CVS Health (NYSE:CVS) Price Target Cut to $63.00 by Analysts at Barclays

CVS Health (NYSE:CVS) had its price objective trimmed by Barclays from $78.00 to $63.00 in a report issued on Thursday, Benzinga reports. The firm currently has an equal weight rating on the pharmacy operator’s stock.

A number of other analysts have also weighed in on the stock. Cantor Fitzgerald lowered shares of CVS Health from an overweight rating to a neutral rating and cut their price objective for the stock from $87.00 to $58.00 in a research note on Wednesday, May 1st. Wells Fargo & Company cut 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 research note on Monday, April 8th. StockNews.com lowered shares of CVS Health from a buy rating to a hold rating in a research note on Thursday, February 15th. Truist Financial reiterated a buy rating and issued a $66.00 price objective (down previously from $90.00) on shares of CVS Health in a research note on Thursday. Finally, SVB Leerink restated a market perform rating and set a $60.00 price target (down previously from $87.00) on shares of CVS Health in a research report on Wednesday, May 1st. Eight investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of Moderate Buy and an average target price of $80.35.

CVS Health Trading Up 1.4 %

Shares of CVS Health stock opened at $55.90 on Thursday. The company has a current ratio of 0.81, a quick ratio of 0.61 and a debt-to-equity ratio of 0.78. CVS Health has a 12-month low of $53.70 and a 12-month high of $83.25. The firm has a market capitalization of $70.18 billion, a price-to-earnings ratio of 9.82, a PEG ratio of 0.88 and a beta of 0.56. The firm’s 50 day simple moving average is $72.77 and its two-hundred day simple moving average is $73.29.

CVS Health (NYSE:CVS) last issued its quarterly 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 analyst estimates of $89.33 billion. CVS Health had a net margin of 2.03% and a return on equity of 13.53%. The company’s revenue for the quarter was up 3.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.20 EPS. Analysts predict that CVS Health will post 7.03 EPS for the current year.

CVS Health Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, May 1st. Stockholders of record on Monday, April 22nd were paid a $0.665 dividend. This represents a $2.66 annualized dividend and a dividend yield of 4.76%. The ex-dividend date of this dividend was Friday, April 19th. CVS Health’s dividend payout ratio is currently 46.75%.

Insider Transactions at CVS Health

In other CVS Health news, Director Edward J. Ludwig purchased 1,000 shares of the firm’s stock in a transaction dated 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 in the company, valued at approximately $1,165,424.40. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other news, Director Edward J. Ludwig acquired 1,000 shares of the business’s stock in a transaction that occurred on Thursday, May 2nd. The stock was purchased at an average cost of $53.88 per share, for a total transaction of $53,880.00. Following the completion of the transaction, the director now owns 21,630 shares in the company, valued at $1,165,424.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Prem S. Shah sold 29,473 shares of the firm’s stock in a transaction dated Friday, February 16th. The stock was 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 owns 39,765 shares of the company’s stock, valued at $3,059,916.75. The disclosure for this sale can be found here. Insiders own 0.24% of the company’s stock.

Institutional Investors Weigh In On CVS Health

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Atticus Wealth Management LLC increased its position 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 increased its position in shares of CVS Health by 573.2% during the fourth quarter. USA Financial Formulas now owns 377 shares of the pharmacy operator’s stock valued at $30,000 after acquiring an additional 321 shares during the last quarter. Ables Iannone Moore & Associates Inc. acquired a new stake in shares of CVS Health during the fourth quarter valued at about $32,000. Creekmur Asset Management LLC acquired a new stake in shares of CVS Health during the fourth quarter valued at about $34,000. Finally, Steph & Co. increased its position in shares of CVS Health by 192.0% during the first quarter. Steph & Co. now owns 438 shares of the pharmacy operator’s stock valued at $35,000 after acquiring an additional 288 shares during the last quarter. 80.66% of the stock is currently 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.