CVS Health (NYSE:CVS) Given "Buy" Rating at Truist Financial

Truist Financial reiterated their buy rating on shares of CVS Health (NYSE:CVS - Free Report) in a report issued on Thursday, Benzinga reports. Truist Financial currently has a $66.00 price target on the pharmacy operator's stock, down from their prior price target of $90.00.

CVS has been the subject of several other reports. Royal Bank of Canada decreased their price objective on CVS Health from $86.00 to $84.00 and set an outperform rating for the company in a report on Thursday, February 8th. Mizuho decreased their price target on shares of CVS Health from $86.00 to $72.00 and set a buy rating for the company in a research note on Thursday. Cantor Fitzgerald lowered shares of CVS Health from an overweight rating to a neutral rating and dropped their price objective for the company from $87.00 to $58.00 in a research note on Wednesday. UBS Group downgraded shares of CVS Health from a buy rating to a neutral rating and decreased their target price for the stock from $85.00 to $60.00 in a research note on Thursday. Finally, Leerink Partnrs restated an outperform rating on shares of CVS Health in a research report on Monday, February 26th. Seven investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of Moderate Buy and an average target price of $80.35.

CVS Health Stock Down 2.1 %

CVS traded down $1.16 on Thursday, reaching $55.15. The company's stock had a trading volume of 37,808,624 shares, compared to its average volume of 11,608,837. The company has a quick ratio of 0.63, a current ratio of 0.86 and a debt-to-equity ratio of 0.77. CVS Health has a fifty-two week low of $53.70 and a fifty-two week high of $83.25. The stock has a 50 day moving average of $73.19 and a two-hundred day moving average of $73.37. The company has a market capitalization of $69.52 billion, a price-to-earnings ratio of 8.54, a P/E/G ratio of 0.90 and a beta of 0.56.

CVS Health (NYSE:CVS - Get Free Report) last issued its earnings results 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). CVS Health had a net margin of 2.33% and a return on equity of 15.25%. The company had revenue of $88.44 billion during the quarter, compared to analyst estimates of $89.33 billion. During the same quarter in the previous year, the company posted $2.20 EPS. The company's quarterly revenue was up 3.7% on a year-over-year basis. As a group, analysts forecast that CVS Health will post 8.31 EPS for the current fiscal year.

CVS Health Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, May 1st. Investors of record on Monday, April 22nd were paid a $0.665 dividend. This represents a $2.66 annualized dividend and a dividend yield of 4.82%. The ex-dividend date was Friday, April 19th. CVS Health's dividend payout ratio (DPR) is 41.18%.

Insiders Place Their Bets

In related news, Director Edward J. Ludwig purchased 1,000 shares of CVS Health 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 transaction, the director now owns 21,630 shares in the company, valued at $1,165,424.40. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In other CVS Health news, EVP Prem S. Shah sold 29,473 shares of the firm's stock in a transaction dated Friday, February 16th. The shares were sold at an average price of $76.95, for a total transaction of $2,267,947.35. Following the completion of the transaction, the executive vice president now directly owns 39,765 shares in the company, valued at approximately $3,059,916.75. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Edward J. Ludwig bought 1,000 shares of the business's stock in a transaction on Thursday, May 2nd. The shares were acquired 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 disclosure for this purchase can be found here. 0.24% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the business. Atticus Wealth Management LLC increased its position in 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 buying an additional 219 shares in the last quarter. USA Financial Formulas increased 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 in the last quarter. Ables Iannone Moore & Associates Inc. acquired a new position in CVS Health in the 4th quarter valued at about $32,000. Creekmur Asset Management LLC purchased a new position in CVS Health in the 4th quarter valued at about $34,000. Finally, Steph & Co. grew its holdings in shares of CVS Health by 192.0% during the first quarter. Steph & Co. now owns 438 shares of the pharmacy operator's stock worth $35,000 after buying an additional 288 shares in the last quarter. 80.66% of the stock is owned by hedge funds and other institutional investors.

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.