CVS Health (NYSE:CVS) Price Target Cut to $71.00 by Analysts at Barclays

by · The Markets Daily

CVS Health (NYSE:CVS – Free Report) had its price target decreased by Barclays from $75.00 to $71.00 in a research report report published on Thursday,Benzinga reports. Barclays currently has an overweight rating on the pharmacy operator’s stock.

Other equities analysts have also issued reports about the stock. Wells Fargo & Company lowered their target price on shares of CVS Health from $61.00 to $60.00 and set an “equal weight” rating for the company in a report on Monday. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $68.00 target price on shares of CVS Health in a research report on Wednesday, September 4th. Truist Financial lifted their target price on shares of CVS Health from $66.00 to $76.00 and gave the stock a “buy” rating in a research report on Friday, October 11th. Evercore ISI lifted their target price on shares of CVS Health from $62.00 to $75.00 and gave the stock an “outperform” rating in a research report on Tuesday, October 8th. Finally, Mizuho cut their target price on shares of CVS Health from $73.00 to $66.00 and set an “outperform” rating for the company in a research report on Thursday, October 24th. Nine equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $73.00.

View Our Latest Stock Analysis on CVS

CVS Health Trading Down 2.7 %

Shares of NYSE CVS traded down $1.53 during trading hours on Thursday, hitting $55.54. The company’s stock had a trading volume of 13,132,441 shares, compared to its average volume of 11,319,389. The company has a debt-to-equity ratio of 0.83, a quick ratio of 0.66 and a current ratio of 0.86. The stock has a market cap of $69.87 billion, a price-to-earnings ratio of 14.49, a P/E/G ratio of 0.82 and a beta of 0.55. CVS Health has a 12 month low of $52.77 and a 12 month high of $83.25. The business has a 50-day simple moving average of $59.59 and a 200-day simple moving average of $59.23.

CVS Health (NYSE:CVS – Get Free Report) last issued its quarterly earnings data on Wednesday, November 6th. The pharmacy operator reported $1.09 EPS for the quarter, topping the consensus estimate of $1.08 by $0.01. CVS Health had a net margin of 1.98% and a return on equity of 12.72%. The business had revenue of $95.43 billion during the quarter, compared to analyst estimates of $92.72 billion. During the same period last year, the business posted $2.21 earnings per share. CVS Health’s quarterly revenue was up 6.3% compared to the same quarter last year. On average, analysts anticipate that CVS Health will post 6.27 earnings per share for the current fiscal year.

CVS Health Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, November 1st. Investors of record on Monday, October 21st were given a dividend of $0.665 per share. The ex-dividend date was Monday, October 21st. This represents a $2.66 dividend on an annualized basis and a yield of 4.79%. CVS Health’s payout ratio is 67.51%.

Institutional Investors Weigh In On CVS Health

Hedge funds and other institutional investors have recently bought and sold shares of the company. MidAtlantic Capital Management Inc. purchased a new stake in CVS Health during the third quarter valued at approximately $25,000. Livelsberger Financial Advisory purchased a new position in shares of CVS Health in the third quarter worth $31,000. Reston Wealth Management LLC purchased a new position in shares of CVS Health in the third quarter worth $32,000. First Community Trust NA raised its holdings in shares of CVS Health by 116.2% in the second quarter. First Community Trust NA now owns 562 shares of the pharmacy operator’s stock worth $33,000 after buying an additional 302 shares during the last quarter. Finally, Kathleen S. Wright Associates Inc. purchased a new position in shares of CVS Health in the third quarter worth $33,000. Hedge funds and other institutional investors own 80.66% of the company’s stock.

CVS Health Company Profile

(Get Free Report)

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.

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