CVS Health (NYSE:CVS) Given Overweight Rating at Cantor Fitzgerald

Cantor Fitzgerald reaffirmed their overweight rating on shares of CVS Health (NYSE:CVS) in a research report released on Wednesday morning, Benzinga reports. The firm currently has a $87.00 price objective on the pharmacy operator’s stock.

A number of other research firms have also recently commented on CVS. Piper Sandler boosted their target price on shares of CVS Health from $93.00 to $94.00 and gave the stock an overweight rating in a research note on Friday, March 15th. StockNews.com cut shares of CVS Health from a buy rating to a hold rating in a research note on Thursday, February 15th. Leerink Partnrs reaffirmed an outperform rating on shares of CVS Health in a research note on Monday, February 26th. Barclays initiated coverage on shares of CVS Health in a research note on Wednesday, March 6th. They set an equal weight rating and a $78.00 price objective for the company. Finally, SVB Leerink initiated coverage on shares of CVS Health in a research note on Monday, February 26th. They set an outperform rating and a $88.00 price objective for the company. Four investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. Based on data from MarketBeat.com, CVS Health currently has an average rating of Moderate Buy and a consensus target price of $89.44.

CVS Health Stock Down 1.6 %

CVS stock opened at $68.64 on Wednesday. The stock has a market capitalization of $86.52 billion, a P/E ratio of 10.63, a P/E/G ratio of 0.92 and a beta of 0.52. The firm has a 50-day simple moving average of $75.85 and a 200-day simple moving average of $73.76. The company has a quick ratio of 0.63, a current ratio of 0.86 and a debt-to-equity ratio of 0.77. CVS Health has a 52 week low of $64.41 and a 52 week high of $83.25.

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

CVS Health Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 1st. Stockholders of record on Monday, April 22nd will be issued a $0.665 dividend. The ex-dividend date of this dividend is Friday, April 19th. This represents a $2.66 annualized dividend and a dividend yield of 3.88%. CVS Health’s dividend payout ratio is currently 41.18%.

Insider Transactions at CVS Health

In other news, EVP Prem S. Shah sold 29,473 shares of the company’s stock in a transaction that occurred on Friday, February 16th. The shares were sold at an average price of $76.95, for a total value of $2,267,947.35. Following the transaction, the executive vice president now directly owns 39,765 shares in the company, valued at approximately $3,059,916.75. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 0.25% of the company’s stock.

Institutional Investors Weigh In On CVS Health

A number of hedge funds have recently added to or reduced their stakes in the business. First Financial Corp IN lifted its holdings in CVS Health by 33.7% during the 1st quarter. First Financial Corp IN now owns 1,622 shares of the pharmacy operator’s stock worth $129,000 after buying an additional 409 shares in the last quarter. Parkside Investments LLC lifted its holdings in CVS Health by 1.8% during the 1st quarter. Parkside Investments LLC now owns 133,905 shares of the pharmacy operator’s stock worth $10,680,000 after buying an additional 2,393 shares in the last quarter. Hoxton Planning & Management LLC lifted its holdings in CVS Health by 9.3% during the 1st quarter. Hoxton Planning & Management LLC now owns 3,991 shares of the pharmacy operator’s stock worth $318,000 after buying an additional 341 shares in the last quarter. Annex Advisory Services LLC acquired a new stake in shares of CVS Health in the 1st quarter valued at $300,000. Finally, CGN Advisors LLC raised its holdings in shares of CVS Health by 1.2% in the 1st quarter. CGN Advisors LLC now owns 28,450 shares of the pharmacy operator’s stock valued at $2,269,000 after purchasing an additional 328 shares in the last quarter. 80.66% of the stock is currently owned by institutional investors and hedge funds.

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.