CVS Health Co. (NYSE:CVS) has been given a consensus recommendation of “Buy” by the twenty analysts that are currently covering the company, MarketBeat Ratings reports. Four equities research analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has issued a strong buy rating on the company. The average 1 year price target among brokerages that have updated their coverage on the stock in the last year is $94.89.
A number of brokerages have recently weighed in on CVS. Deutsche Bank Aktiengesellschaft boosted their price target on CVS Health from $95.00 to $101.00 and gave the stock a “buy” rating in a research note on Thursday, August 5th. Tigress Financial reissued a “buy” rating and issued a $108.00 price target on shares of CVS Health in a report on Friday, July 23rd. Wells Fargo & Company assumed coverage on CVS Health in a research note on Monday, May 24th. They set an “equal weight” rating and a $89.00 target price for the company. Finally, Morgan Stanley upped their target price on CVS Health from $99.00 to $114.00 and gave the stock an “overweight” rating in a research note on Tuesday, August 31st.
CVS traded up $0.16 on Friday, hitting $85.51. The company had a trading volume of 8,733,065 shares, compared to its average volume of 6,445,149. The stock has a fifty day moving average price of $83.89 and a 200-day moving average price of $81.29. CVS Health has a 12-month low of $55.36 and a 12-month high of $90.61. The company has a debt-to-equity ratio of 0.81, a quick ratio of 0.67 and a current ratio of 0.95. The stock has a market capitalization of $112.84 billion, a price-to-earnings ratio of 15.69, a P/E/G ratio of 1.68 and a beta of 0.83.
The company also recently announced a quarterly dividend, which was paid on Monday, August 2nd. Investors of record on Friday, July 23rd were paid a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a yield of 2.34%. The ex-dividend date was Thursday, July 22nd. CVS Health’s payout ratio is 26.67%.
In other CVS Health news, EVP Troyen A. Brennan sold 2,625 shares of CVS Health stock in a transaction that occurred on Thursday, September 2nd. The stock was sold at an average price of $87.00, for a total value of $228,375.00. Following the transaction, the executive vice president now directly owns 140,201 shares in the company, valued at approximately $12,197,487. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Alan Lotvin sold 2,781 shares of CVS Health stock in a transaction that occurred on Monday, June 28th. The shares were sold at an average price of $83.67, for a total value of $232,686.27. Following the completion of the transaction, the executive vice president now owns 61,048 shares in the company, valued at $5,107,886.16. The disclosure for this sale can be found here. 0.69% of the stock is currently owned by corporate insiders.
Several institutional investors and hedge funds have recently bought and sold shares of CVS. Capital International Investors lifted its holdings in shares of CVS Health by 55.8% in the 2nd quarter. Capital International Investors now owns 27,400,512 shares of the pharmacy operator’s stock valued at $2,286,301,000 after buying an additional 9,809,050 shares during the period. JPMorgan Chase & Co. raised its holdings in CVS Health by 39.5% during the first quarter. JPMorgan Chase & Co. now owns 15,873,108 shares of the pharmacy operator’s stock worth $1,194,135,000 after purchasing an additional 4,491,735 shares during the last quarter. Hotchkis & Wiley Capital Management LLC acquired a new position in CVS Health during the second quarter worth $291,690,000. Amundi acquired a new position in shares of CVS Health in the second quarter worth $201,455,000. Finally, GSB Wealth Management LLC acquired a new position in shares of CVS Health in the first quarter worth $171,279,000. 75.94% of the stock is owned by institutional investors and hedge funds.
CVS Health Company Profile
CVS Health Corp. engages in the provision of health care services. It operates through the following segments: Pharmacy Services, Retail or Long Term Care, Health Care Benefits, and Corporate/Other. The Pharmacy Services segment offers pharmacy benefit management solutions. The Retail or Long Term Care segment includes selling of prescription drugs and assortment of general merchandise.
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