CVS Health Corporation (NYSE:CVS) was downgraded by Vetr from a "strong-buy" rating to a "hold" rating in a note issued to investors on Monday. They presently have a $95.44 price target on the pharmacy operator's stock. Vetr's target price indicates a potential upside of 1.49% from the stock's current price.
Shares of CVS Health Corporation (NYSE:CVS) traded down 2.60% during trading on Monday, hitting $94.04. 7,405,196 shares of the stock were exchanged. CVS Health Corporation has a one year low of $81.37 and a one year high of $113.65. The stock's 50 day moving average price is $95.72 and its 200 day moving average price is $98.31. The stock has a market cap of $101.00 billion and a PE ratio of 20.44.
CVS Health Corporation (NYSE:CVS) last posted its quarterly earnings results on Tuesday, May 3rd. The pharmacy operator reported $1.18 earnings per share for the quarter, topping the Zacks' consensus estimate of $1.16 by $0.02. During the same period last year, the business earned $1.14 earnings per share. The firm had revenue of $43.20 billion for the quarter, compared to analysts' expectations of $43.01 billion. The firm's revenue for the quarter was up 18.9% on a year-over-year basis. Equities research analysts predict that CVS Health Corporation will post $5.82 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, August 1st. Shareholders of record on Thursday, July 21st will be given a $0.425 dividend. The ex-dividend date is Tuesday, July 19th. This represents a $1.70 annualized dividend and a yield of 1.81%.
A number of other equities research analysts also recently weighed in on the company. Morgan Stanley downgraded CVS Health Corporation from an "overweight" rating to an "equal weight" rating and cut their price target for the stock from $111.00 to $104.00 in a research note on Monday, June 20th. Credit Suisse Group AG reaffirmed a "buy" rating and set a $115.00 price target on shares of CVS Health Corporation in a research note on Sunday, June 5th. Jefferies Group reaffirmed a "buy" rating on shares of CVS Health Corporation in a research note on Monday, July 4th. Deutsche Bank AG raised their price target on CVS Health Corporation from $99.00 to $105.00 and gave the stock a "hold" rating in a research note on Wednesday, June 22nd. Finally, Mizuho reaffirmed a "buy" rating and set a $108.00 price target (down from $117.00) on shares of CVS Health Corporation in a research note on Thursday, June 23rd. One analyst has rated the stock with a sell rating, five have issued a hold rating, seventeen have given a buy rating and one has issued a strong buy rating to the company. The stock has a consensus rating of "Buy" and a consensus price target of $112.98.
In other news, EVP Troyen A. Brennan sold 7,517 shares of the business's stock in a transaction on Thursday, May 5th. The stock was sold at an average price of $105.00, for a total transaction of $789,285.00. Following the completion of the sale, the executive vice president now owns 69,601 shares in the company, valued at $7,308,105. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CEO Larry J. Merlo sold 38,247 shares of the business's stock in a transaction on Thursday, May 5th. The stock was sold at an average price of $105.00, for a total value of $4,015,935.00. Following the sale, the chief executive officer now owns 280,381 shares of the company's stock, valued at approximately $29,440,005. The disclosure for this sale can be found here.
Several large investors have recently added to or reduced their stakes in CVS. East Coast Asset Management LLC. increased its stake in CVS Health Corporation by 0.3% in the first quarter. East Coast Asset Management LLC. now owns 2,424 shares of the pharmacy operator's stock worth $251,000 after buying an additional 8 shares during the last quarter. Palladium Partners LLC increased its stake in CVS Health Corporation by 1.0% in the second quarter. Palladium Partners LLC now owns 3,724 shares of the pharmacy operator's stock worth $356,000 after buying an additional 38 shares during the last quarter. Harvest Capital Management Inc. increased its stake in CVS Health Corporation by 0.8% in the second quarter. Harvest Capital Management Inc. now owns 5,195 shares of the pharmacy operator's stock worth $497,000 after buying an additional 40 shares during the last quarter. Nicolet Bankshares Inc. increased its stake in CVS Health Corporation by 1.1% in the first quarter. Nicolet Bankshares Inc. now owns 4,738 shares of the pharmacy operator's stock worth $491,000 after buying an additional 50 shares during the last quarter. Finally, Adirondack Trust Co. increased its stake in CVS Health Corporation by 0.4% in the second quarter. Adirondack Trust Co. now owns 13,787 shares of the pharmacy operator's stock worth $1,320,000 after buying an additional 50 shares during the last quarter.
CVS Health Corporation, together with its subsidiaries, is a pharmacy company. The Company operates through three business segments: Pharmacy Services, Retail Pharmacy and Corporate. The Pharmacy Services segment provides a range of pharmacy benefit management (PBM) services and operates under the CVS/caremark Pharmacy Services, Novologix and Navarro Health Services names.