CVS Health (NYSE:CVS) Price Target Cut to $72.00

CVS Health (NYSE:CVS) had its target price decreased by Mizuho from $86.00 to $72.00 in a research report released on Thursday morning, Benzinga reports. Mizuho currently has a buy rating on the pharmacy operator’s stock.

CVS has been the subject of several other reports. Royal Bank of Canada cut their target price on CVS Health from $86.00 to $84.00 and set an outperform rating for the company in a research note on Thursday, February 8th. Cantor Fitzgerald cut CVS Health from an overweight rating to a neutral rating and decreased their target price for the company from $87.00 to $58.00 in a research report on Wednesday. Barclays started coverage on shares of CVS Health in a report on Wednesday, March 6th. They issued an equal weight rating and a $78.00 target price for the company. SVB Leerink reaffirmed a market perform rating and set a $60.00 price target (down from $87.00) on shares of CVS Health in a report on Wednesday. Finally, Wells Fargo & Company dropped their price objective on shares of 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. Eight equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of Moderate Buy and a consensus price target of $80.35.

CVS Health Price Performance

Shares of CVS traded up $0.75 during trading hours on Thursday, hitting $55.90. 23,946,075 shares of the company were exchanged, compared to its average volume of 12,498,538. The company has a quick ratio of 0.63, a current ratio of 0.81 and a debt-to-equity ratio of 0.78. CVS Health has a fifty-two week low of $53.70 and a fifty-two week high of $83.25. The company has a market cap of $70.18 billion, a price-to-earnings ratio of 9.82, a P/E/G ratio of 0.88 and a beta of 0.56. The firm’s fifty day moving average is $72.77 and its 200 day moving average is $73.26.

CVS Health (NYSE:CVS) last released its 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). 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 business earned $2.20 earnings per share. CVS Health’s quarterly revenue was up 3.7% compared to the same quarter last year. On average, equities analysts anticipate that CVS Health will post 7.03 earnings per share for the current fiscal year.

CVS Health Announces Dividend

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

Insider Buying and Selling at CVS Health

In other CVS Health news, Director Edward J. Ludwig acquired 1,000 shares of the company’s stock in a transaction dated Thursday, May 2nd. The shares were bought 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 $1,165,424.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, Director Edward J. Ludwig acquired 1,000 shares of the stock in a transaction dated Thursday, May 2nd. The stock was bought at an average price of $53.88 per share, for a total transaction 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 acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Prem S. Shah sold 29,473 shares of the stock in a transaction on Friday, February 16th. The stock was sold at an average price of $76.95, for a total transaction of $2,267,947.35. Following the transaction, the executive vice president now directly owns 39,765 shares in the company, valued at $3,059,916.75. The disclosure for this sale can be found here. Insiders own 0.24% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Atticus Wealth Management LLC lifted its holdings 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 worth $29,000 after purchasing an additional 219 shares in the last quarter. USA Financial Formulas lifted its stake in shares of CVS Health by 573.2% in the fourth quarter. USA Financial Formulas now owns 377 shares of the pharmacy operator’s stock valued at $30,000 after buying an additional 321 shares in the last quarter. Cornerstone Planning Group LLC grew its holdings in shares of CVS Health by 111.5% during the third quarter. Cornerstone Planning Group LLC now owns 461 shares of the pharmacy operator’s stock valued at $32,000 after buying an additional 243 shares during the last quarter. Ables Iannone Moore & Associates Inc. acquired a new stake in shares of CVS Health in the 4th quarter worth about $32,000. Finally, Creekmur Asset Management LLC bought a new position in CVS Health in the 4th quarter valued at about $34,000. 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.