CVS Health (NYSE:CVS – Get Free Report) was downgraded by analysts at StockNews.com from a “buy” rating to a “hold” rating in a research note issued to investors on Tuesday.
Other equities research analysts have also issued research reports about the company. Morgan Stanley reduced their price target on CVS Health from $110.00 to $100.00 and set an “overweight” rating on the stock in a research report on Thursday, November 2nd. Royal Bank of Canada dropped their price objective on CVS Health from $91.00 to $86.00 and set an “outperform” rating on the stock in a research note on Thursday, November 2nd. Evercore ISI raised CVS Health from an “in-line” rating to an “outperform” rating and boosted their price objective for the company from $81.00 to $83.00 in a research note on Tuesday, September 19th. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $87.00 price target on shares of CVS Health in a research note on Tuesday, November 21st. Finally, Raymond James dropped their price target on CVS Health from $90.00 to $85.00 and set an “outperform” rating on the stock in a research note on Friday, August 4th. Four research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $92.59.
CVS Health Price Performance
CVS Health stock opened at $68.74 on Tuesday. The company has a debt-to-equity ratio of 0.80, a quick ratio of 0.64 and a current ratio of 0.86. CVS Health has a 52 week low of $64.41 and a 52 week high of $104.83. The stock has a market capitalization of $88.46 billion, a P/E ratio of 10.37, a price-to-earnings-growth ratio of 1.81 and a beta of 0.58. The stock has a fifty day moving average of $69.70 and a 200-day moving average of $69.97.
CVS Health (NYSE:CVS – Get Free Report) last issued its quarterly earnings data on Wednesday, November 1st. The pharmacy operator reported $2.21 earnings per share for the quarter, topping analysts’ consensus estimates of $2.13 by $0.08. The business had revenue of $89.76 billion for the quarter, compared to analyst estimates of $88.29 billion. CVS Health had a return on equity of 15.36% and a net margin of 2.47%. CVS Health’s quarterly revenue was up 10.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.09 EPS. On average, sell-side analysts expect that CVS Health will post 8.59 earnings per share for the current fiscal year.
Insider Transactions at CVS Health
In other CVS Health news, Director Edward J. Ludwig acquired 2,000 shares of the stock in a transaction that occurred on Friday, November 3rd. The shares were bought at an average price of $70.47 per share, for a total transaction of $140,940.00. Following the completion of the transaction, the director now owns 20,630 shares of the company’s stock, valued at approximately $1,453,796.10. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 0.25% of the company’s stock.
Institutional Investors Weigh In On CVS Health
A number of large investors have recently added to or reduced their stakes in the company. EP Wealth Advisors LLC increased its holdings in shares of CVS Health by 421.9% in the third quarter. EP Wealth Advisors LLC now owns 563,907 shares of the pharmacy operator’s stock worth $39,372,000 after buying an additional 455,868 shares during the period. Public Sector Pension Investment Board increased its holdings in shares of CVS Health by 3.7% in the third quarter. Public Sector Pension Investment Board now owns 409,581 shares of the pharmacy operator’s stock worth $28,597,000 after buying an additional 14,771 shares during the period. Graham Capital Management L.P. purchased a new position in shares of CVS Health in the third quarter worth about $1,446,000. Verity Asset Management Inc. increased its holdings in shares of CVS Health by 7.2% in the third quarter. Verity Asset Management Inc. now owns 4,004 shares of the pharmacy operator’s stock worth $280,000 after buying an additional 268 shares during the period. Finally, Allen Mooney & Barnes Investment Advisors LLC bought a new stake in shares of CVS Health in the third quarter worth about $9,184,000. Hedge funds and other institutional investors own 75.99% of the company’s stock.
About CVS Health
CVS Health Corporation provides health services in the United States. It operates through Health Care Benefits, Pharmacy Services, and Retail/LTC segments. The Health Care Benefits segment offers traditional, voluntary, and consumer-directed health insurance products and related services. It serves employer groups, individuals, college students, part-time and hourly workers, health plans, health care providers, governmental units, government-sponsored plans, labor groups, and expatriates.