CVS Health Co. (NYSE:CVS) Position Reduced by Lowe Brockenbrough & Co. Inc.

Lowe Brockenbrough & Co. Inc. lowered its stake in CVS Health Co. (NYSE:CVS) by 42.0% in the 3rd quarter, according to its most recent filing with the SEC. The fund owned 55,896 shares of the pharmacy operator’s stock after selling 40,451 shares during the period. Lowe Brockenbrough & Co. Inc.’s holdings in CVS Health were worth $3,515,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of the stock. Cullinan Associates Inc. raised its stake in CVS Health by 43.8% during the third quarter. Cullinan Associates Inc. now owns 122,682 shares of the pharmacy operator’s stock valued at $7,125,000 after buying an additional 37,395 shares in the last quarter. Deerfield Management Company L.P. Series C acquired a new stake in shares of CVS Health during the 2nd quarter valued at approximately $57,584,000. CX Institutional lifted its stake in CVS Health by 698.0% during the third quarter. CX Institutional now owns 74,609 shares of the pharmacy operator’s stock worth $4,691,000 after purchasing an additional 65,259 shares during the last quarter. Susquehanna Fundamental Investments LLC increased its stake in CVS Health by 27.9% during the second quarter. Susquehanna Fundamental Investments LLC now owns 665,451 shares of the pharmacy operator’s stock valued at $39,302,000 after purchasing an additional 145,158 shares during the last quarter. Finally, AustralianSuper Pty Ltd raised its holdings in shares of CVS Health by 11.0% during the third quarter. AustralianSuper Pty Ltd now owns 1,537,791 shares of the pharmacy operator’s stock worth $96,696,000 after purchasing an additional 151,901 shares during the period. Institutional investors own 80.66% of the company’s stock.

CVS Health Trading Down 1.2 %

Shares of CVS Health stock opened at $55.81 on Friday. The business has a fifty day simple moving average of $59.66 and a 200-day simple moving average of $59.62. CVS Health Co. has a fifty-two week low of $52.77 and a fifty-two week high of $83.25. The firm has a market cap of $70.21 billion, a price-to-earnings ratio of 9.93, a price-to-earnings-growth ratio of 0.83 and a beta of 0.54. 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 earnings per share for the quarter, beating the consensus estimate of $1.73 by $0.10. CVS Health had a net margin of 1.98% and a return on equity of 12.72%. The company had revenue of $91.23 billion during the quarter, compared to analyst estimates of $91.41 billion. During the same quarter last year, the firm posted $2.21 EPS. The business’s revenue for the quarter was up 2.6% on a year-over-year basis. On average, equities analysts forecast that CVS Health Co. will post 6.41 EPS for the current fiscal year.

CVS Health Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, November 1st. Shareholders of record on Monday, October 21st were issued a $0.665 dividend. The ex-dividend date of this dividend was Monday, October 21st. This represents a $2.66 annualized dividend and a dividend yield of 4.77%. CVS Health’s dividend payout ratio is currently 47.33%.

Analyst Ratings Changes

CVS has been the subject of several research reports. Deutsche Bank Aktiengesellschaft decreased their price target on shares of CVS Health from $64.00 to $63.00 and set a “hold” rating for the company in a report on Friday, August 9th. Barclays dropped their price target on CVS Health from $82.00 to $75.00 and set an “overweight” rating on the stock in a research report on Wednesday, October 23rd. Royal Bank of Canada restated an “outperform” rating and set a $68.00 price objective on shares of CVS Health in a research report on Wednesday, September 4th. Evercore ISI raised their target price on CVS Health from $62.00 to $75.00 and gave the company an “outperform” rating in a research note on Tuesday, October 8th. Finally, Cantor Fitzgerald reissued a “neutral” rating and set a $62.00 price target on shares of CVS Health in a report on Tuesday, October 1st. Nine research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to MarketBeat.com, CVS Health has an average rating of “Moderate Buy” and an average price target of $74.58.

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.