CVS Health (NYSE:CVS) Given New $63.00 Price Target at Barclays

CVS Health (NYSE:CVS) had its price objective decreased by Barclays from $78.00 to $63.00 in a research note issued to investors on Thursday morning, Benzinga reports. Barclays currently has an equal weight rating on the pharmacy operator’s stock.

Several other equities research analysts also recently issued reports on CVS. StockNews.com downgraded CVS Health from a buy rating to a hold rating in a research report on Thursday, February 15th. SVB Leerink reissued a market perform rating and set a $60.00 price objective (down previously from $87.00) on shares of CVS Health in a report on Wednesday. Truist Financial reaffirmed a buy rating and set a $66.00 target price (down previously from $90.00) on shares of CVS Health in a report on Thursday. Piper Sandler increased their price target on shares of CVS Health from $93.00 to $94.00 and gave the stock an overweight rating in a report on Friday, March 15th. Finally, Wells Fargo & Company reduced their price objective on shares of CVS Health from $83.00 to $76.00 and set an equal weight rating for the company in a research note on Monday, April 8th. Eight research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of Moderate Buy and an average target price of $80.35.

CVS Health Stock Performance

Shares of CVS stock traded up $0.75 on Thursday, hitting $55.90. 23,946,075 shares of the stock were exchanged, compared to its average volume of 12,498,538. CVS Health has a one year low of $53.70 and a one year high of $83.25. The firm’s 50 day moving average is $72.77 and its two-hundred day moving average is $73.26. The firm has a market capitalization of $70.18 billion, a PE ratio of 9.82, a P/E/G ratio of 0.86 and a beta of 0.56. The company has a current ratio of 0.81, a quick ratio of 0.63 and a debt-to-equity ratio of 0.78.

CVS Health (NYSE:CVS) last issued its earnings results on Wednesday, May 1st. The pharmacy operator reported $1.31 earnings per share for the quarter, missing analysts’ consensus estimates of $1.69 by ($0.38). CVS Health had a return on equity of 13.53% and a net margin of 2.03%. 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 prior year, the business earned $2.20 EPS. CVS Health’s revenue for the quarter was up 3.7% compared to the same quarter last year. Sell-side analysts expect that CVS Health will post 7.03 earnings per share for the current fiscal year.

CVS Health Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, May 1st. Stockholders of record on Monday, April 22nd were given a dividend of $0.665 per share. The ex-dividend date of this dividend was Friday, April 19th. This represents a $2.66 annualized dividend and a dividend yield of 4.76%. CVS Health’s dividend payout ratio (DPR) is presently 46.75%.

Insider Activity at CVS Health

In other CVS Health news, Director Edward J. Ludwig purchased 1,000 shares of CVS Health stock in a transaction on Thursday, May 2nd. The shares were acquired at an average cost of $53.88 per share, for a total transaction of $53,880.00. Following the completion of the transaction, the director now directly owns 21,630 shares of the company’s stock, valued at $1,165,424.40. The purchase was disclosed in a filing with the SEC, which is available at this link. In other news, EVP Prem S. Shah sold 29,473 shares of the business’s stock in a transaction dated Friday, February 16th. The stock was 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 approximately $3,059,916.75. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Edward J. Ludwig purchased 1,000 shares of CVS Health stock in a transaction that occurred on Thursday, May 2nd. The shares were bought at an average price of $53.88 per share, for a total transaction of $53,880.00. Following the completion of the transaction, the director now owns 21,630 shares in the company, valued at $1,165,424.40. The disclosure for this purchase can be found here. 0.24% of the stock is currently owned by insiders.

Institutional Trading of CVS Health

Several hedge funds and other institutional investors have recently bought and sold shares of CVS. Atticus Wealth Management LLC raised its holdings in CVS Health by 149.0% during the 4th quarter. Atticus Wealth Management LLC now owns 366 shares of the pharmacy operator’s stock valued at $29,000 after buying an additional 219 shares during the last quarter. USA Financial Formulas raised its stake in shares of CVS Health by 573.2% during the fourth quarter. USA Financial Formulas now owns 377 shares of the pharmacy operator’s stock valued at $30,000 after acquiring an additional 321 shares during the last quarter. Cornerstone Planning Group LLC grew its stake in shares of CVS Health by 111.5% in the third quarter. Cornerstone Planning Group LLC now owns 461 shares of the pharmacy operator’s stock worth $32,000 after purchasing an additional 243 shares during the last quarter. Ables Iannone Moore & Associates Inc. purchased a new position in CVS Health during the 4th quarter valued at about $32,000. Finally, Creekmur Asset Management LLC bought a new position in shares of CVS Health during the fourth quarter valued at approximately $34,000. 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.