CVS Health (NYSE:CVS - Free Report) had its price objective lowered by Wells Fargo & Company from $76.00 to $60.00 in a report published on Tuesday, Benzinga reports. The brokerage currently has an equal weight rating on the pharmacy operator's stock.
A number of other equities analysts also recently commented on CVS. Bank of America dropped their price objective on CVS Health from $95.00 to $77.00 and set a buy rating on the stock in a report on Thursday, May 2nd. StockNews.com lowered shares of CVS Health from a buy rating to a hold rating in a research note on Thursday, February 15th. Truist Financial reissued a buy rating and set a $66.00 target price (down from $90.00) on shares of CVS Health in a research report on Thursday, May 2nd. Royal Bank of Canada cut their price objective on CVS Health from $86.00 to $84.00 and set an outperform rating for the company in a research report on Thursday, February 8th. Finally, Barclays cut their target price on shares of CVS Health from $78.00 to $63.00 and set an equal weight rating for the company in a research note on Thursday, May 2nd. Nine research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to MarketBeat.com, CVS Health presently has an average rating of Moderate Buy and a consensus target price of $77.55.
Read Our Latest Analysis on CVS Health
CVS Health Stock Down 0.4 %
CVS Health stock traded down $0.23 during trading hours on Tuesday, hitting $55.74. The company had a trading volume of 17,144,275 shares, compared to its average volume of 11,872,880. The firm's fifty day moving average is $72.36 and its 200-day moving average is $73.18. The firm has a market capitalization of $69.97 billion, a P/E ratio of 9.87, a price-to-earnings-growth ratio of 0.88 and a beta of 0.56. CVS Health has a fifty-two week low of $53.70 and a fifty-two week high of $83.25. The company has a debt-to-equity ratio of 0.78, a current ratio of 0.81 and a quick ratio of 0.61.
CVS Health (NYSE:CVS - Get Free Report) last posted its quarterly earnings results 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). CVS Health had a return on equity of 13.53% and a net margin of 2.03%. The company had revenue of $88.44 billion during the quarter, compared to analyst estimates of $89.33 billion. During the same period last year, the company posted $2.20 earnings per share. The company's revenue was up 3.7% compared to the same quarter last year. On average, research analysts forecast that CVS Health will post 7.03 earnings per share for the current year.
CVS Health Announces Dividend
The business also recently disclosed a quarterly dividend, which was paid on Wednesday, May 1st. Shareholders of record on Monday, April 22nd were issued 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 4.77%. CVS Health's payout ratio is presently 46.75%.
Insider Transactions at CVS Health
In other news, Director Edward J. Ludwig acquired 1,000 shares of the company's stock in a transaction dated Thursday, May 2nd. The stock was bought at an average price of $53.88 per share, with a total value 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 legal filing with the SEC, which is accessible through the SEC website. In other CVS Health news, Director Edward J. Ludwig bought 1,000 shares of the stock in a transaction dated Thursday, May 2nd. The stock was bought at an average cost of $53.88 per share, for a total transaction of $53,880.00. Following the completion of the purchase, the director now owns 21,630 shares in the company, valued at approximately $1,165,424.40. The acquisition 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 the company's stock in a transaction dated Friday, February 16th. The stock was sold at an average price of $76.95, for a total transaction of $2,267,947.35. Following the transaction, the executive vice president now owns 39,765 shares in the company, valued at approximately $3,059,916.75. The disclosure for this sale can be found here. 0.24% of the stock is owned by insiders.
Institutional Inflows and Outflows
Several large investors have recently bought and sold shares of the company. SOA Wealth Advisors LLC. boosted its stake in CVS Health by 4.9% in the fourth quarter. SOA Wealth Advisors LLC. now owns 2,859 shares of the pharmacy operator's stock valued at $226,000 after acquiring an additional 133 shares during the last quarter. Apella Capital LLC increased its holdings in CVS Health by 4.2% in the fourth quarter. Apella Capital LLC now owns 3,378 shares of the pharmacy operator's stock valued at $272,000 after purchasing an additional 136 shares during the last quarter. Prairie Sky Financial Group LLC boosted its holdings in CVS Health by 4.1% during the fourth quarter. Prairie Sky Financial Group LLC now owns 3,612 shares of the pharmacy operator's stock worth $285,000 after buying an additional 141 shares during the last quarter. WealthShield Partners LLC grew its position in shares of CVS Health by 3.2% during the 4th quarter. WealthShield Partners LLC now owns 4,498 shares of the pharmacy operator's stock worth $355,000 after buying an additional 141 shares during the period. Finally, Sugarloaf Wealth Management LLC raised its position in shares of CVS Health by 9.5% in the 4th quarter. Sugarloaf Wealth Management LLC now owns 1,639 shares of the pharmacy operator's stock valued at $129,000 after acquiring an additional 142 shares during the period. Institutional investors and hedge funds 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.
See Also
Before you consider CVS Health, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and CVS Health wasn't on the list.
While CVS Health currently has a "Moderate Buy" rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Thinking about investing in Meta, Roblox, or Unity? Click the link to learn what streetwise investors need to know about the metaverse and public markets before making an investment.
Get This Free Report
