CVS Health (NYSE:CVS) Rating Reiterated by Truist Financial

Truist Financial reiterated their buy rating on shares of CVS Health (NYSE:CVS) in a research note published on Thursday, Benzinga reports. They currently have a $66.00 price objective on the pharmacy operator’s stock, down from their previous price objective of $90.00.

Other research analysts have also issued research reports about the company. SVB Leerink reaffirmed a market perform rating and set a $60.00 price target (down previously from $87.00) on shares of CVS Health in a research report on Wednesday. StockNews.com lowered shares of CVS Health from a buy rating to a hold rating in a research report on Thursday, February 15th. Mizuho dropped their target price on shares of CVS Health from $86.00 to $72.00 and set a buy rating on the stock in a report on Thursday. Cantor Fitzgerald lowered CVS Health from an overweight rating to a neutral rating and dropped their price objective for the company from $87.00 to $58.00 in a research note on Wednesday. Finally, Piper Sandler lifted their target price on CVS Health from $93.00 to $94.00 and gave the stock an overweight rating in a research note on Friday, March 15th. Eight investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of Moderate Buy and a consensus price target of $80.35.

CVS Health Stock Up 1.4 %

NYSE CVS traded up $0.75 on Thursday, reaching $55.90. The company had a trading volume of 23,946,075 shares, compared to its average volume of 12,498,538. The company has a debt-to-equity ratio of 0.78, a quick ratio of 0.63 and a current ratio of 0.81. The firm has a market capitalization of $70.18 billion, a price-to-earnings ratio of 9.82, a price-to-earnings-growth ratio of 0.86 and a beta of 0.56. The company’s fifty day moving average is $72.77 and its 200-day moving average is $73.26. CVS Health has a 1-year low of $53.70 and a 1-year high of $83.25.

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

CVS Health Dividend Announcement

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

Insiders Place Their Bets

In other CVS Health news, Director Edward J. Ludwig acquired 1,000 shares of the company’s stock in a transaction that occurred on Thursday, May 2nd. The stock was acquired at an average cost of $53.88 per share, for a total transaction of $53,880.00. Following the transaction, the director now directly owns 21,630 shares in the company, valued at $1,165,424.40. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, EVP Prem S. Shah sold 29,473 shares of the company’s stock in a transaction that occurred on Friday, February 16th. The stock was sold at an average price of $76.95, for a total value of $2,267,947.35. Following the completion of the transaction, the executive vice president now owns 39,765 shares of the company’s stock, valued at $3,059,916.75. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Edward J. Ludwig purchased 1,000 shares of the company’s stock in a transaction dated Thursday, May 2nd. The shares were acquired at an average cost of $53.88 per share, with a total value of $53,880.00. Following the purchase, the director now directly owns 21,630 shares of the company’s stock, valued at approximately $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 and other institutional investors have recently bought and sold shares of CVS. Vanguard Group Inc. boosted its stake in shares of CVS Health by 0.5% in the 4th quarter. Vanguard Group Inc. now owns 117,696,285 shares of the pharmacy operator’s stock valued at $9,293,299,000 after purchasing an additional 533,659 shares during the last quarter. Capital World Investors grew its holdings in CVS Health by 0.3% during the 4th quarter. Capital World Investors now owns 40,544,702 shares of the pharmacy operator’s stock worth $3,201,410,000 after acquiring an additional 119,631 shares during the period. Capital International Investors raised its position in shares of CVS Health by 47.4% in the 4th quarter. Capital International Investors now owns 33,691,698 shares of the pharmacy operator’s stock worth $2,660,298,000 after acquiring an additional 10,837,801 shares in the last quarter. FMR LLC lifted its stake in shares of CVS Health by 29.1% in the 3rd quarter. FMR LLC now owns 27,487,238 shares of the pharmacy operator’s stock valued at $1,919,159,000 after purchasing an additional 6,194,441 shares during the period. Finally, Northern Trust Corp boosted its position in shares of CVS Health by 2.2% during the 3rd quarter. Northern Trust Corp now owns 14,214,296 shares of the pharmacy operator’s stock valued at $992,442,000 after purchasing an additional 305,564 shares in the last quarter. 80.66% of the stock is owned by institutional investors and hedge funds.

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.