CVS Health (NYSE:CVS) Shares Down 0%

CVS Health Co. (NYSE:CVSGet Free Report) traded down 0% during mid-day trading on Wednesday . The stock traded as low as $55.69 and last traded at $55.99. 4,323,300 shares traded hands during trading, a decline of 63% from the average session volume of 11,796,969 shares. The stock had previously closed at $56.00.

Wall Street Analysts Forecast Growth

Several research firms recently commented on CVS. Argus cut their price target on CVS Health from $100.00 to $80.00 and set a “buy” rating for the company in a report on Wednesday, May 8th. Piper Sandler raised their target price on CVS Health from $93.00 to $94.00 and gave the stock an “overweight” rating in a research note on Friday, March 15th. Bank of America lowered their price target on CVS Health from $95.00 to $77.00 and set a “buy” rating for the company in a report on Thursday, May 2nd. Wells Fargo & Company lowered their target price on shares of CVS Health from $76.00 to $60.00 and set an “equal weight” rating for the company in a research note on Tuesday, May 7th. Finally, Mizuho decreased their price objective on shares of CVS Health from $86.00 to $72.00 and set a “buy” rating on the stock in a report on Thursday, May 2nd. Nine equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $76.75.

View Our Latest Analysis on CVS

CVS Health Price Performance

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 firm has a market capitalization of $70.64 billion, a price-to-earnings ratio of 9.81, a P/E/G ratio of 0.89 and a beta of 0.56. The company has a fifty day moving average price of $70.11 and a two-hundred day moving average price of $72.65.

CVS Health (NYSE:CVSGet Free Report) last posted its quarterly earnings data 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). The company had revenue of $88.44 billion for the quarter, compared to analyst estimates 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 was up 3.7% compared to the same quarter last year. During the same period in the previous year, the business posted $2.20 earnings per share. On average, equities research analysts expect that CVS Health Co. will post 7.02 EPS for the current fiscal year.

CVS Health Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, May 1st. Shareholders 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 4.73%. CVS Health’s payout ratio is currently 46.75%.

Insiders Place Their Bets

In related news, Director Edward J. Ludwig acquired 1,000 shares of CVS Health stock in a transaction dated 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 transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, Director Edward J. Ludwig purchased 1,000 shares of CVS Health stock in a transaction that occurred on Thursday, May 2nd. The shares were purchased at an average cost of $53.88 per share, with a total value of $53,880.00. Following the transaction, the director now owns 21,630 shares of the company’s stock, valued at approximately $1,165,424.40. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Prem S. Shah sold 29,473 shares of the 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 transaction, the executive vice president now directly 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. 0.24% of the stock is owned by company insiders.

Institutional Investors Weigh In On CVS Health

Several hedge funds have recently made changes to their positions in CVS. Bryn Mawr Capital Management LLC boosted its stake in shares of CVS Health by 74.0% during the 3rd quarter. Bryn Mawr Capital Management LLC now owns 43,213 shares of the pharmacy operator’s stock valued at $3,017,000 after buying an additional 18,385 shares during the period. Sonora Investment Management Group LLC lifted its position in shares of CVS Health by 1.6% in the third quarter. Sonora Investment Management Group LLC now owns 50,488 shares of the pharmacy operator’s stock worth $3,525,000 after buying an additional 774 shares during the last quarter. Checchi Capital Advisers LLC raised its position in shares of CVS Health by 2.3% in the third 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 grew its position in shares of CVS Health by 2.6% in the third 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 last quarter. Finally, Riverpoint Wealth Management Holdings LLC acquired a new position in shares of CVS Health during the fourth quarter worth approximately $218,000. Hedge funds and other institutional investors 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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