CVS Health Co. (NYSE:CVS) Receives $71.94 Consensus Price Target from Analysts

Shares of CVS Health Co. (NYSE:CVS) have been given a consensus rating of “Moderate Buy” by the twenty ratings firms that are covering the firm, Marketbeat Ratings reports. Three investment analysts have rated the stock with a hold recommendation, sixteen have issued a buy recommendation and one has given a strong buy recommendation to the company. The average 12-month target price among analysts that have issued a report on the stock in the last year is $71.47.

Several research analysts have recently weighed in on CVS shares. Morgan Stanley reaffirmed an “overweight” rating on shares of CVS Health in a report on Tuesday, April 15th. Evercore ISI raised their price target on CVS Health from $60.00 to $65.00 and gave the company an “outperform” rating in a report on Monday, January 27th. StockNews.com raised CVS Health from a “sell” rating to a “hold” rating in a report on Thursday, February 13th. Truist Financial raised their target price on shares of CVS Health from $76.00 to $82.00 and gave the company a “buy” rating in a research note on Friday, April 11th. Finally, Piper Sandler increased their price target on shares of CVS Health from $72.00 to $74.00 and gave the stock an “overweight” rating in a report on Friday, March 21st.

Insider Buying and Selling

In other CVS Health news, SVP James David Clark sold 7,513 shares of CVS Health stock in a transaction dated Wednesday, March 5th. The shares were sold at an average price of $66.35, for a total transaction of $498,487.55. Following the transaction, the senior vice president now directly owns 8,394 shares of the company’s stock, valued at $556,941.90. The trade was a 47.23 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Michael F. Mahoney bought 30,000 shares of CVS Health stock in a transaction on Tuesday, February 18th. The stock was acquired at an average price of $66.70 per share, for a total transaction of $2,001,000.00. Following the transaction, the director now directly owns 39,356 shares of the company’s stock, valued at approximately $2,625,045.20. This trade represents a 320.65 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders own 1.22% of the company’s stock.

Institutional Investors Weigh In On CVS Health

A number of hedge funds and other institutional investors have recently modified their holdings of CVS. Ridgewood Investments LLC lifted its position in shares of CVS Health by 255.7% during the 4th quarter. Ridgewood Investments LLC now owns 626 shares of the pharmacy operator’s stock worth $28,000 after buying an additional 450 shares during the last quarter. Stonebridge Financial Group LLC purchased a new stake in CVS Health in the fourth quarter valued at $28,000. Hopwood Financial Services Inc. acquired a new position in CVS Health in the fourth quarter valued at $29,000. McIlrath & Eck LLC grew its holdings in shares of CVS Health by 32.6% during the fourth quarter. McIlrath & Eck LLC now owns 707 shares of the pharmacy operator’s stock worth $32,000 after purchasing an additional 174 shares during the last quarter. Finally, Sierra Ocean LLC increased its position in shares of CVS Health by 584.8% during the first quarter. Sierra Ocean LLC now owns 719 shares of the pharmacy operator’s stock worth $49,000 after purchasing an additional 614 shares in the last quarter. 80.66% of the stock is currently owned by institutional investors and hedge funds.

CVS Health Trading Up 4.1 %

Shares of CVS Health stock opened at $69.42 on Tuesday. The firm has a market cap of $87.52 billion, a PE ratio of 18.97, a P/E/G ratio of 0.98 and a beta of 0.57. CVS Health has a 1 year low of $43.56 and a 1 year high of $72.51. 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 stock has a fifty day moving average price of $66.64 and a 200-day moving average price of $58.87.

CVS Health (NYSE:CVS) last announced its quarterly earnings data on Thursday, May 1st. The pharmacy operator reported $2.25 earnings per share for the quarter, topping the consensus estimate of $1.62 by $0.63. CVS Health had a return on equity of 9.11% and a net margin of 1.24%. The company had revenue of $94.59 billion during the quarter, compared to analyst estimates of $93.07 billion. During the same quarter last year, the firm posted $1.31 EPS. The firm’s revenue for the quarter was up 7.0% on a year-over-year basis. Equities research analysts anticipate that CVS Health will post 5.89 EPS for the current year.

CVS Health Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, May 1st. Stockholders of record on Tuesday, April 22nd were given a dividend of $0.665 per share. The ex-dividend date of this dividend was Tuesday, April 22nd. This represents a $2.66 dividend on an annualized basis and a dividend yield of 3.83%. CVS Health’s dividend payout ratio (DPR) is 72.68%.

CVS Health Company Profile

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.