CVS Health (NYSE:CVS) PT Lowered to $109.00

CVS Health (NYSE:CVS – Get Rating) had its price objective decreased by Truist Financial from $115.00 to $109.00 in a research report report published on Thursday morning, The Fly reports.

Several other brokerages also recently weighed in on CVS. Jefferies Financial Group increased their price target on CVS Health from $130.00 to $143.00 and gave the stock a buy rating in a report on Thursday, February 9th. Barclays decreased their price target on CVS Health from $100.00 to $90.00 in a report on Thursday. Cantor Fitzgerald began coverage on CVS Health in a report on Thursday, April 20th. They set an overweight rating and a $87.00 price target for the company. Morgan Stanley raised their target price on CVS Health from $119.00 to $120.00 and gave the company an overweight rating in a report on Friday, January 13th. Finally, Sanford C. Bernstein reduced their target price on CVS Health from $107.00 to $93.00 in a report on Tuesday, May 2nd. Three research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company. Based on data from MarketBeat.com, CVS Health has a consensus rating of Moderate Buy and a consensus price target of $112.84.

CVS Health Stock Performance

Shares of CVS opened at $70.68 on Thursday. The company has a current ratio of 0.92, a quick ratio of 0.67 and a debt-to-equity ratio of 0.79. The firm has a market cap of $90.61 billion, a PE ratio of 23.33, a price-to-earnings-growth ratio of 1.12 and a beta of 0.61. The company’s 50 day simple moving average is $75.70 and its 200-day simple moving average is $87.29. CVS Health has a 12-month low of $68.10 and a 12-month high of $107.26.

CVS Health (NYSE:CVS – Get Rating) last announced its earnings results on Wednesday, May 3rd. The pharmacy operator reported $2.20 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.07 by $0.13. The business had revenue of $85.28 billion for the quarter, compared to analyst estimates of $80.67 billion. CVS Health had a net margin of 1.20% and a return on equity of 15.75%. The company’s revenue for the quarter was up 11.0% compared to the same quarter last year. During the same period last year, the firm posted $2.22 earnings per share. As a group, equities analysts predict that CVS Health will post 8.61 EPS for the current year.

CVS Health Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, May 1st. Investors of record on Friday, April 21st were given a dividend of $0.605 per share. This represents a $2.42 dividend on an annualized basis and a yield of 3.42%. The ex-dividend date was Thursday, April 20th. CVS Health’s dividend payout ratio is presently 79.87%.

Insider Buying and Selling

In related news, CEO Karen S. Lynch acquired 14,000 shares of the company’s stock in a transaction that occurred on Wednesday, May 3rd. The stock was purchased at an average price of $69.75 per share, for a total transaction of $976,500.00. Following the transaction, the chief executive officer now owns 431,392 shares in the company, valued at approximately $30,089,592. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 0.25% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On CVS Health

Hedge funds and other institutional investors have recently modified their holdings of the company. Cantor Fitzgerald Investment Advisor L.P lifted its position in CVS Health by 92.9% during the 1st quarter. Cantor Fitzgerald Investment Advisor L.P now owns 377,875 shares of the pharmacy operator’s stock worth $38,245,000 after acquiring an additional 181,966 shares in the last quarter. United Bank lifted its position in CVS Health by 7.2% during the 1st quarter. United Bank now owns 18,658 shares of the pharmacy operator’s stock worth $1,888,000 after acquiring an additional 1,260 shares in the last quarter. Loomis Sayles & Co. L P lifted its position in CVS Health by 4,063.8% during the 1st quarter. Loomis Sayles & Co. L P now owns 12,075 shares of the pharmacy operator’s stock worth $1,222,000 after acquiring an additional 11,785 shares in the last quarter. Zions Bancorporation N.A. lifted its position in CVS Health by 116.9% during the 1st quarter. Zions Bancorporation N.A. now owns 2,572 shares of the pharmacy operator’s stock worth $260,000 after acquiring an additional 1,386 shares in the last quarter. Finally, Ergoteles LLC acquired a new position in shares of CVS Health in the 1st quarter valued at approximately $1,551,000. 77.29% of the stock is owned by institutional investors and hedge funds.

CVS Health Company Profile

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CVS Health Corp. is a health solutions company, which engages in the provision of healthcare services. It operates through the following segments: Pharmacy Services, Retail or Long-Term Care, Health Care Benefits, and Corporate and Other. The Pharmacy Services segment focuses on the pharmacy benefit management solutions.