CVS Health Co. (NYSE:CVS) Shares Sold by Norden Group LLC

Norden Group LLC trimmed its position in CVS Health Co. (NYSE:CVS) by 9.8% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 6,170 shares of the pharmacy operator’s stock after selling 673 shares during the quarter. Norden Group LLC’s holdings in CVS Health were worth $487,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of CVS. Vanguard Group Inc. lifted its stake in CVS Health by 0.4% in the third quarter. Vanguard Group Inc. now owns 117,162,626 shares of the pharmacy operator’s stock valued at $8,180,295,000 after buying an additional 485,744 shares during the last quarter. FMR LLC raised its position in shares of CVS Health by 29.1% during the third quarter. FMR LLC now owns 27,487,238 shares of the pharmacy operator’s stock worth $1,919,159,000 after purchasing an additional 6,194,441 shares during the period. Northern Trust Corp boosted its holdings in shares of CVS Health by 2.2% in the third quarter. Northern Trust Corp now owns 14,214,296 shares of the pharmacy operator’s stock worth $992,442,000 after buying an additional 305,564 shares during the period. Royal Bank of Canada grew its position in CVS Health by 2.2% during the 3rd quarter. Royal Bank of Canada now owns 14,136,920 shares of the pharmacy operator’s stock worth $987,041,000 after purchasing an additional 303,512 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its stake in CVS Health by 2.6% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 12,717,825 shares of the pharmacy operator’s stock worth $864,821,000 after acquiring an additional 324,391 shares in the last quarter. Institutional investors and hedge funds own 80.66% of the company’s stock.

Insider Activity at CVS Health

In other news, EVP Prem S. Shah sold 29,473 shares of the firm’s stock in a transaction dated 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 in the company, valued at $3,059,916.75. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. 0.24% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several research analysts have weighed in on the company. Leerink Partnrs reaffirmed an “outperform” rating on shares of CVS Health in a research report on Monday, February 26th. Barclays began coverage on CVS Health in a research note on Wednesday, March 6th. They issued an “equal weight” rating and a $78.00 price objective on the stock. SVB Leerink started coverage on CVS Health in a report on Monday, February 26th. They set an “outperform” rating and a $88.00 target price on the stock. StockNews.com cut shares of CVS Health from a “buy” rating to a “hold” rating in a research report on Thursday, February 15th. Finally, Cantor Fitzgerald reiterated an “overweight” rating and set a $87.00 price target on shares of CVS Health in a research report on Wednesday, April 10th. Four investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, CVS Health presently has an average rating of “Moderate Buy” and a consensus price target of $89.44.

CVS Health Stock Up 0.4 %

Shares of NYSE CVS opened at $67.73 on Wednesday. The company has a debt-to-equity ratio of 0.77, a current ratio of 0.86 and a quick ratio of 0.63. CVS Health Co. has a one year low of $64.41 and a one year high of $83.25. The firm’s 50 day simple moving average is $74.05 and its two-hundred day simple moving average is $73.62. The stock has a market capitalization of $85.37 billion, a P/E ratio of 10.48, a PEG ratio of 0.89 and a beta of 0.52.

CVS Health (NYSE:CVS) last posted its earnings results on Wednesday, February 7th. The pharmacy operator reported $2.12 earnings per share for the quarter, topping analysts’ consensus estimates of $2.01 by $0.11. CVS Health had a net margin of 2.33% and a return on equity of 15.25%. The company had revenue of $93.81 billion during the quarter, compared to analyst estimates of $90.58 billion. During the same period in the prior year, the business posted $1.99 earnings per share. CVS Health’s revenue for the quarter was up 11.9% on a year-over-year basis. As a group, analysts expect that CVS Health Co. will post 8.31 EPS for the current fiscal year.

CVS Health Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 1st. Stockholders of record on Monday, April 22nd will be paid a $0.665 dividend. This represents a $2.66 annualized dividend and a dividend yield of 3.93%. The ex-dividend date of this dividend is Friday, April 19th. CVS Health’s dividend payout ratio (DPR) is presently 41.18%.

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.