CVS Health (NYSE:CVS) Price Target Raised to $80.00

CVS Health (NYSE:CVS) had its target price lifted by Barclays from $79.00 to $80.00 in a report issued on Friday morning,Benzinga reports. The brokerage currently has an overweight rating on the pharmacy operator’s stock.

CVS has been the subject of a number of other reports. Wall Street Zen raised CVS Health from a “hold” rating to a “buy” rating in a research report on Friday, May 9th. Robert W. Baird raised their price objective on CVS Health from $51.00 to $71.00 and gave the company a “neutral” rating in a research report on Tuesday, April 15th. Royal Bank Of Canada raised their price objective on CVS Health from $74.00 to $81.00 and gave the company an “outperform” rating in a research report on Monday, May 5th. Jefferies Financial Group increased their target price on CVS Health from $74.00 to $80.00 and gave the stock a “buy” rating in a research note on Monday, June 30th. Finally, Mizuho increased their target price on CVS Health from $70.00 to $76.00 and gave the stock an “outperform” rating in a research note on Wednesday, April 9th. Three research analysts have rated the stock with a hold rating, eighteen have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, CVS Health currently has an average rating of “Moderate Buy” and an average price target of $75.11.

CVS Health Stock Performance

Shares of NYSE CVS opened at $62.52 on Friday. The stock has a 50 day moving average price of $64.56 and a 200 day moving average price of $64.01. CVS Health has a 52 week low of $43.56 and a 52 week high of $72.51. The company has a debt-to-equity ratio of 0.74, a quick ratio of 0.62 and a current ratio of 0.80. The stock has a market capitalization of $79.30 billion, a PE ratio of 17.46, a price-to-earnings-growth ratio of 0.86 and a beta of 0.58.

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

CVS Health Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, August 1st. Stockholders of record on Tuesday, July 22nd were paid a $0.665 dividend. The ex-dividend date was Tuesday, July 22nd. This represents a $2.66 annualized dividend and a dividend yield of 4.3%. CVS Health’s dividend payout ratio (DPR) is presently 74.30%.

Insider Activity

In other CVS Health news, Director Guy P. Sansone purchased 1,570 shares of the firm’s stock in a transaction dated Thursday, June 5th. The shares were bought at an average price of $63.70 per share, for a total transaction of $100,009.00. Following the purchase, the director owned 12,007 shares in the company, valued at approximately $764,845.90. This trade represents a 15.04% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 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 bought and sold shares of the company. Avion Wealth lifted its holdings in CVS Health by 99.0% during the 2nd quarter. Avion Wealth now owns 380 shares of the pharmacy operator’s stock worth $26,000 after buying an additional 189 shares during the period. Harbor Asset Planning Inc. acquired a new position in CVS Health during the 2nd quarter worth about $30,000. Bell Investment Advisors Inc lifted its holdings in CVS Health by 119.8% during the 1st quarter. Bell Investment Advisors Inc now owns 455 shares of the pharmacy operator’s stock worth $31,000 after buying an additional 248 shares during the period. Roxbury Financial LLC lifted its holdings in CVS Health by 78.3% during the 2nd quarter. Roxbury Financial LLC now owns 460 shares of the pharmacy operator’s stock worth $32,000 after buying an additional 202 shares during the period. Finally, ORG Partners LLC lifted its holdings in CVS Health by 418.9% during the 2nd quarter. ORG Partners LLC now owns 467 shares of the pharmacy operator’s stock worth $32,000 after buying an additional 377 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.