Truist Financial Increases CVS Health (NYSE:CVS) Price Target to $82.00

CVS Health (NYSE:CVS) had its price target increased by Truist Financial from $76.00 to $82.00 in a research report report published on Friday,Benzinga reports. Truist Financial currently has a buy rating on the pharmacy operator’s stock.

Several other equities research analysts have also recently issued reports on CVS. Piper Sandler boosted their price target on CVS Health from $72.00 to $74.00 and gave the company an “overweight” rating in a research note on Friday, March 21st. Leerink Partnrs upgraded CVS Health from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, February 12th. Wolfe Research increased their price objective on shares of CVS Health from 67.00 to 70.00 and gave the stock an “overweight” rating in a research note on Tuesday, February 11th. Mizuho lifted their price target on CVS Health from $70.00 to $76.00 and gave the company an “outperform” rating in a research note on Wednesday, April 9th. Finally, JPMorgan Chase & Co. raised their price objective on CVS Health from $80.00 to $81.00 and gave the company an “overweight” rating in a research note on Tuesday, February 18th. Four investment analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, CVS Health has an average rating of “Moderate Buy” and an average price target of $71.28.

CVS Health Stock Performance

Shares of NYSE CVS opened at $69.56 on Friday. The company has a debt-to-equity ratio of 0.80, a current ratio of 0.81 and a quick ratio of 0.60. The firm has a market cap of $87.70 billion, a price-to-earnings ratio of 19.01, a P/E/G ratio of 0.98 and a beta of 0.57. The stock’s fifty day moving average price is $65.10 and its two-hundred day moving average price is $58.51. CVS Health has a one year low of $43.56 and a one year high of $71.66.

CVS Health (NYSE:CVS) last released its quarterly earnings results on Wednesday, February 12th. The pharmacy operator reported $1.19 EPS for the quarter, beating the consensus estimate of $0.89 by $0.30. CVS Health had a net margin of 1.24% and a return on equity of 9.11%. On average, equities analysts forecast that CVS Health will post 5.89 EPS for the current year.

CVS Health Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, May 1st. Investors of record on Tuesday, April 22nd will be paid a $0.665 dividend. The ex-dividend date is Tuesday, April 22nd. This represents a $2.66 annualized dividend and a dividend yield of 3.82%. CVS Health’s dividend payout ratio is 72.68%.

Insider Activity at CVS Health

In related news, Director Michael F. Mahoney bought 30,000 shares of CVS Health stock in a transaction that occurred on Tuesday, February 18th. The shares were acquired at an average cost of $66.70 per share, for a total transaction of $2,001,000.00. Following the completion of the acquisition, the director now directly owns 39,356 shares of the company’s stock, valued at approximately $2,625,045.20. The trade was a 320.65 % increase in their position. The purchase was disclosed in a document filed with the SEC, which is available at the SEC website. Also, SVP James David Clark sold 7,513 shares of the firm’s stock in a transaction that occurred on Wednesday, March 5th. The stock was sold at an average price of $66.35, for a total transaction of $498,487.55. Following the transaction, the senior vice president now owns 8,394 shares of the company’s stock, valued at approximately $556,941.90. The trade was a 47.23 % decrease in their position. The disclosure for this sale can be found here. 0.24% of the stock is currently owned by company insiders.

Institutional Trading of CVS Health

A number of institutional investors have recently bought and sold shares of CVS. Persium Advisors LLC boosted its position in shares of CVS Health by 14.4% during the 1st quarter. Persium Advisors LLC now owns 8,225 shares of the pharmacy operator’s stock valued at $557,000 after purchasing an additional 1,035 shares in the last quarter. Gateway Investment Advisers LLC boosted its holdings in shares of CVS Health by 3.1% during the 1st quarter. Gateway Investment Advisers LLC now owns 312,463 shares of the pharmacy operator’s stock worth $21,169,000 after buying an additional 9,373 shares in the last quarter. Alliance Wealth Advisors LLC acquired a new stake in shares of CVS Health during the 1st quarter worth approximately $266,000. Butensky & Cohen Financial Security Inc. increased its stake in shares of CVS Health by 8.0% in the 1st quarter. Butensky & Cohen Financial Security Inc. now owns 51,720 shares of the pharmacy operator’s stock valued at $3,504,000 after acquiring an additional 3,810 shares in the last quarter. Finally, Pines Wealth Management LLC acquired a new position in shares of CVS Health during the 1st quarter valued at $340,000. Institutional investors own 80.66% of the company’s stock.

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.