CVS Health (NYSE:CVS) PT Lowered to $63.00 at Barclays

CVS Health (NYSE:CVS) had its price target trimmed by Barclays from $78.00 to $63.00 in a report published on Thursday, Benzinga reports. The brokerage currently has an equal weight rating on the pharmacy operator’s stock.

Other equities research analysts have also recently issued reports about the stock. StockNews.com cut shares of CVS Health from a buy rating to a hold rating in a research report on Thursday, February 15th. Wells Fargo & Company decreased their price objective on CVS Health from $83.00 to $76.00 and set an equal weight rating for the company in a research note on Monday, April 8th. Leerink Partnrs reiterated an outperform rating on shares of CVS Health in a research note on Monday, February 26th. Cantor Fitzgerald lowered shares of CVS Health from an overweight rating to a neutral rating and lowered their target price for the stock from $87.00 to $58.00 in a research report on Wednesday. Finally, Royal Bank of Canada lowered their price objective on shares of CVS Health from $86.00 to $84.00 and set an outperform rating on the stock in a research report on Thursday, February 8th. Eight investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of Moderate Buy and an average price target of $80.35.

CVS Health Trading Up 1.4 %

Shares of CVS traded up $0.75 during midday trading on Thursday, hitting $55.90. The stock had a trading volume of 23,946,075 shares, compared to its average volume of 12,498,538. The stock’s 50 day moving average is $72.77 and its 200 day moving average is $73.26. The company has a debt-to-equity ratio of 0.78, a current ratio of 0.81 and a quick ratio of 0.63. The firm has a market cap of $70.18 billion, a PE ratio of 9.82, a price-to-earnings-growth 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.

CVS Health (NYSE:CVS) last released its quarterly earnings results on Wednesday, May 1st. The pharmacy operator reported $1.31 EPS for the quarter, missing the consensus estimate of $1.69 by ($0.38). The firm had revenue of $88.44 billion for the quarter, compared to analysts’ expectations of $89.33 billion. CVS Health had a net margin of 2.03% and a return on equity of 13.53%. The business’s quarterly revenue was up 3.7% compared to the same quarter last year. During the same period in the previous year, the company posted $2.20 earnings per share. As a group, analysts forecast that CVS Health will post 7.03 EPS for the current fiscal year.

CVS Health Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, May 1st. Shareholders of record on Monday, April 22nd were paid a $0.665 dividend. This represents a $2.66 annualized dividend and a yield of 4.76%. The ex-dividend date was Friday, April 19th. CVS Health’s payout ratio is presently 46.75%.

Insider Activity

In other news, Director Edward J. Ludwig purchased 1,000 shares of the company’s stock in a transaction on Thursday, May 2nd. The shares were purchased at an average cost of $53.88 per share, with a total value of $53,880.00. Following the completion of 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 filing with the SEC, which is available through this link. In other news, 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 value of $2,267,947.35. Following the sale, the executive vice president now directly owns 39,765 shares in the company, valued at approximately $3,059,916.75. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Edward J. Ludwig bought 1,000 shares of the business’s 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 completion of the transaction, the director now owns 21,630 shares in the company, valued at $1,165,424.40. The disclosure for this purchase can be found here. Corporate insiders own 0.24% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in CVS. Atticus Wealth Management LLC increased its stake in shares of CVS Health by 149.0% in the 4th quarter. Atticus Wealth Management LLC now owns 366 shares of the pharmacy operator’s stock valued at $29,000 after acquiring an additional 219 shares in the last quarter. USA Financial Formulas boosted its holdings in shares of CVS Health by 573.2% in the 4th quarter. USA Financial Formulas now owns 377 shares of the pharmacy operator’s stock worth $30,000 after buying an additional 321 shares during the last quarter. Ables Iannone Moore & Associates Inc. purchased a new position in shares of CVS Health in the 4th quarter worth about $32,000. Creekmur Asset Management LLC bought a new stake in CVS Health in the 4th quarter valued at about $34,000. Finally, Steph & Co. raised its stake in CVS Health by 192.0% in the 1st quarter. Steph & Co. now owns 438 shares of the pharmacy operator’s stock valued at $35,000 after acquiring an additional 288 shares during the period. Institutional investors own 80.66% of the company’s stock.

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.