Truist Financial reissued their buy rating on shares of CVS Health (NYSE:CVS – Free Report) in a research note released on Thursday morning, Benzinga reports. They currently have a $66.00 price target on the pharmacy operator’s stock, down from their prior price target of $90.00.
Several other analysts have also issued reports on the company. Leerink Partnrs reiterated an outperform rating on shares of CVS Health in a report on Monday, February 26th. Mizuho dropped their target price on CVS Health from $86.00 to $72.00 and set a buy rating on the stock in a report on Thursday. SVB Leerink reiterated a market perform rating and set a $60.00 target price (down previously from $87.00) on shares of CVS Health in a report on Wednesday, May 1st. Barclays started coverage on CVS Health in a research note on Wednesday, March 6th. They issued an equal weight rating and a $78.00 price objective on the stock. Finally, Royal Bank of Canada dropped their price objective on CVS Health from $86.00 to $84.00 and set an outperform rating on the stock in a research note on Thursday, February 8th. Eight investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. According to MarketBeat, CVS Health currently has a consensus rating of Moderate Buy and an average target price of $80.35.
View Our Latest Analysis on CVS Health
CVS Health Stock Performance
Shares of CVS Health stock opened at $55.90 on Thursday. The firm has a market cap of $70.18 billion, a price-to-earnings ratio of 9.82, a price-to-earnings-growth ratio of 0.88 and a beta of 0.56. The stock’s 50-day moving average is $72.77 and its 200-day moving average is $73.29. CVS Health has a one year low of $53.70 and a one year 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 released 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 return on equity of 13.53% and a net margin of 2.03%. 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 previous year, the company posted $2.20 EPS. The business’s revenue was up 3.7% on a year-over-year basis. Equities analysts predict that CVS Health will post 7.03 earnings per share for the current fiscal year.
CVS Health Announces Dividend
The business also recently declared a quarterly dividend, which was paid on Wednesday, May 1st. Investors of record on Monday, April 22nd were given a dividend of $0.665 per share. This represents a $2.66 dividend on an annualized basis and a yield of 4.76%. The ex-dividend date of this dividend was Friday, April 19th. CVS Health’s dividend payout ratio is currently 46.75%.
Insider Buying and Selling
In related news, Director Edward J. Ludwig purchased 1,000 shares of CVS Health stock in a transaction that occurred 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 completion of the transaction, the director now directly owns 21,630 shares of the company’s stock, valued at approximately $1,165,424.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other CVS Health news, EVP Prem S. Shah sold 29,473 shares of the company’s stock in a transaction 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 completion of the sale, the executive vice president now directly owns 39,765 shares in the company, valued at $3,059,916.75. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 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 completion of the purchase, the director now directly owns 21,630 shares of the company’s stock, valued at $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 Investors Weigh In On CVS Health
Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Atticus Wealth Management LLC lifted its stake in shares of 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 lifted its stake in shares of CVS Health by 573.2% in the 4th quarter. USA Financial Formulas now owns 377 shares of the pharmacy operator’s stock valued at $30,000 after acquiring an additional 321 shares during the last quarter. Cornerstone Planning Group LLC lifted its stake in shares of CVS Health by 111.5% in the 3rd quarter. Cornerstone Planning Group LLC now owns 461 shares of the pharmacy operator’s stock valued at $32,000 after acquiring an additional 243 shares during the last quarter. Ables Iannone Moore & Associates Inc. bought a new position in shares of CVS Health in the 4th quarter valued at $32,000. Finally, Creekmur Asset Management LLC bought a new position in shares of CVS Health in the 4th quarter valued at $34,000. 80.66% of the stock is currently owned by 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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