Vetr cut shares of CVS Health Corporation (NYSE:CVS) from a strong-buy rating to a hold rating in a report issued on Thursday morning. The firm currently has $87.73 price objective on the pharmacy operator’s stock.

Several other equities research analysts have also issued reports on the company. Morgan Stanley lowered CVS Health Corporation from an overweight rating to an equal weight rating and dropped their price target for the stock from $111.00 to $104.00 in a research note on Monday, June 20th. Credit Suisse Group AG reaffirmed an outperform rating and set a $110.00 price target (down previously from $115.00) on shares of CVS Health Corporation in a research note on Tuesday. Robert W. Baird lowered their target price on CVS Health Corporation from $114.00 to $104.00 and set an outperform rating for the company in a research note on Monday. Leerink Swann reissued an outperform rating and issued a $105.00 target price (down previously from $110.00) on shares of CVS Health Corporation in a research note on Sunday, October 2nd. Finally, Jefferies Group reissued a buy rating on shares of CVS Health Corporation in a research note on Monday, July 4th. Six research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has assigned a strong buy rating to the company. The company currently has an average rating of Buy and an average price target of $112.11.

Shares of CVS Health Corporation (NYSE:CVS) traded down 0.272% on Thursday, reaching $86.255. The company’s stock had a trading volume of 1,262,443 shares. The company has a market cap of $91.97 billion, a P/E ratio of 19.842 and a beta of 0.83. CVS Health Corporation has a 12-month low of $85.89 and a 12-month high of $106.67. The company’s 50 day moving average price is $91.72 and its 200 day moving average price is $97.02.

CVS Health Corporation (NYSE:CVS) last issued its quarterly earnings results on Tuesday, August 2nd. The pharmacy operator reported $1.32 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.30 by $0.02. CVS Health Corporation had a return on equity of 15.86% and a net margin of 2.88%. The firm earned $43.70 billion during the quarter, compared to analyst estimates of $44.28 billion. During the same quarter in the previous year, the company posted $1.19 earnings per share. The company’s revenue was up 17.6% compared to the same quarter last year. Analysts forecast that CVS Health Corporation will post $5.86 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Thursday, November 3rd. Shareholders of record on Monday, October 24th will be issued a dividend of $0.425 per share. This represents a $1.70 dividend on an annualized basis and a yield of 1.97%. The ex-dividend date is Thursday, October 20th. CVS Health Corporation’s dividend payout ratio (DPR) is currently 39.08%.

Institutional investors have recently modified their holdings of the company. Acrospire Investment Management LLC boosted its position in shares of CVS Health Corporation by 542.2% in the second quarter. Acrospire Investment Management LLC now owns 1,066 shares of the pharmacy operator’s stock worth $102,000 after buying an additional 900 shares during the period. MU Investments Co. Ltd. boosted its position in shares of CVS Health Corporation by 62.0% in the second quarter. MU Investments Co. Ltd. now owns 1,150 shares of the pharmacy operator’s stock worth $109,000 after buying an additional 440 shares during the period. Pinkerton Retirement Specialists LLC boosted its position in shares of CVS Health Corporation by 3,475.0% in the second quarter. Pinkerton Retirement Specialists LLC now owns 1,144 shares of the pharmacy operator’s stock worth $110,000 after buying an additional 1,112 shares during the period. D Orazio & Associates Inc. boosted its position in shares of CVS Health Corporation by 9.4% in the second quarter. D Orazio & Associates Inc. now owns 1,160 shares of the pharmacy operator’s stock worth $111,000 after buying an additional 100 shares during the period. Finally, Cantab Capital Partners LLP boosted its position in shares of CVS Health Corporation by 355.4% in the second quarter. Cantab Capital Partners LLP now owns 1,184 shares of the pharmacy operator’s stock worth $113,000 after buying an additional 924 shares during the period. Hedge funds and other institutional investors own 80.96% of the company’s stock.

About CVS Health Corporation

CVS Health Corporation, together with its subsidiaries (CVS Health), is a pharmacy company. The Company operates through three business segments: Pharmacy Services, Retail/LTC and Corporate. The Company offers a range of products and services, such as advising patients on their medications at its CVS Pharmacy locations, introducing programs to help control costs for its clients at CVS Caremark, how care is delivered to its patients with conditions through CVS Specialty, pharmacy care for the senior community through Omnicare.

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