CVS Health (NYSE:CVS) Trading 6.3% Higher – Here’s Why

CVS Health Co. (NYSE:CVS) was up 6.3% during mid-day trading on Monday . The stock traded as high as $51.05 and last traded at $51.03. Approximately 8,925,225 shares traded hands during mid-day trading, a decline of 29% from the average daily volume of 12,486,032 shares. The stock had previously closed at $48.01.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in 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 research report on Friday, November 15th. Cantor Fitzgerald restated a “neutral” rating and issued a $62.00 price target on shares of CVS Health in a research note on Tuesday, October 1st. Mizuho dropped their price objective on CVS Health from $73.00 to $66.00 and set an “outperform” rating on the stock in a research report on Thursday, October 24th. Evercore ISI boosted their target price on CVS Health from $62.00 to $75.00 and gave the stock an “outperform” rating in a research report on Tuesday, October 8th. Finally, Wells Fargo & Company raised shares of CVS Health from an “equal weight” rating to an “overweight” rating and raised their price target for the company from $60.00 to $66.00 in a report on Monday, November 18th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and thirteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $68.71.

CVS Health Stock Up 7.4 %

The firm has a market capitalization of $64.86 billion, a P/E ratio of 13.08, a P/E/G 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 company has a 50 day simple moving average of $51.82 and a two-hundred day simple moving average of $56.55.

CVS Health (NYSE:CVS) last announced its quarterly earnings results on Wednesday, November 6th. The pharmacy operator reported $1.09 EPS for the quarter, topping the consensus estimate of $1.08 by $0.01. CVS Health had a net margin of 1.36% and a return on equity of 10.72%. The business had revenue of $95.43 billion for the quarter, compared to analysts’ expectations of $92.72 billion. During the same quarter in the previous year, the company earned $2.21 EPS. The business’s quarterly revenue was up 6.3% compared to the same quarter last year. On average, equities analysts predict that CVS Health Co. will post 5.32 EPS for the current fiscal year.

CVS Health Announces Dividend

The business 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 5.16%. CVS Health’s dividend payout ratio is currently 67.51%.

Institutional Trading of CVS Health

A number of institutional investors have recently bought and sold shares of CVS. MidAtlantic Capital Management Inc. bought a new stake in CVS Health in the third quarter worth about $25,000. Ridgewood Investments LLC grew its position in CVS Health by 255.7% in the 4th quarter. Ridgewood Investments LLC now owns 626 shares of the pharmacy operator’s stock valued at $28,000 after acquiring an additional 450 shares during the last quarter. Livelsberger Financial Advisory bought a new stake in shares of CVS Health during the third quarter worth $31,000. Legacy Investment Solutions LLC bought a new position in shares of CVS Health in the third quarter worth about $31,000. Finally, Reston Wealth Management LLC bought a new stake in CVS Health during the 3rd quarter valued at about $32,000. 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.