CVS Health (NYSE:CVS) Sets New 12-Month Low on Analyst Downgrade

CVS Health Co. (NYSE:CVS) reached a new 52-week low during mid-day trading on Friday after Royal Bank of Canada lowered their price target on the stock from $68.00 to $58.00. Royal Bank of Canada currently has an outperform rating on the stock. CVS Health traded as low as $52.71 and last traded at $53.05, with a volume of 4140766 shares traded. The stock had previously closed at $55.09.

CVS has been the subject of several other research reports. Truist Financial upped their price target on CVS Health from $66.00 to $76.00 and gave the company a “buy” rating in a report on Friday, October 11th. Deutsche Bank Aktiengesellschaft cut their target price on CVS Health from $64.00 to $63.00 and set a “hold” rating for the company in a research note on Friday, August 9th. Evercore ISI lifted 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. Barclays cut their price target on shares of CVS Health from $75.00 to $71.00 and set an “overweight” rating for the company in a research note on Thursday, November 7th. Finally, Cantor Fitzgerald reissued a “neutral” rating and issued a $62.00 target price on shares of CVS Health in a report on Tuesday, October 1st. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and twelve have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $72.44.

Institutional Investors Weigh In On CVS Health

Institutional investors and hedge funds have recently made changes to their positions in the company. MidAtlantic Capital Management Inc. acquired a new position in CVS Health during the 3rd quarter valued at about $25,000. Livelsberger Financial Advisory acquired a new position in shares of CVS Health during the 3rd quarter worth about $31,000. Legacy Investment Solutions LLC bought a new stake in shares of CVS Health in the 3rd quarter valued at about $31,000. Reston Wealth Management LLC acquired a new stake in shares of CVS Health in the 3rd quarter valued at approximately $32,000. Finally, First Community Trust NA boosted its stake in CVS Health by 116.2% during the 2nd quarter. First Community Trust NA now owns 562 shares of the pharmacy operator’s stock worth $33,000 after acquiring an additional 302 shares during the last quarter. Institutional investors own 80.66% of the company’s stock.

CVS Health Stock Performance

The stock’s fifty day moving average is $59.23 and its 200-day moving average is $58.72. The company has a quick ratio of 0.59, a current ratio of 0.80 and a debt-to-equity ratio of 0.80. The stock has a market cap of $66.93 billion, a price-to-earnings ratio of 13.50, a PEG ratio of 0.93 and a beta of 0.55.

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

CVS Health Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, November 1st. Stockholders of record on Monday, October 21st were issued a dividend of $0.665 per share. This represents a $2.66 annualized dividend and a dividend yield of 5.00%. The ex-dividend date of this dividend was Monday, October 21st. CVS Health’s dividend payout ratio (DPR) is presently 67.51%.

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.