CVS Health (NYSE:CVS) Stock Rating Lowered by TD Cowen

CVS Health (NYSE:CVS) was downgraded by equities researchers at TD Cowen from a “buy” rating to a “hold” rating in a report issued on Tuesday, MarketBeat.com reports. They presently have a $59.00 price objective on the pharmacy operator’s stock, down from their previous price objective of $99.00. TD Cowen’s price target would indicate a potential upside of 7.41% from the stock’s current price.

CVS has been the subject of a number of other reports. StockNews.com lowered CVS Health from a “buy” rating to a “hold” rating in a report on Thursday, February 15th. Leerink Partnrs lowered shares of CVS Health from an “outperform” rating to a “market perform” rating in a research report on Wednesday, May 1st. The Goldman Sachs Group dropped 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 report on Thursday, May 2nd. Piper Sandler raised their price target on shares of CVS Health from $93.00 to $94.00 and gave the stock an “overweight” rating in a report on Friday, March 15th. Finally, Cantor Fitzgerald cut CVS Health from an “overweight” rating to a “neutral” rating and lowered their price target for the company from $87.00 to $58.00 in a research note on Wednesday, May 1st. Nine research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to data from MarketBeat.com, CVS Health has an average rating of “Moderate Buy” and a consensus price target of $76.75.

CVS Health Price Performance

Shares of NYSE CVS opened at $54.93 on Tuesday. 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 capitalization of $68.96 billion, a PE ratio of 9.65, a P/E/G ratio of 0.88 and a beta of 0.56. CVS Health has a 1-year low of $53.70 and a 1-year high of $83.25. The business’s fifty day moving average price is $71.95 and its two-hundred day moving average price is $73.09.

CVS Health (NYSE:CVS) last released its quarterly earnings data on Wednesday, May 1st. The pharmacy operator reported $1.31 earnings per share for the quarter, missing analysts’ consensus estimates of $1.69 by ($0.38). CVS Health had a return on equity of 13.53% and a net margin of 2.03%. The firm had revenue of $88.44 billion during the quarter, compared to analyst estimates of $89.33 billion. During the same period last year, the business earned $2.20 EPS. The firm’s revenue was up 3.7% on a year-over-year basis. On average, research analysts expect that CVS Health will post 7.03 EPS for the current year.

Insiders Place Their Bets

In other news, EVP Prem S. Shah sold 29,473 shares of the business’s stock in a transaction that occurred on Friday, February 16th. The stock was sold at an average price of $76.95, for a total value of $2,267,947.35. Following the transaction, the executive vice president now directly owns 39,765 shares of the company’s stock, valued at approximately $3,059,916.75. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other CVS Health news, Director Edward J. Ludwig bought 1,000 shares of the company’s stock in a transaction on Thursday, May 2nd. The stock was bought 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 purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 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 value of $2,267,947.35. Following the transaction, the executive vice president now owns 39,765 shares in the company, valued at approximately $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

Several large investors have recently bought and sold shares of CVS. TD Asset Management Inc increased its position in shares of CVS Health by 8.7% in the 1st quarter. TD Asset Management Inc now owns 1,219,927 shares of the pharmacy operator’s stock valued at $97,301,000 after buying an additional 97,738 shares in the last quarter. Dearborn Partners LLC boosted its position in CVS Health by 10.1% during the 1st quarter. Dearborn Partners LLC now owns 17,409 shares of the pharmacy operator’s stock worth $1,389,000 after acquiring an additional 1,597 shares during the last quarter. Pettyjohn Wood & White Inc. lifted its position in CVS Health by 0.4% during the 1st quarter. Pettyjohn Wood & White Inc. now owns 102,402 shares of the pharmacy operator’s stock worth $8,168,000 after buying an additional 431 shares in the last quarter. J.P. Marvel Investment Advisors LLC boosted its position in CVS Health by 4.0% during the first quarter. J.P. Marvel Investment Advisors LLC now owns 70,692 shares of the pharmacy operator’s stock valued at $5,638,000 after purchasing an additional 2,728 shares during the last quarter. Finally, Motley Fool Asset Management LLC increased its holdings in CVS Health by 319.7% during the first quarter. Motley Fool Asset Management LLC now owns 148,724 shares of the pharmacy operator’s stock worth $11,862,000 after buying an additional 113,288 shares during the last quarter. Institutional investors own 80.66% of the company’s stock.

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.