CVS Health (NYSE:CVS) Upgraded to Overweight at Cantor Fitzgerald

Cantor Fitzgerald upgraded shares of CVS Health (NYSE:CVS) from a neutral rating to an overweight rating in a research report report published on Wednesday, MarketBeat reports.

Other analysts have also recently issued research reports about the stock. Royal Bank of Canada decreased their price target on shares of CVS Health from $68.00 to $58.00 and set an “outperform” rating on the stock in a research note on Friday, November 15th. Wells Fargo & Company upgraded shares of CVS Health from an “equal weight” rating to an “overweight” rating and upped their target price for the company from $60.00 to $66.00 in a research report on Monday, November 18th. Wolfe Research upped their target price on shares of CVS Health from 67.00 to 70.00 and gave the company an “overweight” rating in a research report on Tuesday. Barclays decreased their target price on shares of CVS Health from $75.00 to $71.00 and set an “overweight” rating on the stock in a research report on Thursday, November 7th. Finally, Truist Financial decreased their target price on shares of CVS Health from $67.00 to $60.00 and set a “buy” rating on the stock in a research report on Monday, January 6th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and sixteen have issued a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $67.78.

CVS Health Stock Up 15.0 %

Shares of CVS stock opened at $63.23 on Wednesday. The stock has a market cap of $79.57 billion, a P/E ratio of 16.05, a PEG ratio of 0.60 and a beta of 0.61. CVS Health has a 52 week low of $43.56 and a 52 week high of $80.75. The company has a quick ratio of 0.59, a current ratio of 0.80 and a debt-to-equity ratio of 0.80. The company’s fifty day simple moving average is $50.61 and its two-hundred day simple moving average is $55.92.

CVS Health (NYSE:CVS) last announced its quarterly earnings results on Wednesday, February 12th. The pharmacy operator reported $1.19 EPS for the quarter, topping the consensus estimate of $0.89 by $0.30. CVS Health had a net margin of 1.36% and a return on equity of 10.72%. Analysts predict that CVS Health will post 5.14 EPS for the current fiscal year.

CVS Health Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, February 3rd. Shareholders of record on Thursday, January 23rd were paid a $0.665 dividend. The ex-dividend date was Thursday, January 23rd. This represents a $2.66 dividend on an annualized basis and a yield of 4.21%. CVS Health’s dividend payout ratio is currently 67.51%.

Hedge Funds Weigh In On CVS Health

Hedge funds have recently added to or reduced their stakes in the stock. MidAtlantic Capital Management Inc. bought a new position in shares of CVS Health during the third quarter valued at approximately $25,000. Ridgewood Investments LLC boosted its stake in shares of CVS Health by 255.7% during the fourth quarter. Ridgewood Investments LLC now owns 626 shares of the pharmacy operator’s stock valued at $28,000 after purchasing an additional 450 shares in the last quarter. Stonebridge Financial Group LLC bought a new position in shares of CVS Health during the fourth quarter valued at approximately $28,000. Hopwood Financial Services Inc. bought a new position in shares of CVS Health during the fourth quarter valued at approximately $29,000. Finally, Livelsberger Financial Advisory bought a new position in shares of CVS Health during the third quarter valued at approximately $31,000. 80.66% of the stock is currently owned by institutional investors.

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.