CVS Health Co. (NYSE:CVS) Shares Sold by SFE Investment Counsel

SFE Investment Counsel cut its holdings in CVS Health Co. (NYSE:CVS) by 62.4% during the third quarter, HoldingsChannel reports. The firm owned 5,691 shares of the pharmacy operator’s stock after selling 9,439 shares during the period. SFE Investment Counsel’s holdings in CVS Health were worth $358,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in CVS. Pzena Investment Management LLC boosted its holdings 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 acquiring an additional 7,382,931 shares in the last quarter. Capital International Investors lifted its position in shares of CVS Health by 12.5% during the 1st quarter. Capital International Investors now owns 37,917,923 shares of the pharmacy operator’s stock valued at $3,024,334,000 after acquiring an additional 4,226,225 shares during the period. Capital World Investors raised its holdings in CVS Health by 8.0% during the first quarter. Capital World Investors now owns 43,776,874 shares of the pharmacy operator’s stock worth $3,491,643,000 after purchasing an additional 3,232,172 shares during the last quarter. Pathway Financial Advisers LLC boosted its position in shares of 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 worth $108,804,000 after buying an additional 1,701,331 shares in the last quarter. Finally, State of Michigan Retirement System lifted its holdings in shares of CVS Health by 402.5% in the second quarter. State of Michigan Retirement System now owns 2,005,677 shares of the pharmacy operator’s stock valued at $118,455,000 after purchasing an additional 1,606,500 shares in the last quarter. Hedge funds and other institutional investors own 80.66% of the company’s stock.

CVS Health Trading Up 1.5 %

Shares of CVS opened at $57.36 on Tuesday. The stock has a 50-day moving average price of $59.79 and a 200 day moving average price of $59.76. CVS Health Co. has a one year low of $52.77 and a one year high of $83.25. The company has a market capitalization of $72.01 billion, a P/E ratio of 10.08, a P/E/G ratio of 0.84 and a beta of 0.54. The company has a debt-to-equity ratio of 0.83, a quick ratio of 0.66 and a current ratio of 0.86.

CVS Health (NYSE:CVS) last announced its quarterly earnings results on Wednesday, August 7th. The pharmacy operator reported $1.83 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.73 by $0.10. CVS Health had a return on equity of 12.72% and a net margin of 1.98%. The business had revenue of $91.23 billion for the quarter, compared to the consensus estimate of $91.41 billion. During the same quarter last year, the business posted $2.21 EPS. The business’s revenue was up 2.6% on a year-over-year basis. Sell-side analysts forecast that CVS Health Co. will post 6.41 EPS for the current fiscal year.

CVS Health Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 1st. Investors of record on Monday, October 21st will be given a $0.665 dividend. This represents a $2.66 annualized dividend and a yield of 4.64%. The ex-dividend date is Monday, October 21st. CVS Health’s dividend payout ratio is currently 46.75%.

Analyst Ratings Changes

A number of research firms have recently weighed in on CVS. Barclays cut their price target on CVS Health from $82.00 to $75.00 and set an “overweight” rating for the company in a report on Wednesday, October 23rd. Mizuho decreased their price target on CVS Health from $73.00 to $66.00 and set an “outperform” rating on the stock in a research note on Thursday, October 24th. Deutsche Bank Aktiengesellschaft dropped their price objective on shares of CVS Health from $64.00 to $63.00 and set a “hold” rating for the company in a research note on Friday, August 9th. Evercore ISI lifted their price target on shares of CVS Health from $62.00 to $75.00 and gave the company an “outperform” rating in a report on Tuesday, October 8th. Finally, Cantor Fitzgerald reaffirmed a “neutral” rating and issued a $62.00 target price on shares of CVS Health in a research report on Tuesday, October 1st. Nine equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to MarketBeat.com, CVS Health has a consensus rating of “Moderate Buy” and a consensus price target of $74.58.

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.