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

by · The Markets Daily

CVS Health (NYSE:CVS – Free Report) had its price target trimmed by Piper Sandler from $72.00 to $64.00 in a research report sent to investors on Monday,Benzinga reports. The brokerage currently has an overweight rating on the pharmacy operator’s stock.

A number of other equities research analysts also recently issued reports on CVS. Evercore ISI increased their price target on CVS Health from $62.00 to $75.00 and gave the stock an “outperform” rating in a research report on Tuesday, October 8th. UBS Group increased their price target on CVS Health from $60.00 to $62.00 and gave the stock a “neutral” rating in a research report on Thursday, November 7th. Cantor Fitzgerald reaffirmed a “neutral” rating and issued a $62.00 target price on shares of CVS Health in a report on Tuesday, October 1st. Royal Bank of Canada reduced their target price on CVS Health from $68.00 to $58.00 and set an “outperform” rating on the stock in a report on Friday, November 15th. Finally, Truist Financial reaffirmed a “buy” rating and issued a $67.00 target price (down previously from $76.00) on shares of CVS Health in a report on Wednesday, November 20th. One analyst has rated the stock with a sell rating, seven have given a hold rating and thirteen have assigned a buy rating to the company. According to MarketBeat, CVS Health currently has an average rating of “Moderate Buy” and a consensus price target of $70.33.

Get Our Latest Analysis on CVS

CVS Health Price Performance

CVS Health stock opened at $59.96 on Monday. CVS Health has a 12 month low of $52.71 and a 12 month high of $83.25. The stock’s 50 day moving average is $59.33 and its 200-day moving average is $58.73. The company has a current ratio of 0.80, a quick ratio of 0.59 and a debt-to-equity ratio of 0.80. The company has a market capitalization of $75.45 billion, a price-to-earnings ratio of 15.22, a PEG ratio of 1.01 and a beta of 0.55.

CVS Health (NYSE:CVS – Get Free Report) last issued its quarterly earnings results on Wednesday, November 6th. The pharmacy operator reported $1.09 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.08 by $0.01. The business had revenue of $95.43 billion for the quarter, compared to the consensus estimate of $92.72 billion. CVS Health had a return on equity of 10.72% and a net margin of 1.36%. The firm’s quarterly revenue was up 6.3% compared to the same quarter last year. During the same quarter in the prior year, the business posted $2.21 earnings per share. Equities research analysts expect that CVS Health will post 5.43 EPS for the current year.

CVS Health Announces Dividend

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

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the company. MidAtlantic Capital Management Inc. bought a new position in CVS Health during the 3rd quarter worth $25,000. Livelsberger Financial Advisory bought a new position in CVS Health during the 3rd quarter worth $31,000. Legacy Investment Solutions LLC bought a new position in CVS Health during the 3rd quarter worth $31,000. Reston Wealth Management LLC bought a new position in CVS Health during the 3rd quarter worth $32,000. Finally, First Community Trust NA raised its position in CVS Health by 116.2% during the 2nd quarter. First Community Trust NA now owns 562 shares of the pharmacy operator’s stock worth $33,000 after purchasing an additional 302 shares during the last quarter. 80.66% of the stock is currently owned by institutional investors.

About CVS Health

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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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