Cantor Fitzgerald Reiterates “Overweight” Rating for CVS Health (NYSE:CVS)

Cantor Fitzgerald restated their overweight rating on shares of CVS Health (NYSE:CVS) in a report published on Wednesday, Benzinga reports. The brokerage currently has a $87.00 price objective on the pharmacy operator’s stock.

A number of other analysts have also commented on CVS. Piper Sandler boosted their price objective on CVS Health from $93.00 to $94.00 and gave the stock an overweight rating in a report on Friday, March 15th. Barclays assumed coverage on CVS Health in a report on Wednesday, March 6th. They set an equal weight rating and a $78.00 price objective for the company. HSBC assumed coverage on CVS Health in a report on Friday, December 22nd. They issued a buy rating and a $94.00 target price for the company. StockNews.com lowered CVS Health from a buy rating to a hold rating in a report on Thursday, February 15th. Finally, Leerink Partnrs reaffirmed an outperform rating on shares of CVS Health in a report on Monday, February 26th. Four investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to MarketBeat, the company currently has an average rating of Moderate Buy and an average target price of $89.44.

CVS Health Stock Down 3.1 %

CVS stock opened at $71.12 on Wednesday. The stock’s 50 day simple moving average is $76.02 and its 200 day simple moving average is $73.79. CVS Health has a fifty-two week low of $64.41 and a fifty-two week high of $83.25. The company has a debt-to-equity ratio of 0.77, a quick ratio of 0.63 and a current ratio of 0.86. The company has a market cap of $89.64 billion, a P/E ratio of 11.01, a price-to-earnings-growth ratio of 0.98 and a beta of 0.52.

CVS Health (NYSE:CVS) last issued its quarterly earnings data on Wednesday, February 7th. The pharmacy operator reported $2.12 EPS for the quarter, topping analysts’ consensus estimates of $2.01 by $0.11. The firm had revenue of $93.81 billion during the quarter, compared to analyst estimates of $90.58 billion. CVS Health had a return on equity of 15.25% and a net margin of 2.33%. The company’s revenue for the quarter was up 11.9% on a year-over-year basis. During the same period in the previous year, the company posted $1.99 EPS. On average, research analysts expect that CVS Health will post 8.33 earnings per share for the current fiscal year.

CVS Health Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 1st. Investors of record on Monday, April 22nd will be paid a $0.665 dividend. The ex-dividend date of this dividend is Friday, April 19th. This represents a $2.66 annualized dividend and a yield of 3.74%. CVS Health’s payout ratio is 41.18%.

Insider Activity at CVS Health

In other CVS Health news, EVP Prem S. Shah sold 29,473 shares of the stock in a transaction on Friday, February 16th. The stock was sold at an average price of $76.95, for a total transaction of $2,267,947.35. Following the sale, the executive vice president now owns 39,765 shares in the company, valued at $3,059,916.75. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.25% of the stock is owned by company insiders.

Institutional Investors Weigh In On CVS Health

Institutional investors have recently made changes to their positions in the stock. Live Oak Investment Partners purchased a new stake in shares of CVS Health during the fourth quarter worth $25,000. Atticus Wealth Management LLC raised its position in shares of CVS Health by 149.0% in the fourth quarter. Atticus Wealth Management LLC now owns 366 shares of the pharmacy operator’s stock worth $29,000 after buying an additional 219 shares in the last quarter. USA Financial Formulas raised its position in shares of CVS Health by 573.2% in the fourth quarter. USA Financial Formulas now owns 377 shares of the pharmacy operator’s stock worth $30,000 after buying an additional 321 shares in the last quarter. Cornerstone Planning Group LLC raised its position in shares of CVS Health by 111.5% in the third quarter. Cornerstone Planning Group LLC now owns 461 shares of the pharmacy operator’s stock worth $32,000 after buying an additional 243 shares in the last quarter. Finally, Ables Iannone Moore & Associates Inc. purchased a new stake in shares of CVS Health in the fourth quarter worth $32,000. Hedge funds and other institutional investors own 80.66% of the company’s stock.

About CVS Health

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.