CVS Health (NYSE:CVS) PT Lowered to $74.00 at The Goldman Sachs Group

CVS Health (NYSE:CVS) had its price target lowered by The Goldman Sachs Group from $85.00 to $74.00 in a research note published on Thursday, Benzinga reports. The Goldman Sachs Group currently has a buy rating on the pharmacy operator’s stock.

A number of other analysts also recently weighed in on CVS. Royal Bank of Canada decreased their price target on shares of CVS Health from $86.00 to $84.00 and set an outperform rating for the company in a research report on Thursday, February 8th. Wells Fargo & Company decreased their price target on shares of CVS Health from $83.00 to $76.00 and set an equal weight rating for the company in a research report on Monday, April 8th. Leerink Partnrs reissued an outperform rating on shares of CVS Health in a research report on Monday, February 26th. Cantor Fitzgerald cut CVS Health from an overweight rating to a neutral rating and reduced their price objective for the stock from $87.00 to $58.00 in a research note on Wednesday, May 1st. Finally, SVB Leerink restated a market perform rating and set a $60.00 price objective (down from $87.00) on shares of CVS Health in a research note on Wednesday, May 1st. Eight analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to MarketBeat.com, CVS Health has a consensus rating of Moderate Buy and an average price target of $80.35.

CVS Health Stock Up 1.4 %

Shares of NYSE:CVS opened at $55.90 on Thursday. The company has a quick ratio of 0.61, a current ratio of 0.81 and a debt-to-equity ratio of 0.78. CVS Health has a 52-week low of $53.70 and a 52-week high of $83.25. The company has a 50 day moving average of $72.77 and a two-hundred day moving average of $73.29. The company has a market capitalization of $70.18 billion, a price-to-earnings ratio of 9.82, a price-to-earnings-growth ratio of 0.88 and a beta of 0.56.

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

CVS Health Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, May 1st. Stockholders of record on Monday, April 22nd were issued a dividend of $0.665 per share. This represents a $2.66 dividend on an annualized basis and a dividend yield of 4.76%. The ex-dividend date was Friday, April 19th. CVS Health’s dividend payout ratio (DPR) is 46.75%.

Insider Activity

In other news, EVP Prem S. Shah sold 29,473 shares of the firm’s 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 transaction, the executive vice president now directly owns 39,765 shares of the company’s stock, valued at $3,059,916.75. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, Director Edward J. Ludwig bought 1,000 shares of the stock in a transaction that occurred on Thursday, May 2nd. The shares were purchased at an average cost of $53.88 per share, with a total value of $53,880.00. Following the completion of the acquisition, the director now directly owns 21,630 shares in the company, valued at $1,165,424.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Prem S. Shah sold 29,473 shares of CVS Health stock in a transaction dated Friday, February 16th. The stock was sold at an average price of $76.95, for a total value of $2,267,947.35. Following the transaction, the executive vice president now directly owns 39,765 shares in the company, valued at $3,059,916.75. The disclosure for this sale can be found here. Corporate insiders own 0.24% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. Mission Wealth Management LP increased its stake in CVS Health by 4.3% in the 3rd quarter. Mission Wealth Management LP now owns 5,081 shares of the pharmacy operator’s stock worth $355,000 after purchasing an additional 210 shares in the last quarter. Stratos Wealth Partners LTD. increased its stake in CVS Health by 6.2% in the 3rd quarter. Stratos Wealth Partners LTD. now owns 65,885 shares of the pharmacy operator’s stock worth $4,600,000 after purchasing an additional 3,874 shares in the last quarter. Stratos Wealth Advisors LLC increased its stake in CVS Health by 82.5% in the 3rd quarter. Stratos Wealth Advisors LLC now owns 6,614 shares of the pharmacy operator’s stock worth $462,000 after purchasing an additional 2,990 shares in the last quarter. NorthRock Partners LLC increased its stake in CVS Health by 24.0% in the 3rd quarter. NorthRock Partners LLC now owns 8,307 shares of the pharmacy operator’s stock worth $580,000 after purchasing an additional 1,606 shares in the last quarter. Finally, Bank of New York Mellon Corp increased its stake in CVS Health by 2.6% in the 3rd quarter. Bank of New York Mellon Corp now owns 10,678,078 shares of the pharmacy operator’s stock worth $745,543,000 after purchasing an additional 266,650 shares in the last quarter. 80.66% of the stock is owned by institutional investors and hedge funds.

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.