CVS Health (NYSE:CVS) Shares Up 0.3%

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

Wall Street Analysts Forecast Growth

CVS has been the topic of several recent analyst reports. The Goldman Sachs Group dropped their price target on CVS Health from $85.00 to $74.00 and set a “buy” rating on the stock in a research report on Thursday, May 2nd. Cantor Fitzgerald lowered shares of CVS Health from an “overweight” rating to a “neutral” rating and reduced their price target for the stock from $87.00 to $58.00 in a research report on Wednesday, May 1st. Truist Financial restated a “buy” rating and issued a $66.00 target price (down previously from $90.00) on shares of CVS Health in a research note on Thursday, May 2nd. Argus reduced their price target on CVS Health from $100.00 to $80.00 and set a “buy” rating for the company in a report on Wednesday, May 8th. Finally, Bank of America dropped their price objective on CVS Health from $95.00 to $77.00 and set a “buy” rating on the stock in a report on Thursday, May 2nd. Nine research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to data from MarketBeat.com, CVS Health presently has an average rating of “Moderate Buy” and a consensus target price of $76.75.

CVS Health Trading Down 0.1 %

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

CVS Health (NYSE:CVS) last announced its quarterly 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). The business 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 for the quarter was up 3.7% on a year-over-year basis. During the same quarter in the prior year, the business earned $2.20 EPS. On average, research analysts forecast that CVS Health Co. will post 7.02 EPS for the current 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 given 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 dividend payout ratio (DPR) is 46.75%.

Insider Buying and Selling at CVS Health

In other news, Director Edward J. Ludwig acquired 1,000 shares of the firm’s stock in a transaction 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 purchase, the director now owns 21,630 shares of the company’s stock, valued at $1,165,424.40. The acquisition was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Company insiders own 0.24% of the company’s stock.

Institutional Trading of CVS Health

A number of hedge funds and other institutional investors have recently made changes to their positions in CVS. Atticus Wealth Management LLC increased 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 acquiring an additional 219 shares in the last quarter. USA Financial Formulas increased its holdings in shares of CVS Health by 573.2% in 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 in the last quarter. Cornerstone Planning Group LLC raised its position in 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 last quarter. Ables Iannone Moore & Associates Inc. acquired a new position in CVS Health during the 4th quarter worth $32,000. Finally, Creekmur Asset Management LLC bought a new position in CVS Health in the 4th quarter valued at $34,000. 80.66% of the stock is currently 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.