CVS Health (NYSE:CVS) Stock Price Down 1.2% – Time to Sell?

CVS Health Co. (NYSE:CVS) shares fell 1.2% during mid-day trading on Thursday . The stock traded as low as $55.32 and last traded at $56.23. 3,744,610 shares changed hands during mid-day trading, a decline of 71% from the average session volume of 13,112,369 shares. The stock had previously closed at $56.90.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on CVS shares. StockNews.com lowered shares of CVS Health from a “hold” rating to a “sell” rating in a research note on Thursday, November 14th. Wells Fargo & Company raised shares of CVS Health from an “equal weight” rating to an “overweight” rating and increased their price objective for the stock from $60.00 to $66.00 in a research report on Monday, November 18th. TD Cowen upped their price target on CVS Health from $73.00 to $80.00 and gave the stock a “buy” rating in a research note on Monday, November 25th. Deutsche Bank Aktiengesellschaft raised CVS Health from a “hold” rating to a “buy” rating and set a $66.00 price objective for the company in a research note on Tuesday, December 3rd. Finally, Edward Jones raised CVS Health from a “hold” rating to a “buy” rating in a research note on Thursday. One research analyst has rated the stock with a sell rating, six have given a hold rating and fourteen have issued a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $68.12.

CVS Health Trading Down 0.5 %

The stock has a market cap of $71.13 billion, a price-to-earnings ratio of 14.35, a P/E/G ratio of 0.62 and a beta of 0.59. The business’s 50 day moving average is $51.24 and its 200 day moving average is $56.17. The company has a debt-to-equity ratio of 0.80, a current ratio of 0.80 and a quick ratio of 0.59.

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 business 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 quarterly revenue was up 6.3% on a year-over-year basis. During the same quarter last year, the company earned $2.21 EPS. As a group, equities analysts expect that CVS Health Co. will post 5.18 earnings per share for the current fiscal year.

CVS Health Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, February 3rd. Investors of record on Thursday, January 23rd will be given a $0.665 dividend. The ex-dividend date of this dividend is Thursday, January 23rd. This represents a $2.66 dividend on an annualized basis and a yield of 4.71%. CVS Health’s dividend payout ratio (DPR) is presently 67.51%.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in CVS. Sound Income Strategies LLC grew its position in shares of 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 acquiring an additional 162 shares during the last quarter. Hexagon Capital Partners LLC raised its holdings 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 valued at $331,000 after buying an additional 178 shares during the last quarter. Bruce G. Allen Investments LLC increased its position in CVS Health by 13.1% in the 3rd quarter. Bruce G. Allen Investments LLC now owns 1,681 shares of the pharmacy operator’s stock valued at $106,000 after acquiring an additional 195 shares during the period. Integrated Advisors Network LLC lifted its position in CVS Health by 0.7% during the 3rd quarter. Integrated Advisors Network LLC now owns 27,625 shares of the pharmacy operator’s stock worth $1,737,000 after acquiring an additional 200 shares during the period. Finally, Widmann Financial Services Inc. grew its stake in shares of CVS Health by 1.8% in the 3rd quarter. Widmann Financial Services Inc. now owns 11,506 shares of the pharmacy operator’s stock valued at $724,000 after purchasing an additional 200 shares during the last quarter. Hedge funds and other 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.