CVS Health (NYSE:CVS) Downgraded by Leerink Partnrs to “Market Perform”

Leerink Partnrs cut shares of CVS Health (NYSE:CVS) from an outperform rating to a market perform rating in a research note issued to investors on Wednesday, Zacks.com reports. Leerink Partnrs also issued estimates for CVS Health’s Q4 2024 earnings at $1.94 EPS and FY2027 earnings at $9.68 EPS.

CVS has been the topic of several other research reports. Barclays cut their price target on CVS Health from $78.00 to $63.00 and set an equal weight rating on the stock in a report on Thursday. Royal Bank of Canada reduced their target price on shares of CVS Health from $86.00 to $84.00 and set an outperform rating on the stock in a report on Thursday, February 8th. Mizuho lowered their price target on shares of CVS Health from $86.00 to $72.00 and set a buy rating for the company in a report on Thursday. SVB Leerink reaffirmed a market perform rating and set a $60.00 price objective (down from $87.00) on shares of CVS Health in a research report on Wednesday. Finally, Bank of America dropped their target price on CVS Health from $95.00 to $77.00 and set a buy rating on the stock in a report on Thursday. Eight investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to MarketBeat, CVS Health presently has a consensus rating of Moderate Buy and an average target price of $80.35.

CVS Health Stock Up 1.4 %

Shares of CVS opened at $55.90 on Wednesday. The company has a current ratio of 0.81, a quick ratio of 0.63 and a debt-to-equity ratio of 0.78. The firm has a market cap of $70.18 billion, a P/E ratio of 9.82, a price-to-earnings-growth ratio of 0.86 and a beta of 0.56. The company’s 50-day moving average price is $72.77 and its 200 day moving average price is $73.26. CVS Health has a 12-month low of $53.70 and a 12-month high of $83.25.

CVS Health (NYSE:CVS) last announced its earnings results on Wednesday, May 1st. The pharmacy operator reported $1.31 earnings per share (EPS) 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 firm had revenue of $88.44 billion during the quarter, compared to analysts’ expectations of $89.33 billion. During the same period in the previous year, the firm earned $2.20 EPS. The firm’s revenue for the quarter was up 3.7% compared to the same quarter last year. On average, sell-side analysts forecast that CVS Health will post 7.03 earnings per share for the current year.

CVS Health Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, May 1st. Stockholders of record on Monday, April 22nd were issued a dividend of $0.665 per share. This represents a $2.66 annualized dividend and a dividend yield of 4.76%. The ex-dividend date was Friday, April 19th. CVS Health’s dividend payout ratio (DPR) is presently 46.75%.

Insider Activity

In other news, EVP Prem S. Shah sold 29,473 shares of the company’s stock in a transaction that occurred on Friday, February 16th. The stock was sold at an average price of $76.95, for a total transaction of $2,267,947.35. Following the completion of the transaction, the executive vice president now directly owns 39,765 shares of the company’s stock, valued at $3,059,916.75. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other CVS Health news, Director Edward J. Ludwig acquired 1,000 shares of the firm’s stock in a transaction that occurred on Thursday, May 2nd. The stock was acquired at an average cost of $53.88 per share, with a total value of $53,880.00. Following the acquisition, the director now directly owns 21,630 shares of the company’s stock, valued at approximately $1,165,424.40. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Prem S. Shah sold 29,473 shares of the stock in a transaction that occurred on 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 completion of the transaction, the executive vice president now directly owns 39,765 shares of the company’s stock, valued at $3,059,916.75. The disclosure for this sale can be found here. Corporate insiders own 0.24% of the company’s stock.

Institutional Investors Weigh In On CVS Health

A number of institutional investors have recently added to or reduced their stakes in CVS. Atticus Wealth Management LLC lifted its position in shares of CVS Health by 149.0% during the 4th quarter. Atticus Wealth Management LLC now owns 366 shares of the pharmacy operator’s stock valued at $29,000 after acquiring an additional 219 shares during the last quarter. USA Financial Formulas lifted its position in shares of CVS Health by 573.2% during the 4th quarter. USA Financial Formulas now owns 377 shares of the pharmacy operator’s stock valued at $30,000 after acquiring an additional 321 shares during the last quarter. Cornerstone Planning Group LLC lifted its holdings in shares of CVS Health by 111.5% in the third quarter. Cornerstone Planning Group LLC now owns 461 shares of the pharmacy operator’s stock valued at $32,000 after purchasing an additional 243 shares in the last quarter. Ables Iannone Moore & Associates Inc. acquired a new stake in shares of CVS Health in the fourth quarter worth $32,000. Finally, Creekmur Asset Management LLC purchased a new position in shares of CVS Health during the fourth quarter valued at $34,000. 80.66% of the stock is currently owned by institutional investors and hedge funds.

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.