $484,000 after acquiring an additional 448 shares during the period. Finally, Newbridge Financial Services Group Inc. acquired a new position in CVS Health during the 4th quarter worth $111,000. 80.66% of the stock is currently owned by institutional investors.

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.