CVS Health (NYSE:CVS) Downgraded to Hold Rating by Zacks Research

Zacks Research downgraded shares of CVS Health (NYSE:CVS) from a strong-buy rating to a hold rating in a report published on Monday,Zacks.com reports.

A number of other research firms have also recently commented on CVS. Sanford C. Bernstein boosted their price target on CVS Health from $72.00 to $77.00 and gave the stock a “market perform” rating in a report on Friday, September 5th. Baird R W upgraded CVS Health from a “hold” rating to a “strong-buy” rating in a research report on Thursday, August 14th. Morgan Stanley boosted their price objective on CVS Health from $80.00 to $82.00 and gave the stock an “overweight” rating in a research report on Friday, August 1st. Cantor Fitzgerald restated an “overweight” rating and set a $78.00 price objective on shares of CVS Health in a research report on Tuesday, August 26th. Finally, Bernstein Bank reduced their price objective on CVS Health from $78.00 to $72.00 and set a “market perform” rating on the stock in a research report on Wednesday, July 16th. Two research analysts have rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $77.89.

CVS Health Price Performance

CVS Health stock opened at $73.93 on Monday. The company has a debt-to-equity ratio of 0.74, a quick ratio of 0.62 and a current ratio of 0.80. CVS Health has a 52 week low of $43.56 and a 52 week high of $74.53. The stock has a market capitalization of $93.76 billion, a P/E ratio of 20.65, a price-to-earnings-growth ratio of 0.79 and a beta of 0.62. The stock has a fifty day moving average of $66.82 and a 200-day moving average of $66.14.

CVS Health (NYSE:CVS) last posted its quarterly earnings results on Thursday, July 31st. The pharmacy operator reported $1.81 EPS for the quarter, topping analysts’ consensus estimates of $1.46 by $0.35. CVS Health had a return on equity of 10.51% and a net margin of 1.17%.The company had revenue of $98.92 billion during the quarter, compared to analysts’ expectations of $94.87 billion. During the same quarter in the previous year, the firm earned $1.83 EPS. CVS Health’s revenue was up 8.4% on a year-over-year basis. CVS Health has set its FY 2025 guidance at 6.300-6.400 EPS. On average, sell-side analysts expect that CVS Health will post 5.89 earnings per share for the current fiscal year.

CVS Health Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, August 1st. Shareholders of record on Tuesday, July 22nd were given a $0.665 dividend. This represents a $2.66 dividend on an annualized basis and a dividend yield of 3.6%. The ex-dividend date was Tuesday, July 22nd. CVS Health’s payout ratio is 74.30%.

Insider Activity at CVS Health

In other CVS Health news, Director Anne A. Finucane sold 7,500 shares of the company’s stock in a transaction dated Wednesday, August 20th. The stock was sold at an average price of $71.02, for a total value of $532,650.00. Following the sale, the director owned 22,156 shares in the company, valued at approximately $1,573,519.12. The trade was a 25.29% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Company insiders own 1.22% of the company’s stock.

Institutional Investors Weigh In On CVS Health

Institutional investors have recently made changes to their positions in the stock. Avion Wealth grew its position in shares of CVS Health by 99.0% in the 2nd quarter. Avion Wealth now owns 380 shares of the pharmacy operator’s stock valued at $26,000 after buying an additional 189 shares during the last quarter. Harbor Asset Planning Inc. bought a new stake in shares of CVS Health during the 2nd quarter valued at about $30,000. Bell Investment Advisors Inc boosted its position in shares of CVS Health by 119.8% during the 1st quarter. Bell Investment Advisors Inc now owns 455 shares of the pharmacy operator’s stock valued at $31,000 after purchasing an additional 248 shares in the last quarter. Front Row Advisors LLC boosted its position in shares of CVS Health by 436.5% during the 2nd quarter. Front Row Advisors LLC now owns 456 shares of the pharmacy operator’s stock valued at $31,000 after purchasing an additional 371 shares in the last quarter. Finally, McIlrath & Eck LLC boosted its position in shares of CVS Health by 32.6% during the 4th quarter. McIlrath & Eck LLC now owns 707 shares of the pharmacy operator’s stock valued at $32,000 after purchasing an additional 174 shares in the last quarter. Institutional investors own 80.66% of the company’s stock.

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.