CVS Health (NYSE:CVS) Shares Down 0.8% – Here’s Why

CVS Health Co. (NYSE:CVS) traded down 0.8% during trading on Monday . The company traded as low as $53.43 and last traded at $53.57. 2,017,625 shares changed hands during trading, a decline of 83% from the average session volume of 12,094,318 shares. The stock had previously closed at $54.01.

Analyst Ratings Changes

CVS has been the subject of a number of recent research reports. Leerink Partners boosted their price objective on shares of CVS Health from $51.00 to $55.00 and gave the stock a “market perform” rating in a report on Tuesday. Wells Fargo & Company raised shares of CVS Health from an “equal weight” rating to an “overweight” rating and boosted their price target for the stock from $60.00 to $66.00 in a research note on Monday, November 18th. Edward Jones raised CVS Health from a “hold” rating to a “buy” rating in a research note on Thursday, January 30th. Deutsche Bank Aktiengesellschaft upgraded CVS Health from a “hold” rating to a “buy” rating and set a $66.00 target price for the company in a report on Tuesday, December 3rd. Finally, Cantor Fitzgerald upgraded CVS Health from a “neutral” rating to an “overweight” rating in a research report on Wednesday. One analyst has rated the stock with a sell rating, five have given a hold rating and sixteen have issued a buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $67.78.

CVS Health Trading Up 15.0 %

The company has a market cap of $79.57 billion, a PE ratio of 16.05, a PEG ratio of 0.60 and a beta of 0.61. The stock has a 50 day moving average price of $50.61 and a 200 day moving average price of $55.92. The company has a current ratio of 0.80, a quick ratio of 0.59 and a debt-to-equity ratio of 0.80.

CVS Health (NYSE:CVS) last announced its earnings results on Wednesday, February 12th. The pharmacy operator reported $1.19 EPS for the quarter, beating analysts’ consensus estimates of $0.89 by $0.30. CVS Health had a net margin of 1.36% and a return on equity of 10.72%. Sell-side analysts predict that CVS Health Co. will post 5.14 EPS for the current fiscal year.

CVS Health Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, February 3rd. Stockholders of record on Thursday, January 23rd were issued a dividend of $0.665 per share. The ex-dividend date was Thursday, January 23rd. This represents a $2.66 annualized dividend and a dividend yield of 4.21%. CVS Health’s payout ratio is 67.51%.

Hedge Funds Weigh In On CVS Health

Institutional investors and hedge funds have recently modified their holdings of the stock. OneAscent Financial Services LLC boosted its stake in CVS Health by 22.7% in the 4th quarter. OneAscent Financial Services LLC now owns 6,027 shares of the pharmacy operator’s stock worth $271,000 after purchasing an additional 1,117 shares in the last quarter. Headlands Technologies LLC bought a new position in shares of CVS Health in the fourth quarter worth approximately $1,864,000. Geode Capital Management LLC grew its holdings in shares of CVS Health by 2.6% during the fourth quarter. Geode Capital Management LLC now owns 27,051,540 shares of the pharmacy operator’s stock valued at $1,211,582,000 after buying an additional 689,867 shares during the last quarter. National Bank of Canada FI raised its holdings in CVS Health by 37.3% in the 4th quarter. National Bank of Canada FI now owns 2,682,572 shares of the pharmacy operator’s stock worth $118,892,000 after acquiring an additional 729,192 shares during the last quarter. Finally, Colrain Capital LLC bought a new position in CVS Health in the 4th quarter valued at approximately $3,876,000. 80.66% of the stock is currently owned by institutional investors.

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.