Robeco Institutional Asset Management B.V. Cuts Position in CVS Health Co. (NYSE:CVS)

Robeco Institutional Asset Management B.V. cut its stake in shares of CVS Health Co. (NYSE:CVS) by 3.4% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 470,297 shares of the pharmacy operator’s stock after selling 16,681 shares during the quarter. Robeco Institutional Asset Management B.V.’s holdings in CVS Health were worth $29,572,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently made changes to their positions in CVS. Garland Capital Management Inc. increased its holdings in CVS Health by 0.3% in the second quarter. Garland Capital Management Inc. now owns 60,810 shares of the pharmacy operator’s stock valued at $3,591,000 after buying an additional 160 shares in the last quarter. Sound Income Strategies LLC increased its stake in CVS Health by 7.2% in 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 in the last quarter. Plimoth Trust Co. LLC raised its holdings in CVS Health by 0.4% during the second 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 during the last quarter. Hexagon Capital Partners LLC boosted its position in CVS Health by 3.5% during the third quarter. Hexagon Capital Partners LLC now owns 5,268 shares of the pharmacy operator’s stock worth $331,000 after purchasing an additional 178 shares in the last quarter. Finally, Pallas Capital Advisors LLC grew its holdings in CVS Health by 2.5% in the second quarter. Pallas Capital Advisors LLC now owns 7,458 shares of the pharmacy operator’s stock valued at $447,000 after purchasing an additional 183 shares during the last quarter. Institutional investors and hedge funds own 80.66% of the company’s stock.

CVS Health Trading Up 1.2 %

CVS stock opened at $55.33 on Wednesday. The business has a fifty day simple moving average of $59.51 and a 200-day simple moving average of $59.29. The company has a market cap of $69.60 billion, a price-to-earnings ratio of 9.85, a PEG ratio of 0.82 and a beta of 0.55. The company has a quick ratio of 0.66, a current ratio of 0.86 and a debt-to-equity ratio of 0.83. CVS Health Co. has a 52 week low of $52.77 and a 52 week high of $83.25.

CVS Health (NYSE:CVS) last released its quarterly earnings data on Wednesday, August 7th. The pharmacy operator reported $1.83 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.73 by $0.10. CVS Health had a net margin of 1.98% and a return on equity of 12.72%. The company had revenue of $91.23 billion during the quarter, compared to the consensus estimate of $91.41 billion. During the same period in the previous year, the firm earned $2.21 earnings per share. CVS Health’s revenue for the quarter was up 2.6% on a year-over-year basis. On average, equities research analysts expect that CVS Health Co. will post 6.41 EPS for the current year.

CVS Health Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, November 1st. Investors of record on Monday, October 21st were issued a $0.665 dividend. The ex-dividend date of this dividend was Monday, October 21st. This represents a $2.66 annualized dividend and a yield of 4.81%. CVS Health’s dividend payout ratio is currently 47.33%.

Analyst Ratings Changes

Several equities research analysts recently commented on CVS shares. Evercore ISI boosted their price objective on shares of CVS Health from $62.00 to $75.00 and gave the stock an “outperform” rating in a research report on Tuesday, October 8th. Wells Fargo & Company reduced their price target on shares of CVS Health from $61.00 to $60.00 and set an “equal weight” rating on the stock in a report on Monday. TD Cowen raised shares of CVS Health from a “hold” rating to a “buy” rating and raised their price objective for the stock from $59.00 to $85.00 in a research note on Friday, October 4th. Barclays reduced their target price on CVS Health from $82.00 to $75.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 23rd. Finally, Deutsche Bank Aktiengesellschaft dropped their price target on CVS Health from $64.00 to $63.00 and set a “hold” rating for the company in a research report on Friday, August 9th. Nine research analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to MarketBeat.com, CVS Health currently has a consensus rating of “Moderate Buy” and a consensus price target of $73.11.

CVS Health 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.