Mystic Asset Management Inc. Has $977,000 Position in CVS Health Co. (NYSE:CVS)

Mystic Asset Management Inc. decreased its position in shares of CVS Health Co. (NYSE:CVS) by 5.0% during the 2nd quarter, Holdings Channel reports. The institutional investor owned 16,543 shares of the pharmacy operator’s stock after selling 863 shares during the quarter. Mystic Asset Management Inc.’s holdings in CVS Health were worth $977,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of the company. Norges Bank bought a new position in CVS Health in the fourth quarter valued at about $1,092,040,000. Capital International Investors grew its position in shares of CVS Health by 47.4% during the 4th quarter. Capital International Investors now owns 33,691,698 shares of the pharmacy operator’s stock worth $2,660,298,000 after buying an additional 10,837,801 shares during the period. Pzena Investment Management LLC raised its stake in shares of CVS Health by 132.9% during the second quarter. Pzena Investment Management LLC now owns 12,936,388 shares of the pharmacy operator’s stock worth $764,023,000 after buying an additional 7,382,931 shares during the last quarter. Capital World Investors lifted its holdings in CVS Health by 8.0% in the first quarter. Capital World Investors now owns 43,776,874 shares of the pharmacy operator’s stock valued at $3,491,643,000 after buying an additional 3,232,172 shares during the period. Finally, Clearbridge Investments LLC grew its holdings in CVS Health by 306.6% during the 4th quarter. Clearbridge Investments LLC now owns 3,046,216 shares of the pharmacy operator’s stock worth $240,529,000 after acquiring an additional 2,297,100 shares during the period. 80.66% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on the company. Robert W. Baird initiated coverage on CVS Health in a research report on Thursday, May 30th. They issued a “neutral” rating and a $61.00 price target on the stock. Deutsche Bank Aktiengesellschaft lowered their price target on CVS Health from $64.00 to $63.00 and set a “hold” rating for the company in a research note on Friday, August 9th. Baird R W upgraded shares of CVS Health to a “hold” rating in a report on Thursday, May 30th. Evercore ISI reduced their price target on shares of CVS Health from $65.00 to $62.00 and set an “outperform” rating on the stock in a research report on Thursday, August 8th. Finally, Barclays lowered their price objective on shares of CVS Health from $65.00 to $63.00 and set an “equal weight” rating for the company in a research report on Thursday, August 8th. Eleven investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to data from MarketBeat, CVS Health presently has an average rating of “Moderate Buy” and a consensus price target of $72.10.

CVS Health Price Performance

NYSE CVS opened at $57.98 on Friday. CVS Health Co. has a 12-month low of $52.77 and a 12-month high of $83.25. The firm’s 50 day moving average is $58.28 and its 200-day moving average is $63.08. The company has a market capitalization of $72.94 billion, a PE ratio of 10.19, a price-to-earnings-growth ratio of 0.79 and a beta of 0.53. The company has a quick ratio of 0.66, a current ratio of 0.86 and a debt-to-equity ratio of 0.83.

CVS Health (NYSE:CVS) last posted its quarterly earnings data on Wednesday, August 7th. The pharmacy operator reported $1.83 EPS for the quarter, topping analysts’ consensus estimates of $1.73 by $0.10. The company had revenue of $91.23 billion during the quarter, compared to the consensus estimate of $91.41 billion. CVS Health had a net margin of 1.98% and a return on equity of 12.72%. The company’s quarterly revenue was up 2.6% on a year-over-year basis. During the same period in the prior year, the business posted $2.21 EPS. Equities research analysts anticipate that CVS Health Co. will post 6.51 earnings per share for the current fiscal year.

CVS Health Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, August 1st. Stockholders of record on Monday, July 22nd were issued a $0.665 dividend. This represents a $2.66 annualized dividend and a dividend yield of 4.59%. The ex-dividend date was Monday, July 22nd. CVS Health’s payout ratio is presently 46.75%.

CVS Health 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.