CVS Health (NYSE:CVS) Shares Up 0.3%

CVS Health Co. (NYSE:CVS) shares shot up 0.3% during trading on Wednesday . The company traded as high as $57.56 and last traded at $57.51. 1,762,117 shares were traded during trading, a decline of 85% from the average session volume of 11,868,390 shares. The stock had previously closed at $57.32.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on CVS shares. Argus dropped their price target on shares of CVS Health from $100.00 to $80.00 and set a “buy” rating on the stock in a research report on Wednesday, May 8th. Cantor Fitzgerald downgraded CVS Health from an “overweight” rating to a “neutral” rating and decreased their price target for the stock from $87.00 to $58.00 in a report on Wednesday, May 1st. TD Cowen downgraded shares of CVS Health from a “buy” rating to a “hold” rating and cut their price objective for the stock from $99.00 to $59.00 in a report on Tuesday, May 7th. StockNews.com lowered shares of CVS Health from a “buy” rating to a “hold” rating in a research report on Thursday, February 15th. Finally, Mizuho reduced their price objective on shares of CVS Health from $86.00 to $72.00 and set a “buy” rating for the company in a research report on Thursday, May 2nd. Nine analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $76.75.

CVS Health Stock Down 0.2 %

The firm has a market cap of $71.79 billion, a P/E ratio of 10.11, a P/E/G ratio of 0.55 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 business has a 50-day moving average price of $68.33 and a 200-day moving average price of $72.24.

CVS Health (NYSE:CVS) last posted its earnings results on Wednesday, May 1st. The pharmacy operator reported $1.31 EPS for the quarter, missing analysts’ consensus estimates 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 for the quarter, compared to analysts’ expectations of $89.33 billion. During the same period last year, the business posted $2.20 EPS. The company’s revenue for the quarter was up 3.7% on a year-over-year basis. On average, equities analysts forecast that CVS Health Co. will post 7.02 EPS 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 paid a dividend of $0.665 per share. The ex-dividend date was Friday, April 19th. This represents a $2.66 dividend on an annualized basis and a dividend yield of 4.65%. CVS Health’s payout ratio is 46.75%.

Insiders Place Their Bets

In related news, Director Edward J. Ludwig bought 1,000 shares of the firm’s 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 completion of the transaction, the director now directly 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 through this hyperlink. 0.24% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On CVS Health

Institutional investors have recently modified their holdings of the company. Atticus Wealth Management LLC raised its position in CVS Health by 149.0% in the 4th quarter. Atticus Wealth Management LLC now owns 366 shares of the pharmacy operator’s stock valued at $29,000 after purchasing an additional 219 shares in the last quarter. USA Financial Formulas grew its stake in CVS Health by 573.2% in the 4th quarter. USA Financial Formulas now owns 377 shares of the pharmacy operator’s stock worth $30,000 after acquiring an additional 321 shares during the period. Ables Iannone Moore & Associates Inc. acquired a new position in CVS Health in the 4th quarter valued at $32,000. Creekmur Asset Management LLC acquired a new stake in shares of CVS Health during the fourth quarter worth $34,000. Finally, Steph & Co. grew its position in shares of CVS Health by 192.0% in the first quarter. Steph & Co. now owns 438 shares of the pharmacy operator’s stock valued at $35,000 after purchasing an additional 288 shares during the period. 80.66% of the stock is owned by institutional investors and hedge funds.

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.