CVS Health (NYSE:CVS) Rating Increased to Outperform at Robert W. Baird

Robert W. Baird upgraded shares of CVS Health (NYSE:CVS) from a neutral rating to an outperform rating in a research note published on Thursday, MarketBeat reports. Robert W. Baird currently has $82.00 price objective on the pharmacy operator’s stock, up from their prior price objective of $71.00.

Other equities analysts also recently issued research reports about the stock. Royal Bank Of Canada increased their price objective on shares of CVS Health from $74.00 to $81.00 and gave the company an “outperform” rating in a research note on Monday, May 5th. Wall Street Zen raised shares of CVS Health from a “hold” rating to a “buy” rating in a research note on Friday, May 9th. Bernstein Bank reduced their target price on shares of CVS Health from $78.00 to $72.00 and set a “market perform” rating on the stock in a report on Wednesday, July 16th. Jefferies Financial Group boosted their target price on shares of CVS Health from $74.00 to $80.00 and gave the stock a “buy” rating in a report on Monday, June 30th. Finally, Morgan Stanley boosted their target price on shares of CVS Health from $80.00 to $82.00 and gave the stock an “overweight” rating in a report on Friday, August 1st. Two investment analysts have rated the stock with a hold rating, nineteen have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, CVS Health currently has an average rating of “Moderate Buy” and an average price target of $75.68.

CVS Health Stock Performance

Shares of NYSE:CVS opened at $66.77 on Thursday. The company’s 50 day simple moving average is $64.86 and its 200 day simple moving average is $64.54. The stock has a market capitalization of $84.68 billion, a price-to-earnings ratio of 18.65, a price-to-earnings-growth ratio of 0.73 and a beta of 0.58. The company has a debt-to-equity ratio of 0.74, a current ratio of 0.80 and a quick ratio of 0.62. CVS Health has a 1 year low of $43.56 and a 1 year high of $72.51.

CVS Health (NYSE:CVS) last issued its quarterly earnings data on Thursday, July 31st. The pharmacy operator reported $1.81 EPS for the quarter, beating the consensus estimate of $1.46 by $0.35. The business had revenue of $98.92 billion during the quarter, compared to the consensus estimate of $94.87 billion. CVS Health had a net margin of 1.17% and a return on equity of 10.51%. The firm’s revenue was up 8.4% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.83 EPS. As a group, research analysts predict that CVS Health will post 5.89 EPS for the current fiscal year.

CVS Health Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, August 1st. Shareholders of record on Tuesday, July 22nd were issued a dividend of $0.665 per share. This represents a $2.66 dividend on an annualized basis and a dividend yield of 4.0%. The ex-dividend date was Tuesday, July 22nd. CVS Health’s dividend payout ratio is presently 74.30%.

Insider Activity

In other CVS Health news, Director Guy P. Sansone purchased 1,570 shares of the business’s stock in a transaction on Thursday, June 5th. The shares were purchased at an average cost of $63.70 per share, for a total transaction of $100,009.00. Following the acquisition, the director owned 12,007 shares of the company’s stock, valued at approximately $764,845.90. This represents a 15.04% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 1.22% of the company’s stock.

Institutional Investors Weigh In On CVS Health

Several hedge funds and other institutional investors have recently modified their holdings of the company. CTC Alternative Strategies Ltd. bought a new stake in shares of CVS Health during the second quarter valued at approximately $331,000. Jupiter Wealth Management LLC bought a new stake in shares of CVS Health in the 2nd quarter worth approximately $330,000. Financial Advisors Network Inc. raised its holdings in shares of CVS Health by 12.9% in the 2nd quarter. Financial Advisors Network Inc. now owns 3,699 shares of the pharmacy operator’s stock worth $255,000 after purchasing an additional 423 shares during the period. Raymond James Financial Inc. raised its holdings in shares of CVS Health by 4.4% in the 2nd quarter. Raymond James Financial Inc. now owns 3,191,584 shares of the pharmacy operator’s stock worth $220,155,000 after purchasing an additional 133,875 shares during the period. Finally, Canada Pension Plan Investment Board boosted its holdings in CVS Health by 67.9% in the 2nd quarter. Canada Pension Plan Investment Board now owns 1,541,842 shares of the pharmacy operator’s stock worth $106,356,000 after buying an additional 623,715 shares during the period. 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.