CVS Health (NYSE:CVS) Trading 1.5% Higher – Should You Buy?

Shares of CVS Health Co. (NYSE:CVS) were up 1.5% during trading on Monday . The stock traded as high as $52.89 and last traded at $52.72. Approximately 13,362,187 shares traded hands during trading, a decline of 2% from the average daily volume of 13,670,579 shares. The stock had previously closed at $51.96.

Wall Street Analysts Forecast Growth

CVS has been the subject of several research reports. StockNews.com cut shares of CVS Health from a “hold” rating to a “sell” rating in a research report on Thursday, November 14th. Cantor Fitzgerald reaffirmed a “neutral” rating and issued a $62.00 target price on shares of CVS Health in a research note on Tuesday, October 1st. Barclays cut their target price on CVS Health from $75.00 to $71.00 and set an “overweight” rating on the stock in a research note on Thursday, November 7th. Truist Financial cut their price objective on CVS Health from $67.00 to $60.00 and set a “buy” rating for the company in a report on Monday, January 6th. Finally, Piper Sandler cut their price objective on CVS Health from $72.00 to $64.00 and set an “overweight” rating for the company in a research report on Monday, November 25th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and thirteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $68.71.

CVS Health Price Performance

The business has a 50-day moving average of $51.34 and a two-hundred day moving average of $56.32. 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 firm has a market cap of $66.35 billion, a P/E ratio of 13.38, a price-to-earnings-growth ratio of 0.72 and a beta of 0.59.

CVS Health (NYSE:CVS) last issued its quarterly earnings results on Wednesday, November 6th. The pharmacy operator reported $1.09 earnings per share for the quarter, beating the consensus estimate of $1.08 by $0.01. The company had revenue of $95.43 billion during the quarter, compared to analysts’ expectations of $92.72 billion. CVS Health had a return on equity of 10.72% and a net margin of 1.36%. The business’s quarterly revenue was up 6.3% on a year-over-year basis. During the same quarter in the prior year, the firm posted $2.21 earnings per share. On average, sell-side analysts anticipate that CVS Health Co. will post 5.22 earnings per share for the current fiscal year.

CVS Health Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, February 3rd. Investors of record on Thursday, January 23rd will be given a $0.665 dividend. The ex-dividend date is Thursday, January 23rd. This represents a $2.66 annualized dividend and a yield of 5.05%. CVS Health’s payout ratio is 67.51%.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the stock. Secure Asset Management LLC boosted its stake in CVS Health by 13.8% in the fourth quarter. Secure Asset Management LLC now owns 33,271 shares of the pharmacy operator’s stock valued at $1,494,000 after acquiring an additional 4,024 shares during the last quarter. Donoghue Forlines LLC purchased a new stake in CVS Health during the fourth quarter valued at about $1,400,000. SG Americas Securities LLC increased its stake in shares of CVS Health by 47.2% in the fourth quarter. SG Americas Securities LLC now owns 28,801 shares of the pharmacy operator’s stock worth $1,293,000 after purchasing an additional 9,234 shares in the last quarter. Perfromance Wealth Partners LLC bought a new stake in CVS Health during the 4th quarter valued at $475,000. Finally, Fort Washington Investment Advisors Inc. OH boosted its holdings in shares of CVS Health by 17.6% in the fourth quarter. Fort Washington Investment Advisors Inc. OH now owns 1,089,654 shares of the pharmacy operator’s stock worth $48,915,000 after acquiring an additional 163,148 shares during the period. Hedge funds and other institutional investors own 80.66% of the company’s stock.

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.