CVS Health (NYSE:CVS) Trading 0.8% Higher – Time to Buy?

CVS Health Co. (NYSE:CVS) traded up 0.8% during mid-day trading on Wednesday . The company traded as high as $54.54 and last traded at $54.48. 1,367,587 shares were traded during mid-day trading, a decline of 88% from the average session volume of 11,298,789 shares. The stock had previously closed at $54.03.

Analyst Ratings Changes

Several research analysts recently issued reports on CVS shares. Cantor Fitzgerald reissued a “neutral” rating and set a $62.00 target price on shares of CVS Health in a report on Tuesday, October 1st. Deutsche Bank Aktiengesellschaft lowered their price target on shares of CVS Health from $64.00 to $63.00 and set a “hold” rating on the stock in a research report on Friday, August 9th. Truist Financial lifted their target price on shares of CVS Health from $66.00 to $76.00 and gave the stock a “buy” rating in a research note on Friday, October 11th. TD Cowen raised shares of CVS Health from a “hold” rating to a “buy” rating and lifted their target price for the stock from $59.00 to $85.00 in a research note on Friday, October 4th. Finally, Evercore ISI boosted their price target 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. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and twelve have given a buy rating to the company’s stock. According to data from MarketBeat.com, CVS Health presently has an average rating of “Moderate Buy” and an average price target of $73.00.

CVS Health Price Performance

The company has a 50-day simple moving average of $59.41 and a 200-day simple moving average of $58.79. The stock has a market cap of $69.35 billion, a PE ratio of 13.99, a PEG ratio of 0.93 and a beta of 0.55. 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 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. The firm had revenue of $95.43 billion during the quarter, compared to analysts’ expectations of $92.72 billion. CVS Health had a return on equity of 10.72% and a net margin of 1.36%. CVS Health’s revenue was up 6.3% compared to the same quarter last year. During the same quarter in the prior year, the business posted $2.21 earnings per share. Sell-side analysts anticipate that CVS Health Co. will post 5.48 EPS for the current fiscal year.

CVS Health Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, November 1st. Stockholders of record on Monday, October 21st were given a $0.665 dividend. This represents a $2.66 dividend on an annualized basis and a dividend yield of 4.83%. The ex-dividend date was Monday, October 21st. CVS Health’s dividend payout ratio is currently 67.51%.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the company. Garland Capital Management Inc. increased its position in shares of CVS Health by 0.3% in the second quarter. Garland Capital Management Inc. now owns 60,810 shares of the pharmacy operator’s stock valued at $3,591,000 after buying an additional 160 shares in the last quarter. Sound Income Strategies LLC increased its position in CVS Health by 7.2% during the 3rd quarter. Sound Income Strategies LLC now owns 2,397 shares of the pharmacy operator’s stock worth $151,000 after purchasing an additional 162 shares in the last quarter. Plimoth Trust Co. LLC increased its position in CVS Health by 0.4% during the 2nd quarter. Plimoth Trust Co. LLC now owns 46,637 shares of the pharmacy operator’s stock worth $2,754,000 after purchasing an additional 174 shares in the last quarter. Hexagon Capital Partners LLC increased its position in CVS Health by 3.5% during the 3rd quarter. Hexagon Capital Partners LLC now owns 5,268 shares of the pharmacy operator’s stock worth $331,000 after purchasing an additional 178 shares in the last quarter. Finally, Pallas Capital Advisors LLC increased its position in CVS Health by 2.5% during the 2nd quarter. Pallas Capital Advisors LLC now owns 7,458 shares of the pharmacy operator’s stock worth $447,000 after purchasing an additional 183 shares in the last quarter. Hedge funds and other 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.