CVS Health (NYSE:CVS) PT Lowered to $74.00 at The Goldman Sachs Group

CVS Health (NYSE:CVS) had its price target lowered by The Goldman Sachs Group from $85.00 to $74.00 in a report released on Thursday, Benzinga reports. The brokerage currently has a buy rating on the pharmacy operator’s stock.

A number of other research analysts have also commented on CVS. Mizuho cut their target price on CVS Health from $86.00 to $72.00 and set a buy rating for the company in a research note on Thursday. Wells Fargo & Company lowered their target price on shares of CVS Health from $83.00 to $76.00 and set an equal weight rating on the stock in a research note on Monday, April 8th. Cantor Fitzgerald cut shares of CVS Health from an overweight rating to a neutral rating and cut their price target for the stock from $87.00 to $58.00 in a research note on Wednesday. Piper Sandler upped their price objective on CVS Health from $93.00 to $94.00 and gave the company an overweight rating in a research note on Friday, March 15th. Finally, 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 report on Thursday, February 8th. Eight research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. Based on data from MarketBeat, CVS Health currently has a consensus rating of Moderate Buy and a consensus target price of $80.35.

CVS Health Stock Performance

NYSE:CVS traded up $0.75 during trading hours on Thursday, hitting $55.90. 23,946,075 shares of the company traded hands, compared to its average volume of 12,498,538. The company has a current ratio of 0.81, a quick ratio of 0.63 and a debt-to-equity ratio of 0.78. The stock has a market capitalization 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 has a 50-day moving average of $72.77 and a 200 day moving average of $73.26. CVS Health has a twelve month low of $53.70 and a twelve month high of $83.25.

CVS Health (NYSE:CVS) last released its earnings results 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 company had revenue of $88.44 billion during the quarter, compared to the consensus estimate of $89.33 billion. During the same quarter in the previous year, the business posted $2.20 EPS. The firm’s quarterly revenue was up 3.7% on a year-over-year basis. On average, analysts forecast that CVS Health will post 7.03 EPS for the current year.

CVS Health Dividend Announcement

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

Insider Activity at CVS Health

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

Institutional Trading of CVS Health

A number of hedge funds have recently modified their holdings of the company. Atticus Wealth Management LLC increased its stake in CVS Health by 149.0% in the fourth quarter. Atticus Wealth Management LLC now owns 366 shares of the pharmacy operator’s stock valued at $29,000 after purchasing an additional 219 shares in the last quarter. USA Financial Formulas grew its holdings in shares of CVS Health by 573.2% in the 4th quarter. USA Financial Formulas now owns 377 shares of the pharmacy operator’s stock valued at $30,000 after buying an additional 321 shares during the period. Cornerstone Planning Group LLC increased its position in shares of CVS Health by 111.5% in the 3rd 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 in the last quarter. Ables Iannone Moore & Associates Inc. bought a new position in CVS Health during the fourth quarter worth about $32,000. Finally, Creekmur Asset Management LLC acquired a new position in CVS Health in the fourth quarter valued at about $34,000. 80.66% of the stock is currently owned by institutional investors and hedge funds.

CVS Health Company Profile

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.