The stock of CVS Health Corp (NYSE:CVS) last traded at $66.29, down -2.49% from the previous session.
Data from the available sources indicates that CVS Health Corp (NYSE:CVS) is covered by 26 analysts. 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 $89.00. Given the previous closing price of $67.98, this indicates a potential upside of 30.92 percent. CVS stock price is now -4.12% away from the 50-day moving average and -10.77% away from the 200-day moving average. The market capitalization of the company currently stands at $85.14B.
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In total, 6 analysts have assigned it a hold rating, and 19 have given it a buy rating. Brokers who have rated the stock have averaged $90.49 as their price target over the next twelve months.
With the price target enhanced from $81 to $83, Evercore ISI Upgraded its rating from In-line to Outperform for CVS Health Corp (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 $0.31 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 $28.6 million. Insiders disposed of 692,808 shares of company stock worth roughly $45.93 million over the past 1 year. A total of 0.27% 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 Corp shares was purchased by CAPITAL RESEARCH GLOBAL INVESTORS during the first quarter worth $373,713,000. IA GLOBAL ASSET MANAGEMENT INC. invested $39,978,000 in shares of CVS during the first quarter. In the first quarter, KEPOS CAPITAL LP acquired a new stake in CVS Health Corp valued at approximately $13,258,000. UNISUPER MANAGEMENT PTY LTD acquired a new stake in CVS for approximately $9,597,000. TWO SIGMA SECURITIES, LLC purchased a new stake in CVS valued at around $9,221,000 in the second quarter. In total, there are 2,852 active investors with 78.62% ownership of the company’s stock.
With an opening price of $67.84 on Friday morning, CVS Health Corp (NYSE: CVS) set off the trading day. During the past 12 months, CVS Health Corp has had a low of $64.62 and a high of $104.83. As of last week, the company has a debt-to-equity ratio of 1.13, a current ratio of 0.86, and a quick ratio of 0.64. According to the stock market information, the enterprise value for the company is $150.39B, which is based on a 29.08 price-to-earnings ratio, a 7.13 price-to-earnings-growth ratio, and a beta of 0.56. The fifty day moving average price for CVS is $69.13 and a two-hundred day moving average price translates $74.18 for the stock.
The latest earnings results from CVS Health Corp (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 0.86% and return on equity was 3.95% 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 $88.25B in revenue.
Moreover, the firm recently paid out its quarterly dividend on 11/01/2023. Investors who held shares on 10/20/2023 were paid a $0.605 dividend. On an annualized basis, this represents a $2.37 dividend and a 3.58% percent yield. There was an ex-dividend date of 10/19/2023 for this dividend. In terms of dividend payout ratio, CVS is presently at 71.91%.
