CVS Health (NYSE:CVS) Stock Price Down 0.5%

CVS Health Co. (NYSE:CVSGet Free Report) shares were down 0.5% during trading on Wednesday . The company traded as low as $59.62 and last traded at $59.94. Approximately 2,291,634 shares changed hands during trading, a decline of 81% from the average daily volume of 12,167,871 shares. The stock had previously closed at $60.26.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on CVS shares. JPMorgan Chase & Co. lowered their price objective on CVS Health from $101.00 to $86.00 and set an “overweight” rating on the stock in a research report on Thursday, May 30th. Bank of America lowered their price target on CVS Health from $95.00 to $77.00 and set a “buy” rating on the stock in a report on Thursday, May 2nd. Robert W. Baird started coverage on CVS Health in a report on Thursday, May 30th. They set a “neutral” rating and a $61.00 price objective for the company. TD Cowen downgraded 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. Finally, Baird R W raised shares of CVS Health to a “hold” rating in a research note on Thursday, May 30th. Eleven research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $75.05.

Get Our Latest Report on CVS

CVS Health Trading Up 0.3 %

The firm’s 50 day moving average is $64.12 and its 200 day moving average is $71.39. 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 company has a market capitalization of $75.87 billion, a PE ratio of 10.53, a P/E/G ratio of 0.57 and a beta of 0.53.

CVS Health (NYSE:CVSGet Free Report) last released its quarterly earnings data on Wednesday, May 1st. The pharmacy operator reported $1.31 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.69 by ($0.38). The firm had revenue of $88.44 billion during the quarter, compared to analysts’ expectations of $89.33 billion. CVS Health had a net margin of 2.03% and a return on equity of 13.53%. CVS Health’s revenue was up 3.7% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $2.20 EPS. As a group, equities analysts predict that CVS Health Co. will post 7.02 EPS for the current year.

CVS Health Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, May 1st. Stockholders of record on Monday, April 22nd were paid a dividend of $0.665 per share. The ex-dividend date was Friday, April 19th. This represents a $2.66 annualized dividend and a dividend yield of 4.40%. CVS Health’s dividend payout ratio (DPR) is presently 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 dated Thursday, May 2nd. The stock was purchased at an average cost of $53.88 per share, with a total value of $53,880.00. Following the transaction, the director now owns 21,630 shares in the company, valued at approximately $1,165,424.40. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 0.24% of the stock is currently owned by insiders.

Institutional Trading of CVS Health

Several large investors have recently bought and sold shares of the company. Atticus Wealth Management LLC grew its stake in CVS Health by 149.0% in the fourth quarter. Atticus Wealth Management LLC now owns 366 shares of the pharmacy operator’s stock worth $29,000 after purchasing an additional 219 shares during the period. USA Financial Formulas grew its position in shares of CVS Health by 573.2% in the 4th quarter. USA Financial Formulas now owns 377 shares of the pharmacy operator’s stock worth $30,000 after buying an additional 321 shares during the period. Ables Iannone Moore & Associates Inc. bought a new position in shares of CVS Health in the 4th quarter worth about $32,000. Creekmur Asset Management LLC purchased a new position in CVS Health during the 4th quarter valued at about $34,000. Finally, Steph & Co. boosted its stake in CVS Health by 192.0% during the first quarter. Steph & Co. now owns 438 shares of the pharmacy operator’s stock worth $35,000 after acquiring an additional 288 shares in the last quarter. 80.66% of the stock is owned by institutional investors.

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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