CVS Health (NYSE:CVS) Price Target Lowered to $60.00 at Wells Fargo & Company

CVS Health (NYSE:CVS) had its price objective lowered by Wells Fargo & Company from $76.00 to $60.00 in a research report report published on Tuesday morning, Benzinga reports. Wells Fargo & Company currently has an equal weight rating on the pharmacy operator’s stock.

Several other brokerages also recently weighed in on CVS. StockNews.com downgraded CVS Health from a buy rating to a hold rating in a research note on Thursday, February 15th. Piper Sandler upped their price objective on shares of CVS Health from $93.00 to $94.00 and gave the company an overweight rating in a report on Friday, March 15th. Bank of America lowered their target price on shares of CVS Health from $95.00 to $77.00 and set a buy rating for the company in a research note on Thursday, May 2nd. TD Cowen lowered shares of CVS Health from a buy rating to a hold rating and cut their price target for the company from $99.00 to $59.00 in a research note on Tuesday. Finally, Mizuho lowered their price objective on shares of CVS Health from $86.00 to $72.00 and set a buy rating for the company in a research note on Thursday, May 2nd. Nine investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. Based on data from MarketBeat, CVS Health presently has an average rating of Moderate Buy and a consensus price target of $77.55.

CVS Health Trading Down 0.4 %

Shares of NYSE CVS opened at $55.74 on Tuesday. The business has a fifty day moving average price of $71.95 and a 200 day moving average price of $73.09. CVS Health has a 1-year low of $53.70 and a 1-year high of $83.25. The company has a debt-to-equity ratio of 0.78, a current ratio of 0.81 and a quick ratio of 0.61. The stock has a market capitalization of $69.97 billion, a P/E ratio of 9.80, a price-to-earnings-growth ratio of 0.88 and a beta of 0.56.

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

CVS Health Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, May 1st. Stockholders of record on Monday, April 22nd were issued a dividend of $0.665 per share. This represents a $2.66 annualized dividend and a dividend yield of 4.77%. The ex-dividend date of this dividend was Friday, April 19th. CVS Health’s dividend payout ratio (DPR) is 46.75%.

Insider Activity at CVS Health

In other CVS Health news, EVP Prem S. Shah sold 29,473 shares of CVS Health stock in a transaction on Friday, February 16th. The shares were sold at an average price of $76.95, for a total value of $2,267,947.35. Following the completion of the transaction, the executive vice president now owns 39,765 shares of the company’s stock, valued at $3,059,916.75. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other CVS Health news, Director Edward J. Ludwig bought 1,000 shares of the firm’s stock in a transaction dated Thursday, May 2nd. The shares were purchased at an average price of $53.88 per share, for a total transaction of $53,880.00. Following the transaction, the director now directly owns 21,630 shares of the company’s stock, valued at approximately $1,165,424.40. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Prem S. Shah sold 29,473 shares of the business’s stock in a transaction on 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 completion of the sale, the executive vice president now directly 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. Company insiders own 0.24% of the company’s stock.

Institutional Trading of CVS Health

Several institutional investors have recently modified their holdings of the stock. Atticus Wealth Management LLC raised its holdings in shares of CVS Health by 149.0% during the fourth quarter. Atticus Wealth Management LLC now owns 366 shares of the pharmacy operator’s stock valued at $29,000 after acquiring an additional 219 shares during the last quarter. USA Financial Formulas raised its stake in 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 last quarter. Ables Iannone Moore & Associates Inc. purchased a new position in CVS Health in the 4th quarter valued at $32,000. Creekmur Asset Management LLC acquired a new stake in CVS Health during the 4th quarter worth $34,000. Finally, Steph & Co. raised its position in shares of CVS Health by 192.0% in the first quarter. Steph & Co. now owns 438 shares of the pharmacy operator’s stock valued at $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.

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.