CVS Health (NYSE:CVS) Shares Up 0.6% – What’s Next?

CVS Health Co. (NYSE:CVS) shares shot up 0.6% during trading on Tuesday . The stock traded as high as $53.07 and last traded at $52.94. 2,136,588 shares traded hands during trading, a decline of 84% from the average session volume of 13,610,521 shares. The stock had previously closed at $52.62.

Wall Street Analyst Weigh In

A number of research analysts recently commented on the stock. Mizuho lowered their price target on shares of CVS Health from $73.00 to $66.00 and set an “outperform” rating for the company in a report on Thursday, October 24th. Deutsche Bank Aktiengesellschaft raised shares of CVS Health from a “hold” rating to a “buy” rating and set a $66.00 price target for the company in a report on Tuesday, December 3rd. Evercore ISI increased their price target on shares of CVS Health from $62.00 to $75.00 and gave the company an “outperform” rating in a report on Tuesday, October 8th. UBS Group increased their price target on shares of CVS Health from $60.00 to $62.00 and gave the company a “neutral” rating in a report on Thursday, November 7th. Finally, Cantor Fitzgerald reaffirmed a “neutral” rating and issued a $62.00 price target on shares of CVS Health in a report on Tuesday, October 1st. One analyst has rated the stock with a sell rating, six have issued a hold rating and thirteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $68.71.

CVS Health Trading Up 1.7 %

The firm has a market capitalization of $67.79 billion, a PE ratio of 13.67, a price-to-earnings-growth ratio of 0.80 and a beta of 0.59. The stock’s 50-day moving average price is $51.23 and its 200 day moving average price is $56.24. The company has a debt-to-equity ratio of 0.80, a current ratio of 0.80 and a quick ratio of 0.59.

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

CVS Health Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, February 3rd. Stockholders of record on Thursday, January 23rd will be paid a dividend of $0.665 per share. The ex-dividend date of this dividend is Thursday, January 23rd. This represents a $2.66 dividend on an annualized basis and a dividend yield of 4.94%. CVS Health’s dividend payout ratio is presently 67.51%.

Hedge Funds Weigh In On CVS Health

Hedge funds and other institutional investors have recently modified their holdings of the business. MidAtlantic Capital Management Inc. bought a new position in shares of CVS Health during the third quarter valued at approximately $25,000. Ridgewood Investments LLC boosted its stake in CVS Health by 255.7% in the fourth quarter. Ridgewood Investments LLC now owns 626 shares of the pharmacy operator’s stock valued at $28,000 after acquiring an additional 450 shares in the last quarter. Livelsberger Financial Advisory acquired a new stake in CVS Health in the third quarter valued at approximately $31,000. Legacy Investment Solutions LLC acquired a new stake in CVS Health in the third quarter valued at approximately $31,000. Finally, Reston Wealth Management LLC acquired a new stake in CVS Health in the third quarter valued at approximately $32,000. 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.