CVS Health (NYSE:CVS) Downgraded by Leerink Partnrs

CVS Health (NYSE:CVS) was downgraded by analysts at Leerink Partnrs from an “outperform” rating to a “market perform” rating in a report released 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.

A number of other research analysts also recently weighed in on CVS. Truist Financial reiterated 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. StockNews.com lowered CVS Health from a “buy” rating to a “hold” rating in a report on Thursday, February 15th. Bank of America reduced their target price on CVS Health from $95.00 to $77.00 and set a “buy” rating for the company in a report on Thursday. Mizuho lowered 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. Finally, SVB Leerink restated a “market perform” rating and issued a $60.00 price objective (down from $87.00) on shares of CVS Health in a research note on Wednesday. Eight research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. According to MarketBeat, CVS Health has an average rating of “Moderate Buy” and a consensus target price of $80.35.

CVS Health Stock Up 1.4 %

NYSE:CVS traded up $0.75 during mid-day trading on Wednesday, hitting $55.90. The company had a trading volume of 23,942,078 shares, compared to its average volume of 11,752,378. The firm has a market capitalization of $70.45 billion, a price-to-earnings ratio of 9.82, a PEG ratio of 0.89 and a beta of 0.56. The company has a current ratio of 0.81, a quick ratio of 0.63 and a debt-to-equity ratio of 0.78. CVS Health has a 1 year low of $53.70 and a 1 year high of $83.25. The business has a fifty day simple moving average of $73.19 and a 200-day simple moving average of $73.37.

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

Insider Buying and Selling at CVS Health

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

Hedge Funds Weigh In On CVS Health

Several large investors have recently bought and sold shares of the stock. Vanguard Group Inc. raised its position in shares of CVS Health by 0.5% in the fourth quarter. Vanguard Group Inc. now owns 117,696,285 shares of the pharmacy operator’s stock valued at $9,293,299,000 after purchasing an additional 533,659 shares during the period. Capital World Investors grew its stake in CVS Health by 0.3% in the 4th quarter. Capital World Investors now owns 40,544,702 shares of the pharmacy operator’s stock worth $3,201,410,000 after buying an additional 119,631 shares in the last quarter. Capital International Investors increased its stake in CVS Health by 47.4% in the fourth quarter. Capital International Investors now owns 33,691,698 shares of the pharmacy operator’s stock valued at $2,660,298,000 after acquiring an additional 10,837,801 shares during the last quarter. FMR LLC raised its holdings in shares of CVS Health by 29.1% during the 3rd quarter. FMR LLC now owns 27,487,238 shares of the pharmacy operator’s stock valued at $1,919,159,000 after buying an additional 6,194,441 shares in the last quarter. Finally, Northern Trust Corp lifted its holdings in shares of CVS Health by 2.2% in the 3rd quarter. Northern Trust Corp now owns 14,214,296 shares of the pharmacy operator’s stock worth $992,442,000 after acquiring an additional 305,564 shares during the last quarter. 80.66% of the stock is currently owned by institutional investors.

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.