CVS Health (NYSE:CVS) Shares Gap Down – Time to Sell?

Shares of CVS Health Co. (NYSE:CVS) gapped down before the market opened on Thursday . The stock had previously closed at $45.28, but opened at $44.29. CVS Health shares last traded at $44.53, with a volume of 1,682,907 shares changing hands.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on CVS shares. 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. UBS Group lifted their price objective on shares of CVS Health from $60.00 to $62.00 and gave the stock a “neutral” rating in a research note on Thursday, November 7th. Evercore ISI upped their target price on CVS Health from $62.00 to $75.00 and gave the company an “outperform” rating in a research report on Tuesday, October 8th. Truist Financial reaffirmed a “buy” rating and set a $67.00 price target (down previously from $76.00) on shares of CVS Health in a research report on Wednesday, November 20th. Finally, StockNews.com lowered CVS Health from a “hold” rating to a “sell” rating in a report on Thursday, November 14th. One 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. According to data from MarketBeat, CVS Health currently has an average rating of “Moderate Buy” and an average target price of $70.50.

CVS Health Trading Up 1.3 %

The company has a 50 day moving average price of $56.24 and a two-hundred day moving average price of $58.24. The firm has a market capitalization of $55.82 billion, a price-to-earnings ratio of 11.26, a P/E/G ratio of 0.89 and a beta of 0.54. The company has a debt-to-equity ratio of 0.80, a quick ratio of 0.59 and a current ratio of 0.80.

CVS Health (NYSE:CVS) last posted its quarterly earnings data on Wednesday, November 6th. The pharmacy operator reported $1.09 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.08 by $0.01. The business had revenue of $95.43 billion for the quarter, compared to the consensus estimate of $92.72 billion. CVS Health had a net margin of 1.36% and a return on equity of 10.72%. The company’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, research analysts forecast that CVS Health Co. will post 5.32 EPS for the current year.

Hedge Funds Weigh In On CVS Health

Hedge funds have recently made changes to their positions in the company. State Street Corp raised its stake in 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. Geode Capital Management LLC raised its position in shares of CVS Health by 1.8% in the third quarter. Geode Capital Management LLC now owns 26,361,673 shares of the pharmacy operator’s stock valued at $1,651,997,000 after buying an additional 461,569 shares during the last quarter. Pzena Investment Management LLC lifted its stake in shares of CVS Health by 1.5% in the third quarter. Pzena Investment Management LLC now owns 13,135,308 shares of the pharmacy operator’s stock worth $825,948,000 after buying an additional 198,920 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its position in CVS Health by 2.6% during the third quarter. Charles Schwab Investment Management Inc. now owns 12,208,668 shares of the pharmacy operator’s stock worth $767,681,000 after acquiring an additional 304,386 shares during the last quarter. Finally, Hotchkis & Wiley Capital Management LLC grew its stake in CVS Health by 34.8% during the 3rd quarter. Hotchkis & Wiley Capital Management LLC now owns 11,897,034 shares of the pharmacy operator’s stock valued at $748,085,000 after acquiring an additional 3,071,613 shares in the last quarter. Institutional investors and hedge funds 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.