CVS Health Co. (NYSE:CVS) Holdings Trimmed by Northeast Investment Management

Northeast Investment Management decreased its holdings in shares of CVS Health Co. (NYSE:CVS) by 62.8% in the 4th quarter, HoldingsChannel.com reports. The firm owned 7,789 shares of the pharmacy operator’s stock after selling 13,162 shares during the period. Northeast Investment Management’s holdings in CVS Health were worth $350,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in the business. Assetmark Inc. raised its position in shares of CVS Health by 9.7% during the third quarter. Assetmark Inc. now owns 410,001 shares of the pharmacy operator’s stock worth $25,781,000 after purchasing an additional 36,132 shares during the period. TD Private Client Wealth LLC increased its position in shares of CVS Health by 28.7% in the third quarter. TD Private Client Wealth LLC now owns 46,938 shares of the pharmacy operator’s stock worth $2,951,000 after acquiring an additional 10,465 shares in the last quarter. Cullinan Associates Inc. lifted its position in shares of CVS Health by 43.8% in the 3rd quarter. Cullinan Associates Inc. now owns 122,682 shares of the pharmacy operator’s stock valued at $7,125,000 after acquiring an additional 37,395 shares in the last quarter. Principal Financial Group Inc. grew its position in CVS Health by 4.8% during the 3rd quarter. Principal Financial Group Inc. now owns 1,434,476 shares of the pharmacy operator’s stock worth $90,200,000 after purchasing an additional 66,244 shares in the last quarter. Finally, Sompo Asset Management Co. Ltd. raised its stake in CVS Health by 8.4% during the 3rd quarter. Sompo Asset Management Co. Ltd. now owns 134,523 shares of the pharmacy operator’s stock valued at $8,459,000 after purchasing an additional 10,453 shares during the period. 80.66% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have commented on the company. Evercore ISI boosted their target price on CVS Health from $60.00 to $65.00 and gave the company an “outperform” rating in a research note on Monday, January 27th. Deutsche Bank Aktiengesellschaft upgraded shares of CVS Health from a “hold” rating to a “buy” rating and set a $66.00 target price for the company in a research note on Tuesday, December 3rd. Barclays cut their price target on shares of CVS Health from $75.00 to $71.00 and set an “overweight” rating on the stock in a report on Thursday, November 7th. TD Cowen increased their target price 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. Finally, Wells Fargo & Company raised CVS Health from an “equal weight” rating to an “overweight” rating and boosted their price target for the stock from $60.00 to $66.00 in a research report on Monday, November 18th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and fourteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $68.12.

CVS Health Price Performance

NYSE:CVS opened at $53.95 on Friday. The company has a debt-to-equity ratio of 0.80, a quick ratio of 0.59 and a current ratio of 0.80. The firm has a market cap of $67.90 billion, a price-to-earnings ratio of 13.69, a P/E/G ratio of 0.60 and a beta of 0.61. CVS Health Co. has a 52 week low of $43.56 and a 52 week high of $80.75. The firm’s 50-day simple moving average is $50.79 and its 200 day simple moving average is $56.01.

CVS Health (NYSE:CVS) last announced its quarterly earnings data on Wednesday, November 6th. The pharmacy operator reported $1.09 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 for the quarter, compared to the consensus estimate of $92.72 billion. During the same period in the prior year, the company posted $2.21 earnings per share. The business’s revenue for the quarter was up 6.3% on a year-over-year basis. As a group, sell-side analysts predict that CVS Health Co. will post 5.14 earnings per share for the current year.

CVS Health Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, February 3rd. Stockholders of record on Thursday, January 23rd were paid a $0.665 dividend. The ex-dividend date of this dividend was Thursday, January 23rd. This represents a $2.66 dividend on an annualized basis and a dividend yield of 4.93%. CVS Health’s payout ratio is currently 67.51%.

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.