CVS Health (NYSE:CVS) Trading Down 3.6%

CVS Health Co. (NYSE:CVS)’s share price fell 3.6% during trading on Monday . The stock traded as low as $55.64 and last traded at $55.65. 1,252,019 shares were traded during mid-day trading, a decline of 89% from the average session volume of 11,091,984 shares. The stock had previously closed at $57.75.

Analysts Set New Price Targets

CVS has been the subject of a number of research analyst reports. Evercore ISI lowered their price target on CVS Health from $65.00 to $62.00 and set an “outperform” rating for the company in a report on Thursday, August 8th. Cantor Fitzgerald reiterated a “neutral” rating and set a $62.00 price target on shares of CVS Health in a research report on Tuesday. Baird R W upgraded shares of CVS Health to a “hold” rating in a report on Thursday, May 30th. JPMorgan Chase & Co. lowered their price objective on shares of CVS Health from $101.00 to $86.00 and set an “overweight” rating for the company in a research report on Thursday, May 30th. Finally, Barclays cut their target price on CVS Health from $65.00 to $63.00 and set an “equal weight” rating on the stock in a research report on Thursday, August 8th. Eleven analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to MarketBeat.com, CVS Health presently has an average rating of “Moderate Buy” and a consensus target price of $72.48.

CVS Health Trading Up 0.8 %

The company’s fifty day moving average is $58.25 and its two-hundred day moving average is $63.39. The company has a quick ratio of 0.66, a current ratio of 0.86 and a debt-to-equity ratio of 0.83. The stock has a market cap of $71.48 billion, a price-to-earnings ratio of 10.01, a PEG ratio of 0.81 and a beta of 0.54.

CVS Health (NYSE:CVS) last announced its quarterly earnings data on Wednesday, August 7th. The pharmacy operator reported $1.83 earnings per share for the quarter, beating analysts’ consensus estimates of $1.73 by $0.10. The business had revenue of $91.23 billion for the quarter, compared to analyst estimates of $91.41 billion. CVS Health had a net margin of 1.98% and a return on equity of 12.72%. The company’s revenue was up 2.6% on a year-over-year basis. During the same period last year, the business earned $2.21 EPS. On average, research analysts predict that CVS Health Co. will post 6.51 EPS for the current fiscal year.

CVS Health Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, August 1st. Stockholders of record on Monday, July 22nd were issued a $0.665 dividend. The ex-dividend date of this dividend was Monday, July 22nd. This represents a $2.66 dividend on an annualized basis and a dividend yield of 4.67%. CVS Health’s payout ratio is currently 46.75%.

Hedge Funds Weigh In On CVS Health

Several hedge funds have recently added to or reduced their stakes in CVS. Norges Bank acquired a new position in shares of CVS Health in the 4th quarter valued at $1,092,040,000. Capital International Investors increased its position in shares of CVS Health by 47.4% during the fourth quarter. Capital International Investors now owns 33,691,698 shares of the pharmacy operator’s stock worth $2,660,298,000 after purchasing an additional 10,837,801 shares in the last quarter. Pzena Investment Management LLC lifted its holdings in shares of CVS Health by 132.9% in the 2nd quarter. Pzena Investment Management LLC now owns 12,936,388 shares of the pharmacy operator’s stock valued at $764,023,000 after purchasing an additional 7,382,931 shares during the last quarter. Capital World Investors boosted its position in shares of CVS Health by 8.0% in the 1st quarter. Capital World Investors now owns 43,776,874 shares of the pharmacy operator’s stock valued at $3,491,643,000 after purchasing an additional 3,232,172 shares during the period. Finally, Clearbridge Investments LLC grew its stake in CVS Health by 306.6% during the 4th quarter. Clearbridge Investments LLC now owns 3,046,216 shares of the pharmacy operator’s stock worth $240,529,000 after buying an additional 2,297,100 shares during the last quarter. 80.66% of the stock is currently owned by hedge funds and other institutional investors.

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.