Traders Buy Shares of CVS Health (CVS) on Weakness on Analyst Downgrade

Traders purchased shares of CVS Health Corp (NYSE:CVS) on weakness during trading hours on Friday after Robert W. Baird lowered their price target on the stock from $85.00 to $80.00. $250.98 million flowed into the stock on the tick-up and $220.16 million flowed out of the stock on the tick-down, for a money net flow of $30.82 million into the stock. Of all equities tracked, CVS Health had the 16th highest net in-flow for the day. CVS Health traded down ($1.16) for the day and closed at $69.39

A number of other research analysts have also recently weighed in on the company. Royal Bank of Canada set a $89.00 price target on CVS Health and gave the company a “buy” rating in a research report on Thursday. Needham & Company LLC cut CVS Health from a “strong-buy” rating to a “buy” rating and dropped their price target for the company from $100.00 to $98.00 in a research report on Friday. ValuEngine lowered CVS Health from a “buy” rating to a “hold” rating in a research note on Friday, February 2nd. Mizuho set a $95.00 price objective on CVS Health and gave the company a “buy” rating in a research note on Wednesday, January 24th. Finally, Cowen reaffirmed an “outperform” rating and set a $99.00 price objective (up previously from $81.00) on shares of CVS Health in a research note on Thursday, January 18th. Two research analysts have rated the stock with a sell rating, seven have given a hold rating, twelve have given a buy rating and two have assigned a strong buy rating to the company. The company has a consensus rating of “Buy” and an average target price of $87.77.

In other CVS Health news, EVP Lisa Bisaccia sold 29,445 shares of the firm’s stock in a transaction dated Thursday, December 21st. The stock was sold at an average price of $75.00, for a total value of $2,208,375.00. Following the sale, the executive vice president now directly owns 15,556 shares of the company’s stock, valued at approximately $1,166,700. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 0.61% of the stock is owned by company insiders.

Large investors have recently modified their holdings of the business. Pathstone Family Office LLC boosted its stake in CVS Health by 341.0% in the 2nd quarter. Pathstone Family Office LLC now owns 1,270 shares of the pharmacy operator’s stock worth $2,353,000 after buying an additional 982 shares during the last quarter. Wealthcare Advisory Partners LLC boosted its stake in CVS Health by 330.3% in the 3rd quarter. Wealthcare Advisory Partners LLC now owns 1,291 shares of the pharmacy operator’s stock worth $105,000 after buying an additional 991 shares during the last quarter. Fieldpoint Private Securities LLC boosted its stake in CVS Health by 333.3% in the 2nd quarter. Fieldpoint Private Securities LLC now owns 1,300 shares of the pharmacy operator’s stock worth $105,000 after buying an additional 1,000 shares during the last quarter. Arcadia Investment Management Corp MI boosted its stake in CVS Health by 119.6% in the 3rd quarter. Arcadia Investment Management Corp MI now owns 1,333 shares of the pharmacy operator’s stock worth $108,000 after buying an additional 726 shares during the last quarter. Finally, MPS Loria Financial Planners LLC acquired a new stake in CVS Health in the 2nd quarter worth about $119,000. 81.69% of the stock is currently owned by hedge funds and other institutional investors.

The company has a quick ratio of 0.55, a current ratio of 1.05 and a debt-to-equity ratio of 0.67. The stock has a market capitalization of $70,290.00, a P/E ratio of 11.76, a PEG ratio of 1.24 and a beta of 0.92.

CVS Health (NYSE:CVS) last released its quarterly earnings data on Thursday, February 8th. The pharmacy operator reported $1.92 earnings per share for the quarter, beating the consensus estimate of $1.88 by $0.04. The business had revenue of $48.39 billion for the quarter, compared to analyst estimates of $47.54 billion. CVS Health had a return on equity of 16.96% and a net margin of 2.77%. The company’s revenue was up 5.3% compared to the same quarter last year. During the same period in the previous year, the company posted $1.71 EPS. research analysts expect that CVS Health Corp will post 5.88 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which was paid on Friday, February 2nd. Stockholders of record on Wednesday, January 24th were paid a $0.50 dividend. This represents a $2.00 annualized dividend and a dividend yield of 2.88%. The ex-dividend date of this dividend was Tuesday, January 23rd. CVS Health’s dividend payout ratio is currently 33.90%.

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CVS Health Company Profile

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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