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

CVS Health (NYSE:CVS) had its price objective reduced by Piper Sandler from $72.00 to $64.00 in a report released on Monday,Benzinga reports. They currently have an overweight rating on the pharmacy operator’s stock.

A number of other research firms have also recently issued reports on CVS. Evercore ISI boosted their target price on CVS Health from $62.00 to $75.00 and gave the company an “outperform” rating in a research note on Tuesday, October 8th. Truist Financial reissued a “buy” rating and issued a $67.00 target price (down from $76.00) on shares of CVS Health in a research note on Wednesday, November 20th. Royal Bank of Canada decreased their target price on CVS Health from $68.00 to $58.00 and set an “outperform” rating for the company in a research note on Friday, November 15th. TD Cowen raised CVS Health from a “hold” rating to a “buy” rating and boosted their target price for the company from $59.00 to $85.00 in a research note on Friday, October 4th. Finally, Barclays cut their price target on CVS Health from $75.00 to $71.00 and set an “overweight” rating on the stock in a report on Thursday, November 7th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and thirteen have issued a buy rating to the stock. According to MarketBeat, CVS Health presently has a consensus rating of “Moderate Buy” and a consensus target price of $70.33.

CVS Health Stock Up 1.6 %

Shares of CVS Health stock opened at $59.96 on Monday. The company has a quick ratio of 0.59, a current ratio of 0.80 and a debt-to-equity ratio of 0.80. CVS Health has a 12 month low of $52.71 and a 12 month high of $83.25. The business has a fifty day simple moving average of $59.33 and a 200 day simple moving average of $58.73. The stock has a market cap of $75.45 billion, a PE ratio of 15.22, a price-to-earnings-growth ratio of 1.01 and a beta of 0.55.

CVS Health (NYSE:CVS) last announced its quarterly earnings data on Wednesday, November 6th. The pharmacy operator reported $1.09 EPS for the quarter, topping analysts’ consensus estimates of $1.08 by $0.01. CVS Health had a return on equity of 10.72% and a net margin of 1.36%. The business had revenue of $95.43 billion during the quarter, compared to analysts’ expectations of $92.72 billion. During the same period in the previous year, the firm earned $2.21 earnings per share. The firm’s quarterly revenue was up 6.3% compared to the same quarter last year. Research analysts predict that CVS Health will post 5.43 EPS for the current year.

CVS Health Dividend Announcement

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

Institutional Trading of CVS Health

Several institutional investors and hedge funds have recently bought and sold shares of the business. Tidal Investments LLC raised its stake in CVS Health by 52.2% in the third quarter. Tidal Investments LLC now owns 112,010 shares of the pharmacy operator’s stock valued at $7,043,000 after buying an additional 38,408 shares during the period. Wilmington Savings Fund Society FSB bought a new stake in CVS Health in the third quarter valued at approximately $2,071,000. World Investment Advisors LLC raised its stake in CVS Health by 280.7% in the third quarter. World Investment Advisors LLC now owns 27,543 shares of the pharmacy operator’s stock valued at $1,732,000 after buying an additional 20,308 shares during the period. Sanctuary Advisors LLC raised its stake in CVS Health by 42.0% in the third quarter. Sanctuary Advisors LLC now owns 192,436 shares of the pharmacy operator’s stock valued at $11,163,000 after buying an additional 56,890 shares during the period. Finally, Westside Investment Management Inc. grew its position in shares of CVS Health by 4.6% in the third quarter. Westside Investment Management Inc. now owns 64,517 shares of the pharmacy operator’s stock valued at $4,041,000 after purchasing an additional 2,856 shares during the last quarter. 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.