Vetr Downgrades CVS Health (NYSE:CVS) to Hold

Vetr lowered shares of CVS Health (NYSE:CVS) from a buy rating to a hold rating in a research report sent to investors on Thursday, January 4th. Vetr currently has $77.11 price target on the pharmacy operator’s stock.

Several other research firms have also issued reports on CVS. Royal Bank of Canada began coverage on shares of CVS Health in a report on Tuesday, September 19th. They issued an outperform rating and a $95.00 target price on the stock. Jefferies Group lifted their price target on shares of CVS Health from $82.00 to $86.00 and gave the company a hold rating in a research note on Friday, September 15th. Needham & Company LLC reaffirmed a hold rating on shares of CVS Health in a research note on Sunday, September 10th. Oppenheimer reaffirmed a buy rating and issued a $95.00 price target on shares of CVS Health in a research note on Monday, October 9th. Finally, Mizuho set a $90.00 target price on shares of CVS Health and gave the stock a buy rating in a research report on Tuesday, October 24th. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating, twelve have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. The company presently has an average rating of Buy and a consensus price target of $86.66.

Shares of CVS Health (CVS) traded down $0.24 during trading hours on Thursday, reaching $78.78. 7,096,589 shares of the company were exchanged, compared to its average volume of 10,770,000. CVS Health has a fifty-two week low of $66.45 and a fifty-two week high of $84.72. The company has a debt-to-equity ratio of 0.67, a current ratio of 1.05 and a quick ratio of 0.55. The company has a market capitalization of $79,800.00, a PE ratio of 16.28, a price-to-earnings-growth ratio of 1.25 and a beta of 0.90.

CVS Health (NYSE:CVS) last issued its quarterly earnings results on Monday, November 6th. The pharmacy operator reported $1.50 EPS for the quarter, topping analysts’ consensus estimates of $1.49 by $0.01. The company had revenue of $46.18 billion for the quarter, compared to analyst estimates of $46.17 billion. CVS Health had a net margin of 2.77% and a return on equity of 16.96%. CVS Health’s revenue was up 3.5% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.64 earnings per share. sell-side analysts predict that CVS Health will post 5.89 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Friday, February 2nd. Investors of record on Wednesday, January 24th will be issued a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a yield of 2.54%. The ex-dividend date is Tuesday, January 23rd. CVS Health’s dividend payout ratio (DPR) is presently 41.32%.

In other news, EVP Lisa Bisaccia sold 29,445 shares of the stock in a transaction on Thursday, December 21st. The shares were sold at an average price of $75.00, for a total value of $2,208,375.00. Following the transaction, the executive vice president now owns 15,556 shares of the company’s stock, valued at approximately $1,166,700. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 0.61% of the company’s stock.

Large investors have recently modified their holdings of the company. Hayek Kallen Investment Management boosted its position in CVS Health by 6.5% during the 1st quarter. Hayek Kallen Investment Management now owns 14,425 shares of the pharmacy operator’s stock valued at $1,132,000 after buying an additional 882 shares during the period. Gould Asset Management LLC CA boosted its position in CVS Health by 24.1% during the 1st quarter. Gould Asset Management LLC CA now owns 4,785 shares of the pharmacy operator’s stock valued at $376,000 after buying an additional 930 shares during the period. Cadence Capital Management LLC boosted its position in CVS Health by 715.8% during the 1st quarter. Cadence Capital Management LLC now owns 158,796 shares of the pharmacy operator’s stock valued at $12,465,000 after buying an additional 139,330 shares during the period. ARGI Investment Services LLC purchased a new stake in CVS Health during the 1st quarter valued at $874,000. Finally, SNS Financial Group LLC purchased a new stake in CVS Health during the 1st quarter valued at $316,000. 81.62% of the stock is currently owned by hedge funds and other institutional investors.

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About CVS Health

CVS Health Corporation, together with its subsidiaries, is an integrated pharmacy healthcare company. The Company provides pharmacy care for the senior community through Omnicare, Inc (Omnicare) and Omnicare’s long-term care (LTC) operations, which include distribution of pharmaceuticals, related pharmacy consulting and other ancillary services to chronic care facilities and other care settings.

To view Vetr’s full report, visit Vetr’s official website.

Analyst Recommendations for CVS Health (NYSE:CVS)

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