CVS Health (NYSE:CVS) Cut to Buy at Wall Street Zen

by · The Cerbat Gem

Wall Street Zen downgraded shares of CVS Health (NYSE:CVS – Free Report) from a strong-buy rating to a buy rating in a research report sent to investors on Saturday,Wall Street Zen reports.

Several other equities analysts have also commented on the stock. Bank of America increased their target price on shares of CVS Health from $100.00 to $110.00 and gave the company a “buy” rating in a report on Monday, June 22nd. Weiss Ratings upgraded shares of CVS Health from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Wednesday, August 5th. JPMorgan Chase & Co. raised their price objective on CVS Health from $111.00 to $118.00 and gave the company an “overweight” rating in a research note on Wednesday, August 12th. HSBC reissued a “hold” rating and issued a $103.00 target price on shares of CVS Health in a research note on Monday, July 6th. Finally, Robert W. Baird set a $107.00 price target on CVS Health in a research note on Thursday, August 6th. Twenty-two research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $107.24.

Check Out Our Latest Research Report on CVS

CVS Health Price Performance

CVS opened at $86.94 on Friday. The company has a current ratio of 0.87, a quick ratio of 0.66 and a debt-to-equity ratio of 0.74. The stock has a market capitalization of $111.20 billion, a P/E ratio of 23.00, a PEG ratio of 0.84 and a beta of 0.60. The stock has a 50-day moving average price of $94.27 and a 200-day moving average price of $92.09. CVS Health has a 12-month low of $69.51 and a 12-month high of $110.68.

CVS Health (NYSE:CVS – Get Free Report) last announced its quarterly earnings data on Wednesday, August 5th. The pharmacy operator reported $2.58 earnings per share for the quarter, beating analysts’ consensus estimates of $1.87 by $0.71. The company had revenue of $106.10 billion for the quarter, compared to analysts’ expectations of $100.03 billion. CVS Health had a return on equity of 13.12% and a net margin of 1.18%.CVS Health’s revenue for the quarter was up 7.3% compared to the same quarter last year. During the same period last year, the firm posted $1.81 EPS. CVS Health has set its FY 2026 guidance at 7.900-8.100 EPS. Equities analysts predict that CVS Health will post 8.02 earnings per share for the current fiscal year.

CVS Health Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, November 2nd. Investors of record on Thursday, October 22nd will be paid a $0.6650 dividend. The ex-dividend date of this dividend is Thursday, October 22nd. This represents a $2.66 annualized dividend and a dividend yield of 3.1%. CVS Health’s dividend payout ratio (DPR) is presently 70.37%.

Institutional Investors Weigh In On CVS Health

Several institutional investors and hedge funds have recently bought and sold shares of CVS. BlackRock Inc. bought a new position in shares of CVS Health during the second quarter valued at approximately $12,747,462,000. State Street Corp increased its position in CVS Health by 26.3% during the 2nd quarter. State Street Corp now owns 74,927,064 shares of the pharmacy operator’s stock valued at $7,751,205,000 after purchasing an additional 15,604,883 shares during the period. Wellington Management Group LLP increased its position in CVS Health by 49.8% during the 2nd quarter. Wellington Management Group LLP now owns 33,801,113 shares of the pharmacy operator’s stock valued at $3,496,725,000 after purchasing an additional 11,233,381 shares during the period. Capital International Investors raised its holdings in CVS Health by 3.4% in the 4th quarter. Capital International Investors now owns 27,592,356 shares of the pharmacy operator’s stock worth $2,189,793,000 after purchasing an additional 900,153 shares in the last quarter. Finally, Bank of America Corp DE lifted its position in shares of CVS Health by 148.0% in the 2nd quarter. Bank of America Corp DE now owns 23,188,670 shares of the pharmacy operator’s stock worth $2,398,868,000 after purchasing an additional 13,836,701 shares during the period. Hedge funds and other institutional investors own 80.66% of the company’s stock.

CVS Health Company Profile

(Get Free Report)

CVS Health Corp. is an integrated health care company that provides pharmacy, insurance and health services primarily in the United States. Its operations are designed to connect consumers, health plans, health care providers and pharmacy services across multiple points of care.

The company’s major businesses include CVS Pharmacy retail locations, prescription fulfillment and consumer health products; CVS Caremark, a pharmacy benefit management business; and Aetna, which offers health insurance products and related services for employers, individuals, government programs and other organizations.

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