CVS Health (NYSE:CVS) Shares Down 0.5%

CVS Health Co. (NYSE:CVSGet Free Report)’s stock price fell 0.5% during mid-day trading on Thursday . The stock traded as low as $59.07 and last traded at $59.70. 2,749,673 shares traded hands during mid-day trading, a decline of 77% from the average session volume of 12,079,532 shares. The stock had previously closed at $59.99.

Analyst Ratings Changes

Several research firms have recently issued reports on CVS. Truist Financial reissued a “buy” rating and issued a $66.00 price target (down previously from $90.00) on shares of CVS Health in a research note on Thursday, May 2nd. Robert W. Baird started coverage on CVS Health in a research note on Thursday, May 30th. They set a “neutral” rating and a $61.00 target price for the company. SVB Leerink reaffirmed a “market perform” rating and set a $60.00 target price (down previously from $87.00) on shares of CVS Health in a research note on Wednesday, May 1st. Baird R W raised CVS Health to a “hold” rating in a research note on Thursday, May 30th. Finally, UBS Group cut CVS Health from a “buy” rating to a “neutral” rating and decreased their target price for the company from $85.00 to $60.00 in a research note on Thursday, May 2nd. Eleven equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $75.05.

View Our Latest Research Report on CVS

CVS Health Price Performance

The stock has a 50 day moving average price of $61.51 and a two-hundred day moving average price of $70.90. 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 company has a market capitalization of $75.60 billion, a PE ratio of 10.58, a P/E/G ratio of 0.58 and a beta of 0.53.

CVS Health (NYSE:CVSGet Free Report) last issued its quarterly earnings data 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 company had revenue of $88.44 billion for 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%. The business’s revenue was up 3.7% on a year-over-year basis. During the same period in the prior year, the company posted $2.20 EPS. Equities analysts forecast that CVS Health Co. will post 7.02 earnings per share for the current year.

CVS Health Announces Dividend

The business also recently disclosed 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 dividend on an annualized basis and a dividend yield of 4.42%. The ex-dividend date of this dividend was Friday, April 19th. CVS Health’s dividend payout ratio is 46.75%.

Insider Activity

In other CVS Health news, Director Edward J. Ludwig bought 1,000 shares of the stock in a transaction on Thursday, May 2nd. The shares were purchased at an average price 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 approximately $1,165,424.40. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 0.24% of the stock is currently owned by insiders.

Institutional Trading of CVS Health

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Atticus Wealth Management LLC grew its holdings in shares of CVS Health by 149.0% during the 4th quarter. Atticus Wealth Management LLC now owns 366 shares of the pharmacy operator’s stock worth $29,000 after purchasing an additional 219 shares in the last quarter. USA Financial Formulas lifted its position in shares of CVS Health by 573.2% during the 4th quarter. USA Financial Formulas now owns 377 shares of the pharmacy operator’s stock worth $30,000 after buying an additional 321 shares during the period. Ables Iannone Moore & Associates Inc. bought a new position in shares of CVS Health during the 4th quarter worth approximately $32,000. Creekmur Asset Management LLC bought a new position in shares of CVS Health during the 4th quarter worth approximately $34,000. Finally, Steph & Co. lifted its position in shares of CVS Health by 192.0% during the 1st quarter. Steph & Co. now owns 438 shares of the pharmacy operator’s stock worth $35,000 after buying an additional 288 shares during the period. Institutional investors and hedge funds own 80.66% of the company’s stock.

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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