Pine Valley Investments Ltd Liability Co Sells 4,144 Shares of CVS Health Co. (NYSE:CVS)

Pine Valley Investments Ltd Liability Co lowered its holdings in CVS Health Co. (NYSE:CVS) by 16.6% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 20,751 shares of the pharmacy operator’s stock after selling 4,144 shares during the quarter. Pine Valley Investments Ltd Liability Co’s holdings in CVS Health were worth $1,305,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also bought and sold shares of CVS. Garland Capital Management Inc. lifted its position in CVS Health by 0.3% during the second quarter. Garland Capital Management Inc. now owns 60,810 shares of the pharmacy operator’s stock valued at $3,591,000 after acquiring an additional 160 shares during the last quarter. Sound Income Strategies LLC lifted its holdings in shares of CVS Health by 7.2% during the 3rd quarter. Sound Income Strategies LLC now owns 2,397 shares of the pharmacy operator’s stock valued at $151,000 after purchasing an additional 162 shares during the last quarter. Plimoth Trust Co. LLC boosted its position in shares of CVS Health by 0.4% in the 2nd quarter. Plimoth Trust Co. LLC now owns 46,637 shares of the pharmacy operator’s stock worth $2,754,000 after purchasing an additional 174 shares in the last quarter. Hexagon Capital Partners LLC grew its stake in CVS Health by 3.5% during the 3rd quarter. Hexagon Capital Partners LLC now owns 5,268 shares of the pharmacy operator’s stock worth $331,000 after buying an additional 178 shares during the last quarter. Finally, Pallas Capital Advisors LLC increased its position in CVS Health by 2.5% during the 2nd quarter. Pallas Capital Advisors LLC now owns 7,458 shares of the pharmacy operator’s stock valued at $447,000 after buying an additional 183 shares in the last quarter. Institutional investors own 80.66% of the company’s stock.

CVS Health Price Performance

CVS stock opened at $49.59 on Friday. CVS Health Co. has a 1 year low of $49.47 and a 1 year high of $83.25. The firm has a market capitalization of $62.40 billion, a PE ratio of 12.59, a price-to-earnings-growth ratio of 0.89 and a beta of 0.54. The company has a debt-to-equity ratio of 0.80, a current ratio of 0.80 and a quick ratio of 0.59. The business has a 50 day simple moving average of $58.61 and a 200-day simple moving average of $58.68.

CVS Health (NYSE:CVS) last released its quarterly earnings data on Wednesday, November 6th. The pharmacy operator reported $1.09 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.08 by $0.01. CVS Health had a net margin of 1.36% and a return on equity of 10.72%. The firm had revenue of $95.43 billion during the quarter, compared to analysts’ expectations of $92.72 billion. During the same period last year, the business earned $2.21 earnings per share. CVS Health’s revenue was up 6.3% compared to the same quarter last year. Equities research analysts anticipate that CVS Health Co. will post 5.32 earnings per share for the current fiscal year.

CVS Health Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, November 1st. Stockholders of record on Monday, October 21st were paid a $0.665 dividend. The ex-dividend date was Monday, October 21st. This represents a $2.66 dividend on an annualized basis and a dividend yield of 5.36%. CVS Health’s payout ratio is presently 67.51%.

Analysts Set New Price Targets

CVS has been the topic of several research reports. UBS Group upped their target price on CVS Health from $60.00 to $62.00 and gave the company a “neutral” rating in a research report on Thursday, November 7th. Wells Fargo & Company upgraded CVS Health from an “equal weight” rating to an “overweight” rating and raised their price objective for the stock from $60.00 to $66.00 in a research note on Monday, November 18th. TD Cowen raised their price target on shares of CVS Health from $73.00 to $80.00 and gave the stock a “buy” rating in a research report on Monday, November 25th. Piper Sandler dropped their price objective on shares of CVS Health from $72.00 to $64.00 and set an “overweight” rating on the stock in a report on Monday, November 25th. Finally, Mizuho reduced their target price on shares of CVS Health from $73.00 to $66.00 and set an “outperform” rating for the company in a report on Thursday, October 24th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and fourteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $70.50.

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.