CVS Health (NYSE:CVS) Lowered to Hold at TD Cowen

TD Cowen cut shares of CVS Health (NYSE:CVS) from a buy rating to a hold rating in a report issued on Tuesday morning, Marketbeat reports. TD Cowen currently has $59.00 price objective on the pharmacy operator’s stock, down from their previous price objective of $99.00.

Several other equities research analysts have also weighed in on the stock. Cantor Fitzgerald lowered shares of CVS Health from an overweight rating to a neutral rating and dropped their price objective for the stock from $87.00 to $58.00 in a research note on Wednesday, May 1st. Wells Fargo & Company lowered 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. Mizuho reduced their price target on shares of CVS Health from $86.00 to $72.00 and set a buy rating for the company in a report on Thursday, May 2nd. Royal Bank of Canada dropped their price objective on shares of CVS Health from $86.00 to $84.00 and set an outperform rating on the stock in a report on Thursday, February 8th. Finally, StockNews.com lowered shares of CVS Health from a buy rating to a hold rating in a research note on Thursday, February 15th. Nine research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of Moderate Buy and an average price target of $77.55.

CVS Health Trading Down 0.4 %

NYSE CVS opened at $55.74 on Tuesday. The company has a market capitalization of $69.97 billion, a price-to-earnings ratio of 9.80, a price-to-earnings-growth ratio of 0.88 and a beta of 0.56. The company’s fifty day moving average price is $71.95 and its two-hundred day moving average price is $73.09. The company has a debt-to-equity ratio of 0.78, a current ratio of 0.81 and a quick ratio of 0.61. CVS Health has a 12 month low of $53.70 and a 12 month high of $83.25.

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

CVS Health Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, May 1st. Investors of record on Monday, April 22nd were paid a dividend of $0.665 per share. The ex-dividend date of this dividend was Friday, April 19th. This represents a $2.66 annualized dividend and a yield of 4.77%. CVS Health’s dividend payout ratio is 46.75%.

Insider Activity

In other CVS Health news, EVP Prem S. Shah sold 29,473 shares of the company’s stock in a transaction 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 sale, the executive vice president now directly owns 39,765 shares in the company, valued at $3,059,916.75. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, Director Edward J. Ludwig acquired 1,000 shares of CVS Health stock in a transaction on Thursday, May 2nd. The shares were purchased at an average price of $53.88 per share, with a total value of $53,880.00. Following the acquisition, the director now owns 21,630 shares in the company, valued at $1,165,424.40. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, EVP Prem S. Shah sold 29,473 shares of the business’s stock in a transaction 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 sale, the executive vice president now owns 39,765 shares of the company’s stock, valued at approximately $3,059,916.75. The disclosure for this sale can be found here. 0.24% of the stock is currently owned by company insiders.

Institutional Trading of CVS Health

Institutional investors and hedge funds have recently made changes to their positions in the business. Atticus Wealth Management LLC increased its holdings in shares of CVS Health by 149.0% in the fourth quarter. Atticus Wealth Management LLC now owns 366 shares of the pharmacy operator’s stock worth $29,000 after acquiring an additional 219 shares in the last quarter. USA Financial Formulas increased its stake in CVS Health by 573.2% during the 4th quarter. USA Financial Formulas now owns 377 shares of the pharmacy operator’s stock worth $30,000 after purchasing an additional 321 shares in the last quarter. Ables Iannone Moore & Associates Inc. bought a new position in CVS Health in the fourth quarter valued at approximately $32,000. Creekmur Asset Management LLC acquired a new position in shares of CVS Health in the fourth quarter valued at approximately $34,000. Finally, Steph & Co. increased its position in shares of CVS Health by 192.0% during the first quarter. Steph & Co. now owns 438 shares of the pharmacy operator’s stock worth $35,000 after acquiring an additional 288 shares in the last quarter. 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.