UBS Group Lowers CVS Health (NYSE:CVS) to Neutral

UBS Group downgraded shares of CVS Health (NYSE:CVS) from a buy rating to a neutral rating in a research report released on Thursday, MarketBeat.com reports. The firm currently has $60.00 target price on the pharmacy operator’s stock, down from their prior target price of $85.00.

Several other equities analysts have also recently commented on CVS. Cantor Fitzgerald cut shares of CVS Health from an overweight rating to a neutral rating and lowered their target price for the company from $87.00 to $58.00 in a research note on Wednesday. Wells Fargo & Company dropped their target price on CVS Health from $83.00 to $76.00 and set an equal weight rating on the stock in a report on Monday, April 8th. SVB Leerink reiterated a market perform rating and set a $60.00 price target (down from $87.00) on shares of CVS Health in a research report on Wednesday. Leerink Partnrs restated an outperform rating on shares of CVS Health in a report on Monday, February 26th. Finally, Piper Sandler lifted their target price on CVS Health from $93.00 to $94.00 and gave the stock an overweight rating in a report on Friday, March 15th. Eight research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to MarketBeat, the company has a consensus rating of Moderate Buy and a consensus price target of $80.35.

CVS Health Stock Performance

Shares of CVS traded up $0.75 during midday trading on Thursday, hitting $55.90. 23,946,075 shares of the stock traded hands, compared to its average volume of 12,498,538. The company has a debt-to-equity ratio of 0.78, a quick ratio of 0.63 and a current ratio of 0.81. The business’s 50 day moving average price is $72.77 and its two-hundred day moving average price is $73.26. The firm has a market capitalization of $70.18 billion, a PE ratio of 9.82, a price-to-earnings-growth ratio of 0.88 and a beta of 0.56. CVS Health has a 1-year low of $53.70 and a 1-year high of $83.25.

CVS Health (NYSE:CVS) last posted its earnings results on Wednesday, May 1st. The pharmacy operator reported $1.31 EPS 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 during the quarter, compared to analyst estimates of $89.33 billion. During the same quarter in the prior year, the business earned $2.20 earnings per share. The firm’s revenue was up 3.7% compared to the same quarter last year. Equities research analysts predict that CVS Health will post 7.03 EPS for the current fiscal year.

CVS Health Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, May 1st. Stockholders of record on Monday, April 22nd were issued a $0.665 dividend. The ex-dividend date of this dividend was Friday, April 19th. This represents a $2.66 dividend on an annualized basis and a dividend yield of 4.76%. CVS Health’s payout ratio is currently 46.75%.

Insider Activity at CVS Health

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 bought at an average price of $53.88 per share, with a total value of $53,880.00. Following the purchase, the director now directly owns 21,630 shares in the company, valued at approximately $1,165,424.40. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. In related news, Director Edward J. Ludwig bought 1,000 shares of the firm’s stock in a transaction on Thursday, May 2nd. The stock was bought at an average price of $53.88 per share, with a total value of $53,880.00. Following the purchase, 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 document filed with the SEC, which is available at this hyperlink. Also, EVP Prem S. Shah sold 29,473 shares of the stock in a transaction on 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 sale, the executive vice president now owns 39,765 shares of the company’s stock, valued at $3,059,916.75. The disclosure for this sale can be found here. 0.24% of the stock is owned by insiders.

Hedge Funds Weigh In On CVS Health

Hedge funds have recently added to or reduced their stakes in the company. Bryn Mawr Capital Management LLC raised its holdings 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 purchasing an additional 18,385 shares in the last quarter. Value Partners Investments Inc. boosted its stake in shares of CVS Health by 26.5% during the 3rd quarter. Value Partners Investments Inc. now owns 991,601 shares of the pharmacy operator’s stock worth $69,261,000 after acquiring an additional 207,702 shares in the last quarter. Sonora Investment Management Group LLC increased its holdings in shares of CVS Health by 1.6% during 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 acquiring an additional 774 shares during the last quarter. Checchi Capital Advisers LLC lifted its holdings in CVS Health by 2.3% in the 3rd quarter. Checchi Capital Advisers LLC now owns 10,405 shares of the pharmacy operator’s stock worth $726,000 after purchasing an additional 233 shares during the last quarter. Finally, Personal CFO Solutions LLC boosted its position in CVS Health by 2.6% during the third quarter. Personal CFO Solutions LLC now owns 19,355 shares of the pharmacy operator’s stock worth $1,351,000 after purchasing an additional 491 shares during the period. Institutional investors and hedge funds own 80.66% of the company’s stock.

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.