CVS Health (NYSE:CVS) Price Target Lowered to $72.00 at Mizuho

CVS Health (NYSE:CVS) had its price objective reduced by Mizuho from $86.00 to $72.00 in a research note released on Thursday morning, Benzinga reports. They currently have a buy rating on the pharmacy operator’s stock.

Other analysts have also issued research reports about the stock. StockNews.com lowered shares of CVS Health from a buy rating to a hold rating in a research note on Thursday, February 15th. Barclays initiated coverage on shares of CVS Health in a research note on Wednesday, March 6th. They set an equal weight rating and a $78.00 target price for the company. Royal Bank of Canada lowered their target price on shares of CVS Health from $86.00 to $84.00 and set an outperform rating for the company in a research note on Thursday, February 8th. SVB Leerink reiterated a market perform rating and set a $60.00 target price (down previously from $87.00) on shares of CVS Health in a research note on Wednesday, May 1st. Finally, Wells Fargo & Company reduced their price target on shares of CVS Health from $83.00 to $76.00 and set an equal weight rating for the company in a report on Monday, April 8th. Eight equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of Moderate Buy and a consensus price target of $80.35.

CVS Health Stock Up 1.4 %

Shares of NYSE:CVS opened at $55.90 on Thursday. 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 company has a fifty day simple moving average of $72.77 and a 200 day simple moving average of $73.29. The firm has a market cap of $70.18 billion, a PE ratio of 9.82, a price-to-earnings-growth ratio of 0.88 and a beta of 0.56. CVS Health has a 12-month low of $53.70 and a 12-month high of $83.25.

CVS Health (NYSE:CVS) last issued its quarterly earnings results on Wednesday, May 1st. The pharmacy operator reported $1.31 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.69 by ($0.38). The company had revenue of $88.44 billion during the quarter, compared to the consensus estimate of $89.33 billion. CVS Health had a return on equity of 13.53% and a net margin of 2.03%. The firm’s quarterly revenue was up 3.7% on a year-over-year basis. During the same quarter last year, the firm posted $2.20 EPS. On average, equities research analysts anticipate that CVS Health will post 7.03 EPS for the current fiscal year.

CVS Health Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, May 1st. Shareholders of record on Monday, April 22nd were issued a $0.665 dividend. This represents a $2.66 dividend on an annualized basis and a yield of 4.76%. The ex-dividend date of this dividend was Friday, April 19th. CVS Health’s payout ratio is 46.75%.

Insider Buying and Selling at CVS Health

In other CVS Health news, Director Edward J. Ludwig purchased 1,000 shares of the business’s stock in a transaction on Thursday, May 2nd. The stock was bought at an average cost of $53.88 per share, with a total value of $53,880.00. Following the acquisition, the director now owns 21,630 shares of the company’s stock, valued at $1,165,424.40. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 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 transaction of $2,267,947.35. Following the sale, the executive vice president now owns 39,765 shares in the company, valued at approximately $3,059,916.75. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director Edward J. Ludwig acquired 1,000 shares of the business’s stock in a transaction on Thursday, May 2nd. The shares were bought at an average price 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 approximately $1,165,424.40. The disclosure for this purchase can be found here. 0.24% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On CVS Health

Large investors have recently made changes to their positions in the business. Atticus Wealth Management LLC increased its holdings in shares of CVS Health by 149.0% in 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 increased its holdings 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 valued at $30,000 after purchasing an additional 321 shares during the period. Ables Iannone Moore & Associates Inc. acquired a new position in shares of CVS Health in the 4th quarter valued at about $32,000. Creekmur Asset Management LLC acquired a new position in shares of CVS Health in the 4th quarter valued at about $34,000. Finally, Steph & Co. increased its holdings in CVS Health by 192.0% in the first quarter. Steph & Co. now owns 438 shares of the pharmacy operator’s stock worth $35,000 after buying an additional 288 shares during the last quarter. Institutional investors and hedge funds 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.