CVS Health (NYSE:CVS) Shares Down 1.4%

Shares of CVS Health Co. (NYSE:CVS - Get Free Report) dropped 1.4% on Tuesday . The stock traded as low as $55.49 and last traded at $55.66. Approximately 3,438,441 shares traded hands during mid-day trading, a decline of 71% from the average daily volume of 11,737,347 shares. The stock had previously closed at $56.47.

Wall Street Analysts Forecast Growth

CVS has been the subject of several recent research reports. Leerink Partnrs downgraded CVS Health from an "outperform" rating to a "market perform" rating in a report on Wednesday, May 1st. The Goldman Sachs Group decreased their price objective on CVS Health from $85.00 to $74.00 and set a "buy" rating for the company in a report on Thursday, May 2nd. UBS Group downgraded CVS Health from a "buy" rating to a "neutral" rating and decreased their price objective for the company from $85.00 to $60.00 in a report on Thursday, May 2nd. Truist Financial restated a "buy" rating and issued a $66.00 price objective (down from $90.00) on shares of CVS Health in a report on Thursday, May 2nd. Finally, Piper Sandler increased their price target on shares of CVS Health from $93.00 to $94.00 and gave the company an "overweight" rating in a research report on Friday, March 15th. Nine investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $76.75.

CVS Health Stock Performance

The company has a market cap of $70.29 billion, a PE ratio of 9.77, a PEG ratio of 0.88 and a beta of 0.56. 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's 50 day moving average is $70.46 and its 200-day moving average is $72.73.

CVS Health (NYSE:CVS - Get Free Report) last announced its quarterly earnings data on Wednesday, May 1st. The pharmacy operator reported $1.31 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.69 by ($0.38). The business 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 firm's revenue was up 3.7% on a year-over-year basis. During the same period in the prior year, the company posted $2.20 EPS. On average, research analysts anticipate that CVS Health Co. will post 7.02 earnings per share for the current fiscal year.

CVS Health Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, May 1st. Stockholders 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 4.75%. CVS Health's dividend payout ratio is currently 46.75%.

Insider Transactions at CVS Health

In other news, Director Edward J. Ludwig purchased 1,000 shares of the business's stock in a transaction dated Thursday, May 2nd. The stock was acquired at an average price of $53.88 per share, for a total transaction of $53,880.00. Following the acquisition, the director now directly owns 21,630 shares of the company's stock, valued at $1,165,424.40. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In related news, Director Edward J. Ludwig acquired 1,000 shares of the stock in a transaction that occurred on Thursday, May 2nd. The stock was purchased at an average price of $53.88 per share, with a total value of $53,880.00. Following the transaction, the director now owns 21,630 shares of the company's stock, valued at approximately $1,165,424.40. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Prem S. Shah sold 29,473 shares of the stock in a transaction that occurred on 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 directly owns 39,765 shares of the company's stock, valued at approximately $3,059,916.75. The disclosure for this sale can be found here. Insiders own 0.24% of the company's stock.

Hedge Funds Weigh In On CVS Health

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Atticus Wealth Management LLC grew its holdings in shares of CVS Health by 149.0% during the fourth quarter. Atticus Wealth Management LLC now owns 366 shares of the pharmacy operator's stock worth $29,000 after purchasing an additional 219 shares during the last quarter. USA Financial Formulas grew its position in CVS Health by 573.2% during the 4th quarter. USA Financial Formulas now owns 377 shares of the pharmacy operator's stock worth $30,000 after purchasing an additional 321 shares during the last quarter. Ables Iannone Moore & Associates Inc. purchased a new stake in shares of CVS Health in the fourth quarter valued at about $32,000. Creekmur Asset Management LLC acquired a new position in CVS Health in the 4th quarter valued at about $34,000. Finally, Steph & Co. grew its stake in shares of CVS Health by 192.0% in the 1st quarter. Steph & Co. now owns 438 shares of the pharmacy operator's stock valued at $35,000 after purchasing an additional 288 shares during the last quarter. Hedge funds and other institutional investors own 80.66% of the company's stock.

About CVS Health

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.