Truist Financial Has Lowered Expectations for CVS Health (NYSE:CVS) Stock Price

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

A number of other equities research analysts have also recently commented on the stock. Royal Bank of Canada reduced their price target on shares of CVS Health from $68.00 to $58.00 and set an “outperform” rating for the company in a report on Friday, November 15th. StockNews.com lowered CVS Health from a “hold” rating to a “sell” rating in a research report on Thursday, November 14th. UBS Group increased their price target on CVS Health from $60.00 to $62.00 and gave the stock a “neutral” rating in a report on Thursday, November 7th. Piper Sandler decreased their price objective on CVS Health from $72.00 to $64.00 and set an “overweight” rating for the company in a report on Monday, November 25th. Finally, Mizuho reduced their price target on shares of CVS Health from $73.00 to $66.00 and set an “outperform” rating for the company in a research report on Thursday, October 24th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and thirteen have given a buy rating to the company. According to data from MarketBeat.com, CVS Health currently has a consensus rating of “Moderate Buy” and an average target price of $68.71.

CVS Health Stock Performance

CVS stock opened at $45.82 on Monday. The firm has a market cap of $57.66 billion, a PE ratio of 11.63, a price-to-earnings-growth ratio of 0.85 and a beta of 0.59. The company has a current ratio of 0.80, a quick ratio of 0.59 and a debt-to-equity ratio of 0.80. The stock has a 50-day moving average price of $52.63 and a 200-day moving average price of $56.97. CVS Health has a 1-year low of $43.56 and a 1-year high of $83.25.

CVS Health (NYSE:CVS) last issued its quarterly earnings results on Wednesday, November 6th. The pharmacy operator reported $1.09 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.08 by $0.01. The firm had revenue of $95.43 billion for the quarter, compared to analyst estimates of $92.72 billion. CVS Health had a return on equity of 10.72% and a net margin of 1.36%. The company’s revenue was up 6.3% compared to the same quarter last year. During the same period in the previous year, the firm earned $2.21 earnings per share. As a group, equities research analysts expect that CVS Health will post 5.32 earnings per share for the current year.

CVS Health Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, February 3rd. Stockholders of record on Thursday, January 23rd will be issued a $0.665 dividend. This represents a $2.66 annualized dividend and a dividend yield of 5.81%. The ex-dividend date is Thursday, January 23rd. CVS Health’s dividend payout ratio is presently 67.51%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. Central Pacific Bank Trust Division raised its stake in shares of CVS Health by 3.0% during the 4th quarter. Central Pacific Bank Trust Division now owns 34,257 shares of the pharmacy operator’s stock worth $1,538,000 after purchasing an additional 989 shares during the period. Principal Financial Group Inc. raised its position in CVS Health by 4.8% in the third quarter. Principal Financial Group Inc. now owns 1,434,476 shares of the pharmacy operator’s stock worth $90,200,000 after acquiring an additional 66,244 shares during the period. Old North State Trust LLC purchased a new position in CVS Health in the third quarter valued at about $200,000. Tidal Investments LLC grew its position in shares of CVS Health by 52.2% during the 3rd quarter. Tidal Investments LLC now owns 112,010 shares of the pharmacy operator’s stock valued at $7,043,000 after acquiring an additional 38,408 shares during the period. Finally, Wilmington Savings Fund Society FSB bought a new stake in shares of CVS Health in the 3rd quarter worth approximately $2,071,000. Hedge funds and other institutional investors own 80.66% of the company’s stock.

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.