CVS Health Co. (NYSE:CVS - Get Free Report)'s stock price fell 5.5% on Monday . The stock traded as low as $46.64 and last traded at $46.67. 13,838,306 shares were traded during trading, an increase of 22% from the average session volume of 11,388,480 shares. The stock had previously closed at $49.37.
Analyst Ratings Changes
Several brokerages recently issued reports on CVS. UBS Group increased their price target on CVS Health from $60.00 to $62.00 and gave the company a "neutral" rating in a report on Thursday, November 7th. Barclays reduced their price target on CVS Health from $75.00 to $71.00 and set an "overweight" rating on the stock in a research report on Thursday, November 7th. 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 report 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, Deutsche Bank Aktiengesellschaft raised shares of CVS Health from a "hold" rating to a "buy" rating and set a $66.00 price target for the company in a report on Tuesday, December 3rd. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and fourteen have assigned a buy rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $70.50.
Check Out Our Latest Stock Analysis on CVS Health
CVS Health Trading Down 5.7 %
The stock has a market cap of $58.62 billion, a price-to-earnings ratio of 12.53, a P/E/G ratio of 0.89 and a beta of 0.54. The business's fifty day simple moving average is $58.34 and its 200 day simple moving average is $58.68. The company has a debt-to-equity ratio of 0.80, a current ratio of 0.80 and a quick ratio of 0.59.
CVS Health (NYSE:CVS - Get Free Report) last released its quarterly earnings data on Wednesday, November 6th. The pharmacy operator reported $1.09 earnings per share for the quarter, topping the consensus estimate of $1.08 by $0.01. The firm had revenue of $95.43 billion for the quarter, compared to analyst estimates of $92.72 billion. CVS Health had a net margin of 1.36% and a return on equity of 10.72%. CVS Health's quarterly revenue was up 6.3% on a year-over-year basis. During the same quarter in the prior year, the business earned $2.21 earnings per share. On average, research analysts predict that CVS Health Co. will post 5.32 EPS 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 given a $0.665 dividend. The ex-dividend date was Monday, October 21st. This represents a $2.66 annualized dividend and a yield of 5.71%. CVS Health's dividend payout ratio is presently 67.51%.
Institutional Investors Weigh In On CVS Health
Several large investors have recently made changes to their positions in CVS. State Street Corp boosted its position in CVS Health by 3.6% during the 3rd quarter. State Street Corp now owns 56,527,909 shares of the pharmacy operator's stock worth $3,554,475,000 after acquiring an additional 1,989,066 shares during the period. Geode Capital Management LLC lifted its holdings in CVS Health by 1.8% in the third quarter. Geode Capital Management LLC now owns 26,361,673 shares of the pharmacy operator's stock worth $1,651,997,000 after purchasing an additional 461,569 shares during the period. Pzena Investment Management LLC increased its stake in CVS Health by 1.5% during the 3rd quarter. Pzena Investment Management LLC now owns 13,135,308 shares of the pharmacy operator's stock valued at $825,948,000 after buying an additional 198,920 shares during the period. Charles Schwab Investment Management Inc. lifted its stake in shares of CVS Health by 2.6% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 12,208,668 shares of the pharmacy operator's stock worth $767,681,000 after acquiring an additional 304,386 shares during the period. Finally, Hotchkis & Wiley Capital Management LLC boosted its holdings in shares of CVS Health by 34.8% in the third quarter. Hotchkis & Wiley Capital Management LLC now owns 11,897,034 shares of the pharmacy operator's stock valued at $748,085,000 after acquiring an additional 3,071,613 shares in the last quarter. Institutional investors and hedge funds own 80.66% of the company's stock.
About CVS Health
(
Get Free Report)
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.
Further Reading
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