CVS Health (NYSE:CVS) Price Target Raised to $71.00 at Robert W. Baird

CVS Health (NYSE:CVS) had its target price hoisted by Robert W. Baird from $51.00 to $71.00 in a research note published on Tuesday morning,Benzinga reports. The firm currently has a neutral rating on the pharmacy operator’s stock.

Several other analysts have also issued reports on CVS. Edward Jones raised shares of CVS Health from a “hold” rating to a “buy” rating in a research report on Thursday, January 30th. Evercore ISI boosted their price target on shares of CVS Health from $60.00 to $65.00 and gave the company an “outperform” rating in a research report on Monday, January 27th. JPMorgan Chase & Co. increased their price objective on CVS Health from $80.00 to $81.00 and gave the stock an “overweight” rating in a research report on Tuesday, February 18th. Leerink Partnrs upgraded CVS Health from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, February 12th. Finally, Wells Fargo & Company raised their price target on CVS Health from $68.00 to $73.00 and gave the company an “overweight” rating in a report on Thursday, February 13th. Four research analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, CVS Health has a consensus rating of “Moderate Buy” and an average price target of $71.83.

CVS Health Trading Down 2.0 %

NYSE:CVS opened at $67.19 on Tuesday. The company has a debt-to-equity ratio of 0.80, a current ratio of 0.81 and a quick ratio of 0.60. CVS Health has a one year low of $43.56 and a one year high of $71.45. The company has a market cap of $84.71 billion, a PE ratio of 18.36, a PEG ratio of 0.98 and a beta of 0.57. The firm has a 50-day moving average of $66.22 and a 200-day moving average of $58.76.

CVS Health (NYSE:CVS) last issued its quarterly earnings data on Wednesday, February 12th. The pharmacy operator reported $1.19 EPS for the quarter, topping the consensus estimate of $0.89 by $0.30. CVS Health had a return on equity of 9.11% and a net margin of 1.24%. As a group, equities research analysts expect that CVS Health will post 5.89 EPS for the current fiscal year.

CVS Health Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, May 1st. Investors of record on Tuesday, April 22nd will be given a dividend of $0.665 per share. The ex-dividend date of this dividend is Tuesday, April 22nd. This represents a $2.66 annualized dividend and a yield of 3.96%. CVS Health’s payout ratio is 72.68%.

Insider Buying and Selling at CVS Health

In other news, Director Michael F. Mahoney acquired 30,000 shares of the stock in a transaction dated Tuesday, February 18th. The stock was purchased at an average cost of $66.70 per share, with a total value of $2,001,000.00. Following the completion of the purchase, the director now owns 39,356 shares in the company, 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 Securities & Exchange Commission, which is available at this hyperlink. Also, SVP James David Clark sold 7,513 shares of the firm’s stock in a transaction dated Wednesday, March 5th. The stock was sold at an average price of $66.35, for a total value of $498,487.55. Following the completion of the sale, the senior vice president now directly owns 8,394 shares in the company, valued at $556,941.90. The trade was a 47.23 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.24% of the company’s stock.

Institutional Investors Weigh In On CVS Health

Institutional investors and hedge funds have recently bought and sold shares of the business. Ridgewood Investments LLC lifted 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 worth $28,000 after acquiring an additional 450 shares during the period. Stonebridge Financial Group LLC bought a new stake in shares of CVS Health during the 4th quarter valued at about $28,000. Hopwood Financial Services Inc. purchased a new position in shares of CVS Health during the fourth quarter valued at about $29,000. McIlrath & Eck LLC raised its stake in CVS Health by 32.6% in the fourth quarter. McIlrath & Eck LLC now owns 707 shares of the pharmacy operator’s stock worth $32,000 after buying an additional 174 shares in the last quarter. Finally, Financial Perspectives Inc boosted its position in CVS Health by 137.5% during the 4th quarter. Financial Perspectives Inc now owns 805 shares of the pharmacy operator’s stock valued at $36,000 after acquiring an additional 466 shares in the last quarter. Hedge funds and other 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.