MAI Capital Management Trims Stock Position in CVS Health Co. (NYSE:CVS)

MAI Capital Management decreased its position in CVS Health Co. (NYSE:CVS) by 22.5% in the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 55,154 shares of the pharmacy operator’s stock after selling 16,051 shares during the period. MAI Capital Management’s holdings in CVS Health were worth $3,468,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of CVS. Livelsberger Financial Advisory purchased a new position in shares of CVS Health during the third quarter valued at $31,000. Crewe Advisors LLC purchased a new position in CVS Health during the 1st quarter valued at about $40,000. Reston Wealth Management LLC bought a new stake in shares of CVS Health in the 3rd quarter valued at about $32,000. Kathleen S. Wright Associates Inc. purchased a new stake in shares of CVS Health in the 3rd quarter worth approximately $33,000. Finally, First Community Trust NA boosted its stake in shares of CVS Health by 116.2% during the second quarter. First Community Trust NA now owns 562 shares of the pharmacy operator’s stock valued at $33,000 after purchasing an additional 302 shares in the last quarter. 80.66% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several analysts have issued reports on CVS shares. Mizuho dropped their target price on CVS Health from $73.00 to $66.00 and set an “outperform” rating on the stock in a research report on Thursday, October 24th. Cantor Fitzgerald reiterated a “neutral” rating and issued a $62.00 target price on shares of CVS Health in a research note on Tuesday, October 1st. Barclays cut their price objective on shares of CVS Health from $75.00 to $71.00 and set an “overweight” rating on the stock in a research report on Thursday, November 7th. StockNews.com downgraded shares of CVS Health from a “hold” rating to a “sell” rating in a research note on Thursday, November 14th. Finally, Evercore ISI upped their price target on CVS Health from $62.00 to $75.00 and gave the stock an “outperform” rating in a research report on Tuesday, October 8th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and thirteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $72.78.

CVS Health Stock Down 0.4 %

NYSE:CVS opened at $55.82 on Wednesday. The company has a debt-to-equity ratio of 0.80, a current ratio of 0.80 and a quick ratio of 0.59. The company’s fifty day moving average price is $59.18 and its 200-day moving average price is $58.60. CVS Health Co. has a 1-year low of $52.71 and a 1-year high of $83.25. The firm has a market capitalization of $70.24 billion, a P/E ratio of 14.17, a PEG ratio of 0.92 and a beta of 0.55.

CVS Health (NYSE:CVS) last announced its quarterly 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 company had revenue of $95.43 billion for the quarter, compared to the consensus estimate of $92.72 billion. CVS Health had a return on equity of 10.72% and a net margin of 1.36%. The firm’s revenue for the quarter was up 6.3% compared to the same quarter last year. During the same period last year, the firm earned $2.21 EPS. As a group, equities research analysts anticipate that CVS Health Co. will post 5.48 EPS for the current year.

CVS Health Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, November 1st. Investors of record on Monday, October 21st were paid a $0.665 dividend. This represents a $2.66 annualized dividend and a dividend yield of 4.77%. The ex-dividend date was Monday, October 21st. CVS Health’s dividend payout ratio is currently 67.51%.

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.