CVS Health (NYSE:CVS) Trading Down 1.2% – Should You Sell?

CVS Health Co. (NYSE:CVS)’s stock price dropped 1.2% during trading on Thursday . The stock 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.

Analysts Set New Price Targets

Several brokerages recently issued reports on CVS. Edward Jones raised CVS Health from a “hold” rating to a “buy” rating in a report on Thursday. Truist Financial decreased their price objective on shares of CVS Health from $67.00 to $60.00 and set a “buy” rating on the stock in a research report on Monday, January 6th. Mizuho cut their target price on shares of CVS Health from $73.00 to $66.00 and set an “outperform” rating for the company in a research report on Thursday, October 24th. Piper Sandler lowered their price target on shares of CVS Health from $72.00 to $64.00 and set an “overweight” rating on the stock in a research report on Monday, November 25th. Finally, TD Cowen lifted their price objective on CVS Health from $73.00 to $80.00 and gave the stock a “buy” rating in a research report on Monday, November 25th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and fourteen have issued a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $68.12.

CVS Health Stock Down 0.1 %

The company has a debt-to-equity ratio of 0.80, a current ratio of 0.80 and a quick ratio of 0.59. The stock has a market capitalization of $71.53 billion, a price-to-earnings ratio of 14.43, a PEG ratio of 0.80 and a beta of 0.59. The firm’s fifty day moving average is $51.28 and its 200-day moving average is $56.17.

CVS Health (NYSE:CVS) last posted its earnings results on Wednesday, November 6th. The pharmacy operator reported $1.09 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.08 by $0.01. CVS Health had a return on equity of 10.72% and a net margin of 1.36%. The company had revenue of $95.43 billion for the quarter, compared to analysts’ expectations of $92.72 billion. During the same period last year, the business posted $2.21 earnings per share. The firm’s quarterly revenue was up 6.3% compared to the same quarter last year. On average, sell-side analysts predict that CVS Health Co. will post 5.22 earnings per share for the current year.

CVS Health Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, February 3rd. Shareholders of record on Thursday, January 23rd will be given a $0.665 dividend. The ex-dividend date is Thursday, January 23rd. This represents a $2.66 annualized dividend and a yield of 4.68%. CVS Health’s dividend payout ratio (DPR) is 67.51%.

Institutional Trading of CVS Health

Hedge funds have recently made changes to their positions in the stock. MidAtlantic Capital Management Inc. acquired a new stake in CVS Health in the 3rd quarter valued at approximately $25,000. Ridgewood Investments LLC raised its stake in CVS Health by 255.7% during the fourth quarter. Ridgewood Investments LLC now owns 626 shares of the pharmacy operator’s stock worth $28,000 after acquiring an additional 450 shares in the last quarter. Stonebridge Financial Group LLC acquired a new position in CVS Health in the fourth quarter valued at about $28,000. Livelsberger Financial Advisory acquired a new stake in CVS Health during the 3rd quarter valued at $31,000. Finally, Legacy Investment Solutions LLC bought a new position in shares of CVS Health in the third quarter valued at about $31,000. 80.66% of the stock is 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.