CVS Health Corporation (CVS) Downgraded by TheStreet

TheStreet cut shares of CVS Health Corporation (NYSE:CVS) from a b- rating to a c+ rating in a research note issued to investors on Tuesday.

Several other equities analysts have also recently commented on CVS. Needham & Company LLC restated a hold rating on shares of CVS Health Corporation in a research report on Sunday, September 10th. Oppenheimer Holdings, Inc. restated a buy rating and set a $95.00 target price on shares of CVS Health Corporation in a research report on Monday, October 9th. BidaskClub cut CVS Health Corporation from a hold rating to a sell rating in a research report on Friday, August 25th. SunTrust Banks, Inc. set a $85.00 target price on CVS Health Corporation and gave the stock a buy rating in a research report on Thursday, October 12th. Finally, Guggenheim restated a buy rating on shares of CVS Health Corporation in a research report on Monday, July 3rd. One research analyst has rated the stock with a sell rating, nine have issued a hold rating and fifteen have assigned a buy rating to the company’s stock. CVS Health Corporation presently has an average rating of Buy and an average price target of $87.98.

CVS Health Corporation (NYSE:CVS) last announced its quarterly earnings results on Tuesday, August 8th. The pharmacy operator reported $1.33 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.31 by $0.02. The company had revenue of $45.69 billion during the quarter, compared to analysts’ expectations of $45.36 billion. CVS Health Corporation had a return on equity of 17.47% and a net margin of 2.93%. The firm’s quarterly revenue was up 4.5% compared to the same quarter last year. During the same period in the previous year, the business earned $1.32 earnings per share.

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The business also recently announced a quarterly dividend, which will be paid on Friday, November 3rd. Stockholders of record on Tuesday, October 24th will be paid a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a dividend yield of 2.88%. The ex-dividend date is Monday, October 23rd. CVS Health Corporation’s dividend payout ratio (DPR) is presently 39.92%.

In other CVS Health Corporation news, EVP Thomas M. Moriarty sold 20,547 shares of the company’s stock in a transaction that occurred on Monday, October 2nd. The stock was sold at an average price of $81.17, for a total transaction of $1,667,799.99. Following the completion of the transaction, the executive vice president now owns 43,178 shares of the company’s stock, valued at approximately $3,504,758.26. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Larry J. Merlo sold 241,150 shares of the company’s stock in a transaction that occurred on Wednesday, September 13th. The shares were sold at an average price of $83.07, for a total value of $20,032,330.50. Following the transaction, the insider now directly owns 299,255 shares of the company’s stock, valued at approximately $24,859,112.85. The disclosure for this sale can be found here. In the last three months, insiders sold 716,625 shares of company stock valued at $58,318,431. 0.61% of the stock is currently owned by corporate insiders.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in CVS. Stevens First Principles Investment Advisors raised its position in CVS Health Corporation by 0.8% during the 1st quarter. Stevens First Principles Investment Advisors now owns 39,446 shares of the pharmacy operator’s stock valued at $3,097,000 after purchasing an additional 315 shares during the last quarter. Eagle Ridge Investment Management raised its position in CVS Health Corporation by 3.7% during the 1st quarter. Eagle Ridge Investment Management now owns 177,368 shares of the pharmacy operator’s stock valued at $13,923,000 after purchasing an additional 6,350 shares during the last quarter. Cypress Capital Management LLC raised its position in CVS Health Corporation by 22.0% during the 1st quarter. Cypress Capital Management LLC now owns 9,693 shares of the pharmacy operator’s stock valued at $761,000 after purchasing an additional 1,748 shares during the last quarter. Rhumbline Advisers raised its position in CVS Health Corporation by 1.1% during the 1st quarter. Rhumbline Advisers now owns 1,830,137 shares of the pharmacy operator’s stock valued at $143,666,000 after purchasing an additional 19,759 shares during the last quarter. Finally, First Trust Advisors LP raised its position in CVS Health Corporation by 34.8% during the 1st quarter. First Trust Advisors LP now owns 739,753 shares of the pharmacy operator’s stock valued at $58,071,000 after purchasing an additional 190,893 shares during the last quarter. 81.64% of the stock is owned by institutional investors and hedge funds.

About CVS Health Corporation

CVS Health Corporation, together with its subsidiaries, is an integrated pharmacy healthcare company. The Company provides pharmacy care for the senior community through Omnicare, Inc (Omnicare) and Omnicare’s long-term care (LTC) operations, which include distribution of pharmaceuticals, related pharmacy consulting and other ancillary services to chronic care facilities and other care settings.

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