CVS Health (NYSE:CVS) Hits New 12-Month Low - Time to Sell?

Shares of CVS Health Co. (NYSE:CVS - Get Free Report) reached a new 52-week low during trading on Tuesday . The stock traded as low as $46.25 and last traded at $46.25, with a volume of 45806 shares changing hands. The stock had previously closed at $46.60.

Wall Street Analysts Forecast Growth

CVS has been the topic of a number of recent research reports. Mizuho reduced their price objective on CVS Health from $73.00 to $66.00 and set an "outperform" rating on the stock in a research note on Thursday, October 24th. Evercore ISI boosted their price objective on CVS Health from $62.00 to $75.00 and gave the company an "outperform" rating in a research report on Tuesday, October 8th. TD Cowen lifted their target price on shares of CVS Health from $73.00 to $80.00 and gave the stock a "buy" rating in a research note on Monday, November 25th. StockNews.com cut shares of CVS Health from a "hold" rating to a "sell" rating in a research report on Thursday, November 14th. Finally, Piper Sandler lowered their price objective on shares of CVS Health from $72.00 to $64.00 and set an "overweight" rating for the company in a research note on Monday, November 25th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and fourteen have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $70.50.

CVS Health Stock Performance

The company has a market capitalization of $55.42 billion, a PE ratio of 11.18, a price-to-earnings-growth ratio of 0.89 and a beta of 0.54. The company has a current ratio of 0.80, a quick ratio of 0.59 and a debt-to-equity ratio of 0.80. The business's fifty day moving average is $57.55 and its two-hundred day moving average is $58.54.

CVS Health (NYSE:CVS - Get Free Report) last announced its quarterly earnings results on Wednesday, November 6th. The pharmacy operator reported $1.09 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.08 by $0.01. CVS Health had a return on equity of 10.72% and a net margin of 1.36%. The firm had revenue of $95.43 billion for the quarter, compared to the consensus estimate of $92.72 billion. During the same period in the prior year, the company posted $2.21 earnings per share. The company's quarterly revenue was up 6.3% on a year-over-year basis. Equities research analysts predict that CVS Health Co. will post 5.32 earnings per share for the current year.

CVS Health Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, November 1st. Investors of record on Monday, October 21st were issued a $0.665 dividend. This represents a $2.66 annualized dividend and a dividend yield of 6.04%. The ex-dividend date of this dividend was Monday, October 21st. CVS Health's payout ratio is currently 67.51%.

Institutional Trading of CVS Health

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