Bank of America Cuts CVS Health (NYSE:CVS) Price Target to $95.00

CVS Health (NYSE:CVS) had its price target cut by Bank of America from $100.00 to $95.00 in a research report report published on Tuesday,Benzinga reports. They currently have a buy rating on the pharmacy operator’s stock.

A number of other equities analysts have also weighed in on CVS. Sanford C. Bernstein reiterated a “market perform” rating and set a $91.00 target price on shares of CVS Health in a research report on Tuesday, January 6th. Truist Financial set a $100.00 price objective on shares of CVS Health in a report on Wednesday, December 10th. TD Cowen lifted their price objective on shares of CVS Health from $100.00 to $105.00 and gave the company a “buy” rating in a research note on Wednesday, December 10th. Robert W. Baird increased their target price on CVS Health from $82.00 to $92.00 and gave the stock an “outperform” rating in a research report on Wednesday, December 10th. Finally, Weiss Ratings reiterated a “hold (c-)” rating on shares of CVS Health in a research report on Monday, December 29th. Nineteen analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $94.82.

CVS Health Trading Up 0.4%

NYSE CVS opened at $74.33 on Tuesday. The business has a fifty day simple moving average of $78.97 and a 200 day simple moving average of $75.01. The firm has a market capitalization of $94.35 billion, a P/E ratio of 195.61, a PEG ratio of 0.68 and a beta of 0.48. The company has a current ratio of 0.83, a quick ratio of 0.63 and a debt-to-equity ratio of 0.83. CVS Health has a 12 month low of $53.36 and a 12 month high of $85.15.

CVS Health (NYSE:CVS) last announced its earnings results on Wednesday, October 29th. The pharmacy operator reported $1.60 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.36 by $0.24. The firm had revenue of $102.87 billion during the quarter, compared to analyst estimates of $98.85 billion. CVS Health had a return on equity of 11.45% and a net margin of 0.12%.The business’s revenue was up 7.8% compared to the same quarter last year. During the same period last year, the firm posted $1.09 EPS. On average, analysts predict that CVS Health will post 5.89 EPS for the current fiscal year.

CVS Health Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, February 2nd. Investors of record on Thursday, January 22nd will be given a dividend of $0.665 per share. The ex-dividend date is Thursday, January 22nd. This represents a $2.66 annualized dividend and a dividend yield of 3.6%. CVS Health’s payout ratio is currently 700.00%.

Institutional Trading of CVS Health

Several institutional investors have recently bought and sold shares of CVS. Harbor Capital Advisors Inc. raised its position in CVS Health by 72.1% in the 3rd quarter. Harbor Capital Advisors Inc. now owns 339 shares of the pharmacy operator’s stock worth $26,000 after buying an additional 142 shares during the last quarter. Caitong International Asset Management Co. Ltd raised its holdings in shares of CVS Health by 407.2% during the third quarter. Caitong International Asset Management Co. Ltd now owns 350 shares of the pharmacy operator’s stock valued at $26,000 after purchasing an additional 281 shares during the last quarter. Avion Wealth lifted its position in CVS Health by 99.0% during the second quarter. Avion Wealth now owns 380 shares of the pharmacy operator’s stock valued at $26,000 after purchasing an additional 189 shares during the period. Corundum Trust Company INC purchased a new stake in CVS Health in the third quarter worth approximately $29,000. Finally, GoalVest Advisory LLC bought a new stake in CVS Health in the 4th quarter worth approximately $32,000. 80.66% of the stock is owned by hedge funds and other institutional investors.

CVS Health Company Profile

CVS Health Corporation is a diversified healthcare company that operates a large network of retail pharmacies, pharmacy benefit management services and health care solutions. Headquartered in Woonsocket, Rhode Island, the company traces its roots to the early 1960s and has grown into an integrated provider of prescription drugs, over‑the‑counter products, clinical services and health insurance offerings. Its operating model combines retail pharmacy locations and in‑store clinics with broader pharmacy and health plan capabilities.

Key business activities include CVS Pharmacy retail operations, MinuteClinic walk‑in medical clinics and HealthHUB locations that offer expanded clinical services.