Analysts Set CVS Health Co. (NYSE:CVS) Target Price at $75.27

CVS Health Co. (NYSE:CVS) has received an average rating of “Moderate Buy” from the nineteen analysts that are covering the firm, MarketBeat Ratings reports. Two equities research analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has assigned a strong buy rating to the company. The average 1-year price objective among brokers that have issued a report on the stock in the last year is $75.27.

Several equities research analysts recently commented on CVS shares. Wells Fargo & Company reiterated an “overweight” rating and set a $84.00 target price (up from $76.00) on shares of CVS Health in a research report on Tuesday, May 6th. Cowen restated a “buy” rating on shares of CVS Health in a research report on Monday, May 5th. Barclays boosted their price target on shares of CVS Health from $73.00 to $82.00 and gave the stock an “overweight” rating in a research report on Friday, May 2nd. Royal Bank of Canada boosted their price target on shares of CVS Health from $74.00 to $81.00 and gave the stock an “outperform” rating in a research report on Monday, May 5th. Finally, Robert W. Baird boosted their price target on shares of CVS Health from $51.00 to $71.00 and gave the stock a “neutral” rating in a research report on Tuesday, April 15th.

CVS Health Trading Up 1.9%

Shares of CVS Health stock opened at $63.99 on Friday. The firm has a market capitalization of $80.95 billion, a PE ratio of 17.48, a price-to-earnings-growth ratio of 0.98 and a beta of 0.60. The company has a current ratio of 0.81, a quick ratio of 0.60 and a debt-to-equity ratio of 0.80. The firm’s 50 day moving average is $65.62 and its 200 day moving average is $59.60. CVS Health has a 1 year low of $43.56 and a 1 year high of $72.51.

CVS Health (NYSE:CVS) last announced its quarterly earnings results on Thursday, May 1st. The pharmacy operator reported $2.25 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.62 by $0.63. The company had revenue of $94.59 billion for the quarter, compared to analyst estimates of $93.07 billion. CVS Health had a net margin of 1.24% and a return on equity of 9.11%. The firm’s revenue was up 7.0% on a year-over-year basis. During the same period in the previous year, the firm posted $1.31 EPS. Equities research analysts forecast that CVS Health will post 5.89 earnings per share for the current fiscal year.

CVS Health Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, May 1st. Shareholders of record on Tuesday, April 22nd were issued a dividend of $0.665 per share. The ex-dividend date of this dividend was Tuesday, April 22nd. This represents a $2.66 annualized dividend and a yield of 4.16%. CVS Health’s payout ratio is 63.48%.

Insiders Place Their Bets

In other news, SVP James David Clark sold 7,513 shares of the company’s stock in a transaction on Wednesday, March 5th. The shares were sold at an average price of $66.35, for a total value of $498,487.55. Following the completion of the sale, the senior vice president now owns 8,394 shares in the company, valued at $556,941.90. This represents a 47.23% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Corporate insiders own 1.22% of the company’s stock.

Institutional Trading of CVS Health

Institutional investors have recently made changes to their positions in the company. Norges Bank bought a new stake in CVS Health in the fourth quarter worth about $839,574,000. Capital World Investors raised its position in shares of CVS Health by 26.6% in the fourth quarter. Capital World Investors now owns 61,039,777 shares of the pharmacy operator’s stock valued at $2,739,927,000 after purchasing an additional 12,819,148 shares during the period. Davis Selected Advisers raised its position in shares of CVS Health by 2,998.1% in the fourth quarter. Davis Selected Advisers now owns 11,385,950 shares of the pharmacy operator’s stock valued at $511,115,000 after purchasing an additional 11,018,438 shares during the period. Dodge & Cox raised its position in shares of CVS Health by 11.2% in the fourth quarter. Dodge & Cox now owns 70,105,899 shares of the pharmacy operator’s stock valued at $3,147,054,000 after purchasing an additional 7,075,209 shares during the period. Finally, Pzena Investment Management LLC raised its position in shares of CVS Health by 49.3% in the fourth quarter. Pzena Investment Management LLC now owns 19,610,579 shares of the pharmacy operator’s stock valued at $880,319,000 after purchasing an additional 6,475,271 shares during the period. Institutional investors own 80.66% of the company’s stock.

CVS Health Company Profile

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.