CVS Health Co. (NYSE:CVS - Get Free Report)'s share price dropped 0.6% during mid-day trading on Tuesday . The company traded as low as $50.93 and last traded at $51.22. Approximately 3,163,712 shares changed hands during mid-day trading, a decline of 77% from the average daily volume of 13,606,966 shares. The stock had previously closed at $51.52.
Analyst Upgrades and Downgrades
Several equities research analysts have commented on CVS shares. StockNews.com downgraded CVS Health from a "hold" rating to a "sell" rating in a report on Thursday, November 14th. UBS Group boosted their price objective on shares of CVS Health from $60.00 to $62.00 and gave the stock a "neutral" rating in a research note on Thursday, November 7th. Royal Bank of Canada cut their target price on shares of CVS Health from $68.00 to $58.00 and set an "outperform" rating on the stock in a research note on Friday, November 15th. Truist Financial decreased their price target on shares of CVS Health from $67.00 to $60.00 and set a "buy" rating for the company in a research report on Monday, January 6th. Finally, Wells Fargo & Company raised CVS Health from an "equal weight" rating to an "overweight" rating and raised their price objective for the company from $60.00 to $66.00 in a research report on Monday, November 18th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and thirteen have issued a buy rating to the company's stock. Based on data from MarketBeat.com, CVS Health currently has a consensus rating of "Moderate Buy" and an average price target of $68.71.
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CVS Health Stock Performance
The company has a 50 day moving average price of $51.68 and a 200-day moving average price of $56.44. The company has a quick ratio of 0.59, a current ratio of 0.80 and a debt-to-equity ratio of 0.80. The company has a market cap of $64.93 billion, a P/E ratio of 13.10, a PEG ratio of 0.85 and a beta of 0.59.
CVS Health (NYSE:CVS - Get Free Report) last posted its quarterly earnings data on Wednesday, November 6th. The pharmacy operator reported $1.09 earnings per share (EPS) for the quarter, beating the consensus estimate 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 analysts' expectations of $92.72 billion. During the same period last year, the firm posted $2.21 earnings per share. The business's revenue was up 6.3% on a year-over-year basis. Equities analysts expect that CVS Health Co. will post 5.32 EPS for the current fiscal year.
CVS Health Dividend Announcement
The firm also recently announced a quarterly dividend, which will be paid on Monday, February 3rd. Investors of record on Thursday, January 23rd will be issued a $0.665 dividend. The ex-dividend date is Thursday, January 23rd. This represents a $2.66 dividend on an annualized basis and a dividend yield of 5.16%. CVS Health's payout ratio is currently 67.51%.
Hedge Funds Weigh In On CVS Health
A number of institutional investors have recently bought and sold shares of CVS. Assetmark Inc. lifted its position in shares of CVS Health by 9.7% in the 3rd quarter. Assetmark Inc. now owns 410,001 shares of the pharmacy operator's stock valued at $25,781,000 after acquiring an additional 36,132 shares in the last quarter. TD Private Client Wealth LLC boosted its position in shares of CVS Health by 28.7% in the third quarter. TD Private Client Wealth LLC now owns 46,938 shares of the pharmacy operator's stock worth $2,951,000 after buying an additional 10,465 shares during the period. Cullinan Associates Inc. grew its holdings in shares of CVS Health by 43.8% during the third quarter. Cullinan Associates Inc. now owns 122,682 shares of the pharmacy operator's stock valued at $7,125,000 after buying an additional 37,395 shares in the last quarter. Principal Financial Group Inc. lifted its stake in CVS Health by 4.8% in the 3rd quarter. Principal Financial Group Inc. now owns 1,434,476 shares of the pharmacy operator's stock worth $90,200,000 after acquiring an additional 66,244 shares in the last quarter. Finally, Sompo Asset Management Co. Ltd. boosted its position in CVS Health by 8.4% during the 3rd quarter. Sompo Asset Management Co. Ltd. now owns 134,523 shares of the pharmacy operator's stock worth $8,459,000 after acquiring an additional 10,453 shares during the period. Hedge funds and other 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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