Leerink Partnrs Downgrades CVS Health (NYSE:CVS) to Market Perform

Leerink Partnrs cut shares of CVS Health (NYSE:CVS - Free Report) from an outperform rating to a market perform rating in a report published on Wednesday morning, Zacks.com reports. Leerink Partnrs also issued estimates for CVS Health's Q4 2024 earnings at $1.94 EPS and FY2027 earnings at $9.68 EPS.

Other equities analysts also recently issued research reports about the company. Truist Financial reiterated a buy rating and issued a $66.00 target price (down previously from $90.00) on shares of CVS Health in a report on Thursday. Mizuho cut their target price on shares of CVS Health from $86.00 to $72.00 and set a buy rating for the company in a research report on Thursday. StockNews.com lowered shares of CVS Health from a buy rating to a hold rating in a research report on Thursday, February 15th. Piper Sandler lifted their price objective on CVS Health from $93.00 to $94.00 and gave the stock an overweight rating in a report on Friday, March 15th. Finally, UBS Group lowered shares of CVS Health from a buy rating to a neutral rating and dropped their price target for the stock from $85.00 to $60.00 in a research report on Thursday. Eight research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to MarketBeat.com, CVS Health currently has an average rating of Moderate Buy and a consensus price target of $80.35.

CVS Health Price Performance

CVS stock traded up $0.75 on Wednesday, hitting $55.90. 23,942,078 shares of the company's stock traded hands, compared to its average volume of 11,752,378. The company has a current ratio of 0.81, a quick ratio of 0.63 and a debt-to-equity ratio of 0.78. The stock has a market cap of $70.45 billion, a price-to-earnings ratio of 9.82, a P/E/G ratio of 0.89 and a beta of 0.56. CVS Health has a 1-year low of $53.70 and a 1-year high of $83.25. The stock has a fifty day moving average of $73.19 and a 200-day moving average of $73.37.

CVS Health (NYSE:CVS - Get Free Report) last announced its earnings results 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 company had revenue of $88.44 billion for the quarter, compared to analyst estimates of $89.33 billion. CVS Health had a return on equity of 13.53% and a net margin of 2.03%. The firm's revenue for the quarter was up 3.7% on a year-over-year basis. During the same period last year, the firm earned $2.20 earnings per share. On average, analysts forecast that CVS Health will post 7 EPS for the current fiscal year.

CVS Health Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, May 1st. Shareholders of record on Monday, April 22nd were paid a $0.665 dividend. This represents a $2.66 annualized dividend and a yield of 4.76%. The ex-dividend date of this dividend was Friday, April 19th. CVS Health's payout ratio is 46.75%.

Insider Buying and Selling at CVS Health

In other news, EVP Prem S. Shah sold 29,473 shares of the company's stock in a transaction that occurred on Friday, February 16th. The shares were sold at an average price of $76.95, for a total value of $2,267,947.35. Following the completion of the transaction, the executive vice president now owns 39,765 shares in the company, valued at $3,059,916.75. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, Director Edward J. Ludwig bought 1,000 shares of the company's stock in a transaction dated Thursday, May 2nd. The shares were bought at an average cost of $53.88 per share, with a total value of $53,880.00. Following the acquisition, the director now owns 21,630 shares in the company, valued at $1,165,424.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Prem S. Shah sold 29,473 shares of CVS Health stock in a transaction that occurred on Friday, February 16th. The stock was sold at an average price of $76.95, for a total value of $2,267,947.35. Following the transaction, the executive vice president now owns 39,765 shares of the company's stock, valued at $3,059,916.75. The disclosure for this sale can be found here. Insiders own 0.24% of the company's stock.

Institutional Trading of CVS Health

Several hedge funds and other institutional investors have recently modified their holdings of CVS. Stratos Wealth Advisors LLC raised its holdings in CVS Health by 82.5% in the 3rd quarter. Stratos Wealth Advisors LLC now owns 6,614 shares of the pharmacy operator's stock valued at $462,000 after acquiring an additional 2,990 shares in the last quarter. Intellectus Partners LLC raised its stake in CVS Health by 14.5% in the third quarter. Intellectus Partners LLC now owns 7,557 shares of the pharmacy operator's stock valued at $528,000 after purchasing an additional 959 shares in the last quarter. Sage Mountain Advisors LLC grew its stake in CVS Health by 1.1% during the third quarter. Sage Mountain Advisors LLC now owns 27,550 shares of the pharmacy operator's stock worth $1,924,000 after buying an additional 308 shares in the last quarter. AM Investment Strategies LLC raised its position in shares of CVS Health by 111.7% in the 3rd quarter. AM Investment Strategies LLC now owns 6,710 shares of the pharmacy operator's stock valued at $468,000 after buying an additional 3,540 shares in the last quarter. Finally, Godsey & Gibb Inc. boosted its position in shares of CVS Health by 153.5% during the 3rd quarter. Godsey & Gibb Inc. now owns 758 shares of the pharmacy operator's stock worth $53,000 after acquiring an additional 459 shares in the last quarter. 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.