Barclays Cuts CVS Health (NYSE:CVS) Price Target to $71.00

CVS Health (NYSE:CVS) had its price objective cut by Barclays from $75.00 to $71.00 in a report issued on Thursday morning,Benzinga reports. They currently have an overweight rating on the pharmacy operator’s stock.

Several other analysts also recently issued reports on CVS. Mizuho cut their price target on CVS Health from $73.00 to $66.00 and set an “outperform” rating on the stock in a report on Thursday, October 24th. Royal Bank of Canada reiterated an “outperform” rating and issued a $68.00 target price on shares of CVS Health in a research note on Wednesday, September 4th. Truist Financial upped their price target 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. Deutsche Bank Aktiengesellschaft cut their price objective on shares of CVS Health from $64.00 to $63.00 and set a “hold” rating on the stock in a research report on Friday, August 9th. Finally, TD Cowen upgraded shares of CVS Health from a “hold” rating to a “buy” rating and upped their target price for the stock from $59.00 to $85.00 in a research report on Friday, October 4th. Nine equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $73.00.

CVS Health Stock Performance

CVS Health stock opened at $55.54 on Thursday. The company has a market cap of $69.87 billion, a PE ratio of 14.10, a P/E/G ratio of 0.94 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 company has a fifty day moving average price of $59.56 and a two-hundred day moving average price of $59.19. The company has a debt-to-equity ratio of 0.80, a current ratio of 0.80 and a quick ratio of 0.66.

CVS Health (NYSE:CVS) last announced its quarterly earnings data on Wednesday, November 6th. The pharmacy operator reported $1.09 earnings per share for the quarter, beating analysts’ consensus estimates of $1.08 by $0.01. CVS Health had a net margin of 1.36% and a return on equity of 10.72%. The business had revenue of $95.43 billion during the quarter, compared to the consensus estimate of $92.72 billion. During the same quarter in the prior year, the firm earned $2.21 EPS. The company’s revenue for the quarter was up 6.3% compared to the same quarter last year. Research analysts expect that CVS Health will post 6.18 earnings per share for the current year.

CVS Health Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, November 1st. Stockholders of record on Monday, October 21st were paid a $0.665 dividend. The ex-dividend date was Monday, October 21st. This represents a $2.66 annualized dividend and a dividend yield of 4.79%. CVS Health’s dividend payout ratio is currently 67.51%.

Institutional Trading of CVS Health

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Pzena Investment Management LLC increased its holdings in shares of CVS Health by 132.9% in the second quarter. Pzena Investment Management LLC now owns 12,936,388 shares of the pharmacy operator’s stock valued at $764,023,000 after buying an additional 7,382,931 shares in the last quarter. Capital International Investors raised its position in shares of CVS Health by 12.5% during the first quarter. Capital International Investors now owns 37,917,923 shares of the pharmacy operator’s stock worth $3,024,334,000 after purchasing an additional 4,226,225 shares during the period. Capital World Investors lifted its holdings in shares of CVS Health by 8.0% during the first quarter. Capital World Investors now owns 43,776,874 shares of the pharmacy operator’s stock valued at $3,491,643,000 after purchasing an additional 3,232,172 shares during the last quarter. Pathway Financial Advisers LLC boosted its position in shares of CVS Health by 5,864.2% in the 3rd quarter. Pathway Financial Advisers LLC now owns 1,730,343 shares of the pharmacy operator’s stock valued at $108,804,000 after purchasing an additional 1,701,331 shares during the period. Finally, State of Michigan Retirement System raised its holdings in CVS Health by 402.5% during the 2nd quarter. State of Michigan Retirement System now owns 2,005,677 shares of the pharmacy operator’s stock worth $118,455,000 after buying an additional 1,606,500 shares during the period. 80.66% of the stock is owned by institutional investors and hedge funds.

About CVS Health

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.