Shares of CVS Health Co. (NYSE:CVS – Get Rating) hit a new 52-week low during trading on Tuesday after UBS Group lowered their price target on the stock from $102.00 to $94.00. The company traded as low as $71.65 and last traded at $71.84, with a volume of 3015097 shares. The stock had previously closed at $73.89.
A number of other equities analysts also recently issued reports on CVS. Wells Fargo & Company dropped their price objective on shares of CVS Health from $106.00 to $101.00 and set an “equal weight” rating on the stock in a report on Tuesday, January 3rd. StockNews.com initiated coverage on shares of CVS Health in a report on Thursday, March 16th. They set a “buy” rating on the stock. Sanford C. Bernstein lowered their price target on shares of CVS Health from $107.00 to $93.00 in a report on Tuesday. Cantor Fitzgerald began coverage on shares of CVS Health in a report on Thursday, April 20th. They issued an “overweight” rating and a $87.00 target price on the stock. Finally, Barclays lowered their target price on shares of CVS Health from $110.00 to $100.00 and set an “overweight” rating on the stock in a report on Thursday, March 30th. Three analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $113.61.
Institutional Trading of CVS Health
A number of institutional investors have recently modified their holdings of CVS. Live Oak Investment Partners purchased a new position in shares of CVS Health in the 4th quarter valued at approximately $25,000. SRS Capital Advisors Inc. increased its holdings in shares of CVS Health by 105.8% during the 3rd quarter. SRS Capital Advisors Inc. now owns 284 shares of the pharmacy operator’s stock valued at $27,000 after purchasing an additional 146 shares in the last quarter. VitalStone Financial LLC purchased a new position in shares of CVS Health during the 4th quarter valued at approximately $28,000. Godsey & Gibb Inc. purchased a new position in shares of CVS Health during the 4th quarter valued at approximately $28,000. Finally, Castleview Partners LLC increased its holdings in shares of CVS Health by 227.8% during the 4th quarter. Castleview Partners LLC now owns 318 shares of the pharmacy operator’s stock valued at $30,000 after purchasing an additional 221 shares in the last quarter. 77.29% of the stock is currently owned by institutional investors.
CVS Health Stock Performance
CVS Health (NYSE:CVS – Get Rating) last posted its earnings results on Wednesday, February 8th. The pharmacy operator reported $1.99 earnings per share for the quarter, beating the consensus estimate of $1.92 by $0.07. The firm had revenue of $83.85 billion during the quarter, compared to analyst estimates of $76.37 billion. CVS Health had a net margin of 1.29% and a return on equity of 15.75%. The business’s quarterly revenue was up 9.5% on a year-over-year basis. During the same period in the previous year, the firm earned $1.98 EPS. As a group, equities research analysts forecast that CVS Health Co. will post 8.76 EPS for the current year.
CVS Health Announces Dividend
The business also recently declared a quarterly dividend, which was paid on Monday, May 1st. Investors of record on Friday, April 21st were issued a $0.605 dividend. This represents a $2.42 annualized dividend and a yield of 3.33%. The ex-dividend date was Thursday, April 20th. CVS Health’s payout ratio is presently 77.56%.
About CVS Health
CVS Health Corp. is a health solutions company, which engages in the provision of healthcare services. It operates through the following segments: Pharmacy Services, Retail or Long-Term Care, Health Care Benefits, and Corporate and Other. The Pharmacy Services segment focuses on the pharmacy benefit management solutions.
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