CVS Health (NYSE:CVS) Trading Up 2.3%

CVS Health Co. (NYSE:CVS - Get Free Report)'s share price traded up 2.3% on Thursday . The stock traded as high as $57.67 and last traded at $57.55. 3,622,759 shares changed hands during mid-day trading, a decline of 69% from the average session volume of 11,836,104 shares. The stock had previously closed at $56.26.

Analysts Set New Price Targets

A number of research firms have recently commented on CVS. The Goldman Sachs Group lowered their price target on CVS Health from $85.00 to $74.00 and set a "buy" rating for the company in a report on Thursday, May 2nd. Barclays dropped 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 report on Thursday, May 2nd. Piper Sandler upped their price objective on shares of CVS Health from $93.00 to $94.00 and gave the stock an "overweight" rating in a research report on Friday, March 15th. Bank of America cut their target price on shares of CVS Health from $95.00 to $77.00 and set a "buy" rating on the stock in a research report on Thursday, May 2nd. Finally, Cantor Fitzgerald downgraded shares of CVS Health from an "overweight" rating to a "neutral" rating and lowered their price target for the stock from $87.00 to $58.00 in a report on Wednesday, May 1st. Nine research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company's stock. According to MarketBeat, CVS Health currently has an average rating of "Moderate Buy" and an average price target of $76.75.

CVS Health Price Performance

The company has a debt-to-equity ratio of 0.78, a quick ratio of 0.61 and a current ratio of 0.81. The firm has a market capitalization of $72.21 billion, a PE ratio of 10.13, a price-to-earnings-growth ratio of 0.89 and a beta of 0.56. The business's 50 day moving average is $69.74 and its two-hundred day moving average is $72.54.

CVS Health (NYSE:CVS - Get Free Report) last announced its quarterly earnings results on Wednesday, May 1st. The pharmacy operator reported $1.31 earnings per share for the quarter, missing the consensus estimate of $1.69 by ($0.38). CVS Health had a net margin of 2.03% and a return on equity of 13.53%. The company had revenue of $88.44 billion for the quarter, compared to the consensus estimate of $89.33 billion. During the same quarter in the prior year, the company earned $2.20 earnings per share. The company's quarterly revenue was up 3.7% on a year-over-year basis. Equities research analysts anticipate that CVS Health Co. will post 7.02 earnings per share for the current fiscal year.

CVS Health Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, May 1st. Shareholders of record on Monday, April 22nd were issued a $0.665 dividend. This represents a $2.66 annualized dividend and a yield of 4.62%. The ex-dividend date of this dividend was Friday, April 19th. CVS Health's dividend payout ratio (DPR) is currently 46.75%.

Insider Activity at CVS Health

In other CVS Health news, EVP Prem S. Shah sold 29,473 shares of the business's stock in a transaction 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 sale, the executive vice president now directly owns 39,765 shares of the company's stock, valued at $3,059,916.75. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, Director Edward J. Ludwig acquired 1,000 shares of CVS Health stock in a transaction dated Thursday, May 2nd. The shares were 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 transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Prem S. Shah sold 29,473 shares of the business's stock in a transaction dated 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 completion of the sale, the executive vice president now owns 39,765 shares in the company, valued at $3,059,916.75. The disclosure for this sale can be found here. 0.24% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On CVS Health

Large investors have recently made changes to their positions in the company. Invenomic Capital Management LP raised its holdings in shares of CVS Health by 23.3% in the first quarter. Invenomic Capital Management LP now owns 189,996 shares of the pharmacy operator's stock valued at $15,154,000 after acquiring an additional 35,949 shares in the last quarter. Janus Henderson Group PLC raised its holdings in shares of CVS Health by 2.5% in the 1st quarter. Janus Henderson Group PLC now owns 177,372 shares of the pharmacy operator's stock valued at $14,143,000 after purchasing an additional 4,318 shares in the last quarter. Waverly Advisors LLC boosted its stake in shares of CVS Health by 25.0% during the first quarter. Waverly Advisors LLC now owns 14,057 shares of the pharmacy operator's stock valued at $1,121,000 after purchasing an additional 2,815 shares in the last quarter. Captrust Financial Advisors increased its holdings in CVS Health by 4.9% during the first quarter. Captrust Financial Advisors now owns 1,892,879 shares of the pharmacy operator's stock valued at $150,976,000 after buying an additional 88,113 shares during the period. Finally, Zurich Insurance Group Ltd FI bought a new position in CVS Health in the first quarter worth approximately $2,114,000. 80.66% of the stock is owned by hedge funds and other institutional investors.

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.

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