CVS Health (NYSE:CVS) Stock Rating Lowered by Leerink Partnrs

CVS Health (NYSE:CVS) was downgraded by analysts at Leerink Partnrs from an “outperform” rating to a “market perform” rating in a research note issued to investors 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 brokerages also recently issued reports on CVS. Barclays lowered their price target on CVS Health from $78.00 to $63.00 and set an “equal weight” rating for the company in a report on Thursday. StockNews.com downgraded shares of CVS Health from a “buy” rating to a “hold” rating in a report on Thursday, February 15th. Royal Bank of Canada reduced their price target on shares of CVS Health from $86.00 to $84.00 and set an “outperform” rating for the company in a report on Thursday, February 8th. 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 report on Monday, April 8th. Finally, Piper Sandler upped their target price on shares of CVS Health from $93.00 to $94.00 and gave the stock an “overweight” rating in a research note on Friday, March 15th. Eight equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $80.35.

CVS Health Trading Up 1.4 %

Shares of CVS stock traded up $0.75 during trading hours on Wednesday, reaching $55.90. The company had a trading volume of 23,942,078 shares, compared to its average volume of 11,752,378. The company has a debt-to-equity ratio of 0.78, a current ratio of 0.81 and a quick ratio of 0.63. CVS Health has a 1-year low of $53.70 and a 1-year high of $83.25. The company has a 50 day moving average of $73.19 and a 200 day moving average of $73.37. The firm has a market cap of $70.45 billion, a price-to-earnings ratio of 9.82, a P/E/G ratio of 0.89 and a beta of 0.56.

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 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 return on equity of 13.53% and a net margin of 2.03%. CVS Health’s quarterly revenue was up 3.7% on a year-over-year basis. During the same quarter last year, the business posted $2.20 EPS. On average, equities research analysts anticipate that CVS Health will post 7 EPS for the current year.

Insider Activity

In other news, 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 transaction, 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 through the SEC website. In other CVS Health news, Director Edward J. Ludwig acquired 1,000 shares of the company’s stock in a transaction on Thursday, May 2nd. The stock was acquired at an average price of $53.88 per share, for a total transaction 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 acquisition was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP Prem S. Shah sold 29,473 shares of the firm’s 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 transaction, the executive vice president now owns 39,765 shares in the company, valued at approximately $3,059,916.75. The disclosure for this sale can be found here. Insiders own 0.24% of the company’s stock.

Hedge Funds Weigh In On CVS Health

Large investors have recently bought and sold shares of the company. SOA Wealth Advisors LLC. raised its stake in shares of CVS Health by 4.9% in the fourth quarter. SOA Wealth Advisors LLC. now owns 2,859 shares of the pharmacy operator’s stock worth $226,000 after purchasing an additional 133 shares during the last quarter. Apella Capital LLC raised its position in shares of CVS Health by 4.2% in the fourth quarter. Apella Capital LLC now owns 3,378 shares of the pharmacy operator’s stock valued at $272,000 after purchasing an additional 136 shares during the period. Prairie Sky Financial Group LLC boosted its holdings in shares of CVS Health by 4.1% in the fourth quarter. Prairie Sky Financial Group LLC now owns 3,612 shares of the pharmacy operator’s stock worth $285,000 after acquiring an additional 141 shares during the period. WealthShield Partners LLC grew its holdings in CVS Health by 3.2% during the 4th quarter. WealthShield Partners LLC now owns 4,498 shares of the pharmacy operator’s stock valued at $355,000 after buying an additional 141 shares in the last quarter. Finally, Sugarloaf Wealth Management LLC increased its holdings in CVS Health by 9.5% during the 4th quarter. Sugarloaf Wealth Management LLC now owns 1,639 shares of the pharmacy operator’s stock worth $129,000 after acquiring an additional 142 shares during the period. 80.66% of the stock is currently owned by institutional investors.

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.