Trade Report: The Vetr Inc. lowers the Stock rating of CVS Health Corporation (CVS)

The Vetr Inc. lowers the Stock rating of CVS Health Corporation (CVS)

CVS Health Corporation (NYSE:CVS) was downgraded by analysts at Vetr from a “strong-buy” rating to a “hold” rating in a report released on Thursday. They presently have a $87.73 price objective on the pharmacy operator’s stock. Vetr‘s price target indicates a potential upside of 1.54% from the company’s current price.

Other equities research analysts have also recently issued reports about the company. Deutsche Bank AG upped their price target on CVS Health Corporation from $99.00 to $105.00 and gave the company a “hold” rating in a research report on Wednesday, June 22nd. Argus reiterated a “buy” rating and set a $120.00 price target on shares of CVS Health Corporation in a research report on Thursday, August 4th. Leerink Swann reiterated a “buy” rating on shares of CVS Health Corporation in a research report on Wednesday, August 3rd. Zacks Investment Research upgraded CVS Health Corporation from a “sell” rating to a “hold” rating in a research report on Wednesday, August 3rd. Finally, Mizuho upped their price target on CVS Health Corporation from $108.00 to $111.00 and gave the company a “buy” rating in a research report on Thursday, August 4th. Five investment analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and one has given a strong buy rating to the company. CVS Health Corporation has a consensus rating of “Buy” and a consensus target price of $112.40.

Shares of CVS Health Corporation (NYSE:CVS) opened at 86.40 on Thursday. The company’s 50-day moving average is $91.41 and its 200 day moving average is $96.91. The firm has a market capitalization of $92.12 billion, a P/E ratio of 19.88 and a beta of 0.83. CVS Health Corporation has a 52-week low of $85.89 and a 52-week high of $106.67.

CVS Health Corporation (NYSE:CVS) last released its quarterly earnings data on Tuesday, August 2nd. The pharmacy operator reported $1.32 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.30 by $0.02. The business had revenue of $43.70 billion for the quarter, compared to the consensus estimate of $44.28 billion. CVS Health Corporation had a net margin of 2.88% and a return on equity of 15.86%. The company’s revenue was up 17.6% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.19 earnings per share. Analysts expect that CVS Health Corporation will post $5.86 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, November 3rd. Shareholders of record on Monday, October 24th will be given a dividend of $0.425 per share. This represents a $1.70 annualized dividend and a yield of 1.97%. The ex-dividend date of this dividend is Thursday, October 20th. CVS Health Corporation’s dividend payout ratio is currently 39.08%.

A number of institutional investors have recently made changes to their positions in CVS. East Coast Asset Management LLC. raised its position in shares of CVS Health Corporation by 0.3% in the second quarter. East Coast Asset Management LLC. now owns 2,431 shares of the pharmacy operator’s stock valued at $233,000 after buying an additional 7 shares in the last quarter. Valley National Advisers Inc. raised its position in shares of CVS Health Corporation by 0.5% in the second quarter. Valley National Advisers Inc. now owns 1,790 shares of the pharmacy operator’s stock valued at $171,000 after buying an additional 9 shares in the last quarter. Lourd Capital LLC raised its position in CVS Health Corporation by 0.3% in the second quarter. Lourd Capital LLC now owns 3,598 shares of the pharmacy operator’s stock valued at $344,000 after buying an additional 11 shares in the last quarter. Thompson Davis & CO. Inc. raised its position in CVS Health Corporation by 0.5% in the second quarter. Thompson Davis & CO. Inc. now owns 2,606 shares of the pharmacy operator’s stock valued at $249,000 after buying an additional 14 shares in the last quarter. Finally, Burke & Herbert Bank & Trust Co. raised its position in CVS Health Corporation by 0.3% in the third quarter. Burke & Herbert Bank & Trust Co. now owns 6,250 shares of the pharmacy operator’s stock valued at $556,000 after buying an additional 21 shares in the last quarter. 80.96% of the stock is owned by institutional investors and hedge funds.

About CVS Health Corporation

CVS Health Corporation, together with its subsidiaries (CVS Health), is a pharmacy company. The Company operates through three business segments: Pharmacy Services, Retail/LTC and Corporate. The Company offers a range of products and services, such as advising patients on their medications at its CVS Pharmacy locations, introducing programs to help control costs for its clients at CVS Caremark, how care is delivered to its patients with conditions through CVS Specialty, pharmacy care for the senior community through Omnicare.

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