CVS Health (NYSE:CVS) Trading 0.5% Higher

CVS Health Co. (NYSE:CVS) shares traded up 0.5% during mid-day trading on Thursday . The stock traded as high as $55.20 and last traded at $55.19. 1,880,682 shares were traded during mid-day trading, a decline of 84% from the average session volume of 11,779,099 shares. The stock had previously closed at $54.91.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on the stock. Bank of America decreased their target price on shares of CVS Health from $95.00 to $77.00 and set a “buy” rating on the stock in a research report on Thursday, May 2nd. StockNews.com cut shares of CVS Health from a “buy” rating to a “hold” rating in a research report on Thursday, February 15th. UBS Group cut shares of CVS Health from a “buy” rating to a “neutral” rating and reduced their price target for the company from $85.00 to $60.00 in a research report on Thursday, May 2nd. TD Cowen cut shares of CVS Health from a “buy” rating to a “hold” rating and reduced their price target for the company from $99.00 to $59.00 in a research report on Tuesday. Finally, Argus reduced their price target on shares of CVS Health from $100.00 to $80.00 and set a “buy” rating on the stock in a research report on Wednesday. Nine 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 an average rating of “Moderate Buy” and a consensus target price of $76.75.

CVS Health Trading Up 1.4 %

The company has a quick ratio of 0.61, a current ratio of 0.81 and a debt-to-equity ratio of 0.78. The business’s 50 day moving average is $71.54 and its 200-day moving average is $72.96. The firm has a market cap of $69.89 billion, a P/E ratio of 9.79, a price-to-earnings-growth ratio of 0.88 and a beta of 0.56.

CVS Health (NYSE:CVS) last released its earnings results on Wednesday, May 1st. The pharmacy operator reported $1.31 earnings per share for the quarter, missing the consensus estimate of $1.69 by ($0.38). CVS Health had a net margin of 2.03% and a return on equity of 13.53%. The business 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 firm earned $2.20 EPS. The firm’s revenue for the quarter was up 3.7% on a year-over-year basis. As a group, analysts forecast that CVS Health Co. will post 7.03 earnings per share for the current fiscal year.

CVS Health Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, May 1st. Stockholders of record on Monday, April 22nd were issued a dividend of $0.665 per share. This represents a $2.66 annualized dividend and a dividend yield of 4.78%. The ex-dividend date of this dividend was Friday, April 19th. CVS Health’s dividend payout ratio (DPR) is 46.75%.

Insider Activity

In other news, EVP Prem S. Shah sold 29,473 shares of the business’s stock in a transaction 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 $3,059,916.75. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. In related news, EVP Prem S. Shah sold 29,473 shares of the company’s stock in a transaction dated 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 sale, the executive vice president now owns 39,765 shares of the company’s stock, valued at $3,059,916.75. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Edward J. Ludwig acquired 1,000 shares of CVS Health stock in a transaction that occurred on Thursday, May 2nd. The stock was bought at an average cost of $53.88 per share, with a total value of $53,880.00. Following the acquisition, 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. Corporate insiders own 0.24% of the company’s stock.

Institutional Investors Weigh In On CVS Health

Hedge funds and other institutional investors have recently bought and sold shares of the business. Bryn Mawr Capital Management LLC raised its position in CVS Health by 74.0% in the third quarter. Bryn Mawr Capital Management LLC now owns 43,213 shares of the pharmacy operator’s stock worth $3,017,000 after acquiring an additional 18,385 shares in the last quarter. Sonora Investment Management Group LLC increased its holdings in shares of 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 valued at $3,525,000 after purchasing an additional 774 shares during the period. Checchi Capital Advisers LLC increased its holdings in shares of CVS Health by 2.3% in the 3rd quarter. Checchi Capital Advisers LLC now owns 10,405 shares of the pharmacy operator’s stock valued at $726,000 after purchasing an additional 233 shares during the period. Personal CFO Solutions LLC increased its holdings in shares of CVS Health by 2.6% in the 3rd quarter. Personal CFO Solutions LLC now owns 19,355 shares of the pharmacy operator’s stock valued at $1,351,000 after purchasing an additional 491 shares during the period. Finally, Riverpoint Wealth Management Holdings LLC bought a new stake in shares of CVS Health in the 4th quarter valued at approximately $218,000. 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.