CVS Health (NYSE:CVS) Downgraded by Leerink Partnrs to “Market Perform”

Leerink Partnrs downgraded shares of CVS Health (NYSE:CVS) from an outperform rating to a market perform rating in a research note issued to investors on Wednesday, 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.

CVS has been the topic of several other research reports. StockNews.com downgraded CVS Health from a buy rating to a hold rating in a report on Thursday, February 15th. Mizuho decreased their price target on CVS Health from $86.00 to $72.00 and set a buy rating on the stock in a report on Thursday. SVB Leerink restated a market perform rating and set a $60.00 target price (down from $87.00) on shares of CVS Health in a research report on Wednesday. Bank of America lowered their price target on shares of CVS Health from $95.00 to $77.00 and set a buy rating for the company in a research report on Thursday. Finally, Royal Bank of Canada cut their price objective on shares of CVS Health from $86.00 to $84.00 and set an outperform rating on the stock in a report on Thursday, February 8th. Eight equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. Based on data from MarketBeat.com, CVS Health presently has a consensus rating of Moderate Buy and a consensus price target of $80.35.

CVS Health Price Performance

CVS traded up $0.75 during trading on Wednesday, hitting $55.90. The company’s stock had a trading volume of 23,942,078 shares, compared to its average volume of 11,752,378. The firm’s 50 day moving average price is $73.19 and its two-hundred day moving average price is $73.37. 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 stock has a market capitalization of $70.45 billion, a price-to-earnings ratio of 9.82, a price-to-earnings-growth ratio of 0.89 and a beta of 0.56. CVS Health has a 12 month low of $53.70 and a 12 month high of $83.25.

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

CVS Health Announces Dividend

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

Insider Transactions at CVS Health

In other news, Director Edward J. Ludwig purchased 1,000 shares of the company’s stock in a transaction on Thursday, May 2nd. The shares were purchased at an average price of $53.88 per share, with a total value of $53,880.00. Following the purchase, the director now directly owns 21,630 shares of the company’s stock, valued at approximately $1,165,424.40. The transaction was disclosed in a document filed with the SEC, which is available at this link. In other CVS Health news, Director Edward J. Ludwig purchased 1,000 shares of the firm’s stock in a transaction dated 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 purchase, the director now directly owns 21,630 shares of the company’s stock, valued at $1,165,424.40. The acquisition was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP Prem S. Shah sold 29,473 shares of the business’s stock in a transaction on Friday, February 16th. The stock was 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 in the company, valued at approximately $3,059,916.75. The disclosure for this sale can be found here. 0.24% of the stock is owned by insiders.

Hedge Funds Weigh In On CVS Health

Hedge funds have recently modified their holdings of the stock. SOA Wealth Advisors LLC. lifted its stake in CVS Health by 4.9% in the fourth quarter. SOA Wealth Advisors LLC. now owns 2,859 shares of the pharmacy operator’s stock valued at $226,000 after acquiring an additional 133 shares during the last quarter. Apella Capital LLC lifted its stake in CVS Health by 4.2% in the 4th quarter. Apella Capital LLC now owns 3,378 shares of the pharmacy operator’s stock valued at $272,000 after purchasing an additional 136 shares during the last quarter. Prairie Sky Financial Group LLC increased its position in CVS Health by 4.1% during the fourth quarter. Prairie Sky Financial Group LLC now owns 3,612 shares of the pharmacy operator’s stock worth $285,000 after buying an additional 141 shares during the last quarter. WealthShield Partners LLC raised its stake in CVS Health by 3.2% in the fourth quarter. WealthShield Partners LLC now owns 4,498 shares of the pharmacy operator’s stock valued at $355,000 after buying an additional 141 shares during the period. Finally, Sugarloaf Wealth Management LLC lifted its position in shares of CVS Health by 9.5% in the fourth quarter. Sugarloaf Wealth Management LLC now owns 1,639 shares of the pharmacy operator’s stock valued at $129,000 after buying an additional 142 shares during the last quarter. Institutional investors own 80.66% of the company’s stock.

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.