Deutsche Bank Aktiengesellschaft initiated coverage on shares of CVS Health (NYSE:CVS – Get Rating) in a report released on Monday morning, The Fly reports. The firm issued a hold rating on the pharmacy operator’s stock.
Several other research firms also recently issued reports on CVS. Morgan Stanley upped their price objective on CVS Health from $119.00 to $120.00 and gave the company an overweight rating in a research note on Friday, January 13th. Raymond James lowered their price target on shares of CVS Health from $115.00 to $110.00 and set an outperform rating on the stock in a report on Thursday, February 9th. Jefferies Financial Group increased their target price on CVS Health from $130.00 to $143.00 and gave the stock a buy rating in a research report on Thursday, February 9th. StockNews.com initiated coverage on shares of CVS Health in a report on Thursday, March 16th. They set a buy rating on the stock. Finally, Royal Bank of Canada reaffirmed an outperform rating and issued a $115.00 target price on shares of CVS Health in a research note on Thursday, February 9th. Three equity research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of Moderate Buy and an average target price of $118.24.
CVS Health Stock Performance
CVS opened at $76.04 on Monday. The company has a debt-to-equity ratio of 0.71, a quick ratio of 0.67 and a current ratio of 0.94. The business’s 50-day simple moving average is $81.15 and its 200-day simple moving average is $90.06. The firm has a market capitalization of $97.64 billion, a PE ratio of 24.37, a PEG ratio of 1.20 and a beta of 0.61. CVS Health has a 52-week low of $72.11 and a 52-week high of $107.73.
CVS Health (NYSE:CVS – Get Rating) last released its quarterly earnings data on Wednesday, February 8th. The pharmacy operator reported $1.99 EPS for the quarter, beating the consensus estimate of $1.92 by $0.07. The company had revenue of $83.85 billion during the quarter, compared to the consensus estimate of $76.37 billion. CVS Health had a return on equity of 15.75% and a net margin of 1.29%. The firm’s revenue for the quarter was up 9.5% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.98 EPS. As a group, sell-side analysts expect that CVS Health will post 8.83 earnings per share for the current fiscal year.
CVS Health Announces Dividends
The firm also recently declared a quarterly dividend, which will be paid on Monday, May 1st. Shareholders of record on Friday, April 21st will be paid a $0.605 dividend. The ex-dividend date is Thursday, April 20th. This represents a $2.42 dividend on an annualized basis and a yield of 3.18%. CVS Health’s payout ratio is presently 77.56%.
Institutional Investors Weigh In On CVS Health
Several institutional investors and hedge funds have recently modified their holdings of CVS. Live Oak Investment Partners purchased a new position in shares of CVS Health in the 4th quarter worth $25,000. SRS Capital Advisors Inc. boosted its holdings in shares of CVS Health by 105.8% in the 3rd quarter. SRS Capital Advisors Inc. now owns 284 shares of the pharmacy operator’s stock worth $27,000 after purchasing an additional 146 shares during the period. VitalStone Financial LLC bought a new position in shares of CVS Health during the 4th quarter valued at approximately $28,000. Godsey & Gibb Inc. purchased a new stake in CVS Health during the 4th quarter valued at $28,000. Finally, Karp Capital Management Corp purchased a new position in CVS Health during the third quarter worth $30,000. Institutional investors own 77.29% of the company’s stock.
About CVS Health
CVS Health Corp. is a health solutions company, which engages in the provision of healthcare services. It operates through the following segments: Pharmacy Services, Retail or Long-Term Care, Health Care Benefits, and Corporate and Other. The Pharmacy Services segment focuses on the pharmacy benefit management solutions.
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