CVS Health (NYSE:CVS) Stock Price Down 1.5% After Analyst Downgrade

CVS Health Co. (NYSE:CVS)’s share price fell 1.5% during trading on Wednesday after Argus lowered their price target on the stock from $100.00 to $80.00. Argus currently has a buy rating on the stock. CVS Health traded as low as $54.69 and last traded at $54.93. 3,955,369 shares changed hands during mid-day trading, a decline of 66% from the average session volume of 11,776,579 shares. The stock had previously closed at $55.74.

Several other analysts have also issued reports on CVS. The Goldman Sachs Group dropped their target price on CVS Health from $85.00 to $74.00 and set a “buy” rating on the stock in a report on Thursday, May 2nd. Truist Financial reiterated a “buy” rating and set a $66.00 target price (down previously from $90.00) on shares of CVS Health in a report on Thursday, May 2nd. Barclays dropped their target price on CVS Health from $78.00 to $63.00 and set an “equal weight” rating on the stock in a report on Thursday, May 2nd. SVB Leerink reiterated a “market perform” rating and set a $60.00 target price (down previously from $87.00) on shares of CVS Health in a report on Wednesday, May 1st. Finally, Mizuho lowered their price target on CVS Health from $86.00 to $72.00 and set a “buy” rating on the stock in a research report on Thursday, May 2nd. Nine equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $76.75.

Insider Activity

In other news, Director Edward J. Ludwig purchased 1,000 shares of CVS Health stock in a transaction that occurred 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 transaction, the director now owns 21,630 shares of the company’s stock, valued at approximately $1,165,424.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other CVS Health news, Director Edward J. Ludwig bought 1,000 shares of the stock in a transaction on Thursday, May 2nd. The stock was purchased at an average price 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 $1,165,424.40. The purchase was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP Prem S. Shah sold 29,473 shares of the firm’s stock in a transaction that occurred on 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. Corporate insiders own 0.24% of the company’s stock.

Institutional Investors Weigh In On CVS Health

Hedge funds have recently modified their holdings of the company. SOA Wealth Advisors LLC. raised its holdings in CVS Health by 4.9% in the 4th quarter. SOA Wealth Advisors LLC. now owns 2,859 shares of the pharmacy operator’s stock worth $226,000 after purchasing an additional 133 shares in the last quarter. Apella Capital LLC raised its holdings in CVS Health by 4.2% in 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 in the last quarter. Prairie Sky Financial Group LLC raised its holdings in CVS Health by 4.1% in 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 in the last quarter. WealthShield Partners LLC raised its holdings in CVS Health by 3.2% in 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 in the last quarter. Finally, Sugarloaf Wealth Management LLC raised its holdings in CVS Health by 9.5% in 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 in the last quarter. Institutional investors and hedge funds own 80.66% of the company’s stock.

CVS Health Stock Down 1.5 %

The company has a current ratio of 0.81, a quick ratio of 0.61 and a debt-to-equity ratio of 0.78. The company’s fifty day simple moving average is $71.95 and its 200 day simple moving average is $73.09. The firm has a market capitalization of $68.96 billion, a P/E ratio of 9.65, a price-to-earnings-growth ratio of 0.88 and a beta of 0.56.

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 the consensus estimate of $1.69 by ($0.38). The business had revenue of $88.44 billion during 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 was up 3.7% compared to the same quarter last year. During the same quarter in the previous year, the business earned $2.20 earnings per share. Research analysts expect that CVS Health Co. will post 7.03 EPS for the current year.

CVS Health Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, May 1st. Investors of record on Monday, April 22nd were paid a $0.665 dividend. The ex-dividend date was Friday, April 19th. This represents a $2.66 annualized dividend and a dividend yield of 4.84%. CVS Health’s payout ratio is 46.75%.

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.