Truist Financial Issues Pessimistic Forecast for CVS Health (NYSE:CVS) Stock Price

CVS Health (NYSE:CVS) had its price target decreased by Truist Financial from $67.00 to $60.00 in a report released on Monday,Benzinga reports. Truist Financial currently has a buy rating on the pharmacy operator’s stock.

A number of other equities research analysts also recently weighed in on CVS. UBS Group lifted their target price on CVS Health from $60.00 to $62.00 and gave the stock a “neutral” rating in a report on Thursday, November 7th. Wells Fargo & Company raised shares of CVS Health from an “equal weight” rating to an “overweight” rating and increased their target price for the stock from $60.00 to $66.00 in a research note on Monday, November 18th. Cantor Fitzgerald reaffirmed a “neutral” rating and issued a $62.00 price target on shares of CVS Health in a research note on Tuesday, October 1st. Royal Bank of Canada cut their price objective on shares of CVS Health from $68.00 to $58.00 and set an “outperform” rating on the stock in a research report on Friday, November 15th. Finally, Evercore ISI boosted their target price on CVS Health from $62.00 to $75.00 and gave the company an “outperform” rating in a research report on Tuesday, October 8th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and thirteen have issued a buy rating to the stock. According to data from MarketBeat, CVS Health presently has a consensus rating of “Moderate Buy” and an average target price of $68.71.

CVS Health Stock Performance

Shares of CVS stock opened at $45.92 on Monday. The stock has a market capitalization of $57.79 billion, a PE ratio of 11.65, a PEG ratio of 0.85 and a beta of 0.59. CVS Health has a one year low of $43.56 and a one year high of $81.03. The company has a debt-to-equity ratio of 0.80, a current ratio of 0.80 and a quick ratio of 0.59. The business’s 50 day simple moving average is $52.19 and its 200 day simple moving average is $56.75.

CVS Health (NYSE:CVS) last posted its quarterly earnings data on Wednesday, November 6th. The pharmacy operator reported $1.09 earnings per share for the quarter, topping the consensus estimate of $1.08 by $0.01. CVS Health had a net margin of 1.36% and a return on equity of 10.72%. The company had revenue of $95.43 billion during the quarter, compared to analysts’ expectations of $92.72 billion. During the same period in the prior year, the company posted $2.21 earnings per share. CVS Health’s revenue for the quarter was up 6.3% compared to the same quarter last year. As a group, research analysts forecast that CVS Health will post 5.32 earnings per share for the current year.

CVS Health Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, February 3rd. Investors of record on Thursday, January 23rd will be given a dividend of $0.665 per share. This represents a $2.66 dividend on an annualized basis and a dividend yield of 5.79%. The ex-dividend date is Thursday, January 23rd. CVS Health’s payout ratio is currently 67.51%.

Institutional Investors Weigh In On CVS Health

A number of institutional investors have recently added to or reduced their stakes in CVS. Hotchkis & Wiley Capital Management LLC boosted its stake in shares of CVS Health by 34.8% in the 3rd quarter. Hotchkis & Wiley Capital Management LLC now owns 11,897,034 shares of the pharmacy operator’s stock worth $748,085,000 after buying an additional 3,071,613 shares during the last quarter. State Street Corp grew its stake in CVS Health by 3.6% in the 3rd quarter. State Street Corp now owns 56,527,909 shares of the pharmacy operator’s stock valued at $3,554,475,000 after purchasing an additional 1,989,066 shares during the period. TOMS Capital Investment Management LP purchased a new stake in shares of CVS Health during the 3rd quarter valued at $121,987,000. Pathway Financial Advisers LLC raised its stake in shares of CVS Health by 5,864.2% during the 3rd quarter. Pathway Financial Advisers LLC now owns 1,730,343 shares of the pharmacy operator’s stock worth $108,804,000 after purchasing an additional 1,701,331 shares during the period. Finally, AQR Capital Management LLC grew its position in CVS Health by 33.5% during the second quarter. AQR Capital Management LLC now owns 5,289,788 shares of the pharmacy operator’s stock valued at $310,722,000 after buying an additional 1,327,855 shares during the period. 80.66% of the stock is owned by institutional investors.

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.