CVS Health (NYSE:CVS) Downgraded to “Neutral” at Cantor Fitzgerald

CVS Health (NYSE:CVS) was downgraded by Cantor Fitzgerald from an “overweight” rating to a “neutral” rating in a research report issued on Wednesday, MarketBeat.com reports. They currently have a $58.00 price target on the pharmacy operator’s stock, down from their previous price target of $87.00. Cantor Fitzgerald’s price objective points to a potential upside of 3.24% from the stock’s current price.

A number of other equities analysts have also recently commented on the stock. StockNews.com cut shares of CVS Health from a “buy” rating to a “hold” rating in a research note on Thursday, February 15th. Leerink Partnrs reaffirmed an “outperform” rating on shares of CVS Health in a research note on Monday, February 26th. Barclays started coverage on shares of CVS Health in a research note on Wednesday, March 6th. They set an “equal weight” rating and a $78.00 price target for the company. SVB Leerink reaffirmed a “market perform” rating and set a $60.00 price target (down from $87.00) on shares of CVS Health in a research note on Wednesday. Finally, Wells Fargo & Company dropped their price target on shares of CVS Health from $83.00 to $76.00 and set an “equal weight” rating for the company in a research note on Monday, April 8th. Six equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $86.28.

CVS Health Price Performance

Shares of CVS stock traded down $11.53 on Wednesday, hitting $56.18. 48,603,430 shares of the stock traded hands, compared to its average volume of 11,065,579. The firm has a market cap of $70.81 billion, a price-to-earnings ratio of 8.72, a PEG ratio of 0.89 and a beta of 0.52. CVS Health has a 52 week low of $54.00 and a 52 week high of $83.25. The firm has a 50 day simple moving average of $74.05 and a two-hundred day simple moving average of $73.62. The company has a debt-to-equity ratio of 0.77, a current ratio of 0.86 and a quick ratio of 0.63.

CVS Health (NYSE:CVS) last announced its quarterly earnings results on Wednesday, February 7th. The pharmacy operator reported $2.12 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.01 by $0.11. The company had revenue of $93.81 billion for the quarter, compared to the consensus estimate of $90.58 billion. CVS Health had a net margin of 2.33% and a return on equity of 15.25%. CVS Health’s revenue for the quarter was up 11.9% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.99 EPS. As a group, equities research analysts predict that CVS Health will post 8.31 earnings per share for the current fiscal year.

Insider Buying and Selling at CVS Health

In related news, EVP Prem S. Shah sold 29,473 shares of the stock in a transaction that occurred on Friday, February 16th. The shares were sold at an average price of $76.95, for a total transaction of $2,267,947.35. Following the completion of the sale, the executive vice president now directly owns 39,765 shares of the company’s stock, valued at $3,059,916.75. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.24% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On CVS Health

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Atticus Wealth Management LLC grew its position in CVS Health by 149.0% in the fourth quarter. Atticus Wealth Management LLC now owns 366 shares of the pharmacy operator’s stock worth $29,000 after acquiring an additional 219 shares in the last quarter. USA Financial Formulas increased its holdings in shares of CVS Health by 573.2% during the 4th quarter. USA Financial Formulas now owns 377 shares of the pharmacy operator’s stock valued at $30,000 after acquiring an additional 321 shares during the last quarter. Cornerstone Planning Group LLC raised its stake in shares of CVS Health by 111.5% in the 3rd quarter. Cornerstone Planning Group LLC now owns 461 shares of the pharmacy operator’s stock valued at $32,000 after acquiring an additional 243 shares in the last quarter. Ables Iannone Moore & Associates Inc. bought a new stake in CVS Health during the fourth quarter worth approximately $32,000. Finally, Creekmur Asset Management LLC acquired a new position in CVS Health during the fourth quarter valued at approximately $34,000. 80.66% of the stock is currently owned by hedge funds and other institutional investors.

CVS Health Company Profile

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.