CVS Health (NYSE:CVS) Downgraded to Market Perform at Leerink Partnrs

Leerink Partnrs lowered shares of CVS Health (NYSE:CVS) from an outperform rating to a market perform rating in a research report released on Wednesday, Zacks.com reports. Leerink Partnrs also issued estimates for CVS Health’s Q4 2024 earnings at $1.94 EPS and FY2027 earnings at $9.68 EPS.

Several other research analysts have also issued reports on CVS. UBS Group lowered shares of CVS Health from a buy rating to a neutral rating and cut their target price for the stock from $85.00 to $60.00 in a research note on Thursday. Mizuho dropped their price objective on shares of CVS Health from $86.00 to $72.00 and set a buy rating on the stock in a research note on Thursday. Wells Fargo & Company dropped their price objective on shares of CVS Health from $83.00 to $76.00 and set an equal weight rating on the stock in a research note on Monday, April 8th. Truist Financial reaffirmed a buy rating and issued a $66.00 price objective (down from $90.00) on shares of CVS Health in a research note on Thursday. Finally, Bank of America dropped their price objective on shares of CVS Health from $95.00 to $77.00 and set a buy rating on the stock in a research note on Thursday. Eight research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of Moderate Buy and an average price target of $80.35.

CVS Health Stock Up 1.4 %

NYSE CVS traded up $0.75 on Wednesday, hitting $55.90. 23,942,078 shares of the company were exchanged, compared to its average volume of 11,752,378. The company has a market cap of $70.45 billion, a PE ratio of 9.82, a PEG ratio of 0.89 and a beta of 0.56. CVS Health has a 12 month low of $53.70 and a 12 month high of $83.25. The stock has a fifty day moving average of $73.19 and a 200-day moving average of $73.37. 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 (EPS) for the quarter, missing the consensus estimate 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 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 prior year, the company earned $2.20 earnings per share. As a group, analysts forecast that CVS Health will post 7 earnings per share for the current year.

CVS Health Announces Dividend

The business also recently disclosed 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. The ex-dividend date of this dividend was Friday, April 19th. This represents a $2.66 dividend on an annualized basis and a yield of 4.76%. CVS Health’s dividend payout ratio (DPR) is presently 46.75%.

Insider Transactions at CVS Health

In other news, EVP Prem S. Shah sold 29,473 shares of CVS Health 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 owns 39,765 shares in the company, valued at $3,059,916.75. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, EVP Prem S. Shah sold 29,473 shares of CVS Health 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 owns 39,765 shares in the company, valued at $3,059,916.75. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Edward J. Ludwig bought 1,000 shares of CVS Health stock in a transaction dated Thursday, May 2nd. The stock was acquired 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 $1,165,424.40. The disclosure for this purchase can be found here. Corporate insiders own 0.24% of the company’s stock.

Hedge Funds Weigh In On CVS Health

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