CVS Health (NYSE:CVS) Stock Price Down 0.6%

CVS Health Co. (NYSE:CVS) was down 0.6% on Monday . The stock traded as low as $55.33 and last traded at $55.55. Approximately 4,292,601 shares were traded during trading, a decline of 63% from the average daily volume of 11,662,083 shares. The stock had previously closed at $55.90.

Analysts Set New Price Targets

Several equities analysts have weighed in on CVS shares. Bank of America cut their target price on CVS Health from $95.00 to $77.00 and set a “buy” rating on the stock in a report on Thursday. SVB Leerink restated a “market perform” rating and set a $60.00 target price (down from $87.00) on shares of CVS Health in a report on Wednesday, May 1st. Truist Financial restated a “buy” rating and set a $66.00 target price (down from $90.00) on shares of CVS Health in a report on Thursday. Mizuho cut 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. Finally, Cantor Fitzgerald lowered CVS Health from an “overweight” rating to a “neutral” rating and cut their target price for the company from $87.00 to $58.00 in a report on Wednesday, May 1st. Eight investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $80.35.

CVS Health Trading Up 0.1 %

The firm has a market capitalization of $70.26 billion, a price-to-earnings ratio of 9.76, a P/E/G ratio of 0.88 and a beta of 0.56. The business has a 50-day moving average of $72.77 and a two-hundred day moving average of $73.29. The company has a quick ratio of 0.61, a current ratio of 0.81 and a debt-to-equity ratio of 0.78.

CVS Health (NYSE:CVS) last announced its quarterly earnings results on Wednesday, May 1st. The pharmacy operator reported $1.31 EPS for the quarter, missing analysts’ consensus estimates of $1.69 by ($0.38). The business had revenue of $88.44 billion for the quarter, compared to the consensus estimate of $89.33 billion. CVS Health had a return on equity of 13.53% and a net margin of 2.03%. The firm’s revenue for the quarter was up 3.7% on a year-over-year basis. During the same quarter in the prior year, the business earned $2.20 EPS. Research analysts predict that CVS Health Co. will post 7.03 EPS for the current fiscal year.

CVS Health Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, May 1st. Shareholders of record on Monday, April 22nd were paid a dividend of $0.665 per share. This represents a $2.66 dividend on an annualized basis and a yield of 4.75%. The ex-dividend date of this dividend was Friday, April 19th. CVS Health’s dividend payout ratio is 46.75%.

Insiders Place Their Bets

In other news, EVP Prem S. Shah sold 29,473 shares of CVS Health stock in a transaction that occurred on Friday, February 16th. The shares were sold at an average price of $76.95, for a total value of $2,267,947.35. Following the completion of the transaction, the executive vice president now 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 is accessible through this hyperlink. In other news, Director Edward J. Ludwig bought 1,000 shares of the business’s stock in a transaction dated Thursday, May 2nd. The stock was bought at an average price of $53.88 per share, for a total transaction of $53,880.00. Following the completion of the purchase, the director now 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 the SEC website. Also, EVP Prem S. Shah sold 29,473 shares of CVS Health stock in a transaction that occurred on 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 owns 39,765 shares of the company’s stock, valued at approximately $3,059,916.75. The disclosure for this sale can be found here. Corporate insiders own 0.24% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the stock. Bryn Mawr Capital Management LLC raised its position in CVS Health by 74.0% in the 3rd quarter. Bryn Mawr Capital Management LLC now owns 43,213 shares of the pharmacy operator’s stock worth $3,017,000 after purchasing an additional 18,385 shares during the last quarter. Value Partners Investments Inc. raised its position in CVS Health by 26.5% in the 3rd quarter. Value Partners Investments Inc. now owns 991,601 shares of the pharmacy operator’s stock worth $69,261,000 after purchasing an additional 207,702 shares during the last quarter. Sonora Investment Management Group LLC raised its position in CVS Health by 1.6% in the 3rd quarter. Sonora Investment Management Group LLC now owns 50,488 shares of the pharmacy operator’s stock worth $3,525,000 after purchasing an additional 774 shares during the last quarter. Checchi Capital Advisers LLC grew its holdings in CVS Health by 2.3% during the 3rd quarter. Checchi Capital Advisers LLC now owns 10,405 shares of the pharmacy operator’s stock worth $726,000 after acquiring an additional 233 shares during the period. Finally, Personal CFO Solutions LLC grew its holdings in CVS Health by 2.6% during the 3rd quarter. Personal CFO Solutions LLC now owns 19,355 shares of the pharmacy operator’s stock worth $1,351,000 after acquiring an additional 491 shares during the period. Institutional investors own 80.66% of the company’s stock.

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.