CVS Health (NYSE:CVS – Free Report) had its price target reduced by JPMorgan Chase & Co. from $101.00 to $86.00 in a research note published on Thursday, Benzinga reports. They currently have an overweight rating on the pharmacy operator’s stock.
Several other equities analysts have also issued reports on CVS. Leerink Partnrs lowered shares of CVS Health from an outperform rating to a market perform rating in a report on Wednesday, May 1st. The Goldman Sachs Group cut their price objective on shares of CVS Health from $85.00 to $74.00 and set a buy rating on the stock in a research report on Thursday, May 2nd. Barclays dropped their price target on CVS Health from $78.00 to $63.00 and set an equal weight rating on the stock in a research note on Thursday, May 2nd. StockNews.com lowered CVS Health from a buy rating to a hold rating in a report on Thursday, February 15th. Finally, 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. Ten analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of Moderate Buy and an average price target of $75.05.
Check Out Our Latest Stock Report on CVS
CVS Health Stock Up 4.4 %
CVS Health stock opened at $56.04 on Thursday. The firm has a market cap of $70.35 billion, a price-to-earnings ratio of 9.85, a PEG ratio of 0.51 and a beta of 0.56. CVS Health has a 52-week low of $52.77 and a 52-week high of $83.25. 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 50 day moving average price of $65.25 and a two-hundred day moving average price of $71.53.
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). The firm had revenue of $88.44 billion during the quarter, compared to analyst estimates of $89.33 billion. CVS Health had a net margin of 2.03% and a return on equity of 13.53%. CVS Health’s quarterly revenue was up 3.7% on a year-over-year basis. During the same quarter in the previous year, the firm earned $2.20 EPS. Equities analysts predict that CVS Health will post 7.02 EPS for the current year.
CVS Health Announces Dividend
The firm also recently announced a quarterly dividend, which was paid on Wednesday, May 1st. Stockholders of record on Monday, April 22nd were given a dividend of $0.665 per share. This represents a $2.66 annualized dividend and a dividend yield of 4.75%. The ex-dividend date of this dividend was Friday, April 19th. CVS Health’s dividend payout ratio is presently 46.75%.
Insider Activity at CVS Health
In other news, Director Edward J. Ludwig acquired 1,000 shares of CVS Health stock in a transaction on Thursday, May 2nd. The stock was acquired at an average cost of $53.88 per share, with a total value of $53,880.00. Following the completion of the acquisition, the director now owns 21,630 shares in the company, valued at $1,165,424.40. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 0.24% of the stock is owned by company insiders.
Institutional Investors Weigh In On CVS Health
Institutional investors have recently added to or reduced their stakes in the business. Atticus Wealth Management LLC boosted 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 worth $29,000 after buying an additional 219 shares during the period. USA Financial Formulas grew its position in shares of CVS Health by 573.2% in the fourth quarter. USA Financial Formulas now owns 377 shares of the pharmacy operator’s stock valued at $30,000 after purchasing an additional 321 shares in the last quarter. Cornerstone Planning Group LLC raised its stake 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 valued at $32,000 after purchasing an additional 243 shares during the period. Ables Iannone Moore & Associates Inc. purchased a new stake in CVS Health during the 4th quarter worth about $32,000. Finally, Creekmur Asset Management LLC purchased a new stake in shares of CVS Health in the fourth quarter worth about $34,000. 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.
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