CVS Health (NYSE:CVS) Shares Down 1.2% – Here’s Why

Shares of CVS Health Co. (NYSE:CVS) were down 1.2% during mid-day trading on Thursday . The company traded as low as $55.32 and last traded at $56.23. Approximately 3,744,610 shares traded hands during trading, a decline of 71% from the average daily volume of 13,112,369 shares. The stock had previously closed at $56.90.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on CVS. TD Cowen lifted their price target on CVS Health from $73.00 to $80.00 and gave the company a “buy” rating in a research note on Monday, November 25th. Mizuho decreased their target price on shares of CVS Health from $73.00 to $66.00 and set an “outperform” rating on the stock in a research report on Thursday, October 24th. Wells Fargo & Company upgraded shares of CVS Health from an “equal weight” rating to an “overweight” rating and increased their price target for the company from $60.00 to $66.00 in a report on Monday, November 18th. Edward Jones raised shares of CVS Health from a “hold” rating to a “buy” rating in a report on Thursday. Finally, StockNews.com downgraded shares of CVS Health from a “hold” rating to a “sell” rating in a research report on Thursday, November 14th. One investment 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.com, the company has an average rating of “Moderate Buy” and a consensus target price of $68.12.

CVS Health Stock Down 0.5 %

The stock has a market cap of $71.13 billion, a price-to-earnings ratio of 14.35, a P/E/G ratio of 0.62 and a beta of 0.59. The firm’s 50 day moving average is $51.24 and its two-hundred day moving average is $56.17. The company has a current ratio of 0.80, a quick ratio of 0.59 and a debt-to-equity ratio of 0.80.

CVS Health (NYSE:CVS) last announced its quarterly earnings data on Wednesday, November 6th. The pharmacy operator reported $1.09 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.08 by $0.01. The business had revenue of $95.43 billion for the quarter, compared to the consensus estimate of $92.72 billion. CVS Health had a net margin of 1.36% and a return on equity of 10.72%. The company’s quarterly revenue was up 6.3% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $2.21 earnings per share. On average, sell-side analysts predict that CVS Health Co. will post 5.18 EPS for the current year.

CVS Health Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, February 3rd. Investors of record on Thursday, January 23rd will be given a dividend of $0.665 per share. The ex-dividend date is Thursday, January 23rd. This represents a $2.66 annualized dividend and a yield of 4.71%. CVS Health’s dividend payout ratio (DPR) is presently 67.51%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the stock. MidAtlantic Capital Management Inc. purchased a new stake in CVS Health in the third quarter valued at approximately $25,000. Livelsberger Financial Advisory acquired a new stake in shares of CVS Health during the 3rd quarter worth $31,000. Legacy Investment Solutions LLC purchased a new position in shares of CVS Health in the 3rd quarter worth $31,000. Reston Wealth Management LLC purchased a new stake in CVS Health during the third quarter valued at about $32,000. Finally, Kathleen S. Wright Associates Inc. acquired a new stake in CVS Health during the third quarter worth about $33,000. Institutional investors and hedge funds own 80.66% of the company’s stock.

About CVS Health

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.