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

Cantor Fitzgerald reissued their overweight rating on shares of CVS Health (NYSE:CVS) in a research report released on Thursday, Benzinga reports. They currently have a $87.00 price target on the pharmacy operator’s stock.

CVS has been the subject of a number of other reports. HSBC started coverage on shares of CVS Health in a report on Friday, December 22nd. They issued a buy rating and a $94.00 target price for the company. StockNews.com downgraded CVS Health from a buy rating to a hold rating in a research note on Thursday, February 15th. Royal Bank of Canada decreased their target price on CVS Health from $86.00 to $84.00 and set an outperform rating on the stock in a research report on Thursday, February 8th. TD Cowen dropped their price target on CVS Health from $102.00 to $99.00 and set an outperform rating for the company in a research report on Monday, December 11th. Finally, Barclays initiated coverage on CVS Health in a research note on Wednesday, March 6th. They set an equal weight rating and a $78.00 price target for the company. Four analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to data from MarketBeat, CVS Health currently has an average rating of Moderate Buy and a consensus target price of $89.44.

CVS Health Stock Performance

Shares of CVS stock opened at $74.58 on Thursday. The company has a current ratio of 0.86, a quick ratio of 0.63 and a debt-to-equity ratio of 0.77. CVS Health has a 12-month low of $64.41 and a 12-month high of $83.25. The company has a market cap of $93.86 billion, a price-to-earnings ratio of 11.54, a price-to-earnings-growth ratio of 0.98 and a beta of 0.52. The stock has a 50 day simple moving average of $76.08 and a 200-day simple moving average of $73.76.

CVS Health (NYSE:CVS) last released its earnings results on Wednesday, February 7th. The pharmacy operator reported $2.12 EPS for the quarter, beating analysts’ consensus estimates of $2.01 by $0.11. CVS Health had a return on equity of 15.25% and a net margin of 2.33%. The company had revenue of $93.81 billion during the quarter, compared to the consensus estimate of $90.58 billion. During the same quarter last year, the company earned $1.99 earnings per share. CVS Health’s quarterly revenue was up 11.9% compared to the same quarter last year. On average, equities analysts forecast that CVS Health will post 8.33 EPS for the current year.

CVS Health Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, May 1st. Investors of record on Monday, April 22nd will be issued a $0.665 dividend. The ex-dividend date is Friday, April 19th. This represents a $2.66 dividend on an annualized basis and a yield of 3.57%. CVS Health’s payout ratio is 41.18%.

Insider Buying and Selling at CVS Health

In other news, EVP Prem S. Shah sold 29,473 shares of the company’s stock in a transaction on Friday, February 16th. The stock was sold at an average price of $76.95, for a total transaction of $2,267,947.35. Following the completion of the sale, the executive vice president now directly owns 39,765 shares in the company, valued at approximately $3,059,916.75. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 0.25% of the stock is owned by company insiders.

Institutional Investors Weigh In On CVS Health

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. First Hawaiian Bank grew its holdings in shares of CVS Health by 14.1% during the 1st quarter. First Hawaiian Bank now owns 77,089 shares of the pharmacy operator’s stock worth $6,149,000 after purchasing an additional 9,527 shares during the period. Butensky & Cohen Financial Security Inc. lifted its position in CVS Health by 1.3% during the first quarter. Butensky & Cohen Financial Security Inc. now owns 57,548 shares of the pharmacy operator’s stock valued at $4,590,000 after buying an additional 726 shares in the last quarter. GAMMA Investing LLC grew its stake in CVS Health by 22.9% during the first quarter. GAMMA Investing LLC now owns 8,404 shares of the pharmacy operator’s stock worth $670,000 after buying an additional 1,568 shares during the period. Somerset Trust Co acquired a new stake in shares of CVS Health in the first quarter worth $215,000. Finally, Davis Capital Management boosted its position in CVS Health by 6.5% during the 1st quarter. Davis Capital Management now owns 19,178 shares of the pharmacy operator’s stock worth $1,526,000 after purchasing an additional 1,177 shares during the period. 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.