CVS Health (NYSE:CVS) Trading Down 0.2% – Here’s Why

CVS Health Co. (NYSE:CVS)’s stock price fell 0.2% on Monday . The stock traded as low as $55.25 and last traded at $56.35. 3,421,627 shares were traded during mid-day trading, a decline of 73% from the average session volume of 12,896,416 shares. The stock had previously closed at $56.48.

Wall Street Analyst Weigh In

A number of analysts have recently commented on the stock. Piper Sandler dropped their target price on shares of CVS Health from $72.00 to $64.00 and set an “overweight” rating on the stock in a report on Monday, November 25th. Evercore ISI boosted their target price on shares of CVS Health from $60.00 to $65.00 and gave the company an “outperform” rating in a report on Monday, January 27th. Mizuho dropped their target price on shares of CVS Health from $73.00 to $66.00 and set an “outperform” rating on the stock in a report on Thursday, October 24th. Deutsche Bank Aktiengesellschaft upgraded shares of CVS Health from a “hold” rating to a “buy” rating and set a $66.00 target price on the stock in a report on Tuesday, December 3rd. Finally, Edward Jones upgraded shares of CVS Health from a “hold” rating to a “buy” rating in a research note on Thursday. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and fourteen have given a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $68.12.

CVS Health Stock Down 0.9 %

The company’s fifty day moving average is $51.24 and its 200-day moving average is $56.13. The company has a market capitalization of $70.46 billion, a PE ratio of 14.21, a price-to-earnings-growth ratio of 0.62 and a beta of 0.61. The company has a debt-to-equity ratio of 0.80, a quick ratio of 0.59 and a current ratio of 0.80.

CVS Health (NYSE:CVS) last released its earnings results on Wednesday, November 6th. The pharmacy operator reported $1.09 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.08 by $0.01. The company had revenue of $95.43 billion during the quarter, compared to analyst estimates of $92.72 billion. CVS Health had a net margin of 1.36% and a return on equity of 10.72%. The firm’s quarterly revenue was up 6.3% compared to the same quarter last year. During the same period in the prior year, the firm posted $2.21 EPS. As a group, analysts predict that CVS Health Co. will post 5.14 EPS for the current fiscal year.

CVS Health Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, February 3rd. Stockholders of record on Thursday, January 23rd will be given a dividend of $0.665 per share. The ex-dividend date of this dividend is Thursday, January 23rd. This represents a $2.66 dividend on an annualized basis and a dividend yield of 4.75%. CVS Health’s dividend payout ratio is currently 67.51%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of CVS. Assetmark Inc. raised its holdings in CVS Health by 9.7% during the 3rd quarter. Assetmark Inc. now owns 410,001 shares of the pharmacy operator’s stock valued at $25,781,000 after buying an additional 36,132 shares during the period. TD Private Client Wealth LLC raised its holdings in CVS Health by 28.7% during the 3rd quarter. TD Private Client Wealth LLC now owns 46,938 shares of the pharmacy operator’s stock valued at $2,951,000 after buying an additional 10,465 shares during the period. Cullinan Associates Inc. raised its holdings in CVS Health by 43.8% during the 3rd quarter. Cullinan Associates Inc. now owns 122,682 shares of the pharmacy operator’s stock valued at $7,125,000 after buying an additional 37,395 shares during the period. Principal Financial Group Inc. raised its holdings in CVS Health by 4.8% during the 3rd quarter. Principal Financial Group Inc. now owns 1,434,476 shares of the pharmacy operator’s stock valued at $90,200,000 after buying an additional 66,244 shares during the period. Finally, Sompo Asset Management Co. Ltd. raised its holdings in CVS Health by 8.4% during the 3rd quarter. Sompo Asset Management Co. Ltd. now owns 134,523 shares of the pharmacy operator’s stock valued at $8,459,000 after buying an additional 10,453 shares during the period. 80.66% of the stock is currently owned by institutional investors.

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.