CVS Health (NYSE:CVS) Trading Down 2.2%

Shares of CVS Health Co. (NYSE:CVSGet Free Report) traded down 2.2% during mid-day trading on Friday . The stock traded as low as $59.16 and last traded at $59.71. 4,356,758 shares traded hands during trading, a decline of 64% from the average session volume of 12,107,900 shares. The stock had previously closed at $61.03.

Analyst Ratings Changes

Several research analysts have recently issued reports on the stock. Leerink Partnrs lowered shares of CVS Health from an “outperform” rating to a “market perform” rating in a research note on Wednesday, May 1st. JPMorgan Chase & Co. reduced their price objective on shares of CVS Health from $101.00 to $86.00 and set an “overweight” rating for the company in a research report on Thursday, May 30th. Cantor Fitzgerald reiterated a “neutral” rating and set a $58.00 price objective on shares of CVS Health in a research report on Wednesday. Truist Financial reissued a “buy” rating and issued a $66.00 target price (down previously from $90.00) on shares of CVS Health in a research report on Thursday, May 2nd. Finally, TD Cowen downgraded shares of CVS Health from a “buy” rating to a “hold” rating and cut their price objective for the company from $99.00 to $59.00 in a report on Tuesday, May 7th. Eleven investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $75.05.

Get Our Latest Research Report on CVS

CVS Health Stock Down 1.3 %

The company has a current ratio of 0.81, a quick ratio of 0.61 and a debt-to-equity ratio of 0.78. The stock’s 50-day moving average price is $61.80 and its 200-day moving average price is $70.96. The stock has a market cap of $75.61 billion, a price-to-earnings ratio of 10.49, a P/E/G ratio of 0.57 and a beta of 0.53.

CVS Health (NYSE:CVSGet Free Report) last issued its quarterly 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). CVS Health had a return on equity of 13.53% and a net margin of 2.03%. The business had revenue of $88.44 billion for the quarter, compared to analyst estimates of $89.33 billion. During the same quarter in the previous year, the business posted $2.20 earnings per share. The business’s revenue was up 3.7% on a year-over-year basis. On average, sell-side analysts expect that CVS Health Co. will post 7.02 earnings per share for the current year.

CVS Health Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, May 1st. Stockholders of record on Monday, April 22nd were paid a $0.665 dividend. This represents a $2.66 annualized dividend and a dividend yield of 4.42%. The ex-dividend date was Friday, April 19th. CVS Health’s dividend payout ratio (DPR) is presently 46.75%.

Insider Activity at CVS Health

In other news, Director Edward J. Ludwig purchased 1,000 shares of the company’s stock in a transaction that occurred on Thursday, May 2nd. The shares were bought at an average cost 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 $1,165,424.40. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.24% of the stock is owned by insiders.

Institutional Investors Weigh In On CVS Health

Large investors have recently made changes to their positions in the business. Atticus Wealth Management LLC raised its position in CVS Health by 149.0% in the fourth quarter. Atticus Wealth Management LLC now owns 366 shares of the pharmacy operator’s stock worth $29,000 after acquiring an additional 219 shares during the period. USA Financial Formulas lifted its stake in 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 during the last quarter. Ables Iannone Moore & Associates Inc. bought a new position in CVS Health during the fourth quarter valued at $32,000. Creekmur Asset Management LLC purchased a new stake in CVS Health in the fourth quarter worth $34,000. Finally, Steph & Co. raised its stake in shares of CVS Health by 192.0% in the first quarter. Steph & Co. now owns 438 shares of the pharmacy operator’s stock valued at $35,000 after buying an additional 288 shares during the period. 80.66% of the stock is owned by hedge funds and other institutional investors.

CVS Health Company Profile

(Get Free Report)

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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