CVS Health (NYSE:CVS) Shares Gap Down to $79.56

CVS Health Co. (NYSE:CVSGet Free Report) shares gapped down prior to trading on Tuesday . The stock had previously closed at $79.56, but opened at $74.88. CVS Health shares last traded at $73.68, with a volume of 3,456,444 shares changing hands.

Analyst Upgrades and Downgrades

CVS has been the subject of several recent research reports. Piper Sandler boosted their price target on CVS Health from $93.00 to $94.00 and gave the company an “overweight” rating in a research note on Friday, March 15th. HSBC initiated coverage on CVS Health in a research report on Friday, December 22nd. They set a “buy” rating and a $94.00 target price for the company. SVB Leerink initiated coverage on CVS Health in a research report on Monday, February 26th. They set an “outperform” rating and a $88.00 target price for the company. TD Cowen cut their target price on CVS Health from $102.00 to $99.00 and set an “outperform” rating for the company in a research report on Monday, December 11th. Finally, StockNews.com downgraded CVS Health from a “buy” rating to a “hold” rating in a research report on Thursday, February 15th. Four research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $89.44.

Check Out Our Latest Report on CVS Health

CVS Health Trading Up 1.1 %

The business has a fifty day simple moving average of $76.01 and a 200-day simple moving average of $73.72. The company has a debt-to-equity ratio of 0.77, a quick ratio of 0.63 and a current ratio of 0.86. The firm has a market cap of $93.91 billion, a price-to-earnings ratio of 11.55, a PEG ratio of 0.98 and a beta of 0.52.

CVS Health (NYSE:CVSGet Free Report) last issued its earnings results on Wednesday, February 7th. The pharmacy operator reported $2.12 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.01 by $0.11. The business had revenue of $93.81 billion during the quarter, compared to analysts’ expectations of $90.58 billion. CVS Health had a return on equity of 15.25% and a net margin of 2.33%. The business’s revenue for the quarter was up 11.9% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.99 EPS. As a group, equities analysts forecast that CVS Health Co. will post 8.33 earnings per share for the current fiscal year.

CVS Health Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, May 1st. Investors of record on Monday, April 22nd will be paid a dividend of $0.665 per share. The ex-dividend date is Friday, April 19th. This represents a $2.66 annualized dividend and a yield of 3.56%. CVS Health’s dividend payout ratio is currently 41.18%.

Insiders Place Their Bets

In other CVS Health news, EVP Prem S. Shah sold 29,473 shares of the 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 transaction, the executive vice president now owns 39,765 shares in the company, valued at $3,059,916.75. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Corporate insiders own 0.25% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the stock. Live Oak Investment Partners bought a new position in shares of CVS Health in the fourth quarter valued at approximately $25,000. Atticus Wealth Management LLC increased its position in shares of CVS Health by 149.0% during the fourth quarter. Atticus Wealth Management LLC now owns 366 shares of the pharmacy operator’s stock valued at $29,000 after acquiring an additional 219 shares during the last quarter. USA Financial Formulas increased its position in shares of CVS Health by 573.2% during the fourth quarter. USA Financial Formulas now owns 377 shares of the pharmacy operator’s stock valued at $30,000 after acquiring an additional 321 shares during the last quarter. Ables Iannone Moore & Associates Inc. purchased a new stake in shares of CVS Health during the fourth quarter valued at approximately $32,000. Finally, Creekmur Asset Management LLC purchased a new stake in shares of CVS Health during the fourth quarter valued at approximately $34,000. Institutional investors own 80.66% of the company’s stock.

About CVS Health

(Get Free Report)

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.

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