CVS Health (NYSE:CVS) Upgraded by Wells Fargo & Company to Overweight Rating

Wells Fargo & Company upgraded shares of CVS Health (NYSE:CVS) from an equal weight rating to an overweight rating in a research note issued to investors on Monday morning, MarketBeat.com reports. The firm currently has $66.00 price objective on the pharmacy operator’s stock, up from their previous price objective of $60.00.

A number of other research analysts have also issued reports on the stock. Evercore ISI raised their target price on shares of CVS Health from $62.00 to $75.00 and gave the company an “outperform” rating in a research note on Tuesday, October 8th. Truist Financial raised their price objective on shares of CVS Health from $66.00 to $76.00 and gave the stock a “buy” rating in a report on Friday, October 11th. Barclays cut their price target on shares of CVS Health from $75.00 to $71.00 and set an “overweight” rating for the company in a report on Thursday, November 7th. UBS Group boosted their target price on shares of CVS Health from $60.00 to $62.00 and gave the stock a “neutral” rating in a research note on Thursday, November 7th. Finally, Mizuho reduced their target price on shares of CVS Health from $73.00 to $66.00 and set an “outperform” rating on the stock in a research report on Thursday, October 24th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and thirteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, CVS Health presently has a consensus rating of “Moderate Buy” and an average target price of $72.78.

CVS Health Trading Up 5.4 %

CVS Health stock opened at $56.08 on Monday. The firm has a 50 day simple moving average of $59.19 and a 200-day simple moving average of $58.60. 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 stock has a market capitalization of $70.57 billion, a PE ratio of 14.23, a price-to-earnings-growth ratio of 0.92 and a beta of 0.55. CVS Health has a 12-month low of $52.71 and a 12-month high of $83.25.

CVS Health (NYSE:CVS) last released its earnings results on Wednesday, November 6th. The pharmacy operator reported $1.09 EPS for the quarter, beating the consensus estimate of $1.08 by $0.01. The business had revenue of $95.43 billion during the quarter, compared to analyst estimates of $92.72 billion. CVS Health had a net margin of 1.36% and a return on equity of 10.72%. The business’s quarterly revenue was up 6.3% on a year-over-year basis. During the same period in the prior year, the business earned $2.21 earnings per share. As a group, equities research analysts expect that CVS Health will post 5.48 EPS for the current fiscal year.

CVS Health Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, November 1st. Stockholders of record on Monday, October 21st were issued a dividend of $0.665 per share. The ex-dividend date was Monday, October 21st. This represents a $2.66 annualized dividend and a dividend yield of 4.74%. CVS Health’s payout ratio is presently 67.51%.

Institutional Investors Weigh In On CVS Health

Several large investors have recently bought and sold shares of CVS. MidAtlantic Capital Management Inc. bought a new position in CVS Health in the 3rd quarter worth $25,000. Livelsberger Financial Advisory purchased a new position in shares of CVS Health during the third quarter valued at about $31,000. Legacy Investment Solutions LLC purchased a new position in shares of CVS Health during the third quarter valued at about $31,000. Reston Wealth Management LLC purchased a new position in CVS Health in the third quarter worth about $32,000. Finally, First Community Trust NA grew its position in CVS Health by 116.2% in the second quarter. First Community Trust NA now owns 562 shares of the pharmacy operator’s stock worth $33,000 after acquiring an additional 302 shares in the last quarter. 80.66% of the stock is currently 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.