Cantor Fitzgerald Reiterates “Neutral” Rating for CVS Health (NYSE:CVS)

Cantor Fitzgerald restated their neutral rating on shares of CVS Health (NYSE:CVS) in a research note published on Wednesday morning, Benzinga reports. They currently have a $58.00 price objective on the pharmacy operator’s stock.

Several other research analysts have also commented on CVS. StockNews.com lowered CVS Health from a buy rating to a hold rating in a research report on Thursday, February 15th. Barclays reduced their price objective on CVS Health from $78.00 to $63.00 and set an equal weight rating for the company in a research note on Thursday, May 2nd. 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, May 2nd. Piper Sandler raised their target price on CVS Health from $93.00 to $94.00 and gave the stock an overweight rating in a report on Friday, March 15th. Finally, TD Cowen lowered CVS Health from a buy rating to a hold rating and dropped their target price for the stock from $99.00 to $59.00 in a report on Tuesday, May 7th. Eleven investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of Moderate Buy and a consensus target price of $75.05.

CVS Health Stock Performance

NYSE:CVS opened at $60.22 on Wednesday. The company has a debt-to-equity ratio of 0.78, a current ratio of 0.81 and a quick ratio of 0.61. CVS Health has a 1 year low of $52.77 and a 1 year high of $83.25. The stock’s 50 day simple moving average is $61.51 and its two-hundred day simple moving average is $70.90. The company has a market cap of $75.60 billion, a price-to-earnings ratio of 10.58, a PEG ratio of 0.57 and a beta of 0.53.

CVS Health (NYSE:CVS) last announced its earnings results on Wednesday, May 1st. The pharmacy operator reported $1.31 EPS for the quarter, missing analysts’ consensus estimates of $1.69 by ($0.38). CVS Health had a return on equity of 13.53% and a net margin of 2.03%. The company had revenue of $88.44 billion during the quarter, compared to analysts’ expectations of $89.33 billion. During the same quarter last year, the firm posted $2.20 EPS. CVS Health’s revenue for the quarter was up 3.7% compared to the same quarter last year. As a group, equities analysts anticipate that CVS Health will post 7.02 earnings per share for the current fiscal year.

CVS Health Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, May 1st. Investors of record on Monday, April 22nd were given a $0.665 dividend. This represents a $2.66 annualized dividend and a dividend yield of 4.42%. The ex-dividend date was Friday, April 19th. CVS Health’s dividend payout ratio (DPR) is currently 46.75%.

Insider Buying and Selling

In other news, Director Edward J. Ludwig bought 1,000 shares of the business’s stock in a transaction that occurred on Thursday, May 2nd. The shares were acquired at an average cost of $53.88 per share, with a total value of $53,880.00. Following the transaction, the director now owns 21,630 shares of the company’s stock, valued at approximately $1,165,424.40. The acquisition was disclosed in a filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.24% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in CVS. Ellevest Inc. raised its position in CVS Health by 9.4% in the third quarter. Ellevest Inc. now owns 5,627 shares of the pharmacy operator’s stock valued at $393,000 after purchasing an additional 484 shares during the period. Navellier & Associates Inc. purchased a new position in CVS Health in the third quarter valued at about $257,000. Tocqueville Asset Management L.P. grew its stake in shares of CVS Health by 10.6% during the third quarter. Tocqueville Asset Management L.P. now owns 13,460 shares of the pharmacy operator’s stock valued at $940,000 after acquiring an additional 1,290 shares in the last quarter. Cornerstone Advisors LLC grew its stake in shares of CVS Health by 119.5% during the third quarter. Cornerstone Advisors LLC now owns 33,800 shares of the pharmacy operator’s stock valued at $2,360,000 after acquiring an additional 18,400 shares in the last quarter. Finally, Formidable Asset Management LLC grew its stake in shares of CVS Health by 11.3% during the third quarter. Formidable Asset Management LLC now owns 9,448 shares of the pharmacy operator’s stock valued at $660,000 after acquiring an additional 956 shares in the last quarter. 80.66% of the stock is owned by hedge funds and other 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.