CVS Health (NYSE:CVS) Given New $64.00 Price Target at Piper Sandler

CVS Health (NYSE:CVS) had its price target trimmed by Piper Sandler from $72.00 to $64.00 in a research note issued to investors on Monday morning,Benzinga reports. They currently have an overweight rating on the pharmacy operator’s stock.

CVS has been the topic of several other reports. Royal Bank of Canada cut their target price on shares of CVS Health from $68.00 to $58.00 and set an “outperform” rating on the stock in a report on Friday, November 15th. Evercore ISI lifted their target price on CVS Health from $62.00 to $75.00 and gave the stock an “outperform” rating in a report on Tuesday, October 8th. TD Cowen upgraded CVS Health from a “hold” rating to a “buy” rating and increased their price target for the stock from $59.00 to $85.00 in a report on Friday, October 4th. Mizuho cut their price objective on CVS Health from $73.00 to $66.00 and set an “outperform” rating on the stock in a report on Thursday, October 24th. Finally, StockNews.com cut CVS Health from a “hold” rating to a “sell” rating in a research note on Thursday, November 14th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and thirteen have issued a buy rating to the stock. According to data from MarketBeat.com, CVS Health currently has a consensus rating of “Moderate Buy” and a consensus price target of $70.33.

CVS Health Stock Up 3.6 %

NYSE:CVS opened at $60.10 on Monday. The stock’s fifty day simple moving average is $59.25 and its 200-day simple moving average is $58.67. The firm has a market capitalization of $75.63 billion, a P/E ratio of 15.25, a P/E/G ratio of 0.98 and a beta of 0.55. The company has a quick ratio of 0.59, a current ratio of 0.80 and a debt-to-equity ratio of 0.80. CVS Health has a 12-month low of $52.71 and a 12-month high of $83.25.

CVS Health (NYSE:CVS) last posted its earnings results on Wednesday, November 6th. The pharmacy operator reported $1.09 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.08 by $0.01. The company had revenue of $95.43 billion during 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 for the quarter was up 6.3% compared to the same quarter last year. During the same period in the previous year, the company earned $2.21 EPS. Equities research analysts expect that CVS Health will post 5.43 earnings per share for the current year.

CVS Health Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, November 1st. Stockholders of record on Monday, October 21st were issued a $0.665 dividend. This represents a $2.66 annualized dividend and a dividend yield of 4.43%. The ex-dividend date of this dividend was Monday, October 21st. CVS Health’s payout ratio is 67.51%.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the stock. MidAtlantic Capital Management Inc. bought a new stake in shares of CVS Health during the 3rd quarter worth approximately $25,000. Livelsberger Financial Advisory acquired a new stake in CVS Health in the third quarter valued at $31,000. Legacy Investment Solutions LLC bought a new position in shares of CVS Health in the 3rd quarter valued at about $31,000. Reston Wealth Management LLC acquired a new position in shares of CVS Health during the 3rd quarter worth about $32,000. Finally, Kathleen S. Wright Associates Inc. bought a new stake in shares of CVS Health in the 3rd quarter valued at about $33,000. 80.66% of the stock is owned by institutional investors and hedge funds.

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.