CVS Health (NYSE:CVS) Given New $64.00 Price Target at Piper Sandler

CVS Health (NYSE:CVS) had its price target trimmed by Piper Sandler from $72.00 to $64.00 in a research report sent to investors on Monday,Benzinga reports. The brokerage currently has an overweight rating on the pharmacy operator’s stock.

A number of other equities research analysts also recently issued reports on CVS. Evercore ISI increased their price target on CVS Health from $62.00 to $75.00 and gave the stock an “outperform” rating in a research report on Tuesday, October 8th. UBS Group increased their price target on CVS Health from $60.00 to $62.00 and gave the stock a “neutral” rating in a research report on Thursday, November 7th. Cantor Fitzgerald reaffirmed a “neutral” rating and issued a $62.00 target price on shares of CVS Health in a report on Tuesday, October 1st. Royal Bank of Canada reduced their target price on CVS Health from $68.00 to $58.00 and set an “outperform” rating on the stock in a report on Friday, November 15th. Finally, Truist Financial reaffirmed a “buy” rating and issued a $67.00 target price (down previously from $76.00) on shares of CVS Health in a report on Wednesday, November 20th. One analyst has rated the stock with a sell rating, seven have given a hold rating and thirteen have assigned a buy rating to the company. According to MarketBeat, CVS Health currently has an average rating of “Moderate Buy” and a consensus price target of $70.33.

CVS Health Price Performance

CVS Health stock opened at $59.96 on Monday. CVS Health has a 12 month low of $52.71 and a 12 month high of $83.25. The stock’s 50 day moving average is $59.33 and its 200-day moving average is $58.73. The company has a current ratio of 0.80, a quick ratio of 0.59 and a debt-to-equity ratio of 0.80. The company has a market capitalization of $75.45 billion, a price-to-earnings ratio of 15.22, a PEG ratio of 1.01 and a beta of 0.55.

CVS Health (NYSE:CVS) last issued its quarterly earnings results on Wednesday, November 6th. The pharmacy operator reported $1.09 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.08 by $0.01. The business had revenue of $95.43 billion for the quarter, compared to the consensus estimate of $92.72 billion. CVS Health had a return on equity of 10.72% and a net margin of 1.36%. The firm’s quarterly 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. Equities research analysts expect that CVS Health will post 5.43 EPS for the current year.

CVS Health Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, November 1st. Stockholders of record on Monday, October 21st were paid a $0.665 dividend. This represents a $2.66 dividend on an annualized basis and a dividend yield of 4.44%. The ex-dividend date of this dividend was Monday, October 21st. CVS Health’s payout ratio is 67.51%.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the company. MidAtlantic Capital Management Inc. bought a new position in CVS Health during the 3rd quarter worth $25,000. Livelsberger Financial Advisory bought a new position in CVS Health during the 3rd quarter worth $31,000. Legacy Investment Solutions LLC bought a new position in CVS Health during the 3rd quarter worth $31,000. Reston Wealth Management LLC bought a new position in CVS Health during the 3rd quarter worth $32,000. Finally, First Community Trust NA raised its position in 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 purchasing an additional 302 shares during 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.