CVS Health (NYSE:CVS) Shares Down 0.5%

CVS Health Co. (NYSE:CVS - Get Free Report)'s stock price traded down 0.5% during trading on Thursday . The company traded as low as $56.71 and last traded at $57.13. 2,008,245 shares changed hands during mid-day trading, a decline of 83% from the average session volume of 11,848,862 shares. The stock had previously closed at $57.44.

Analysts Set New Price Targets

CVS has been the topic of a number of recent analyst reports. Barclays lowered their price target on shares of CVS Health from $78.00 to $63.00 and set an "equal weight" rating on the stock in a report on Thursday, May 2nd. Royal Bank of Canada decreased their price target on CVS Health from $86.00 to $84.00 and set an "outperform" rating for the company in a report on Thursday, February 8th. UBS Group downgraded shares of CVS Health from a "buy" rating to a "neutral" rating and reduced their price target for the company from $85.00 to $60.00 in a research report on Thursday, May 2nd. Cantor Fitzgerald downgraded shares of CVS Health from an "overweight" rating to a "neutral" rating and cut their price objective for the stock from $87.00 to $58.00 in a research report on Wednesday, May 1st. Finally, Mizuho lowered their price target on CVS Health from $86.00 to $72.00 and set a "buy" rating on the stock in a report on Thursday, May 2nd. Nine research 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, CVS Health presently has a consensus rating of "Moderate Buy" and an average price target of $76.75.

CVS Health Trading Down 3.1 %

The company has a market cap of $69.86 billion, a P/E ratio of 9.78, a PEG ratio of 0.55 and a beta of 0.56. The company has a quick ratio of 0.61, a current ratio of 0.81 and a debt-to-equity ratio of 0.78. The firm's 50 day moving average is $67.57 and its two-hundred day moving average is $72.02.

CVS Health (NYSE:CVS - Get Free Report) last posted its 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). The firm had revenue of $88.44 billion for the quarter, compared to analysts' expectations 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 was up 3.7% on a year-over-year basis. During the same quarter last year, the company posted $2.20 EPS. As a group, equities research analysts anticipate that CVS Health Co. will post 7.02 EPS for the current 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 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 yield of 4.78%. CVS Health's dividend payout ratio is currently 46.75%.

Insiders Place Their Bets

In other CVS Health news, Director Edward J. Ludwig purchased 1,000 shares of the stock in a transaction on Thursday, May 2nd. The shares were bought 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 owns 21,630 shares of the company's stock, valued at approximately $1,165,424.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.24% of the stock is owned by insiders.

Hedge Funds Weigh In On CVS Health

Large investors have recently added to or reduced their stakes in the business. Atticus Wealth Management LLC lifted its holdings in CVS Health by 149.0% in the 4th quarter. Atticus Wealth Management LLC now owns 366 shares of the pharmacy operator's stock valued at $29,000 after acquiring an additional 219 shares during the last quarter. USA Financial Formulas increased its position in shares of 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 in the last quarter. Cornerstone Planning Group LLC grew its position in shares of CVS Health by 111.5% during the 3rd quarter. Cornerstone Planning Group LLC now owns 461 shares of the pharmacy operator's stock worth $32,000 after buying an additional 243 shares during the period. Ables Iannone Moore & Associates Inc. bought a new position in shares of CVS Health during the fourth quarter worth $32,000. Finally, Creekmur Asset Management LLC acquired a new stake in shares of CVS Health in the 4th quarter valued at about $34,000. 80.66% of the stock is currently 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.