CVS Health’s (CVS) “Neutral” Rating Reiterated at Cantor Fitzgerald

Cantor Fitzgerald reiterated their neutral rating on shares of CVS Health (NYSE:CVS) in a research note issued to investors on Monday morning, Benzinga reports. Cantor Fitzgerald currently has a $62.00 target price on the pharmacy operator’s stock.

Several other brokerages have also recently weighed in on CVS. Barclays decreased their price target on CVS Health from $65.00 to $63.00 and set an equal weight rating for the company in a research note on Thursday, August 8th. Royal Bank of Canada restated an outperform rating and set a $68.00 price target on shares of CVS Health in a report on Wednesday, September 4th. JPMorgan Chase & Co. reduced their price objective on shares of CVS Health from $101.00 to $86.00 and set an overweight rating on the stock in a research note on Thursday, May 30th. Evercore ISI lowered their target price on shares of CVS Health from $65.00 to $62.00 and set an outperform rating for the company in a research note on Thursday, August 8th. Finally, Baird R W upgraded CVS Health to a hold rating in a report on Thursday, May 30th. Eleven research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of Moderate Buy and a consensus price target of $72.10.

CVS Health Stock Performance

CVS Health stock opened at $58.40 on Monday. The business has a 50 day moving average of $58.34 and a 200-day moving average of $62.71. The company has a debt-to-equity ratio of 0.83, a current ratio of 0.86 and a quick ratio of 0.66. CVS Health has a 1 year low of $52.77 and a 1 year high of $83.25. The company has a market capitalization of $73.31 billion, a P/E ratio of 10.26, a P/E/G ratio of 0.79 and a beta of 0.53.

CVS Health (NYSE:CVS) last released its quarterly earnings results on Wednesday, August 7th. The pharmacy operator reported $1.83 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.73 by $0.10. CVS Health had a net margin of 1.98% and a return on equity of 12.72%. The firm had revenue of $91.23 billion during the quarter, compared to the consensus estimate of $91.41 billion. During the same quarter last year, the firm earned $2.21 earnings per share. The company’s revenue for the quarter was up 2.6% on a year-over-year basis. On average, equities research analysts predict that CVS Health will post 6.51 earnings per share for the current year.

CVS Health Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, August 1st. Stockholders of record on Monday, July 22nd were issued a dividend of $0.665 per share. This represents a $2.66 dividend on an annualized basis and a dividend yield of 4.55%. The ex-dividend date was Monday, July 22nd. CVS Health’s dividend payout ratio is currently 46.75%.

Institutional Investors Weigh In On CVS Health

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Ables Iannone Moore & Associates Inc. purchased a new stake in shares of CVS Health in the fourth quarter worth approximately $32,000. First Community Trust NA lifted its position in shares of CVS Health by 116.2% during the second quarter. First Community Trust NA now owns 562 shares of the pharmacy operator’s stock valued at $33,000 after purchasing an additional 302 shares in the last quarter. Creekmur Asset Management LLC purchased a new position in CVS Health during the fourth quarter worth about $34,000. Steph & Co. grew its position in CVS Health by 192.0% in the 1st quarter. Steph & Co. now owns 438 shares of the pharmacy operator’s stock worth $35,000 after purchasing an additional 288 shares in the last quarter. Finally, ORG Partners LLC increased its stake in CVS Health by 11,840.0% in the 2nd quarter. ORG Partners LLC now owns 597 shares of the pharmacy operator’s stock valued at $35,000 after buying an additional 592 shares during the last quarter. Institutional investors and hedge funds 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.