CVS Health Co. (NYSE:CVS) Director Acquires $53,880.00 in Stock

CVS Health Co. (NYSE:CVS) Director Edward J. Ludwig purchased 1,000 shares of the business’s stock in a transaction on Thursday, May 2nd. The stock was purchased at an average cost of $53.88 per share, for a total transaction of $53,880.00. Following the acquisition, the director now owns 21,630 shares in the company, valued at $1,165,424.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.

CVS Health Stock Down 2.1 %

CVS stock traded down $1.16 during trading on Thursday, hitting $55.15. 37,808,624 shares of the stock traded hands, compared to its average volume of 11,608,837. The company has a debt-to-equity ratio of 0.77, a current ratio of 0.86 and a quick ratio of 0.63. The stock has a market cap of $69.52 billion, a price-to-earnings ratio of 8.54, a price-to-earnings-growth ratio of 0.90 and a beta of 0.56. CVS Health Co. has a 1 year low of $53.70 and a 1 year high of $83.25. The firm’s 50 day moving average is $73.63 and its two-hundred day moving average is $73.50.

CVS Health (NYSE:CVS) last announced its quarterly earnings results on Wednesday, May 1st. The pharmacy operator reported $1.31 earnings per share for the quarter, missing the consensus estimate of $1.69 by ($0.38). CVS Health had a net margin of 2.33% and a return on equity of 15.25%. The firm had revenue of $88.44 billion for the quarter, compared to the consensus estimate of $89.33 billion. During the same period last year, the business earned $2.20 EPS. CVS Health’s revenue was up 3.7% on a year-over-year basis. On average, sell-side analysts anticipate that CVS Health Co. will post 8.31 EPS for the current year.

CVS Health Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, May 1st. Shareholders of record on Monday, April 22nd were given a $0.665 dividend. This represents a $2.66 dividend on an annualized basis and a yield of 4.82%. The ex-dividend date was Friday, April 19th. CVS Health’s dividend payout ratio (DPR) is 41.18%.

Analysts Set New Price Targets

CVS has been the topic of a number of research analyst reports. Mizuho reduced their price target on CVS Health from $86.00 to $72.00 and set a “buy” rating on the stock in a report on Thursday. The Goldman Sachs Group reduced their target price on CVS Health from $85.00 to $74.00 and set a “buy” rating on the stock in a research note on Thursday. StockNews.com downgraded shares of CVS Health from a “buy” rating to a “hold” rating in a research report on Thursday, February 15th. SVB Leerink reaffirmed a “market perform” rating and issued a $60.00 target price (down from $87.00) on shares of CVS Health in a research report on Wednesday. Finally, Barclays decreased their price target on shares of CVS Health from $78.00 to $63.00 and set an “equal weight” rating for the company in a research note on Thursday. Seven analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $80.35.

Institutional Trading of CVS Health

A number of institutional investors have recently made changes to their positions in the stock. Atticus Wealth Management LLC grew its stake 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 purchasing an additional 219 shares during the period. USA Financial Formulas lifted its stake in shares of CVS Health by 573.2% in the 4th quarter. USA Financial Formulas now owns 377 shares of the pharmacy operator’s stock worth $30,000 after purchasing an additional 321 shares during the period. Cornerstone Planning Group LLC grew its position in CVS Health by 111.5% during the third quarter. Cornerstone Planning Group LLC now owns 461 shares of the pharmacy operator’s stock valued at $32,000 after buying an additional 243 shares during the period. Ables Iannone Moore & Associates Inc. purchased a new stake in CVS Health during the fourth quarter valued at approximately $32,000. Finally, Creekmur Asset Management LLC bought a new position in CVS Health in the fourth quarter worth approximately $34,000. Hedge funds and other 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.