CVS Health (NYSE:CVS) Trading 0.6% Higher – Should You Buy?

CVS Health Co. (NYSE:CVS) shares were up 0.6% during trading on Tuesday . The stock traded as high as $53.07 and last traded at $52.94. Approximately 2,136,588 shares changed hands during mid-day trading, a decline of 84% from the average daily volume of 13,610,521 shares. The stock had previously closed at $52.62.

Wall Street Analyst Weigh In

CVS has been the subject of a number of recent analyst reports. TD Cowen increased their target price on shares of CVS Health from $73.00 to $80.00 and gave the company a “buy” rating in a research report on Monday, November 25th. Wells Fargo & Company upgraded CVS Health from an “equal weight” rating to an “overweight” rating and upped their target price for the stock from $60.00 to $66.00 in a research report on Monday, November 18th. StockNews.com lowered CVS Health from a “hold” rating to a “sell” rating in a report on Thursday, November 14th. Deutsche Bank Aktiengesellschaft raised CVS Health from a “hold” rating to a “buy” rating and set a $66.00 target price on the stock in a report on Tuesday, December 3rd. Finally, Cantor Fitzgerald restated a “neutral” rating and set a $62.00 price objective on shares of CVS Health in a research report on Tuesday, October 1st. One analyst has rated the stock with a sell rating, six have issued a hold rating and thirteen have given a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $68.71.

CVS Health Stock Up 0.4 %

The business’s 50 day moving average price is $51.27 and its 200-day moving average price is $56.29. The company has a market cap of $66.50 billion, a P/E ratio of 13.40, a PEG ratio of 0.79 and a beta of 0.59. 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 posted its quarterly earnings data on Wednesday, November 6th. The pharmacy operator reported $1.09 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.08 by $0.01. CVS Health had a return on equity of 10.72% and a net margin of 1.36%. The firm had revenue of $95.43 billion for the quarter, compared to the consensus estimate of $92.72 billion. During the same quarter in the prior year, the business earned $2.21 EPS. The business’s revenue for the quarter was up 6.3% compared to the same quarter last year. On average, analysts anticipate that CVS Health Co. will post 5.22 earnings per share for the current fiscal year.

CVS Health Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, February 3rd. Investors of record on Thursday, January 23rd will be given a $0.665 dividend. This represents a $2.66 dividend on an annualized basis and a dividend yield of 5.03%. The ex-dividend date of this dividend is Thursday, January 23rd. CVS Health’s dividend payout ratio is currently 67.51%.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of CVS. Intech Investment Management LLC raised its holdings in CVS Health by 17.1% in the 2nd quarter. Intech Investment Management LLC now owns 56,601 shares of the pharmacy operator’s stock valued at $3,343,000 after acquiring an additional 8,261 shares in the last quarter. AE Wealth Management LLC boosted its position in CVS Health by 12.3% during the second quarter. AE Wealth Management LLC now owns 56,116 shares of the pharmacy operator’s stock valued at $3,314,000 after acquiring an additional 6,151 shares during the last quarter. Summit Trail Advisors LLC increased its stake in shares of CVS Health by 33.3% in the 2nd quarter. Summit Trail Advisors LLC now owns 14,282 shares of the pharmacy operator’s stock valued at $843,000 after acquiring an additional 3,564 shares in the last quarter. ProShare Advisors LLC raised its stake in CVS Health by 9.0% during the 2nd quarter. ProShare Advisors LLC now owns 209,881 shares of the pharmacy operator’s stock worth $12,396,000 after buying an additional 17,281 shares during the period. Finally, Frank Rimerman Advisors LLC increased its stake in CVS Health by 9,318.2% during the 2nd quarter. Frank Rimerman Advisors LLC now owns 9,324 shares of the pharmacy operator’s stock valued at $551,000 after purchasing an additional 9,225 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.