CVS Health (NYSE:CVS) Price Target Raised to $88.00

CVS Health (NYSE:CVS) had its price objective upped by Mizuho from $76.00 to $88.00 in a report published on Thursday morning, MarketBeat reports. They currently have an outperform rating on the pharmacy operator’s stock.

A number of other equities research analysts have also weighed in on the stock. Barclays boosted their price objective on shares of CVS Health from $80.00 to $87.00 and gave the stock an “overweight” rating in a report on Thursday, September 4th. Jefferies Financial Group boosted their price objective 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. Morgan Stanley boosted their price objective 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. Sanford C. Bernstein boosted their price objective on shares of CVS Health from $72.00 to $77.00 and gave the stock a “market perform” rating in a report on Friday, September 5th. Finally, Wolfe Research boosted their price objective on shares of CVS Health from $80.00 to $85.00 and gave the stock an “outperform” rating in a report on Monday, September 22nd. Two equities research analysts have rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat, CVS Health has a consensus rating of “Moderate Buy” and an average target price of $79.80.

CVS Health Price Performance

CVS stock opened at $77.89 on Thursday. 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 one year low of $43.56 and a one year high of $79.20. The stock has a market cap of $98.79 billion, a PE ratio of 21.76, a P/E/G ratio of 0.86 and a beta of 0.60. The firm has a 50 day simple moving average of $72.28 and a two-hundred day simple moving average of $67.67.

CVS Health (NYSE:CVS) last released its quarterly earnings results on Thursday, July 31st. The pharmacy operator reported $1.81 EPS for the quarter, topping analysts’ consensus estimates of $1.46 by $0.35. CVS Health had a net margin of 1.17% and a return on equity of 10.51%. The business had revenue of $98.92 billion during the quarter, compared to analysts’ expectations of $94.87 billion. During the same quarter in the previous year, the company earned $1.83 EPS. The business’s quarterly revenue was up 8.4% compared to the same quarter last year. CVS Health has set its FY 2025 guidance at 6.300-6.400 EPS. On average, analysts predict that CVS Health will post 5.89 EPS for the current fiscal year.

CVS Health Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, November 3rd. Investors of record on Thursday, October 23rd will be issued a dividend of $0.665 per share. This represents a $2.66 dividend on an annualized basis and a yield of 3.4%. The ex-dividend date is Thursday, October 23rd. CVS Health’s dividend payout ratio is currently 74.30%.

Insider Buying and Selling

In related news, Director Anne A. Finucane sold 7,500 shares of the company’s stock in a transaction on Wednesday, August 20th. The shares were sold at an average price of $71.02, for a total transaction of $532,650.00. Following the completion of the sale, the director directly owned 22,156 shares in the company, valued at $1,573,519.12. This represents a 25.29% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. 1.22% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On CVS Health

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. HF Advisory Group LLC raised its holdings in CVS Health by 2.9% in the 3rd quarter. HF Advisory Group LLC now owns 5,219 shares of the pharmacy operator’s stock worth $393,000 after purchasing an additional 145 shares in the last quarter. FineMark National Bank & Trust raised its holdings in CVS Health by 1.7% in the 2nd quarter. FineMark National Bank & Trust now owns 9,576 shares of the pharmacy operator’s stock worth $661,000 after purchasing an additional 157 shares in the last quarter. 1620 Investment Advisors Inc. raised its holdings in CVS Health by 6.1% in the 3rd quarter. 1620 Investment Advisors Inc. now owns 2,736 shares of the pharmacy operator’s stock worth $206,000 after purchasing an additional 157 shares in the last quarter. Smartleaf Asset Management LLC raised its holdings in CVS Health by 1.1% in the 2nd quarter. Smartleaf Asset Management LLC now owns 15,059 shares of the pharmacy operator’s stock worth $1,031,000 after purchasing an additional 164 shares in the last quarter. Finally, Hazlett Burt & Watson Inc. raised its holdings in CVS Health by 10.9% in the 2nd quarter. Hazlett Burt & Watson Inc. now owns 1,682 shares of the pharmacy operator’s stock worth $117,000 after purchasing an additional 165 shares in the last quarter. 80.66% of the stock is currently owned by institutional investors.

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.