CVS Health (NYSE:CVS) Hits New 1-Year Low – Here’s What Happened

CVS Health Co. (NYSE:CVS)’s stock price hit a new 52-week low during mid-day trading on Wednesday . The stock traded as low as $52.55 and last traded at $52.72, with a volume of 5050176 shares traded. The stock had previously closed at $55.15.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on the stock. TD Cowen upped their price target on shares of CVS Health from $73.00 to $80.00 and gave the company a “buy” rating in a research report on Monday, November 25th. Royal Bank of Canada decreased their price target on shares of CVS Health from $68.00 to $58.00 and set an “outperform” rating on the stock in a research report on Friday, November 15th. UBS Group boosted their price objective on shares of CVS Health from $60.00 to $62.00 and gave the company a “neutral” rating in a research report on Thursday, November 7th. Truist Financial reaffirmed a “buy” rating and issued a $67.00 target price (down from $76.00) on shares of CVS Health in a report on Wednesday, November 20th. Finally, Deutsche Bank Aktiengesellschaft raised CVS Health from a “hold” rating to a “buy” rating and set a $66.00 price target for the company in a report on Tuesday, December 3rd. One analyst has rated the stock with a sell rating, six have given a hold rating and fourteen have assigned a buy rating to the company. According to data from MarketBeat, CVS Health currently has an average rating of “Moderate Buy” and an average price target of $70.50.

CVS Health Stock Down 5.2 %

The business has a 50-day moving average of $59.05 and a 200 day moving average of $58.77. The company has a market capitalization of $65.76 billion, a PE ratio of 13.38, a P/E/G ratio of 0.95 and a beta of 0.54. The company has a debt-to-equity ratio of 0.80, a current ratio of 0.80 and a quick ratio of 0.59.

CVS Health (NYSE:CVS) last issued its quarterly earnings data on Wednesday, November 6th. The pharmacy operator reported $1.09 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.08 by $0.01. CVS Health had a return on equity of 10.72% and a net margin of 1.36%. The business had revenue of $95.43 billion for the quarter, compared to analysts’ expectations of $92.72 billion. During the same period in the prior year, the firm earned $2.21 EPS. The company’s revenue for the quarter was up 6.3% on a year-over-year basis. Equities research analysts predict that CVS Health Co. will post 5.32 earnings per share for the current year.

CVS Health Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, November 1st. Investors of record on Monday, October 21st were issued a $0.665 dividend. This represents a $2.66 dividend on an annualized basis and a dividend yield of 5.09%. The ex-dividend date was Monday, October 21st. CVS Health’s payout ratio is 67.51%.

Institutional Investors Weigh In On CVS Health

Several large investors have recently added to or reduced their stakes in CVS. Pzena Investment Management LLC grew its holdings in CVS Health by 132.9% during the 2nd quarter. Pzena Investment Management LLC now owns 12,936,388 shares of the pharmacy operator’s stock valued at $764,023,000 after purchasing an additional 7,382,931 shares during the last quarter. Hotchkis & Wiley Capital Management LLC raised its holdings in shares of CVS Health by 34.8% in the third quarter. Hotchkis & Wiley Capital Management LLC now owns 11,897,034 shares of the pharmacy operator’s stock worth $748,085,000 after buying an additional 3,071,613 shares during the period. State Street Corp lifted its stake in shares of CVS Health by 3.6% during the 3rd quarter. State Street Corp now owns 56,527,909 shares of the pharmacy operator’s stock worth $3,554,475,000 after acquiring an additional 1,989,066 shares during the last quarter. TOMS Capital Investment Management LP purchased a new position in CVS Health during the 3rd quarter valued at $121,987,000. Finally, Pathway Financial Advisers LLC grew its position in CVS Health by 5,864.2% in the 3rd quarter. Pathway Financial Advisers LLC now owns 1,730,343 shares of the pharmacy operator’s stock valued at $108,804,000 after acquiring an additional 1,701,331 shares during the last quarter. 80.66% of the stock is owned by 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.