CVS Health (NYSE:CVS) Shares Down 5.5% – Time to Sell?

Shares of CVS Health Co. (NYSE:CVS) dropped 5.5% on Monday . The stock traded as low as $46.64 and last traded at $46.67. Approximately 13,838,306 shares were traded during trading, an increase of 22% from the average daily volume of 11,388,480 shares. The stock had previously closed at $49.37.

Analyst Upgrades and Downgrades

Several brokerages have commented on CVS. TD Cowen boosted their price target on shares of CVS Health from $73.00 to $80.00 and gave the stock a “buy” rating in a research report on Monday, November 25th. Barclays cut their target price on shares of CVS Health from $75.00 to $71.00 and set an “overweight” rating for the company in a research note on Thursday, November 7th. Mizuho decreased their price target on shares of CVS Health from $73.00 to $66.00 and set an “outperform” rating on the stock in a research report on Thursday, October 24th. Piper Sandler cut their price objective on CVS Health from $72.00 to $64.00 and set an “overweight” rating for the company in a research report on Monday, November 25th. Finally, StockNews.com downgraded CVS Health from a “hold” rating to a “sell” rating in a report on Thursday, November 14th. One research analyst has rated the stock with a sell rating, six have given a hold rating and fourteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $70.50.

CVS Health Stock Performance

The company has a current ratio of 0.80, a quick ratio of 0.59 and a debt-to-equity ratio of 0.80. The firm’s fifty day moving average price is $58.34 and its 200 day moving average price is $58.68. The firm has a market capitalization of $58.62 billion, a PE ratio of 12.53, a PEG ratio of 0.89 and a beta of 0.54.

CVS Health (NYSE:CVS) last issued its earnings results on Wednesday, November 6th. The pharmacy operator reported $1.09 earnings per share for the quarter, topping the consensus estimate of $1.08 by $0.01. The company had revenue of $95.43 billion for the quarter, compared to analyst estimates of $92.72 billion. CVS Health had a return on equity of 10.72% and a net margin of 1.36%. The business’s revenue was up 6.3% compared to the same quarter last year. During the same period in the prior year, the firm posted $2.21 EPS. On average, research analysts anticipate that CVS Health Co. will post 5.32 earnings per share for the current year.

CVS Health Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, November 1st. Stockholders of record on Monday, October 21st were issued a dividend of $0.665 per share. The ex-dividend date of this dividend was Monday, October 21st. This represents a $2.66 dividend on an annualized basis and a dividend yield of 5.71%. CVS Health’s dividend payout ratio is currently 67.51%.

Institutional Investors Weigh In On CVS Health

Large investors have recently bought and sold shares of the business. Garland Capital Management Inc. lifted its position in shares of CVS Health by 0.3% in the second quarter. Garland Capital Management Inc. now owns 60,810 shares of the pharmacy operator’s stock worth $3,591,000 after buying an additional 160 shares during the last quarter. Sound Income Strategies LLC boosted its position in CVS Health by 7.2% during the third quarter. Sound Income Strategies LLC now owns 2,397 shares of the pharmacy operator’s stock worth $151,000 after purchasing an additional 162 shares during the period. Plimoth Trust Co. LLC grew its holdings in CVS Health by 0.4% during the second quarter. Plimoth Trust Co. LLC now owns 46,637 shares of the pharmacy operator’s stock valued at $2,754,000 after purchasing an additional 174 shares during the last quarter. Hexagon Capital Partners LLC lifted its stake in shares of CVS Health by 3.5% in the third quarter. Hexagon Capital Partners LLC now owns 5,268 shares of the pharmacy operator’s stock worth $331,000 after buying an additional 178 shares during the last quarter. Finally, Pallas Capital Advisors LLC grew its stake in CVS Health by 2.5% in the 2nd quarter. Pallas Capital Advisors LLC now owns 7,458 shares of the pharmacy operator’s stock valued at $447,000 after buying an additional 183 shares during the last quarter. 80.66% of the stock is currently owned by institutional investors.

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.