CVS Health (NYSE:CVS) Downgraded to “Neutral” at UBS Group

UBS Group downgraded shares of CVS Health (NYSE:CVS) from a buy rating to a neutral rating in a research report report published on Thursday morning, MarketBeat Ratings reports. UBS Group currently has $60.00 price target on the pharmacy operator’s stock, down from their prior price target of $85.00.

Several other brokerages have also weighed in on CVS. Cantor Fitzgerald lowered CVS Health from an overweight rating to a neutral rating and dropped their target price for the stock from $87.00 to $58.00 in a research report on Wednesday. Piper Sandler upped their target price on shares of CVS Health from $93.00 to $94.00 and gave the stock an overweight rating in a research report on Friday, March 15th. Leerink Partnrs reaffirmed an outperform rating on shares of CVS Health in a report on Monday, February 26th. Wells Fargo & Company decreased their price objective on CVS Health from $83.00 to $76.00 and set an equal weight rating for the company in a report on Monday, April 8th. Finally, Barclays assumed coverage on CVS Health in a research note on Wednesday, March 6th. They set an equal weight rating and a $78.00 target price on the stock. Eight research analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of Moderate Buy and an average target price of $80.35.

CVS Health Stock Up 1.4 %

CVS stock traded up $0.75 during midday trading on Thursday, hitting $55.90. 23,946,075 shares of the company’s stock were exchanged, compared to its average volume of 12,498,538. The stock has a market capitalization of $70.18 billion, a price-to-earnings ratio of 9.82, a price-to-earnings-growth ratio of 0.86 and a beta of 0.56. 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 50 day moving average price of $72.77 and a 200-day moving average price of $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 quarterly earnings data on Wednesday, May 1st. The pharmacy operator reported $1.31 earnings per share (EPS) for the quarter, missing the consensus estimate 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 for the quarter, compared to analyst estimates of $89.33 billion. During the same quarter in the previous year, the company earned $2.20 EPS. The company’s quarterly revenue was up 3.7% compared to the same quarter last year. On average, analysts anticipate that CVS Health will post 7.03 EPS 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 given a dividend of $0.665 per share. This represents a $2.66 dividend on an annualized basis 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 Transactions at CVS Health

In other CVS Health news, EVP Prem S. Shah sold 29,473 shares of the business’s stock in a transaction dated 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 transaction, the executive vice president now owns 39,765 shares in the company, valued at $3,059,916.75. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, Director Edward J. Ludwig purchased 1,000 shares of the firm’s stock in a transaction dated Thursday, May 2nd. The stock was bought at an average price of $53.88 per share, for a total transaction of $53,880.00. Following the purchase, the director now owns 21,630 shares in the company, valued at approximately $1,165,424.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Prem S. Shah sold 29,473 shares of the company’s stock in a transaction dated 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 sale, the executive vice president now owns 39,765 shares of the company’s stock, valued at approximately $3,059,916.75. The disclosure for this sale can be found here. 0.24% of the stock is owned by insiders.

Institutional Trading of CVS Health

Several large investors have recently made changes to their positions in the stock. Mission Wealth Management LP boosted its stake in CVS Health by 4.3% during the 3rd quarter. Mission Wealth Management LP now owns 5,081 shares of the pharmacy operator’s stock valued at $355,000 after purchasing an additional 210 shares during the period. Stratos Wealth Partners LTD. boosted its stake in CVS Health by 6.2% during the 3rd quarter. Stratos Wealth Partners LTD. now owns 65,885 shares of the pharmacy operator’s stock valued at $4,600,000 after purchasing an additional 3,874 shares during the period. Stratos Wealth Advisors LLC raised its holdings in CVS Health by 82.5% in the 3rd quarter. Stratos Wealth Advisors LLC now owns 6,614 shares of the pharmacy operator’s stock valued at $462,000 after acquiring an additional 2,990 shares in the last quarter. NorthRock Partners LLC raised its holdings in CVS Health by 24.0% in the 3rd quarter. NorthRock Partners LLC now owns 8,307 shares of the pharmacy operator’s stock valued at $580,000 after acquiring an additional 1,606 shares in the last quarter. Finally, Bank of New York Mellon Corp raised its holdings in CVS Health by 2.6% in the 3rd quarter. Bank of New York Mellon Corp now owns 10,678,078 shares of the pharmacy operator’s stock valued at $745,543,000 after acquiring an additional 266,650 shares in the last quarter. Institutional investors own 80.66% of the company’s stock.

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.