CVS Health Co. (NYSE:CVS) Stock Position Reduced by Bank of Montreal Can

Bank of Montreal Can trimmed its position in CVS Health Co. (NYSE:CVS) by 5.1% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 2,312,880 shares of the pharmacy operator’s stock after selling 123,463 shares during the quarter. Bank of Montreal Can owned approximately 0.18% of CVS Health worth $141,965,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also made changes to their positions in the company. MidAtlantic Capital Management Inc. acquired a new stake in shares of CVS Health during the third quarter worth $25,000. Livelsberger Financial Advisory bought a new position in CVS Health in the third quarter worth about $31,000. Reston Wealth Management LLC acquired a new position in CVS Health in the third quarter valued at approximately $32,000. Kathleen S. Wright Associates Inc. bought a new position in shares of CVS Health during the third quarter valued at approximately $33,000. Finally, First Community Trust NA lifted its holdings in shares of CVS Health by 116.2% in the 2nd quarter. First Community Trust NA now owns 562 shares of the pharmacy operator’s stock worth $33,000 after purchasing an additional 302 shares during the last quarter. 80.66% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

CVS has been the subject of a number of recent research reports. TD Cowen upped their price objective on CVS Health from $73.00 to $80.00 and gave the stock a “buy” rating in a research note on Monday. Barclays lowered their price target on shares of CVS Health from $75.00 to $71.00 and set an “overweight” rating for the company in a research report on Thursday, November 7th. Piper Sandler reduced their target price on shares of CVS Health from $72.00 to $64.00 and set an “overweight” rating for the company in a research note on Monday. Royal Bank of Canada dropped their price target on shares of CVS Health from $68.00 to $58.00 and set an “outperform” rating on the stock in a research note on Friday, November 15th. Finally, Truist Financial reiterated a “buy” rating and set a $67.00 price objective (down from $76.00) on shares of CVS Health in a research report on Wednesday, November 20th. One analyst has rated the stock with a sell rating, seven have given a hold rating and thirteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $70.33.

CVS Health Stock Performance

Shares of NYSE CVS opened at $60.10 on Tuesday. CVS Health Co. has a 52-week low of $52.71 and a 52-week high of $83.25. The stock has a market capitalization of $75.63 billion, a price-to-earnings ratio of 15.25, a PEG ratio of 0.98 and a beta of 0.55. The company has a quick ratio of 0.59, a current ratio of 0.80 and a debt-to-equity ratio of 0.80. The stock’s fifty day simple moving average is $59.25 and its 200 day simple moving average is $58.67.

CVS Health (NYSE:CVS) last posted its quarterly earnings data on Wednesday, November 6th. The pharmacy operator reported $1.09 EPS for the quarter, beating analysts’ consensus estimates of $1.08 by $0.01. The company had revenue of $95.43 billion during the quarter, compared to analyst estimates of $92.72 billion. CVS Health had a net margin of 1.36% and a return on equity of 10.72%. The business’s quarterly revenue was up 6.3% on a year-over-year basis. During the same period in the prior year, the firm earned $2.21 earnings per share. As a group, sell-side analysts forecast that CVS Health Co. will post 5.43 earnings per share for the current fiscal year.

CVS Health Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, November 1st. Shareholders of record on Monday, October 21st were paid a dividend of $0.665 per share. This represents a $2.66 annualized dividend and a yield of 4.43%. The ex-dividend date was Monday, October 21st. CVS Health’s dividend payout ratio (DPR) is currently 67.51%.

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.