CVS has been the subject of a number of other reports. Wells Fargo & Co cut CVS Health from an outperform rating to a market perform rating and lowered their price target for the company from $104.00 to $68.00 in a research note on Wednesday, February 20th. Cantor Fitzgerald reissued a buy rating and set a $96.00 target price on shares of CVS Health in a research note on Thursday, January 3rd. UBS Group assumed coverage on CVS Health in a report on Thursday, January 17th. They issued a buy rating and a $75.00 price objective for the company. ValuEngine raised CVS Health from a sell rating to a hold rating in a report on Tuesday, November 6th. Finally, Leerink Swann raised their price target on CVS Health from $85.00 to $95.00 and gave the company a positive rating in a report on Thursday, November 8th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and fifteen have assigned a buy rating to the company’s stock. CVS Health has an average rating of Buy and an average target price of $84.18.
NYSE CVS traded down $0.93 on Friday, hitting $56.16. 11,404,200 shares of the company were exchanged, compared to its average volume of 13,514,341. The company has a quick ratio of 0.65, a current ratio of 1.03 and a debt-to-equity ratio of 1.22. CVS Health has a 1-year low of $51.93 and a 1-year high of $82.15. The company has a market cap of $73.51 billion, a price-to-earnings ratio of 7.93, a price-to-earnings-growth ratio of 1.10 and a beta of 0.95.
CVS Health (NYSE:CVS) last released its earnings results on Wednesday, February 20th. The pharmacy operator reported $2.14 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.07 by $0.07. The company had revenue of $54.42 billion for the quarter, compared to the consensus estimate of $53.78 billion. CVS Health had a negative net margin of 0.31% and a positive return on equity of 17.49%. The company’s revenue was up 12.5% compared to the same quarter last year. During the same period in the prior year, the company posted $1.92 EPS. On average, equities analysts expect that CVS Health will post 6.8 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, May 3rd. Shareholders of record on Tuesday, April 23rd will be given a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a yield of 3.56%. The ex-dividend date is Monday, April 22nd. CVS Health’s dividend payout ratio is presently 28.25%.
In other news, Director C David Brown II purchased 10,000 shares of the business’s stock in a transaction dated Monday, March 11th. The shares were purchased at an average cost of $53.18 per share, with a total value of $531,800.00. Following the completion of the purchase, the director now owns 16,222 shares of the company’s stock, valued at approximately $862,685.96. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Larry J. Merlo sold 166,368 shares of CVS Health stock in a transaction dated Tuesday, January 8th. The shares were sold at an average price of $69.04, for a total value of $11,486,046.72. Following the sale, the insider now directly owns 496,577 shares in the company, valued at $34,283,676.08. The disclosure for this sale can be found here. In the last quarter, insiders acquired 23,600 shares of company stock worth $1,270,896 and sold 412,039 shares worth $27,326,012. Insiders own 0.53% of the company’s stock.
Several institutional investors have recently bought and sold shares of the stock. Bell Rock Capital LLC grew its stake in CVS Health by 764.0% in the 4th quarter. Bell Rock Capital LLC now owns 432 shares of the pharmacy operator’s stock valued at $28,000 after purchasing an additional 382 shares during the period. Daiwa SB Investments Ltd. bought a new position in CVS Health in the 4th quarter valued at $30,000. Acima Private Wealth LLC bought a new position in CVS Health in the 4th quarter valued at $33,000. Cornerstone Advisors Inc. grew its stake in CVS Health by 71.6% in the 3rd quarter. Cornerstone Advisors Inc. now owns 508 shares of the pharmacy operator’s stock valued at $40,000 after purchasing an additional 212 shares during the period. Finally, Murphy Pohlad Asset Management LLC bought a new position in CVS Health in the 4th quarter valued at $39,000. 79.85% of the stock is currently owned by institutional investors.
About CVS Health
CVS Health Corporation provides health services and plans in the United States. Its Pharmacy Services segment offers pharmacy benefit management solutions, such as plan design and administration, formulary management, retail pharmacy network management, mail order pharmacy, specialty pharmacy and infusion, Medicare Part D, clinical, disease management, and medical spend management services.
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