CVS Health (NYSE:CVS) Stock Rating Reaffirmed by Cantor Fitzgerald

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

Several other research firms have also recently weighed in on CVS. Deutsche Bank Aktiengesellschaft cut their price objective on CVS Health from $64.00 to $63.00 and set a hold rating on the stock in a research report on Friday, August 9th. Royal Bank of Canada restated an outperform rating and set a $68.00 price target on shares of CVS Health in a research report on Wednesday, September 4th. Robert W. Baird assumed coverage on shares of CVS Health in a research report on Thursday, May 30th. They issued a neutral rating and a $61.00 price objective on the stock. Wells Fargo & Company increased their target price on shares of CVS Health from $60.00 to $61.00 and gave the company an equal weight rating in a research report on Monday, August 12th. Finally, Baird R W raised shares of CVS Health to a hold rating in a report on Thursday, May 30th. Eleven equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. Based on data from MarketBeat, CVS Health currently has a consensus rating of Moderate Buy and an average target price of $72.10.

CVS Health Stock Up 0.8 %

Shares of NYSE:CVS opened at $57.98 on Tuesday. The stock has a market cap of $72.94 billion, a price-to-earnings ratio of 10.19, a PEG ratio of 0.79 and a beta of 0.53. The business’s 50 day moving average is $58.28 and its 200 day moving average is $63.17. CVS Health has a 12-month low of $52.77 and a 12-month high of $83.25. The company has a quick ratio of 0.66, a current ratio of 0.86 and a debt-to-equity ratio of 0.83.

CVS Health (NYSE:CVS) last released its quarterly earnings results 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. CVS Health had a net margin of 1.98% and a return on equity of 12.72%. The company had revenue of $91.23 billion for the quarter, compared to analyst estimates of $91.41 billion. During the same period last year, the firm earned $2.21 earnings per share. The firm’s revenue was up 2.6% on a year-over-year basis. On average, sell-side analysts forecast that CVS Health will post 6.51 earnings per share for the current fiscal year.

CVS Health Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, August 1st. Stockholders of record on Monday, July 22nd were issued a $0.665 dividend. The ex-dividend date was Monday, July 22nd. This represents a $2.66 annualized dividend and a dividend yield of 4.59%. CVS Health’s payout ratio is currently 46.75%.

Institutional Trading of CVS Health

Institutional investors and hedge funds have recently modified their holdings of the business. Wedmont Private Capital raised its stake in CVS Health by 0.8% in the first quarter. Wedmont Private Capital now owns 19,225 shares of the pharmacy operator’s stock valued at $1,410,000 after purchasing an additional 146 shares in the last quarter. Moody National Bank Trust Division lifted its holdings in shares of CVS Health by 0.7% during the 1st quarter. Moody National Bank Trust Division now owns 22,268 shares of the pharmacy operator’s stock worth $1,776,000 after acquiring an additional 150 shares during the last quarter. Landmark Financial Advisors LLC grew its position in CVS Health by 3.8% in the fourth quarter. Landmark Financial Advisors LLC now owns 4,166 shares of the pharmacy operator’s stock worth $329,000 after acquiring an additional 153 shares in the last quarter. Garland Capital Management Inc. increased its stake in CVS Health by 0.3% in the second quarter. Garland Capital Management Inc. now owns 60,810 shares of the pharmacy operator’s stock valued at $3,591,000 after acquiring an additional 160 shares during the last quarter. Finally, Sepio Capital LP raised its position in CVS Health by 1.7% during the fourth quarter. Sepio Capital LP now owns 9,907 shares of the pharmacy operator’s stock valued at $782,000 after purchasing an additional 163 shares in the last quarter. Hedge funds and other institutional investors own 80.66% of the company’s stock.

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.