Mizuho Cuts CVS Health (NYSE:CVS) Price Target to $66.00

CVS Health (NYSE:CVS) had its price objective cut by Mizuho from $73.00 to $66.00 in a research note published on Thursday, Benzinga reports. They currently have an outperform rating on the pharmacy operator’s stock.

Other analysts have also issued research reports about the company. Cantor Fitzgerald reissued a “neutral” rating and set a $62.00 price target on shares of CVS Health in a report on Tuesday, October 1st. Wells Fargo & Company increased their target price on CVS Health from $60.00 to $61.00 and gave the stock an “equal weight” rating in a research report on Monday, August 12th. Barclays dropped their price target on CVS Health from $82.00 to $75.00 and set an “overweight” rating for the company in a research note on Wednesday. Evercore ISI raised their target price on shares of CVS Health from $62.00 to $75.00 and gave the company an “outperform” rating in a research note on Tuesday, October 8th. Finally, Truist Financial raised their price objective on CVS Health from $66.00 to $76.00 and gave the company a “buy” rating in a research report on Friday, October 11th. Nine equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. According to MarketBeat.com, CVS Health has a consensus rating of “Moderate Buy” and a consensus target price of $74.58.

CVS Health Stock Up 1.5 %

Shares of CVS Health stock traded up $0.83 during midday trading on Thursday, hitting $56.95. The company had a trading volume of 1,562,411 shares, compared to its average volume of 11,190,254. CVS Health has a 52-week low of $52.77 and a 52-week high of $83.25. The company has a debt-to-equity ratio of 0.83, a quick ratio of 0.66 and a current ratio of 0.86. The stock has a market capitalization of $71.64 billion, a P/E ratio of 10.12, a P/E/G ratio of 0.84 and a beta of 0.54. The company has a 50 day moving average of $59.88 and a 200 day moving average of $60.17.

CVS Health (NYSE:CVS) last issued its earnings results on Wednesday, August 7th. The pharmacy operator reported $1.83 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.73 by $0.10. The firm had revenue of $91.23 billion for the quarter, compared to the consensus estimate of $91.41 billion. CVS Health had a net margin of 1.98% and a return on equity of 12.72%. The business’s revenue was up 2.6% on a year-over-year basis. During the same quarter in the prior year, the firm posted $2.21 earnings per share. On average, equities analysts predict that CVS Health will post 6.41 earnings per share for the current fiscal year.

CVS Health Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, November 1st. Stockholders of record on Monday, October 21st will be paid a dividend of $0.665 per share. This represents a $2.66 annualized dividend and a dividend yield of 4.67%. The ex-dividend date is Monday, October 21st. CVS Health’s dividend payout ratio is presently 47.33%.

Hedge Funds Weigh In On CVS Health

Several institutional investors have recently bought and sold shares of CVS. Livelsberger Financial Advisory purchased a new stake in CVS Health in the third quarter valued at $31,000. First Community Trust NA raised its holdings in shares of CVS Health by 116.2% during the 2nd quarter. First Community Trust NA now owns 562 shares of the pharmacy operator’s stock worth $33,000 after acquiring an additional 302 shares during the period. Kathleen S. Wright Associates Inc. acquired a new stake in CVS Health during the third quarter worth $33,000. ORG Partners LLC increased its position in shares of CVS Health by 11,840.0% during the second quarter. ORG Partners LLC now owns 597 shares of the pharmacy operator’s stock valued at $35,000 after acquiring an additional 592 shares during the last quarter. Finally, Oliver Lagore Vanvalin Investment Group lifted its stake in CVS Health by 71.0% during the 2nd quarter. Oliver Lagore Vanvalin Investment Group now owns 595 shares of the pharmacy operator’s stock worth $35,000 after acquiring an additional 247 shares in the last quarter. 80.66% of the stock is owned by hedge funds and other institutional investors.

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.