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

CVS Health (NYSE:CVS) was downgraded by equities researchers at TD Cowen from a “buy” rating to a “hold” rating in a report released on Tuesday, MarketBeat.com reports. They presently have a $59.00 price objective on the pharmacy operator’s stock, down from their prior price objective of $99.00. TD Cowen’s target price points to a potential upside of 7.41% from the company’s previous close.

CVS has been the subject of a number of other research reports. Leerink Partnrs lowered shares of CVS Health from an “outperform” rating to a “market perform” rating in a research note on Wednesday, May 1st. The Goldman Sachs Group reduced their price target on shares of CVS Health from $85.00 to $74.00 and set a “buy” rating for the company in a research note on Thursday, May 2nd. Barclays reduced their target price on shares of CVS Health from $78.00 to $63.00 and set an “equal weight” rating for the company in a report on Thursday, May 2nd. Royal Bank of Canada decreased 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. Finally, StockNews.com cut shares of CVS Health from a “buy” rating to a “hold” rating in a report on Thursday, February 15th. Nine investment 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 presently has an average rating of “Moderate Buy” and an average target price of $76.75.

CVS Health Trading Down 1.5 %

CVS Health stock opened at $54.93 on Tuesday. The stock has a market cap of $68.96 billion, a PE ratio of 9.65, a P/E/G ratio of 0.88 and a beta of 0.56. The company has a current ratio of 0.81, a quick ratio of 0.61 and a debt-to-equity ratio of 0.78. CVS Health has a 52 week low of $53.70 and a 52 week high of $83.25. The stock has a 50-day moving average price of $71.95 and a 200 day moving average price of $73.09.

CVS Health (NYSE:CVS) last announced its quarterly earnings results on Wednesday, May 1st. The pharmacy operator reported $1.31 earnings per share 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 during the quarter, compared to analyst estimates of $89.33 billion. During the same quarter last year, the business earned $2.20 EPS. The firm’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 earnings per share for the current fiscal year.

Insider Activity at CVS Health

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

Institutional Investors Weigh In On CVS Health

Several large investors have recently modified their holdings of the business. Norges Bank acquired a new position in CVS Health during the fourth quarter worth $1,092,040,000. Capital International Investors raised its stake in CVS Health by 47.4% in the fourth quarter. Capital International Investors now owns 33,691,698 shares of the pharmacy operator’s stock valued at $2,660,298,000 after purchasing an additional 10,837,801 shares in the last quarter. FMR LLC increased its stake in CVS Health by 29.1% in the third quarter. FMR LLC now owns 27,487,238 shares of the pharmacy operator’s stock valued at $1,919,159,000 after acquiring an additional 6,194,441 shares during the last quarter. Pzena Investment Management LLC lifted its position in shares of CVS Health by 573.8% during the 1st quarter. Pzena Investment Management LLC now owns 5,553,457 shares of the pharmacy operator’s stock worth $442,944,000 after buying an additional 4,729,207 shares during the last quarter. Finally, Clearbridge Investments LLC boosted its position in CVS Health by 306.6% in the fourth quarter. Clearbridge Investments LLC now owns 3,046,216 shares of the pharmacy operator’s stock valued at $240,529,000 after buying an additional 2,297,100 shares in the last quarter. 80.66% of the stock is currently owned by institutional investors.

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.