CVS Health (NYSE:CVS) Hits New 52-Week Low – Here’s Why

Shares of CVS Health Co. (NYSE:CVS) hit a new 52-week low during trading on Wednesday . The company traded as low as $52.55 and last traded at $52.72, with a volume of 5050176 shares traded. The stock had previously closed at $55.15.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on CVS. Royal Bank of Canada decreased their price target on shares of CVS Health from $68.00 to $58.00 and set an “outperform” rating for the company in a research note on Friday, November 15th. Cantor Fitzgerald reiterated a “neutral” rating and issued a $62.00 target price on shares of CVS Health in a report on Tuesday, October 1st. Truist Financial restated a “buy” rating and set a $67.00 price target (down previously from $76.00) on shares of CVS Health in a research note on Wednesday, November 20th. Deutsche Bank Aktiengesellschaft raised shares of CVS Health from a “hold” rating to a “buy” rating and set a $66.00 price objective for the company in a research note on Tuesday, December 3rd. Finally, Mizuho cut their target price on shares of CVS Health from $73.00 to $66.00 and set an “outperform” rating on the stock in a research report on Thursday, October 24th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and fourteen have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $70.50.

CVS Health Stock Down 5.2 %

The company has a debt-to-equity ratio of 0.80, a quick ratio of 0.59 and a current ratio of 0.80. The company has a market capitalization of $65.76 billion, a price-to-earnings ratio of 13.38, a PEG ratio of 0.95 and a beta of 0.54. The business’s 50 day moving average is $59.05 and its 200 day moving average is $58.77.

CVS Health (NYSE:CVS) last announced its quarterly earnings data on Wednesday, November 6th. The pharmacy operator reported $1.09 earnings per share for the quarter, beating analysts’ consensus estimates of $1.08 by $0.01. The firm had revenue of $95.43 billion for 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 business’s quarterly revenue was up 6.3% compared to the same quarter last year. During the same period in the previous year, the company earned $2.21 earnings per share. Sell-side analysts anticipate that CVS Health Co. will post 5.32 earnings per share for the current year.

CVS Health Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, November 1st. Investors of record on Monday, October 21st were issued a dividend of $0.665 per share. This represents a $2.66 dividend on an annualized basis and a dividend yield of 5.09%. The ex-dividend date of this dividend was Monday, October 21st. CVS Health’s dividend payout ratio (DPR) is 67.51%.

Institutional Trading of CVS Health

Hedge funds and other institutional investors have recently made changes to their positions in the business. Old North State Trust LLC purchased a new stake in CVS Health in the 3rd quarter worth approximately $200,000. Tidal Investments LLC boosted its holdings in CVS Health by 52.2% during the third quarter. Tidal Investments LLC now owns 112,010 shares of the pharmacy operator’s stock worth $7,043,000 after buying an additional 38,408 shares in the last quarter. Wilmington Savings Fund Society FSB purchased a new position in CVS Health in the third quarter valued at $2,071,000. World Investment Advisors LLC raised its position in shares of CVS Health by 280.7% in the third quarter. World Investment Advisors LLC now owns 27,543 shares of the pharmacy operator’s stock worth $1,732,000 after acquiring an additional 20,308 shares during the period. Finally, Sanctuary Advisors LLC boosted its stake in shares of CVS Health by 42.0% during the 3rd quarter. Sanctuary Advisors LLC now owns 192,436 shares of the pharmacy operator’s stock worth $11,163,000 after acquiring an additional 56,890 shares in the last quarter. Institutional investors and hedge funds 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.