CVS Health (NYSE:CVS) PT Lowered to $77.00

CVS Health (NYSE:CVS) had its target price trimmed by Bank of America from $95.00 to $77.00 in a research report report published on Thursday, Benzinga reports. The firm currently has a buy rating on the pharmacy operator’s stock.

CVS has been the subject of several other research reports. Cantor Fitzgerald lowered shares of CVS Health from an overweight rating to a neutral rating and lowered their price objective for the company from $87.00 to $58.00 in a research report on Wednesday, May 1st. UBS Group lowered shares of CVS Health from a buy rating to a neutral rating and lowered their price objective for the company from $85.00 to $60.00 in a research report on Thursday. Leerink Partnrs reissued an outperform rating on shares of CVS Health in a research note on Monday, February 26th. Wells Fargo & Company reduced their target price 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. Finally, The Goldman Sachs Group reduced their target price on shares of CVS Health from $85.00 to $74.00 and set a buy rating on the stock in a research note on Thursday. Eight research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of Moderate Buy and an average price target of $80.35.

CVS Health Price Performance

Shares of NYSE:CVS opened at $55.90 on Thursday. CVS Health has a fifty-two week low of $53.70 and a fifty-two week high of $83.25. 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 firm has a fifty day moving average price of $72.77 and a 200 day moving average price of $73.29. 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 (NYSE:CVS) last released its quarterly earnings data on Wednesday, May 1st. The pharmacy operator reported $1.31 EPS for the quarter, missing the consensus estimate of $1.69 by ($0.38). CVS Health had a net margin of 2.03% and a return on equity of 13.53%. The business had revenue of $88.44 billion for the quarter, compared to the consensus estimate of $89.33 billion. During the same quarter last year, the business earned $2.20 EPS. CVS Health’s revenue for the quarter was up 3.7% compared to the same quarter last year. As a group, sell-side 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 given a dividend of $0.665 per share. This represents a $2.66 dividend on an annualized basis and a yield of 4.76%. 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 CVS Health news, EVP Prem S. Shah sold 29,473 shares of the firm’s stock in a transaction dated Friday, February 16th. The shares were 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 owns 39,765 shares of the company’s stock, valued at approximately $3,059,916.75. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, Director Edward J. Ludwig purchased 1,000 shares of the stock in a transaction dated Thursday, May 2nd. The shares were acquired at an average cost of $53.88 per share, for a total transaction of $53,880.00. Following the acquisition, the director now owns 21,630 shares of the company’s stock, valued at $1,165,424.40. The acquisition was disclosed in a legal filing with the SEC, 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 shares were sold at an average price of $76.95, for a total transaction of $2,267,947.35. Following the completion of the sale, the executive vice president now owns 39,765 shares in the company, 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 Trading of CVS Health

A number of institutional investors have recently modified their holdings of the company. SOA Wealth Advisors LLC. boosted its holdings in shares of CVS Health by 4.9% in the 4th quarter. SOA Wealth Advisors LLC. now owns 2,859 shares of the pharmacy operator’s stock valued at $226,000 after buying an additional 133 shares in the last quarter. Apella Capital LLC grew its position in CVS Health by 4.2% during the 4th quarter. Apella Capital LLC now owns 3,378 shares of the pharmacy operator’s stock worth $272,000 after purchasing an additional 136 shares during the last quarter. Prairie Sky Financial Group LLC grew its position in CVS Health by 4.1% during the 4th quarter. Prairie Sky Financial Group LLC now owns 3,612 shares of the pharmacy operator’s stock worth $285,000 after purchasing an additional 141 shares during the last quarter. WealthShield Partners LLC grew its position in CVS Health by 3.2% during the 4th quarter. WealthShield Partners LLC now owns 4,498 shares of the pharmacy operator’s stock worth $355,000 after purchasing an additional 141 shares during the last quarter. Finally, Sugarloaf Wealth Management LLC grew its position in CVS Health by 9.5% during the 4th quarter. Sugarloaf Wealth Management LLC now owns 1,639 shares of the pharmacy operator’s stock worth $129,000 after purchasing an additional 142 shares during the last quarter. 80.66% of the stock is currently owned by institutional investors.

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.