StockNews.com Downgrades CVS Health (NYSE:CVS) to Sell

StockNews.com lowered shares of CVS Health (NYSE:CVS) from a hold rating to a sell rating in a research report report published on Thursday morning.

CVS has been the topic of a number of other reports. UBS Group raised their price target on shares of CVS Health from $60.00 to $62.00 and gave the company a “neutral” rating in a report on Thursday, November 7th. TD Cowen upgraded shares of CVS Health from a “hold” rating to a “buy” rating and raised their price target for the company from $59.00 to $85.00 in a report on Friday, October 4th. Mizuho lowered their price target on shares of CVS Health from $73.00 to $66.00 and set an “outperform” rating on the stock in a report on Thursday, October 24th. Truist Financial raised their price target on shares of CVS Health from $66.00 to $76.00 and gave the company a “buy” rating in a report on Friday, October 11th. Finally, Evercore ISI raised their price target on shares of CVS Health from $62.00 to $75.00 and gave the company an “outperform” rating in a report on Tuesday, October 8th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and twelve have given a buy rating to the stock. According to data from MarketBeat.com, CVS Health presently has a consensus rating of “Moderate Buy” and a consensus target price of $72.44.

CVS Health Trading Down 3.4 %

NYSE CVS opened at $53.19 on Thursday. 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 has a 12 month low of $52.71 and a 12 month high of $83.25. The company’s 50-day moving average price is $59.23 and its 200-day moving average price is $58.60. The stock has a market cap of $66.93 billion, a PE ratio of 13.50, a PEG ratio of 0.92 and a beta of 0.55.

CVS Health (NYSE:CVS) last issued its earnings results on Wednesday, November 6th. The pharmacy operator reported $1.09 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.08 by $0.01. CVS Health had a net margin of 1.36% and a return on equity of 10.72%. The company had revenue of $95.43 billion for the quarter, compared to analysts’ expectations of $92.72 billion. During the same period in the prior year, the business earned $2.21 EPS. The firm’s quarterly revenue was up 6.3% on a year-over-year basis. Equities research analysts forecast that CVS Health will post 5.48 earnings per share for the current year.

CVS Health Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, November 1st. Shareholders of record on Monday, October 21st were given a dividend of $0.665 per share. This represents a $2.66 dividend on an annualized basis and a yield of 5.00%. The ex-dividend date was Monday, October 21st. CVS Health’s dividend payout ratio is presently 67.51%.

Hedge Funds Weigh In On CVS Health

Institutional investors have recently bought and sold shares of the business. MidAtlantic Capital Management Inc. purchased a new position in CVS Health during the 3rd quarter worth approximately $25,000. Livelsberger Financial Advisory purchased a new position in CVS Health during the 3rd quarter worth approximately $31,000. Crewe Advisors LLC purchased a new position in shares of CVS Health during the 1st quarter valued at approximately $40,000. Legacy Investment Solutions LLC purchased a new position in shares of CVS Health during the 3rd quarter valued at approximately $31,000. Finally, Reston Wealth Management LLC purchased a new position in shares of CVS Health during the 3rd quarter valued at approximately $32,000. 80.66% of the stock is owned by hedge funds and other 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.