CVS Health (NYSE:CVS) Cut to “Buy” at Wall Street Zen

Wall Street Zen downgraded shares of CVS Health (NYSE:CVS) from a strong-buy rating to a buy rating in a report published on Saturday,Wall Street Zen reports.

Several other analysts also recently weighed in on the company. Piper Sandler set a $112.00 price objective on CVS Health in a research report on Wednesday, September 9th. Cantor Fitzgerald reiterated an “overweight” rating on shares of CVS Health in a research report on Friday. JPMorgan Chase & Co. increased their target price on shares of CVS Health from $111.00 to $118.00 and gave the stock an “overweight” rating in a report on Wednesday, August 12th. Royal Bank Of Canada raised their price target on shares of CVS Health from $107.00 to $113.00 and gave the company an “outperform” rating in a research note on Thursday, July 9th. Finally, Wells Fargo & Company lifted their price target on shares of CVS Health from $103.00 to $123.00 and gave the company an “overweight” rating in a report on Monday, July 13th. Twenty-two analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $107.24.

CVS Health Trading Up 0.9%

CVS opened at $95.51 on Friday. The stock has a market capitalization of $122.15 billion, a price-to-earnings ratio of 25.27, a P/E/G ratio of 0.92 and a beta of 0.59. The company has a quick ratio of 0.66, a current ratio of 0.87 and a debt-to-equity ratio of 0.74. CVS Health has a twelve month low of $69.51 and a twelve month high of $110.68. The company has a 50-day simple moving average of $99.79 and a 200 day simple moving average of $91.01.

CVS Health (NYSE:CVS) last released its earnings results on Wednesday, August 5th. The pharmacy operator reported $2.58 EPS for the quarter, beating the consensus estimate of $1.87 by $0.71. CVS Health had a net margin of 1.18% and a return on equity of 13.12%. The firm had revenue of $106.10 billion for the quarter, compared to analyst estimates of $100.03 billion. During the same period last year, the firm earned $1.81 EPS. The business’s quarterly revenue was up 7.3% compared to the same quarter last year. CVS Health has set its FY 2026 guidance at 7.900-8.100 EPS. Analysts predict that CVS Health will post 8.02 EPS for the current fiscal year.

CVS Health Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, August 3rd. Shareholders of record on Thursday, July 23rd were given a $0.665 dividend. The ex-dividend date was Thursday, July 23rd. This represents a $2.66 annualized dividend and a yield of 2.8%. CVS Health’s dividend payout ratio (DPR) is currently 70.37%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the company. The Manufacturers Life Insurance Company increased its position in CVS Health by 5.8% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 1,287,441 shares of the pharmacy operator’s stock valued at $133,186,000 after acquiring an additional 70,197 shares during the period. Tortoise Investment Management LLC acquired a new position in shares of CVS Health during the second quarter worth $254,000. Sequoia Financial Advisors LLC grew its stake in shares of CVS Health by 3.0% in the second quarter. Sequoia Financial Advisors LLC now owns 55,759 shares of the pharmacy operator’s stock worth $5,768,000 after purchasing an additional 1,646 shares during the last quarter. Tidal Investments LLC grew its stake in shares of CVS Health by 14.6% in the second quarter. Tidal Investments LLC now owns 235,491 shares of the pharmacy operator’s stock worth $24,362,000 after purchasing an additional 30,024 shares during the last quarter. Finally, MCF Advisors LLC increased its holdings in CVS Health by 5.3% in the second quarter. MCF Advisors LLC now owns 8,375 shares of the pharmacy operator’s stock valued at $866,000 after purchasing an additional 420 shares during the period. Institutional investors and hedge funds own 80.66% of the company’s stock.

CVS Health Company Profile

CVS Health Corporation is an American health care company headquartered in Woonsocket, Rhode Island. Founded in 1963 as Consumer Value Stores, the company has expanded from a chain of retail pharmacies into an integrated health care organization serving consumers, employers, health plans, government programs and health care providers.

CVS Health operates through several major businesses. Its Health Care Benefits segment, anchored by Aetna, provides health insurance products and related services for employers, individuals, Medicare and Medicaid members.