CVS Health (NYSE:CVS) Price Target Cut to $80.00

CVS Health (NYSE:CVS) had its price objective cut by Argus from $100.00 to $80.00 in a report published on Wednesday, Benzinga reports. They currently have a buy rating on the pharmacy operator’s stock.

CVS has been the subject of several other research reports. Cantor Fitzgerald downgraded 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, May 1st. Piper Sandler upped their price target on shares of CVS Health from $93.00 to $94.00 and gave the company an overweight rating in a report on Friday, March 15th. SVB Leerink reiterated a market perform rating and issued a $60.00 price target (down previously from $87.00) on shares of CVS Health in a report on Wednesday, May 1st. Leerink Partnrs cut shares of CVS Health from an outperform rating to a market perform rating in a report on Wednesday, May 1st. Finally, Bank of America reduced their price target on shares of CVS Health from $95.00 to $77.00 and set a buy rating for the company in a report on Thursday, May 2nd. Nine research analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of Moderate Buy and an average target price of $76.75.

CVS Health Trading Up 1.4 %

Shares of CVS traded up $0.76 on Wednesday, reaching $55.67. 10,298,162 shares of the company’s stock were exchanged, compared to its average volume of 11,874,933. 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 stock has a market capitalization of $69.89 billion, a P/E ratio of 9.79, a price-to-earnings-growth ratio of 0.88 and a beta of 0.56. The business has a 50 day moving average price of $71.54 and a two-hundred day moving average price of $72.96. CVS Health has a 12 month low of $53.70 and a 12 month high of $83.25.

CVS Health (NYSE:CVS) last issued 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 firm had revenue of $88.44 billion during the quarter, compared to the consensus estimate of $89.33 billion. During the same period in the previous year, the company posted $2.20 EPS. The firm’s revenue for the quarter was up 3.7% on a year-over-year basis. Research analysts anticipate that CVS Health 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. Shareholders of record on Monday, April 22nd were issued a $0.665 dividend. This represents a $2.66 annualized dividend and a yield of 4.78%. The ex-dividend date of this dividend was Friday, April 19th. CVS Health’s dividend payout ratio is currently 46.75%.

Insider Activity at CVS Health

In related news, Director Edward J. Ludwig purchased 1,000 shares of the firm’s stock in a transaction that occurred on Thursday, May 2nd. The shares were bought at an average cost of $53.88 per share, with a total value of $53,880.00. Following the acquisition, the director now owns 21,630 shares of the company’s stock, valued at approximately $1,165,424.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other CVS Health news, EVP Prem S. Shah sold 29,473 shares of the business’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 transaction 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 approximately $3,059,916.75. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Edward J. Ludwig bought 1,000 shares of CVS Health stock in a transaction on Thursday, May 2nd. The shares were acquired at an average cost of $53.88 per share, for a total transaction of $53,880.00. Following the completion of the acquisition, the director now directly owns 21,630 shares in the company, valued at $1,165,424.40. The disclosure for this purchase can be found here. 0.24% of the stock is currently owned by insiders.

Institutional Investors Weigh In On CVS Health

A number of institutional investors have recently added to or reduced their stakes in the business. Atticus Wealth Management LLC lifted its position in shares of CVS Health by 149.0% in the 4th quarter. Atticus Wealth Management LLC now owns 366 shares of the pharmacy operator’s stock worth $29,000 after purchasing an additional 219 shares during the period. USA Financial Formulas lifted its position in shares of 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 purchasing an additional 321 shares during the period. Cornerstone Planning Group LLC lifted its position in shares of CVS Health by 111.5% in the 3rd quarter. Cornerstone Planning Group LLC now owns 461 shares of the pharmacy operator’s stock worth $32,000 after purchasing an additional 243 shares during the period. Ables Iannone Moore & Associates Inc. acquired a new position in shares of CVS Health in the 4th quarter worth approximately $32,000. Finally, Creekmur Asset Management LLC acquired a new position in shares of CVS Health during the 4th quarter valued at $34,000. 80.66% of the stock is 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.