Truist Financial Cuts CVS Health (NYSE:CVS) Price Target to $60.00

CVS Health (NYSE:CVS) had its price objective cut by Truist Financial from $67.00 to $60.00 in a research report report published on Monday,Benzinga reports. They currently have a buy rating on the pharmacy operator’s stock.

A number of other research analysts have also commented on CVS. Mizuho decreased their price objective on CVS Health from $73.00 to $66.00 and set an “outperform” rating on the stock in a report on Thursday, October 24th. TD Cowen raised their price target on shares of CVS Health from $73.00 to $80.00 and gave the stock a “buy” rating in a research report on Monday, November 25th. Deutsche Bank Aktiengesellschaft raised shares of CVS Health from a “hold” rating to a “buy” rating and set a $66.00 price objective for the company in a report on Tuesday, December 3rd. Cantor Fitzgerald reiterated a “neutral” rating and issued a $62.00 price target on shares of CVS Health in a research report on Tuesday, October 1st. Finally, Wells Fargo & Company raised CVS Health from an “equal weight” rating to an “overweight” rating and increased their price target for the stock from $60.00 to $66.00 in a research report on Monday, November 18th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and thirteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, CVS Health currently has a consensus rating of “Moderate Buy” and an average price target of $68.71.

CVS Health Trading Up 0.3 %

CVS stock opened at $45.92 on Monday. The stock has a market cap of $57.79 billion, a price-to-earnings ratio of 11.65, a price-to-earnings-growth ratio of 0.85 and a beta of 0.59. The company has a fifty day moving average price of $52.19 and a two-hundred day moving average price of $56.75. CVS Health has a one year low of $43.56 and a one year high of $81.03. The company has a debt-to-equity ratio of 0.80, a current ratio of 0.80 and a quick ratio of 0.59.

CVS Health (NYSE:CVS) last released its quarterly earnings results on Wednesday, November 6th. The pharmacy operator reported $1.09 earnings per share for the quarter, beating the consensus estimate of $1.08 by $0.01. CVS Health had a net margin of 1.36% and a return on equity of 10.72%. The firm had revenue of $95.43 billion for the quarter, compared to analysts’ expectations of $92.72 billion. During the same period in the prior year, the firm earned $2.21 EPS. The business’s revenue was up 6.3% on a year-over-year basis. Equities analysts anticipate that CVS Health will post 5.32 EPS for the current year.

CVS Health Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, February 3rd. Investors of record on Thursday, January 23rd will be issued a dividend of $0.665 per share. This represents a $2.66 annualized dividend and a dividend yield of 5.79%. The ex-dividend date is Thursday, January 23rd. CVS Health’s dividend payout ratio (DPR) is presently 67.51%.

Institutional Trading of CVS Health

A number of hedge funds have recently added to or reduced their stakes in CVS. MidAtlantic Capital Management Inc. bought a new position in shares of CVS Health in the 3rd quarter valued at $25,000. Livelsberger Financial Advisory acquired a new stake in shares of CVS Health during the third quarter valued at about $31,000. Legacy Investment Solutions LLC acquired a new stake in shares of CVS Health during the third quarter valued at about $31,000. Reston Wealth Management LLC bought a new position in CVS Health in the 3rd quarter valued at approximately $32,000. Finally, Kathleen S. Wright Associates Inc. acquired a new stake in CVS Health during the 3rd quarter worth approximately $33,000. Institutional investors and hedge funds own 80.66% of the company’s stock.

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.