CVS Health (NYSE:CVS) Shares Down 0.6%

CVS Health Co. (NYSE:CVSGet Free Report)’s stock price was down 0.6% during mid-day trading on Tuesday . The stock traded as low as $56.70 and last traded at $57.05. Approximately 4,645,541 shares traded hands during trading, a decline of 61% from the average daily volume of 11,846,261 shares. The stock had previously closed at $57.40.

Analyst Ratings Changes

Several research analysts have recently issued reports on CVS shares. StockNews.com downgraded shares of CVS Health from a “buy” rating to a “hold” rating in a report on Thursday, February 15th. TD Cowen cut shares of CVS Health from a “buy” rating to a “hold” rating and lowered their target price for the company from $99.00 to $59.00 in a research note on Tuesday, May 7th. Argus lowered their target price on shares of CVS Health from $100.00 to $80.00 and set a “buy” rating on the stock in a research note on Wednesday, May 8th. Wells Fargo & Company lowered their target price on shares of CVS Health from $76.00 to $60.00 and set an “equal weight” rating on the stock in a research note on Tuesday, May 7th. Finally, Royal Bank of Canada lowered their target price on shares of CVS Health from $86.00 to $84.00 and set an “outperform” rating on the stock in a research note on Thursday, February 8th. Nine research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $76.75.

Check Out Our Latest Analysis on CVS Health

CVS Health Price Performance

The company’s fifty day moving average is $67.98 and its two-hundred day moving average is $72.13. The firm has a market capitalization of $71.71 billion, a price-to-earnings ratio of 10.10, a price-to-earnings-growth ratio of 0.55 and a beta of 0.56. 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 (NYSE:CVSGet Free Report) last announced its quarterly earnings data on Wednesday, May 1st. The pharmacy operator reported $1.31 earnings per share for the quarter, missing the consensus estimate of $1.69 by ($0.38). CVS Health had a net margin of 2.03% and a return on equity of 13.53%. The business had revenue of $88.44 billion during the quarter, compared to analyst estimates of $89.33 billion. During the same quarter in the prior year, the company earned $2.20 earnings per share. The company’s quarterly revenue was up 3.7% on a year-over-year basis. Equities research analysts anticipate that CVS Health Co. will post 7.02 earnings per share for the current fiscal year.

CVS Health Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, May 1st. Shareholders of record on Monday, April 22nd were issued a $0.665 dividend. The ex-dividend date was Friday, April 19th. This represents a $2.66 annualized dividend and a yield of 4.66%. CVS Health’s dividend payout ratio (DPR) is presently 46.75%.

Insiders Place Their Bets

In other news, Director Edward J. Ludwig bought 1,000 shares of the business’s stock in a transaction on Thursday, May 2nd. The shares were bought at an average cost 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 in the company, valued at approximately $1,165,424.40. The acquisition was disclosed in a document filed with the SEC, which is available through this hyperlink. Company insiders own 0.24% of the company’s stock.

Institutional Investors Weigh In On CVS Health

Several large investors have recently made changes to their positions in CVS. Atticus Wealth Management LLC increased its position in shares of CVS Health by 149.0% during the fourth 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 grew its position in CVS Health by 573.2% in the fourth quarter. USA Financial Formulas now owns 377 shares of the pharmacy operator’s stock valued at $30,000 after purchasing an additional 321 shares in the last quarter. Cornerstone Planning Group LLC grew its position in CVS Health by 111.5% in the third quarter. Cornerstone Planning Group LLC now owns 461 shares of the pharmacy operator’s stock valued at $32,000 after purchasing an additional 243 shares in the last quarter. Ables Iannone Moore & Associates Inc. bought a new position in CVS Health in the fourth quarter valued at $32,000. Finally, Creekmur Asset Management LLC bought a new position in CVS Health in the fourth quarter valued at $34,000. Institutional investors own 80.66% of the company’s stock.

CVS Health Company Profile

(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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