CVS Health (NYSE:CVS) Downgraded to Buy Rating by Wall Street Zen

Wall Street Zen downgraded shares of CVS Health (NYSE:CVS) from a strong-buy rating to a buy rating in a report published on Saturday morning,Wall Street Zen reports.

Other equities research analysts also recently issued research reports about the stock. Cantor Fitzgerald reissued an “overweight” rating on shares of CVS Health in a research report on Friday. HSBC reaffirmed a “hold” rating and issued a $103.00 price objective on shares of CVS Health in a research report on Monday, July 6th. JPMorgan Chase & Co. lifted their target price on CVS Health from $111.00 to $118.00 and gave the stock an “overweight” rating in a report on Wednesday, August 12th. BMO Capital Markets set a $112.00 price target on CVS Health in a research note on Wednesday. Finally, Argus upped their price target on CVS Health from $104.00 to $114.00 and gave the company a “buy” rating in a report on Wednesday, August 19th. Twenty-two research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $107.24.

CVS Health Stock Performance

Shares of CVS Health stock opened at $94.62 on Friday. CVS Health has a 1 year low of $69.51 and a 1 year high of $110.68. The firm’s 50-day moving average is $99.92 and its 200 day moving average is $90.77. The stock has a market cap of $121.02 billion, a price-to-earnings ratio of 25.03, a PEG ratio of 0.92 and a beta of 0.59. The company has a debt-to-equity ratio of 0.74, a current ratio of 0.87 and a quick ratio of 0.66.

CVS Health (NYSE:CVS) last released its quarterly earnings data on Wednesday, August 5th. The pharmacy operator reported $2.58 earnings per share for the quarter, beating analysts’ consensus estimates of $1.87 by $0.71. The business had revenue of $106.10 billion during the quarter, compared to analyst estimates of $100.03 billion. CVS Health had a net margin of 1.18% and a return on equity of 13.12%. CVS Health’s revenue was up 7.3% compared to the same quarter last year. During the same period last year, the business earned $1.81 EPS. CVS Health has set its FY 2026 guidance at 7.900-8.100 EPS. Sell-side analysts anticipate that CVS Health will post 8.02 EPS for the current fiscal year.

CVS Health Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, August 3rd. Shareholders of record on Thursday, July 23rd were given a $0.665 dividend. This represents a $2.66 dividend on an annualized basis and a yield of 2.8%. The ex-dividend date of this dividend was Thursday, July 23rd. CVS Health’s payout ratio is 70.37%.

Hedge Funds Weigh In On CVS Health

Several hedge funds and other institutional investors have recently modified their holdings of CVS. The Manufacturers Life Insurance Company boosted its stake in shares of CVS Health by 5.8% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 1,287,441 shares of the pharmacy operator’s stock worth $133,186,000 after buying an additional 70,197 shares during the last quarter. Tortoise Investment Management LLC purchased a new position in CVS Health in the second quarter worth about $254,000. Sequoia Financial Advisors LLC grew its stake in shares of CVS Health by 3.0% during the 2nd quarter. Sequoia Financial Advisors LLC now owns 55,759 shares of the pharmacy operator’s stock valued at $5,768,000 after purchasing an additional 1,646 shares during the period. Tidal Investments LLC increased its position in shares of CVS Health by 14.6% during the 2nd quarter. Tidal Investments LLC now owns 235,491 shares of the pharmacy operator’s stock valued at $24,362,000 after purchasing an additional 30,024 shares during the last quarter. Finally, MCF Advisors LLC lifted its stake in shares of CVS Health by 5.3% in the 2nd quarter. MCF Advisors LLC now owns 8,375 shares of the pharmacy operator’s stock worth $866,000 after purchasing an additional 420 shares during the period. 80.66% of the stock is owned by institutional investors.

CVS Health Company Profile

CVS Health Corporation is an American health care company headquartered in Woonsocket, Rhode Island. Founded in 1963 as Consumer Value Stores, the company has expanded from a chain of retail pharmacies into an integrated health care organization serving consumers, employers, health plans, government programs and health care providers.

CVS Health operates through several major businesses. Its Health Care Benefits segment, anchored by Aetna, provides health insurance products and related services for employers, individuals, Medicare and Medicaid members.