CVS Health (NYSE:CVS) Trading 1.2% Higher

CVS Health Co. (NYSE:CVS)’s stock price rose 1.2% during mid-day trading on Tuesday . The company traded as high as $56.93 and last traded at $56.66. Approximately 4,455,806 shares changed hands during mid-day trading, a decline of 62% from the average daily volume of 11,713,563 shares. The stock had previously closed at $55.97.

Analyst Upgrades and Downgrades

Several analysts have recently commented on CVS shares. Barclays reduced their price objective on shares of CVS Health from $78.00 to $63.00 and set an “equal weight” rating for the company in a research report on Thursday, May 2nd. Leerink Partnrs lowered shares of CVS Health from an “outperform” rating to a “market perform” rating in a research note on Wednesday, May 1st. Bank of America cut their price target on CVS Health from $95.00 to $77.00 and set a “buy” rating for the company in a research note on Thursday, May 2nd. TD Cowen lowered CVS Health from a “buy” rating to a “hold” rating and dropped their target price for the company from $99.00 to $59.00 in a report on Tuesday. Finally, Truist Financial reiterated a “buy” rating and set a $66.00 price target (down previously from $90.00) on shares of CVS Health in a report on Thursday, May 2nd. Nine equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $77.55.

CVS Health Stock Performance

The company has a market capitalization of $69.97 billion, a P/E ratio of 9.87, a P/E/G ratio of 0.88 and a beta of 0.56. The company has a current ratio of 0.81, a quick ratio of 0.61 and a debt-to-equity ratio of 0.78. The company’s fifty day moving average is $72.36 and its 200 day moving average is $73.18.

CVS Health (NYSE:CVS) last released its quarterly earnings data on Wednesday, May 1st. The pharmacy operator reported $1.31 earnings per share (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 the consensus estimate 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 for the quarter was up 3.7% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $2.20 earnings per share. As a group, equities analysts anticipate that CVS Health Co. will post 7.03 earnings per share for the current year.

CVS Health Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, May 1st. Investors 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 yield of 4.77%. The ex-dividend date was Friday, April 19th. CVS Health’s dividend payout ratio (DPR) is presently 46.75%.

Insider Buying and Selling at CVS Health

In related news, 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 in the company, valued at $3,059,916.75. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In related news, EVP Prem S. Shah sold 29,473 shares of the firm’s stock in a transaction that occurred on 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 sale, the executive vice president now directly owns 39,765 shares of the company’s stock, valued at $3,059,916.75. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Edward J. Ludwig purchased 1,000 shares of the business’s stock in a transaction on Thursday, May 2nd. The stock was bought at an average cost of $53.88 per share, with a total value of $53,880.00. Following the purchase, 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. Insiders own 0.24% of the company’s stock.

Hedge Funds Weigh In On CVS Health

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Atticus Wealth Management LLC boosted its position in CVS Health by 149.0% during the fourth 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 period. USA Financial Formulas boosted its holdings in CVS Health by 573.2% during the 4th 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 period. Cornerstone Planning Group LLC grew its position in CVS Health by 111.5% during the 3rd quarter. Cornerstone Planning Group LLC now owns 461 shares of the pharmacy operator’s stock worth $32,000 after acquiring an additional 243 shares during the last quarter. Ables Iannone Moore & Associates Inc. purchased a new position in CVS Health in the 4th quarter worth approximately $32,000. Finally, Creekmur Asset Management LLC bought a new stake in CVS Health in the fourth quarter valued at approximately $34,000. 80.66% of the stock is currently owned by hedge funds and other institutional investors.

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.