CVS Health (NYSE:CVS) Shares Gap Down – Should You Sell?

CVS Health Co. (NYSE:CVS) shares gapped down prior to trading on Thursday . The stock had previously closed at $45.28, but opened at $44.29. CVS Health shares last traded at $44.53, with a volume of 1,682,907 shares.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on CVS shares. Deutsche Bank Aktiengesellschaft upgraded CVS Health from a “hold” rating to a “buy” rating and set a $66.00 price target on the stock in a research report on Tuesday, December 3rd. Piper Sandler dropped their price target on shares of CVS Health from $72.00 to $64.00 and set an “overweight” rating on the stock in a research report on Monday, November 25th. TD Cowen raised their price objective on shares of CVS Health from $73.00 to $80.00 and gave the company a “buy” rating in a research report on Monday, November 25th. Evercore ISI boosted their target price on shares of CVS Health from $62.00 to $75.00 and gave the stock an “outperform” rating in a report on Tuesday, October 8th. Finally, StockNews.com lowered shares of CVS Health from a “hold” rating to a “sell” rating in a research report on Thursday, November 14th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and fourteen have assigned a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $70.50.

CVS Health Stock Performance

The stock has a market capitalization of $55.55 billion, a PE ratio of 11.20, a P/E/G ratio of 0.89 and a beta of 0.54. The company has a debt-to-equity ratio of 0.80, a quick ratio of 0.59 and a current ratio of 0.80. The firm has a 50 day moving average of $57.14 and a 200-day moving average of $58.44.

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

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the company. MidAtlantic Capital Management Inc. acquired a new stake in shares of CVS Health during the 3rd quarter valued at about $25,000. Livelsberger Financial Advisory bought a new position in CVS Health during the third quarter valued at approximately $31,000. Legacy Investment Solutions LLC acquired a new stake in CVS Health in the third quarter valued at approximately $31,000. Reston Wealth Management LLC bought a new stake in CVS Health in the third quarter worth approximately $32,000. Finally, Kathleen S. Wright Associates Inc. acquired a new position in shares of CVS Health during the 3rd quarter worth $33,000. 80.66% of the stock is owned by institutional investors and hedge funds.

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.