CVS Health (NYSE:CVS) Stock Price Down 0.1% – Here’s Why

CVS Health Co. (NYSE:CVS) dropped 0.1% on Wednesday . The company traded as low as $52.34 and last traded at $53.08. Approximately 2,169,597 shares changed hands during mid-day trading, a decline of 84% from the average daily volume of 13,347,702 shares. The stock had previously closed at $53.15.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on CVS. Deutsche Bank Aktiengesellschaft raised CVS Health from a “hold” rating to a “buy” rating and set a $66.00 target price for the company in a research report on Tuesday, December 3rd. Royal Bank of Canada dropped their price objective on shares of CVS Health from $68.00 to $58.00 and set an “outperform” rating for the company in a research note on Friday, November 15th. TD Cowen raised their price objective on CVS Health from $73.00 to $80.00 and gave the stock a “buy” rating in a report on Monday, November 25th. UBS Group boosted their price objective on CVS Health from $60.00 to $62.00 and gave the stock a “neutral” rating in a research note on Thursday, November 7th. Finally, Truist Financial dropped their target price on CVS Health from $67.00 to $60.00 and set a “buy” rating on the stock in a research report on Monday, January 6th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and thirteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, CVS Health has an average rating of “Moderate Buy” and an average price target of $68.71.

CVS Health Stock Performance

The business has a 50 day moving average price of $51.26 and a 200 day moving average price of $56.26. The stock has a market capitalization of $67.22 billion, a PE ratio of 13.54, a PEG ratio of 0.79 and a beta of 0.59. The company has a debt-to-equity ratio of 0.80, a current ratio of 0.80 and a quick ratio of 0.59.

CVS Health (NYSE:CVS) last posted its quarterly earnings results on Wednesday, November 6th. The pharmacy operator reported $1.09 earnings per share for the quarter, topping analysts’ consensus estimates of $1.08 by $0.01. CVS Health had a net margin of 1.36% and a return on equity of 10.72%. The business had revenue of $95.43 billion during the quarter, compared to analyst estimates of $92.72 billion. During the same period in the prior year, the business posted $2.21 earnings per share. The company’s revenue was up 6.3% on a year-over-year basis. As a group, equities research analysts expect that CVS Health Co. will post 5.22 earnings per share for the current year.

CVS Health Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, February 3rd. Stockholders of record on Thursday, January 23rd will be paid a dividend of $0.665 per share. The ex-dividend date is Thursday, January 23rd. This represents a $2.66 annualized dividend and a dividend yield of 4.98%. CVS Health’s dividend payout ratio is currently 67.51%.

Institutional Trading of CVS Health

Several large investors have recently bought and sold shares of CVS. Sound Income Strategies LLC lifted its holdings in CVS Health by 7.2% during the third quarter. Sound Income Strategies LLC now owns 2,397 shares of the pharmacy operator’s stock valued at $151,000 after purchasing an additional 162 shares in the last quarter. Hexagon Capital Partners LLC grew its holdings in shares of CVS Health by 3.5% in the third quarter. Hexagon Capital Partners LLC now owns 5,268 shares of the pharmacy operator’s stock valued at $331,000 after purchasing an additional 178 shares during the period. Bruce G. Allen Investments LLC increased its holdings in shares of CVS Health by 13.1% during the 3rd quarter. Bruce G. Allen Investments LLC now owns 1,681 shares of the pharmacy operator’s stock worth $106,000 after buying an additional 195 shares during the last quarter. Integrated Advisors Network LLC grew its position in CVS Health by 0.7% in the third quarter. Integrated Advisors Network LLC now owns 27,625 shares of the pharmacy operator’s stock worth $1,737,000 after acquiring an additional 200 shares during the period. Finally, Widmann Financial Services Inc. lifted its stake in shares of CVS Health by 1.8% in the 3rd quarter. Widmann Financial Services Inc. now owns 11,506 shares of the pharmacy operator’s stock valued at $724,000 after purchasing an additional 200 shares during the last quarter. Hedge funds and other institutional investors own 80.66% of the company’s stock.

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.