Carl P. Sherr & Co. LLC Cuts Stock Position in CVS Health Co. (NYSE:CVS)

Carl P. Sherr & Co. LLC cut its holdings in CVS Health Co. (NYSE:CVS) by 13.0% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 3,802 shares of the pharmacy operator’s stock after selling 570 shares during the quarter. Carl P. Sherr & Co. LLC’s holdings in CVS Health were worth $300,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Live Oak Investment Partners purchased a new position in shares of CVS Health in the fourth quarter valued at $25,000. Atticus Wealth Management LLC boosted its stake in CVS Health by 149.0% during the fourth quarter. Atticus Wealth Management LLC now owns 366 shares of the pharmacy operator’s stock worth $29,000 after buying an additional 219 shares during the period. Cornerstone Planning Group LLC boosted its stake in CVS Health by 111.5% during the third quarter. Cornerstone Planning Group LLC now owns 461 shares of the pharmacy operator’s stock worth $32,000 after buying an additional 243 shares during the period. ZRC Wealth Management LLC boosted its stake in CVS Health by 400.0% during the fourth quarter. ZRC Wealth Management LLC now owns 500 shares of the pharmacy operator’s stock worth $39,000 after buying an additional 400 shares during the period. Finally, True Wealth Design LLC purchased a new position in CVS Health during the fourth quarter worth $48,000. 80.66% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research firms have commented on CVS. Leerink Partnrs reaffirmed an “outperform” rating on shares of CVS Health in a research note on Monday, February 26th. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $87.00 price objective on shares of CVS Health in a research note on Wednesday, April 10th. Royal Bank of Canada decreased their target price on CVS Health from $86.00 to $84.00 and set an “outperform” rating for the company in a research report on Thursday, February 8th. SVB Leerink initiated coverage on CVS Health in a research report on Monday, February 26th. They set an “outperform” rating and a $88.00 target price for the company. Finally, Wells Fargo & Company decreased their target price on CVS Health from $83.00 to $76.00 and set an “equal weight” rating for the company in a research report on Monday, April 8th. Four analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $89.44.

Insider Buying and Selling at CVS Health

In other CVS Health news, EVP Prem S. Shah sold 29,473 shares of the stock in a transaction dated Friday, February 16th. The shares were sold at an average price of $76.95, for a total transaction of $2,267,947.35. Following the completion of the sale, the executive vice president now directly owns 39,765 shares of the company’s stock, valued at $3,059,916.75. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 0.24% of the company’s stock.

CVS Health Stock Up 0.1 %

Shares of CVS stock traded up $0.07 on Wednesday, hitting $69.03. The stock had a trading volume of 9,607,388 shares, compared to its average volume of 8,555,254. The company has a quick ratio of 0.63, a current ratio of 0.86 and a debt-to-equity ratio of 0.77. The business has a 50 day moving average price of $75.68 and a 200 day moving average price of $73.77. The company has a market cap of $87.01 billion, a PE ratio of 10.69, a P/E/G ratio of 0.91 and a beta of 0.52. CVS Health Co. has a one year low of $64.41 and a one year high of $83.25.

CVS Health (NYSE:CVS) last released its quarterly earnings data on Wednesday, February 7th. The pharmacy operator reported $2.12 earnings per share for the quarter, beating the consensus estimate of $2.01 by $0.11. The firm had revenue of $93.81 billion during the quarter, compared to the consensus estimate of $90.58 billion. CVS Health had a return on equity of 15.25% and a net margin of 2.33%. The firm’s quarterly revenue was up 11.9% on a year-over-year basis. During the same period in the previous year, the company posted $1.99 earnings per share. Research analysts anticipate that CVS Health Co. will post 8.32 earnings per share for the current fiscal year.

CVS Health Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, May 1st. Shareholders of record on Monday, April 22nd will be given a dividend of $0.665 per share. This represents a $2.66 annualized dividend and a dividend yield of 3.85%. The ex-dividend date is Friday, April 19th. CVS Health’s payout ratio is 41.18%.

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.