CVS Health (NYSE:CVS) Shares Down 0.6% – Here’s Why

CVS Health Co. (NYSE:CVS)’s share price dropped 0.6% during trading on Tuesday . The stock traded as low as $50.93 and last traded at $51.22. Approximately 3,163,712 shares changed hands during mid-day trading, a decline of 77% from the average daily volume of 13,606,966 shares. The stock had previously closed at $51.52.

Analyst Upgrades and Downgrades

CVS has been the subject of several recent research reports. Piper Sandler lowered their price objective on CVS Health from $72.00 to $64.00 and set an “overweight” rating for the company in a research note on Monday, November 25th. Royal Bank of Canada cut their price target on shares of CVS Health from $68.00 to $58.00 and set an “outperform” rating on the stock in a report on Friday, November 15th. StockNews.com downgraded CVS Health from a “hold” rating to a “sell” rating in a report on Thursday, November 14th. Wells Fargo & Company raised CVS Health from an “equal weight” rating to an “overweight” rating and lifted their target price for the stock from $60.00 to $66.00 in a report on Monday, November 18th. Finally, TD Cowen raised their price objective on CVS Health from $73.00 to $80.00 and gave the stock a “buy” rating in a research report on Monday, November 25th. One research analyst has rated the stock with a sell rating, six have given a hold rating and thirteen have assigned a buy rating to the company. Based on data from MarketBeat, CVS Health has an average rating of “Moderate Buy” and an average target price of $68.71.

CVS Health Trading Down 0.6 %

The stock’s fifty day simple moving average is $51.76 and its two-hundred day simple moving average is $56.49. The firm has a market cap of $64.44 billion, a PE ratio of 13.00, a PEG ratio of 0.85 and a beta of 0.59. The company has a quick ratio of 0.59, a current ratio of 0.80 and a debt-to-equity ratio of 0.80.

CVS Health (NYSE:CVS) last released its quarterly earnings data on Wednesday, November 6th. The pharmacy operator reported $1.09 EPS for the quarter, beating the consensus estimate of $1.08 by $0.01. The company had revenue of $95.43 billion for the quarter, compared to analysts’ expectations of $92.72 billion. CVS Health had a return on equity of 10.72% and a net margin of 1.36%. CVS Health’s revenue was up 6.3% compared to the same quarter last year. During the same period last year, the firm posted $2.21 earnings per share. On average, sell-side analysts forecast that CVS Health Co. will post 5.32 EPS for the current fiscal year.

CVS Health Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, February 3rd. Investors of record on Thursday, January 23rd will be issued a $0.665 dividend. The ex-dividend date is Thursday, January 23rd. This represents a $2.66 dividend on an annualized basis and a yield of 5.19%. CVS Health’s dividend payout ratio is presently 67.51%.

Institutional Trading of CVS Health

A number of large investors have recently added to or reduced their stakes in the company. Hotchkis & Wiley Capital Management LLC grew its stake in shares of CVS Health by 34.8% during the third quarter. Hotchkis & Wiley Capital Management LLC now owns 11,897,034 shares of the pharmacy operator’s stock valued at $748,085,000 after buying an additional 3,071,613 shares during the last quarter. State Street Corp raised its position in shares of CVS Health by 3.6% in the 3rd quarter. State Street Corp now owns 56,527,909 shares of the pharmacy operator’s stock valued at $3,554,475,000 after purchasing an additional 1,989,066 shares during the last quarter. TOMS Capital Investment Management LP purchased a new stake in CVS Health during the 3rd quarter valued at about $121,987,000. Pathway Financial Advisers LLC boosted its holdings in shares of CVS Health by 5,864.2% in the 3rd quarter. Pathway Financial Advisers LLC now owns 1,730,343 shares of the pharmacy operator’s stock valued at $108,804,000 after acquiring an additional 1,701,331 shares during the last quarter. Finally, AQR Capital Management LLC grew its holdings in CVS Health by 33.5% during the second quarter. AQR Capital Management LLC now owns 5,289,788 shares of the pharmacy operator’s stock worth $310,722,000 after acquiring an additional 1,327,855 shares during the period. Institutional investors own 80.66% of the company’s stock.

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.