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

Truist Financial reissued their buy rating on shares of CVS Health (NYSE:CVS) in a report issued on Thursday morning, Benzinga reports. They currently have a $66.00 price objective on the pharmacy operator’s stock, down from their prior price objective of $90.00.

CVS has been the subject of a number of other research reports. Cantor Fitzgerald lowered CVS Health from an overweight rating to a neutral rating and reduced their price objective for the company from $87.00 to $58.00 in a research report on Wednesday, May 1st. UBS Group lowered CVS Health from a buy rating to a neutral rating and reduced their price target for the stock from $85.00 to $60.00 in a research report on Thursday. Leerink Partnrs reiterated an outperform rating on shares of CVS Health in a research report on Monday, February 26th. StockNews.com lowered CVS Health from a buy rating to a hold rating in a research report on Thursday, February 15th. Finally, Piper Sandler boosted their price target on CVS Health from $93.00 to $94.00 and gave the stock an overweight rating in a research report on Friday, March 15th. Eight research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. According to data from MarketBeat, CVS Health currently has an average rating of Moderate Buy and a consensus price target of $80.35.

CVS Health Trading Up 1.4 %

NYSE:CVS opened at $55.90 on Thursday. CVS Health has a 12-month low of $53.70 and a 12-month high of $83.25. The firm has a market capitalization of $70.18 billion, a P/E ratio of 9.82, a P/E/G ratio of 0.88 and a beta of 0.56. The company has a debt-to-equity ratio of 0.78, a current ratio of 0.81 and a quick ratio of 0.61. The business has a 50 day simple moving average of $72.77 and a 200 day simple moving average of $73.29.

CVS Health (NYSE:CVS) last released its quarterly earnings data on Wednesday, May 1st. The pharmacy operator reported $1.31 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 for the quarter, compared to analyst estimates of $89.33 billion. During the same quarter in the prior year, the firm earned $2.20 EPS. The company’s revenue for the quarter was up 3.7% compared to the same quarter last year. Equities research analysts predict that CVS Health will post 7.03 EPS for the current year.

CVS Health Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, May 1st. Stockholders of record on Monday, April 22nd were given a dividend of $0.665 per share. This represents a $2.66 dividend on an annualized basis 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 purchased 1,000 shares of the company’s stock in a transaction that occurred on Thursday, May 2nd. The shares were purchased at an average cost of $53.88 per share, with a total value of $53,880.00. Following the completion of the transaction, the director now owns 21,630 shares of the company’s stock, valued at $1,165,424.40. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other CVS Health news, Director Edward J. Ludwig purchased 1,000 shares of the company’s stock in a transaction that occurred on Thursday, May 2nd. The shares were purchased at an average cost of $53.88 per share, with a total value of $53,880.00. Following the completion of the transaction, the director now owns 21,630 shares of the company’s stock, valued at $1,165,424.40. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Prem S. Shah sold 29,473 shares of the company’s stock in a transaction on Friday, February 16th. The shares were 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 directly owns 39,765 shares in the company, valued at $3,059,916.75. The disclosure for this sale can be found here. 0.24% of the stock is owned by insiders.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. Bryn Mawr Capital Management LLC increased its position in CVS Health by 74.0% in the 3rd quarter. Bryn Mawr Capital Management LLC now owns 43,213 shares of the pharmacy operator’s stock worth $3,017,000 after purchasing an additional 18,385 shares during the last quarter. Value Partners Investments Inc. increased its position in CVS Health by 26.5% in the 3rd quarter. Value Partners Investments Inc. now owns 991,601 shares of the pharmacy operator’s stock worth $69,261,000 after purchasing an additional 207,702 shares during the last quarter. Sonora Investment Management Group LLC boosted its stake in shares of CVS Health by 1.6% during the 3rd quarter. Sonora Investment Management Group LLC now owns 50,488 shares of the pharmacy operator’s stock worth $3,525,000 after acquiring an additional 774 shares in the last quarter. Checchi Capital Advisers LLC boosted its stake in shares of CVS Health by 2.3% during the 3rd quarter. Checchi Capital Advisers LLC now owns 10,405 shares of the pharmacy operator’s stock worth $726,000 after acquiring an additional 233 shares in the last quarter. Finally, Personal CFO Solutions LLC boosted its stake in shares of CVS Health by 2.6% during the 3rd quarter. Personal CFO Solutions LLC now owns 19,355 shares of the pharmacy operator’s stock worth $1,351,000 after acquiring an additional 491 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.