CVS Health (NYSE:CVS) Stock Price Down 5.5% – Time to Sell?

CVS Health Co. (NYSE:CVS) shares were down 5.5% during trading on Monday . The stock traded as low as $46.64 and last traded at $46.67. Approximately 13,838,306 shares changed hands during trading, an increase of 22% from the average daily volume of 11,388,480 shares. The stock had previously closed at $49.37.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on CVS shares. Barclays reduced their target price on shares of CVS Health from $75.00 to $71.00 and set an “overweight” rating for the company in a report on Thursday, November 7th. TD Cowen increased their price target on shares of CVS Health from $73.00 to $80.00 and gave the company a “buy” rating in a research note on Monday, November 25th. UBS Group increased their price target on shares of CVS Health from $60.00 to $62.00 and gave the company a “neutral” rating in a research note on Thursday, November 7th. Truist Financial reiterated a “buy” rating and issued a $67.00 price target (down previously from $76.00) on shares of CVS Health in a research note on Wednesday, November 20th. Finally, Cantor Fitzgerald reiterated a “neutral” rating and issued a $62.00 price target on shares of CVS Health in a research note on Tuesday, October 1st. One analyst has rated the stock with a sell rating, six have assigned a hold rating and fourteen have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $70.50.

CVS Health Trading Up 2.8 %

The firm has a market capitalization of $56.98 billion, a P/E ratio of 11.49, a price-to-earnings-growth ratio of 0.89 and a beta of 0.54. The business’s 50-day moving average is $57.14 and its 200 day moving average is $58.44. The company has a debt-to-equity ratio of 0.80, a current ratio of 0.80 and a quick ratio of 0.59.

CVS Health (NYSE:CVS) last released its quarterly earnings results on Wednesday, November 6th. The pharmacy operator reported $1.09 EPS for the quarter, topping analysts’ consensus estimates of $1.08 by $0.01. CVS Health had a net margin of 1.36% and a return on equity of 10.72%. The business had revenue of $95.43 billion for the quarter, compared to analyst estimates of $92.72 billion. During the same period last year, the firm earned $2.21 earnings per share. CVS Health’s revenue for the quarter was up 6.3% compared to the same quarter last year. As a group, analysts anticipate that CVS Health Co. will post 5.32 EPS for the current fiscal year.

CVS Health Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, November 1st. Shareholders of record on Monday, October 21st were issued a $0.665 dividend. This represents a $2.66 annualized dividend and a yield of 5.87%. The ex-dividend date of this dividend was Monday, October 21st. CVS Health’s dividend payout ratio is currently 67.51%.

Hedge Funds Weigh In On CVS Health

Several hedge funds have recently bought and sold shares of CVS. Garland Capital Management Inc. boosted its stake in shares of CVS Health by 0.3% in the 2nd quarter. Garland Capital Management Inc. now owns 60,810 shares of the pharmacy operator’s stock valued at $3,591,000 after purchasing an additional 160 shares in the last quarter. Sound Income Strategies LLC boosted its stake in shares of CVS Health by 7.2% in the 3rd quarter. Sound Income Strategies LLC now owns 2,397 shares of the pharmacy operator’s stock valued at $151,000 after purchasing an additional 162 shares in the last quarter. Plimoth Trust Co. LLC boosted its stake in shares of CVS Health by 0.4% in the 2nd quarter. Plimoth Trust Co. LLC now owns 46,637 shares of the pharmacy operator’s stock valued at $2,754,000 after purchasing an additional 174 shares in the last quarter. Hexagon Capital Partners LLC boosted its stake in shares of CVS Health by 3.5% in the 3rd quarter. Hexagon Capital Partners LLC now owns 5,268 shares of the pharmacy operator’s stock valued at $331,000 after purchasing an additional 178 shares in the last quarter. Finally, Bruce G. Allen Investments LLC boosted its stake in shares of CVS Health by 13.1% in the 3rd quarter. Bruce G. Allen Investments LLC now owns 1,681 shares of the pharmacy operator’s stock valued at $106,000 after purchasing an additional 195 shares in the last quarter. 80.66% of the stock is owned by 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.