CVS Health (NYSE:CVS) Stock Price Up 0.6% – Time to Buy?

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

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on CVS shares. UBS Group increased their price target on shares of CVS Health from $60.00 to $62.00 and gave the stock a “neutral” rating in a report on Thursday, November 7th. Wells Fargo & Company raised CVS Health from an “equal weight” rating to an “overweight” rating and lifted their price target for the stock from $60.00 to $66.00 in a research note on Monday, November 18th. Piper Sandler decreased their price objective on CVS Health from $72.00 to $64.00 and set an “overweight” rating on the stock in a report on Monday, November 25th. 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. Finally, Cantor Fitzgerald reiterated a “neutral” rating and issued a $62.00 price target on shares of CVS Health in a report on Tuesday, October 1st. One research analyst has rated the stock with a sell rating, six have given a hold rating and thirteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, CVS Health has an average rating of “Moderate Buy” and an average target price of $68.71.

CVS Health Price Performance

The stock has a 50-day moving average price of $51.27 and a two-hundred day moving average price of $56.29. The stock has a market cap of $66.50 billion, a price-to-earnings ratio of 13.40, a PEG ratio of 0.79 and a beta of 0.59. The company has a current ratio of 0.80, a quick ratio of 0.59 and a debt-to-equity ratio of 0.80.

CVS Health (NYSE:CVS) last released its earnings results on Wednesday, November 6th. The pharmacy operator reported $1.09 EPS for the quarter, topping analysts’ consensus estimates of $1.08 by $0.01. The company had revenue of $95.43 billion during the quarter, compared to analysts’ expectations of $92.72 billion. CVS Health had a net margin of 1.36% and a return on equity of 10.72%. CVS Health’s revenue for the quarter was up 6.3% on a year-over-year basis. During the same period last year, the business earned $2.21 EPS. As a group, equities research analysts forecast that CVS Health Co. will post 5.22 EPS for the current year.

CVS Health Announces Dividend

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

Institutional Trading of CVS Health

Hedge funds have recently added to or reduced their stakes in the company. Sound Income Strategies LLC increased its stake in CVS Health by 7.2% during the third quarter. Sound Income Strategies LLC now owns 2,397 shares of the pharmacy operator’s stock valued at $151,000 after purchasing an additional 162 shares during the last quarter. Hexagon Capital Partners LLC boosted its stake in CVS Health by 3.5% in the third quarter. Hexagon Capital Partners LLC now owns 5,268 shares of the pharmacy operator’s stock valued at $331,000 after acquiring an additional 178 shares during the period. Bruce G. Allen Investments LLC grew its holdings in shares of CVS Health by 13.1% during the third quarter. Bruce G. Allen Investments LLC now owns 1,681 shares of the pharmacy operator’s stock valued at $106,000 after purchasing an additional 195 shares during the last quarter. Integrated Advisors Network LLC lifted its holdings in shares of CVS Health by 0.7% in the 3rd quarter. Integrated Advisors Network LLC now owns 27,625 shares of the pharmacy operator’s stock worth $1,737,000 after purchasing an additional 200 shares during the last quarter. Finally, Widmann Financial Services Inc. increased its position in CVS Health by 1.8% in the third quarter. Widmann Financial Services Inc. now owns 11,506 shares of the pharmacy operator’s stock worth $724,000 after buying an additional 200 shares during the period. 80.66% of the stock is owned by hedge funds and other 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.