CVS Health (NYSE:CVS) PT Lowered to $74.00 at The Goldman Sachs Group

CVS Health (NYSE:CVS) had its price objective cut by The Goldman Sachs Group from $85.00 to $74.00 in a report published on Thursday, Benzinga reports. They currently have a buy rating on the pharmacy operator’s stock.

A number of other research firms have also commented on CVS. Leerink Partnrs reissued an outperform rating on shares of CVS Health in a research note on Monday, February 26th. Barclays reduced their price objective on CVS Health from $78.00 to $63.00 and set an equal weight rating on the stock in a research note on Thursday. Piper Sandler boosted their price objective on CVS Health from $93.00 to $94.00 and gave the stock an overweight rating in a research note on Friday, March 15th. Mizuho cut their price target on CVS Health from $86.00 to $72.00 and set a buy rating on the stock in a research note on Thursday. Finally, Wells Fargo & Company lowered their price objective on CVS Health from $83.00 to $76.00 and set an equal weight rating for the company in a research report on Monday, April 8th. Eight investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of Moderate Buy and a consensus target price of $80.35.

CVS Health Price Performance

Shares of CVS stock opened at $55.90 on Thursday. The stock’s fifty day simple moving average is $72.77 and its 200 day simple moving average is $73.29. The company has a debt-to-equity ratio of 0.78, a current ratio of 0.81 and a quick ratio of 0.61. The firm has a market cap of $70.18 billion, a price-to-earnings ratio of 9.82, a P/E/G ratio of 0.88 and a beta of 0.56. CVS Health has a one year low of $53.70 and a one year high of $83.25.

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 the consensus estimate of $1.69 by ($0.38). The company had revenue of $88.44 billion during 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%. CVS Health’s quarterly revenue was up 3.7% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.20 EPS. On average, analysts expect that CVS Health will post 7.03 earnings per share for the current fiscal year.

CVS Health Dividend Announcement

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

Insiders Place Their Bets

In other CVS Health news, EVP Prem S. Shah sold 29,473 shares of CVS Health 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 transaction, the executive vice president now directly owns 39,765 shares in the company, valued at $3,059,916.75. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other CVS Health news, EVP Prem S. Shah sold 29,473 shares of CVS Health 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 transaction, the executive vice president now directly owns 39,765 shares in the company, valued at $3,059,916.75. The transaction was disclosed in a filing with the SEC, which is accessible through 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 price of $53.88 per share, for a total transaction 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 disclosure for this purchase can be found here. Corporate insiders own 0.24% of the company’s stock.

Institutional Trading of CVS Health

Hedge funds and other institutional investors have recently modified their holdings of the company. Atticus Wealth Management LLC raised its stake 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 valued at $29,000 after purchasing an additional 219 shares during the period. USA Financial Formulas raised its stake 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 valued at $30,000 after purchasing an additional 321 shares during the period. Ables Iannone Moore & Associates Inc. acquired a new stake in shares of CVS Health in the fourth quarter valued at about $32,000. Creekmur Asset Management LLC acquired a new stake in shares of CVS Health in the fourth quarter valued at about $34,000. Finally, Steph & Co. increased 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 acquiring an additional 288 shares during the last quarter. Institutional investors and hedge funds own 80.66% of the company’s stock.

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.