CVS Health (NYSE:CVS) Cut to Sell at StockNews.com

CVS Health (NYSE:CVS) was downgraded by investment analysts at StockNews.com from a “hold” rating to a “sell” rating in a research note issued on Thursday.

Several other brokerages have also recently commented on CVS. Evercore ISI raised their target price on CVS Health from $62.00 to $75.00 and gave the stock an “outperform” rating in a research report on Tuesday, October 8th. Barclays dropped their target price on CVS Health from $75.00 to $71.00 and set an “overweight” rating on the stock in a report on Thursday, November 7th. Royal Bank of Canada restated an “outperform” rating and set a $68.00 price target on shares of CVS Health in a report on Wednesday, September 4th. TD Cowen upgraded shares of CVS Health from a “hold” rating to a “buy” rating and upped their price objective for the company from $59.00 to $85.00 in a research note on Friday, October 4th. Finally, Mizuho decreased their target price on shares of CVS Health from $73.00 to $66.00 and set an “outperform” rating for the company in a research note on Thursday, October 24th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and twelve have issued a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $73.00.

CVS Health Trading Up 1.5 %

Shares of NYSE CVS traded up $0.84 during mid-day trading on Thursday, hitting $55.11. 8,786,038 shares of the company traded hands, compared to its average volume of 11,317,634. The business has a 50 day moving average of $59.41 and a two-hundred day moving average of $58.79. The stock has a market capitalization of $69.35 billion, a price-to-earnings ratio of 13.99, a PEG ratio of 0.94 and a beta of 0.55. CVS Health has a 1 year low of $52.77 and a 1 year high of $83.25. The company has a quick ratio of 0.59, a current ratio of 0.80 and a debt-to-equity ratio of 0.80.

CVS Health (NYSE:CVS) last released its earnings results on Wednesday, November 6th. The pharmacy operator reported $1.09 earnings per share for the quarter, topping the consensus estimate of $1.08 by $0.01. The business had revenue of $95.43 billion for the quarter, compared to the consensus estimate of $92.72 billion. CVS Health had a net margin of 1.36% and a return on equity of 10.72%. The firm’s quarterly revenue was up 6.3% compared to the same quarter last year. During the same period last year, the firm posted $2.21 earnings per share. On average, sell-side analysts anticipate that CVS Health will post 5.44 earnings per share for the current fiscal year.

Institutional Trading of CVS Health

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Pzena Investment Management LLC lifted its stake in shares of CVS Health by 132.9% in the second quarter. Pzena Investment Management LLC now owns 12,936,388 shares of the pharmacy operator’s stock valued at $764,023,000 after buying an additional 7,382,931 shares during the period. Capital International Investors boosted its holdings in CVS Health by 12.5% during the first quarter. Capital International Investors now owns 37,917,923 shares of the pharmacy operator’s stock valued at $3,024,334,000 after purchasing an additional 4,226,225 shares in the last quarter. Capital World Investors raised its holdings in shares of CVS Health by 8.0% in the 1st quarter. Capital World Investors now owns 43,776,874 shares of the pharmacy operator’s stock worth $3,491,643,000 after buying an additional 3,232,172 shares in the last quarter. Pathway Financial Advisers LLC boosted its stake in CVS Health by 5,864.2% in the 3rd quarter. Pathway Financial Advisers LLC now owns 1,730,343 shares of the pharmacy operator’s stock valued at $108,804,000 after buying an additional 1,701,331 shares in the last quarter. Finally, State of Michigan Retirement System raised its stake in CVS Health by 402.5% during the second quarter. State of Michigan Retirement System now owns 2,005,677 shares of the pharmacy operator’s stock worth $118,455,000 after acquiring an additional 1,606,500 shares in the last quarter. Institutional investors and hedge funds 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.