Mackenzie Financial Corp Sells 12,814 Shares of CVS Health Co. (NYSE:CVS)

Mackenzie Financial Corp lowered its stake in shares of CVS Health Co. (NYSE:CVS) by 1.7% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 745,974 shares of the pharmacy operator’s stock after selling 12,814 shares during the quarter. Mackenzie Financial Corp owned 0.06% of CVS Health worth $58,902,000 at the end of the most recent quarter.

Other institutional investors have also bought and sold shares of the company. Bryn Mawr Capital Management LLC boosted its position in CVS Health by 74.0% in the third quarter. Bryn Mawr Capital Management LLC now owns 43,213 shares of the pharmacy operator’s stock worth $3,017,000 after purchasing an additional 18,385 shares during the last quarter. Value Partners Investments Inc. boosted its position in CVS Health by 26.5% in the third quarter. Value Partners Investments Inc. now owns 991,601 shares of the pharmacy operator’s stock worth $69,261,000 after purchasing an additional 207,702 shares during the last quarter. Sonora Investment Management Group LLC boosted its position in CVS Health by 1.6% in the third quarter. Sonora Investment Management Group LLC now owns 50,488 shares of the pharmacy operator’s stock worth $3,525,000 after purchasing an additional 774 shares during the last quarter. Checchi Capital Advisers LLC boosted its position in CVS Health by 2.3% in the third quarter. Checchi Capital Advisers LLC now owns 10,405 shares of the pharmacy operator’s stock worth $726,000 after purchasing an additional 233 shares during the last quarter. Finally, Personal CFO Solutions LLC lifted its position in shares of CVS Health by 2.6% during the 3rd quarter. Personal CFO Solutions LLC now owns 19,355 shares of the pharmacy operator’s stock valued at $1,351,000 after buying an additional 491 shares during the last quarter. Institutional investors own 80.66% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on CVS shares. Wells Fargo & Company dropped their price target on CVS Health from $83.00 to $76.00 and set an “equal weight” rating on the stock in a research report on Monday, April 8th. Leerink Partnrs reaffirmed an “outperform” rating on shares of CVS Health in a research report on Monday, February 26th. StockNews.com cut CVS Health from a “buy” rating to a “hold” rating in a research report on Thursday, February 15th. Barclays began coverage on CVS Health in a research note on Wednesday, March 6th. They set an “equal weight” rating and a $78.00 price objective on the stock. Finally, SVB Leerink began coverage on CVS Health in a research note on Monday, February 26th. They set an “outperform” rating and a $88.00 price objective on the stock. Four research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $89.44.

Insider Activity at CVS Health

In related news, EVP Prem S. Shah sold 29,473 shares of the firm’s stock in a transaction that occurred on Friday, February 16th. The stock was sold at an average price of $76.95, for a total transaction of $2,267,947.35. Following the completion of the transaction, the executive vice president now owns 39,765 shares of the company’s stock, valued at approximately $3,059,916.75. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 0.24% of the stock is currently owned by company insiders.

CVS Health Price Performance

Shares of CVS Health stock opened at $69.03 on Wednesday. The company has a current ratio of 0.86, a quick ratio of 0.63 and a debt-to-equity ratio of 0.77. The firm has a market capitalization of $87.01 billion, a PE ratio of 10.69, a price-to-earnings-growth ratio of 0.91 and a beta of 0.52. The business’s 50-day moving average price is $75.68 and its 200-day moving average price is $73.77. CVS Health Co. has a 12 month low of $64.41 and a 12 month high of $83.25.

CVS Health (NYSE:CVS) last issued its earnings results 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 company had revenue of $93.81 billion during the quarter, compared to analysts’ expectations of $90.58 billion. CVS Health had a return on equity of 15.25% and a net margin of 2.33%. CVS Health’s quarterly revenue was up 11.9% compared to the same quarter last year. During the same period in the prior year, the business posted $1.99 EPS. Sell-side analysts forecast that CVS Health Co. will post 8.32 EPS for the current fiscal year.

CVS Health Dividend Announcement

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

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.