CVS Health (NYSE:CVS) Cut to “Market Perform” at Leerink Partnrs

Leerink Partnrs cut shares of CVS Health (NYSE:CVS) from an outperform rating to a market perform rating in a report issued on Wednesday morning, Zacks.com reports. Leerink Partnrs also issued estimates for CVS Health’s Q4 2024 earnings at $1.94 EPS and FY2027 earnings at $9.68 EPS.

Several other research firms also recently issued reports on CVS. The Goldman Sachs Group cut their price objective on CVS Health from $85.00 to $74.00 and set a buy rating on the stock in a report on Thursday. Wells Fargo & Company cut their price target on CVS Health from $83.00 to $76.00 and set an equal weight rating on the stock in a report on Monday, April 8th. UBS Group downgraded CVS Health from a buy rating to a neutral rating and cut their price target for the stock from $85.00 to $60.00 in a report on Thursday. Truist Financial restated a buy rating and set a $66.00 price target (down previously from $90.00) on shares of CVS Health in a report on Thursday. Finally, Royal Bank of Canada cut their price target on CVS Health from $86.00 to $84.00 and set an outperform rating on the stock in a report on Thursday, February 8th. Eight research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of Moderate Buy and a consensus target price of $80.35.

CVS Health Stock Performance

Shares of CVS Health stock opened at $55.90 on Wednesday. The company has a quick ratio of 0.63, a current ratio of 0.81 and a debt-to-equity ratio of 0.78. The firm has a market cap of $70.45 billion, a PE ratio of 9.82, a price-to-earnings-growth ratio of 0.89 and a beta of 0.56. CVS Health has a 52 week low of $53.70 and a 52 week high of $83.25. The business’s fifty day simple moving average is $73.19 and its 200-day simple moving average is $73.37.

CVS Health (NYSE:CVS) last posted its quarterly earnings data on Wednesday, May 1st. The pharmacy operator reported $1.31 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.69 by ($0.38). The firm had revenue of $88.44 billion during the quarter, compared to analysts’ expectations of $89.33 billion. CVS Health had a net margin of 2.03% and a return on equity of 13.53%. CVS Health’s quarterly revenue was up 3.7% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $2.20 EPS. Equities analysts forecast that CVS Health will post 7 earnings per share for the current year.

CVS Health Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, May 1st. Investors of record on Monday, April 22nd were given a $0.665 dividend. The ex-dividend date of this dividend was Friday, April 19th. This represents a $2.66 dividend on an annualized basis and a dividend yield of 4.76%. CVS Health’s dividend payout ratio (DPR) is presently 46.75%.

Insider Activity at CVS Health

In related news, EVP Prem S. Shah sold 29,473 shares of the company’s stock in a transaction dated Friday, February 16th. The stock was sold at an average price of $76.95, for a total value 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 approximately $3,059,916.75. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In related news, Director Edward J. Ludwig acquired 1,000 shares of the firm’s stock in a transaction on Thursday, May 2nd. The stock was bought at an average cost of $53.88 per share, with a total value of $53,880.00. Following the transaction, the director now owns 21,630 shares of the company’s stock, valued at $1,165,424.40. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Prem S. Shah sold 29,473 shares of the stock in a transaction that occurred on Friday, February 16th. The stock was sold at an average price of $76.95, for a total value of $2,267,947.35. Following the sale, the executive vice president now directly owns 39,765 shares of the company’s stock, valued at $3,059,916.75. The disclosure for this sale can be found here. Insiders own 0.24% of the company’s stock.

Institutional Trading of CVS Health

Hedge funds have recently added to or reduced their stakes in the stock. Atticus Wealth Management LLC lifted its position in CVS Health by 149.0% during the 4th quarter. Atticus Wealth Management LLC now owns 366 shares of the pharmacy operator’s stock worth $29,000 after acquiring an additional 219 shares during the period. USA Financial Formulas raised its stake 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 worth $30,000 after buying an additional 321 shares in the last quarter. Ables Iannone Moore & Associates Inc. purchased a new position in shares of CVS Health during the 4th quarter worth approximately $32,000. Creekmur Asset Management LLC purchased a new position in shares of CVS Health during the 4th quarter worth approximately $34,000. Finally, Steph & Co. raised its stake in shares of CVS Health by 192.0% during the 1st quarter. Steph & Co. now owns 438 shares of the pharmacy operator’s stock worth $35,000 after buying an additional 288 shares in the last quarter. 80.66% of the stock is owned by institutional investors and hedge funds.

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.