CVS Health (NYSE:CVS) Trading Up 0.3%

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

Wall Street Analyst Weigh In

Several analysts recently weighed in on the company. Leerink Partnrs downgraded CVS Health from an “outperform” rating to a “market perform” rating in a report on Wednesday, May 1st. StockNews.com cut shares of CVS Health from a “buy” rating to a “hold” rating in a research report on Thursday, February 15th. Bank of America cut their price objective on shares of CVS Health from $95.00 to $77.00 and set a “buy” rating on the stock in a report on Thursday, May 2nd. Argus dropped their target price on CVS Health from $100.00 to $80.00 and set a “buy” rating on the stock in a research report on Wednesday, May 8th. Finally, Wells Fargo & Company reduced their price target on CVS Health from $76.00 to $60.00 and set an “equal weight” rating for the company in a research report on Tuesday, May 7th. Nine analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $76.75.

CVS Health Stock Performance

The firm has a market capitalization of $69.82 billion, a price-to-earnings ratio of 9.87, a PEG ratio of 0.55 and a beta of 0.56. The firm’s 50 day simple moving average is $67.57 and its 200 day simple moving average is $72.02. The company has a debt-to-equity ratio of 0.78, a quick ratio of 0.61 and a current ratio of 0.81.

CVS Health (NYSE:CVS) last posted its quarterly 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). The business had revenue of $88.44 billion during the quarter, compared to analysts’ expectations of $89.33 billion. CVS Health had a net margin of 2.03% and a return on equity of 13.53%. CVS Health’s revenue for the quarter was up 3.7% compared to the same quarter last year. During the same period in the previous year, the company posted $2.20 earnings per share. Sell-side analysts forecast that CVS Health Co. will post 7.02 earnings per share for the current fiscal year.

CVS Health Announces Dividend

The business also recently declared 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 dividend on an annualized basis and a yield of 4.78%. The ex-dividend date was Friday, April 19th. CVS Health’s payout ratio is presently 46.75%.

Insider Transactions at CVS Health

In other news, Director Edward J. Ludwig purchased 1,000 shares of the stock in a transaction that occurred on Thursday, May 2nd. The shares were purchased at an average cost of $53.88 per share, with a total value of $53,880.00. Following the completion of 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 filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.24% of the company’s stock.

Institutional Trading of CVS Health

Institutional investors have recently bought and sold shares of the business. Atticus Wealth Management LLC raised its holdings in shares of 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 during the last quarter. USA Financial Formulas raised 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 valued at $30,000 after purchasing an additional 321 shares during the last quarter. Ables Iannone Moore & Associates Inc. acquired a new stake in CVS Health during the 4th quarter worth $32,000. Creekmur Asset Management LLC purchased a new stake in shares of CVS Health during the fourth quarter worth $34,000. Finally, Steph & Co. raised 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 buying an additional 288 shares during the last quarter. 80.66% of the stock is owned by institutional investors and hedge funds.

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.