CVS Health (NYSE:CVS) Stock Price Down 1.7% – What’s Next?

CVS Health Co. (NYSE:CVS) shares traded down 1.7% on Thursday . The company traded as low as $50.63 and last traded at $51.25. 3,420,566 shares changed hands during trading, a decline of 75% from the average session volume of 13,702,923 shares. The stock had previously closed at $52.14.

Analysts Set New Price Targets

A number of research analysts recently weighed in on the stock. Deutsche Bank Aktiengesellschaft upgraded shares of CVS Health from a “hold” rating to a “buy” rating and set a $66.00 target price on the stock in a research note on Tuesday, December 3rd. UBS Group lifted their target price on shares of CVS Health from $60.00 to $62.00 and gave the company a “neutral” rating in a research note on Thursday, November 7th. Cantor Fitzgerald reiterated a “neutral” rating and issued a $62.00 price target on shares of CVS Health in a research note on Tuesday, October 1st. Truist Financial decreased their price target on shares of CVS Health from $67.00 to $60.00 and set a “buy” rating on the stock in a research note on Monday, January 6th. Finally, Evercore ISI boosted their price target on shares of CVS Health from $62.00 to $75.00 and gave the stock an “outperform” rating in a research note on Tuesday, October 8th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and thirteen have assigned a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $68.71.

CVS Health Price Performance

The company has a market capitalization of $66.35 billion, a P/E ratio of 13.38, a P/E/G ratio of 0.72 and a beta of 0.59. The firm’s fifty day moving average is $51.39 and its 200 day moving average is $56.36. The company has a debt-to-equity ratio of 0.80, a quick ratio of 0.59 and a current ratio of 0.80.

CVS Health (NYSE:CVS) last issued its quarterly earnings results on Wednesday, November 6th. The pharmacy operator reported $1.09 EPS for the quarter, beating the consensus estimate of $1.08 by $0.01. The company had revenue of $95.43 billion for the quarter, compared to the consensus estimate of $92.72 billion. CVS Health had a net margin of 1.36% and a return on equity of 10.72%. The firm’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. As a group, analysts predict that CVS Health Co. will post 5.22 earnings per share for the current fiscal year.

CVS Health Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, February 3rd. Shareholders 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 annualized dividend and a yield of 5.05%. CVS Health’s dividend payout ratio (DPR) is 67.51%.

Institutional Investors Weigh In On CVS Health

Large investors have recently added to or reduced their stakes in the stock. MidAtlantic Capital Management Inc. purchased a new stake in CVS Health in the 3rd quarter valued at about $25,000. Livelsberger Financial Advisory purchased a new stake in shares of CVS Health in the 3rd quarter worth approximately $31,000. Legacy Investment Solutions LLC purchased a new stake in shares of CVS Health in the 3rd quarter worth approximately $31,000. Reston Wealth Management LLC purchased a new stake in shares of CVS Health in the 3rd quarter worth approximately $32,000. Finally, Kathleen S. Wright Associates Inc. purchased a new stake in shares of CVS Health in the 3rd quarter worth approximately $33,000. 80.66% of the stock is owned by hedge funds and other 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.