CVS Health (NYSE:CVS) Downgraded by TD Cowen

CVS Health (NYSE:CVS) was downgraded by stock analysts at TD Cowen from a “buy” rating to a “hold” rating in a note issued to investors on Tuesday, Briefing.com reports. They currently have a $59.00 target price on the pharmacy operator’s stock, down from their prior target price of $99.00. TD Cowen’s price target would indicate a potential upside of 5.41% from the company’s previous close.

Several other equities analysts have also recently weighed in on the stock. Royal Bank of Canada decreased their target price on shares of CVS Health from $86.00 to $84.00 and set an “outperform” rating for the company in a research note on Thursday, February 8th. Cantor Fitzgerald cut shares of CVS Health from an “overweight” rating to a “neutral” rating and dropped their target price for the company from $87.00 to $58.00 in a report on Wednesday, May 1st. Bank of America reduced their price target on CVS Health from $95.00 to $77.00 and set a “buy” rating for the company in a report on Thursday, May 2nd. StockNews.com lowered CVS Health from a “buy” rating to a “hold” rating in a research note on Thursday, February 15th. Finally, Piper Sandler lifted their target price on CVS Health from $93.00 to $94.00 and gave the stock an “overweight” rating in a research note on Friday, March 15th. Nine investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $78.35.

CVS Health Stock Up 0.1 %

NYSE:CVS opened at $55.97 on Tuesday. The company has a market cap of $70.26 billion, a PE ratio of 9.84, a PEG ratio of 0.88 and a beta of 0.56. CVS Health has a 52-week low of $53.70 and a 52-week high of $83.25. The stock has a 50-day simple moving average of $72.36 and a 200 day simple moving average of $73.18. The company has a debt-to-equity ratio of 0.78, a quick ratio of 0.61 and a current ratio of 0.81.

CVS Health (NYSE:CVS) last released its earnings results on Wednesday, May 1st. The pharmacy operator reported $1.31 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.69 by ($0.38). The company had revenue of $88.44 billion for the quarter, compared to the consensus estimate of $89.33 billion. CVS Health had a return on equity of 13.53% and a net margin of 2.03%. The business’s revenue was up 3.7% on a year-over-year basis. During the same quarter in the previous year, the company posted $2.20 EPS. On average, sell-side analysts expect that CVS Health will post 7.03 EPS for the current fiscal year.

Insider Activity at CVS Health

In other CVS Health news, Director Edward J. Ludwig bought 1,000 shares of the stock in a transaction on Thursday, May 2nd. The stock was purchased at an average price of $53.88 per share, with a total value of $53,880.00. Following the completion of the purchase, the director now owns 21,630 shares in the company, valued at $1,165,424.40. The purchase was disclosed in a filing with the SEC, which is accessible through this link. In other news, EVP Prem S. Shah sold 29,473 shares of the business’s stock in a transaction dated 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 directly 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 accessible through the SEC website. Also, Director Edward J. Ludwig purchased 1,000 shares of CVS Health stock in a transaction dated Thursday, May 2nd. The shares were purchased at an average price of $53.88 per share, for a total transaction of $53,880.00. Following the completion of the acquisition, the director now owns 21,630 shares of the company’s stock, valued at approximately $1,165,424.40. The disclosure for this purchase can be found here. 0.24% of the stock is owned by insiders.

Institutional Trading of CVS Health

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Vanguard Group Inc. boosted its holdings in CVS Health by 0.5% in the fourth quarter. Vanguard Group Inc. now owns 117,696,285 shares of the pharmacy operator’s stock valued at $9,293,299,000 after acquiring an additional 533,659 shares during the last quarter. Capital World Investors boosted its holdings in shares of CVS Health by 0.3% during the 4th quarter. Capital World Investors now owns 40,544,702 shares of the pharmacy operator’s stock worth $3,201,410,000 after buying an additional 119,631 shares in the last quarter. Capital International Investors boosted its holdings in shares of CVS Health by 47.4% during the 4th quarter. Capital International Investors now owns 33,691,698 shares of the pharmacy operator’s stock worth $2,660,298,000 after buying an additional 10,837,801 shares in the last quarter. FMR LLC boosted its holdings in shares of CVS Health by 29.1% during the 3rd quarter. FMR LLC now owns 27,487,238 shares of the pharmacy operator’s stock worth $1,919,159,000 after buying an additional 6,194,441 shares in the last quarter. Finally, Northern Trust Corp boosted its holdings in shares of CVS Health by 2.2% during the 3rd quarter. Northern Trust Corp now owns 14,214,296 shares of the pharmacy operator’s stock worth $992,442,000 after buying an additional 305,564 shares in the last quarter. 80.66% of the stock is currently owned by institutional investors.

CVS Health Company Profile

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.