Cardinal Capital Management Inc. Sells 1,425 Shares of CVS Health Co. (NYSE:CVS)

Cardinal Capital Management Inc. reduced its position in CVS Health Co. (NYSE:CVS) by 9.5% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 13,605 shares of the pharmacy operator’s stock after selling 1,425 shares during the quarter. Cardinal Capital Management Inc.’s holdings in CVS Health were worth $611,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently made changes to their positions in CVS. SG Americas Securities LLC lifted its holdings in CVS Health by 47.2% during the fourth quarter. SG Americas Securities LLC now owns 28,801 shares of the pharmacy operator’s stock valued at $1,293,000 after purchasing an additional 9,234 shares during the last quarter. Perfromance Wealth Partners LLC purchased a new stake in shares of CVS Health during the 4th quarter valued at approximately $475,000. Fort Washington Investment Advisors Inc. OH boosted its holdings in CVS Health by 17.6% in the 4th quarter. Fort Washington Investment Advisors Inc. OH now owns 1,089,654 shares of the pharmacy operator’s stock worth $48,915,000 after buying an additional 163,148 shares during the period. Ballentine Partners LLC raised its holdings in CVS Health by 17.5% during the 4th quarter. Ballentine Partners LLC now owns 5,314 shares of the pharmacy operator’s stock valued at $239,000 after acquiring an additional 793 shares during the period. Finally, LaFleur & Godfrey LLC lifted its position in shares of CVS Health by 49.9% during the fourth quarter. LaFleur & Godfrey LLC now owns 4,836 shares of the pharmacy operator’s stock worth $217,000 after acquiring an additional 1,610 shares in the last quarter. 80.66% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

CVS has been the topic of several analyst reports. Piper Sandler decreased their price target on CVS Health from $72.00 to $64.00 and set an “overweight” rating on the stock in a research report on Monday, November 25th. Royal Bank of Canada dropped their target price on CVS Health from $68.00 to $58.00 and set an “outperform” rating for the company in a research report on Friday, November 15th. Deutsche Bank Aktiengesellschaft raised CVS Health from a “hold” rating to a “buy” rating and set a $66.00 price objective for the company in a research note on Tuesday, December 3rd. UBS Group raised their price target on shares of CVS Health from $60.00 to $62.00 and gave the stock a “neutral” rating in a report on Thursday, November 7th. Finally, StockNews.com lowered CVS Health from a “hold” rating to a “sell” rating in a research report on Thursday, November 14th. One research analyst has rated the stock with a sell rating, six have given a hold rating and thirteen have given a buy rating to the stock. According to MarketBeat, CVS Health has a consensus rating of “Moderate Buy” and a consensus price target of $68.71.

CVS Health Trading Down 0.2 %

NYSE:CVS opened at $53.05 on Thursday. The business has a fifty day moving average price of $51.23 and a 200-day moving average price of $56.24. CVS Health Co. has a one year low of $43.56 and a one year high of $80.75. 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 firm has a market capitalization of $66.76 billion, a price-to-earnings ratio of 13.46, a price-to-earnings-growth ratio of 0.80 and a beta of 0.59.

CVS Health (NYSE:CVS) last announced its quarterly earnings data on Wednesday, November 6th. The pharmacy operator reported $1.09 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.08 by $0.01. CVS Health had a return on equity of 10.72% and a net margin of 1.36%. The company had revenue of $95.43 billion during the quarter, compared to the consensus estimate of $92.72 billion. During the same period in the previous year, the company posted $2.21 EPS. The firm’s revenue was up 6.3% on a year-over-year basis. Sell-side analysts forecast that CVS Health Co. will post 5.22 EPS for the current year.

CVS Health Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, February 3rd. Shareholders of record on Thursday, January 23rd will be paid a $0.665 dividend. The ex-dividend date of this dividend is Thursday, January 23rd. This represents a $2.66 dividend on an annualized basis and a yield of 5.01%. CVS Health’s payout ratio is presently 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.