CVS Health (NYSE:CVS) Shares Gap Up to $57.97

CVS Health Corp (NYSE:CVS)’s share price gapped up prior to trading on Friday . The stock had previously closed at $56.57, but opened at $57.97. CVS Health shares last traded at $57.45, with a volume of 364,278 shares trading hands.

CVS has been the topic of several research reports. ValuEngine lowered shares of Zumiez from a “hold” rating to a “sell” rating in a research note on Tuesday, July 2nd. Cantor Fitzgerald restated a “buy” rating and set a $60.00 price target on shares of Benefitfocus in a research note on Wednesday, May 1st. Oppenheimer increased their price target on shares of Check Point Software Technologies from $130.00 to $145.00 and gave the stock an “outperform” rating in a research note on Monday, April 15th. BMO Capital Markets set a $66.00 price target on shares of CyrusOne and gave the stock a “buy” rating in a research note on Friday, May 3rd. Finally, Standpoint Research upgraded shares of CVS Health from a “hold” rating to a “buy” rating in a research note on Wednesday, June 5th. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating, sixteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus target price of $76.48.

The company has a debt-to-equity ratio of 1.45, a current ratio of 0.95 and a quick ratio of 0.64. The firm has a fifty day simple moving average of $54.21. The stock has a market capitalization of $71.94 billion, a price-to-earnings ratio of 8.13, a P/E/G ratio of 1.12 and a beta of 0.88.

CVS Health (NYSE:CVS) last posted its quarterly earnings data on Wednesday, May 1st. The pharmacy operator reported $1.62 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.50 by $0.12. The business had revenue of $61.65 billion during the quarter, compared to the consensus estimate of $60.39 billion. CVS Health had a negative net margin of 0.08% and a positive return on equity of 16.80%. CVS Health’s quarterly revenue was up 34.8% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.48 EPS. On average, equities analysts expect that CVS Health Corp will post 6.86 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 2nd. Investors of record on Thursday, July 25th will be issued a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a dividend yield of 3.48%. The ex-dividend date is Wednesday, July 24th. CVS Health’s dividend payout ratio is currently 28.25%.

Institutional investors have recently modified their holdings of the business. Nordea Investment Management AB boosted its holdings in CVS Health by 2.8% in the 1st quarter. Nordea Investment Management AB now owns 12,426,745 shares of the pharmacy operator’s stock valued at $670,172,000 after purchasing an additional 340,315 shares during the period. Pinnacle Bank bought a new stake in CVS Health in the 4th quarter valued at $157,000. Texas Permanent School Fund boosted its holdings in CVS Health by 13.8% in the 4th quarter. Texas Permanent School Fund now owns 260,110 shares of the pharmacy operator’s stock valued at $17,042,000 after purchasing an additional 31,567 shares during the period. Contravisory Investment Management Inc. acquired a new position in shares of CVS Health in the 1st quarter valued at $3,040,000. Finally, NEXT Financial Group Inc raised its stake in shares of CVS Health by 228.5% in the 4th quarter. NEXT Financial Group Inc now owns 5,781 shares of the pharmacy operator’s stock valued at $379,000 after buying an additional 4,021 shares in the last quarter. 77.28% of the stock is owned by hedge funds and other institutional investors.

CVS Health Company Profile (NYSE:CVS)

CVS Health Corporation provides health services and plans in the United States. Its Pharmacy Services segment offers pharmacy benefit management solutions, such as plan design and administration, formulary management, retail pharmacy network management, mail order pharmacy, specialty pharmacy and infusion, Medicare Part D, clinical, disease management, and medical spend management services.

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