CVS Health (NYSE:CVS) Shares Down 0.5%

CVS Health Co. (NYSE:CVSGet Free Report)’s stock price was down 0.5% during mid-day trading on Thursday . The company traded as low as $56.71 and last traded at $57.13. Approximately 2,008,245 shares were traded during trading, a decline of 83% from the average daily volume of 11,848,862 shares. The stock had previously closed at $57.44.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on CVS shares. Piper Sandler boosted their price objective on CVS Health from $93.00 to $94.00 and gave the company an “overweight” rating in a research note on Friday, March 15th. StockNews.com downgraded CVS Health from a “buy” rating to a “hold” rating in a research note on Thursday, February 15th. Bank of America dropped their price target on CVS Health from $95.00 to $77.00 and set a “buy” rating for the company in a research note on Thursday, May 2nd. Argus dropped their price target on CVS Health from $100.00 to $80.00 and set a “buy” rating for the company in a research note on Wednesday, May 8th. Finally, SVB Leerink reaffirmed a “market perform” rating and set a $60.00 price objective (down from $87.00) on shares of CVS Health in a report on Wednesday, May 1st. Nine research analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $76.75.

View Our Latest Report on CVS

CVS Health Price Performance

The company has a debt-to-equity ratio of 0.78, a current ratio of 0.81 and a quick ratio of 0.61. The stock has a market cap of $69.72 billion, a price-to-earnings ratio of 9.76, a P/E/G ratio of 0.53 and a beta of 0.56. The stock has a fifty day moving average of $67.13 and a 200 day moving average of $71.91.

CVS Health (NYSE:CVSGet Free Report) last released its earnings results on Wednesday, May 1st. The pharmacy operator reported $1.31 EPS 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 firm had revenue of $88.44 billion for the quarter, compared to analyst estimates of $89.33 billion. During the same period last year, the firm earned $2.20 EPS. The company’s revenue for the quarter was up 3.7% compared to the same quarter last year. On average, analysts expect that CVS Health Co. will post 7.02 EPS for the current fiscal year.

CVS Health Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, May 1st. Investors of record on Monday, April 22nd were given a dividend of $0.665 per share. This represents a $2.66 annualized dividend and a dividend yield of 4.79%. The ex-dividend date of this dividend was Friday, April 19th. CVS Health’s payout ratio is 46.75%.

Insider Buying and Selling

In related news, Director Edward J. Ludwig bought 1,000 shares of the company’s stock in a transaction on Thursday, May 2nd. The stock was bought at an average cost of $53.88 per share, for a total transaction of $53,880.00. Following 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 filing with the Securities & Exchange Commission, which is available at this link. 0.24% of the stock is owned by company insiders.

Hedge Funds Weigh In On CVS Health

Several large investors have recently modified their holdings of the business. Atticus Wealth Management LLC lifted its stake in CVS Health by 149.0% during the 4th quarter. Atticus Wealth Management LLC now owns 366 shares of the pharmacy operator’s stock worth $29,000 after acquiring an additional 219 shares in the last quarter. USA Financial Formulas lifted its stake in CVS Health by 573.2% during the 4th quarter. USA Financial Formulas now owns 377 shares of the pharmacy operator’s stock worth $30,000 after acquiring an additional 321 shares in the last quarter. Cornerstone Planning Group LLC lifted its stake in CVS Health by 111.5% during the 3rd quarter. Cornerstone Planning Group LLC now owns 461 shares of the pharmacy operator’s stock worth $32,000 after acquiring an additional 243 shares in the last quarter. Ables Iannone Moore & Associates Inc. acquired a new position in CVS Health during the 4th quarter worth about $32,000. Finally, Creekmur Asset Management LLC acquired a new position in CVS Health during the 4th quarter worth about $34,000. Institutional investors and hedge funds own 80.66% of the company’s stock.

About CVS Health

(Get Free Report)

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.

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