CVS Health (NYSE:CVS) Trading Down 0.1%

CVS Health Co. (NYSE:CVSGet Free Report) shares were down 0.1% during mid-day trading on Wednesday . The company traded as low as $60.87 and last traded at $61.01. Approximately 8,908,978 shares changed hands during mid-day trading, a decline of 29% from the average daily volume of 12,579,301 shares. The stock had previously closed at $61.09.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on CVS shares. Barclays cut their price objective on CVS Health from $78.00 to $63.00 and set an “equal weight” rating for the company in a report on Thursday, May 2nd. Cantor Fitzgerald reaffirmed a “neutral” rating and set a $58.00 price target on shares of CVS Health in a research report on Wednesday, June 12th. Piper Sandler upped their target price on CVS Health from $93.00 to $94.00 and gave the stock an “overweight” rating in a report on Friday, March 15th. Baird R W upgraded CVS Health to a “hold” rating in a report on Thursday, May 30th. Finally, Argus cut their price target on CVS Health from $100.00 to $80.00 and set a “buy” rating on the stock in a research note on Wednesday, May 8th. Eleven equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to data from MarketBeat.com, CVS Health currently has a consensus rating of “Moderate Buy” and a consensus target price of $75.05.

View Our Latest Report on CVS Health

CVS Health Trading Down 0.1 %

The company has a quick ratio of 0.61, a current ratio of 0.81 and a debt-to-equity ratio of 0.78. The stock has a fifty day simple moving average of $60.99 and a 200 day simple moving average of $70.84. The firm has a market capitalization of $76.59 billion, a P/E ratio of 10.72, a PEG ratio of 0.58 and a beta of 0.53.

CVS Health (NYSE:CVSGet Free Report) last issued its quarterly earnings data 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). The firm had revenue of $88.44 billion for 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%. The company’s revenue for the quarter was up 3.7% on a year-over-year basis. During the same quarter in the previous year, the business earned $2.20 EPS. As a group, research analysts forecast that CVS Health Co. will post 7.02 EPS for the current year.

CVS Health Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, May 1st. Stockholders of record on Monday, April 22nd were given a dividend of $0.665 per share. The ex-dividend date of this dividend was Friday, April 19th. This represents a $2.66 dividend on an annualized basis and a dividend yield of 4.36%. CVS Health’s payout ratio is 46.75%.

Insider Activity

In other news, Director Edward J. Ludwig acquired 1,000 shares of the business’s stock in a transaction dated Thursday, May 2nd. The stock was purchased at an average price of $53.88 per share, for a total transaction of $53,880.00. Following the completion of the transaction, the director now directly owns 21,630 shares in the company, valued at approximately $1,165,424.40. The acquisition was disclosed in a filing with the SEC, which is available through this link. Company insiders own 0.24% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Atticus Wealth Management LLC grew its position 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 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 worth $30,000 after acquiring an additional 321 shares in the last quarter. Ables Iannone Moore & Associates Inc. purchased a new position in CVS Health in the fourth quarter worth about $32,000. Creekmur Asset Management LLC purchased a new position in CVS Health in the fourth quarter worth about $34,000. Finally, Steph & Co. grew its position in CVS Health by 192.0% in 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. Hedge funds and other institutional investors 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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