In yesterday’s Wall Street session, CVS Health Corporation (NYSE:CVS) shares traded at $74.87, up 1.23% from the previous session.
As of this writing, 26 analysts cover CVS Health Corporation (NYSE:CVS). The consensus rating among analysts is ‘Overweight’. As we calculate the median target price by taking the range between a high of $110.00 and a low of $76.00, we find $90.45. Given the previous closing price of $73.96, this indicates a potential upside of 22.3 percent. CVS stock price is now 4.66% away from the 50-day moving average and -8.40% away from the 200-day moving average. The market capitalization of the company currently stands at $94.99B.
There are 8 analysts who have given it a hold rating, whereas 16 have given it a buy rating. Brokers who have rated the stock have averaged $92.20 as their price target over the next twelve months.
With the price target of $85, Piper Sandler recently initiated with Overweight rating for CVS Health Corporation (NYSE: CVS).
In other news, Clark James David, SVP, Cont & Chief Acct Officer sold 25,759 shares of the company’s stock on Aug 03. The stock was sold for $1,930,004 at an average price of $74.92. Upon completion of the transaction, the SVP, Cont & Chief Acct Officer now directly owns 4,698 shares in the company, valued at $0.35 million. An SEC document containing details of the transaction can be found on the SEC’s website. On May 03, President and CEO Lynch Karen S bought 14,000 shares of the business’s stock. A total of $976,567 was incurred on buying the stock at an average price of $69.75. This leaves the insider owning 431,392 shares of the company worth $32.3 million. Insiders disposed of 650,488 shares of company stock worth roughly $48.7 million over the past 1 year. A total of 0.10% of the company’s stock is owned by insiders.
There have been several recent changes in the stakes of large investors in CVS stock. A new stake in CVS Health Corporation shares was purchased by CAPITAL RESEARCH GLOBAL INVESTORS during the first quarter worth $422,083,000. CAPITAL FUND MANAGEMENT S.A. invested $52,140,000 in shares of CVS during the first quarter. In the first quarter, AUSTRALIANSUPER PTY LTD acquired a new stake in CVS Health Corporation valued at approximately $47,346,000. PORTSIDE WEALTH GROUP, LLC acquired a new stake in CVS for approximately $45,023,000. QUADRATURE CAPITAL LTD purchased a new stake in CVS valued at around $18,440,000 in the second quarter. In total, there are 2,852 active investors with 80.70% ownership of the company’s stock.
Friday morning saw CVS Health Corporation (NYSE: CVS) opened at $73.76. During the past 12 months, CVS Health Corporation has had a low of $66.34 and a high of $107.26. As of last week, the company has a debt-to-equity ratio of 0.88, a current ratio of 0.90, and a quick ratio of 0.60. According to the stock market information, the enterprise value for the company is $161.41B, which is based on a 32.87 price-to-earnings ratio, a 7.49 price-to-earnings-growth ratio, and a beta of 0.59. The fifty day moving average price for CVS is $71.67 and a two-hundred day moving average price translates $81.63 for the stock.
The latest earnings results from CVS Health Corporation (NYSE: CVS) was released for Jun, 2023. According to the Healthcare Plans Company, earnings per share came in at $2.21, beating analysts’ expectations of $2.11 by 0.1. This compares to $2.30 EPS in the same period last year. The net profit margin was 0.90% and return on equity was 4.10% for CVS. The company reported revenue of $88.92 billion for the quarter, compared to $80.64 billion a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue rose 10.27 percent. For the current quarter, analysts expect CVS to generate $88.23B in revenue.
Moreover, the firm recently paid out its quarterly dividend on 08/01/2023. Investors who held shares on 07/21/2023 were paid a $0.605 dividend. On an annualized basis, this represents a $2.42 dividend and a 3.23% percent yield. There was an ex-dividend date of 07/20/2023 for this dividend. In terms of dividend payout ratio, CVS is presently at 109.50%.
CVS Health Corporation(CVS) Company Profile
CVS Health Corporation provides health services in the United States. It operates through Health Care Benefits, Pharmacy Services, and Retail/LTC segments. The Health Care Benefits segment offers traditional, voluntary, and consumer-directed health insurance products and related services. It serves employer groups, individuals, college students, part-time and hourly workers, health plans, health care providers, governmental units, government-sponsored plans, labor groups, and expatriates. The Pharmacy Services segment offers pharmacy benefit management solutions, including plan design and administration, formulary management, retail pharmacy network management, mail order pharmacy, specialty pharmacy and infusion, clinical, and disease and medical spend management services. It serves employers, insurance companies, unions, government employee groups, health plans, prescription drug plans, Medicaid managed care plans, plans offered on public health insurance and private health insurance exchanges, other sponsors of health benefit plans, and individuals. This segment operates retail specialty pharmacy stores; and specialty mail-order, mail-order dispensing, and compounding pharmacies, as well as branches for infusion and enteral nutrition services. The Retail/LTC segment sells prescription and over-the-counter drugs, consumer health and beauty products, and personal care products; and provides health care services through its MinuteClinic walk-in medical clinics. This segment also distributes prescription drugs; and provides related pharmacy consulting and other ancillary services to care facilities and other care settings. The company was formerly known as CVS Caremark Corporation and changed its name to CVS Health Corporation in September 2014. CVS Health Corporation was incorporated in 1996 and is headquartered in Woonsocket, Rhode Island.
