Truvestments Capital LLC trimmed its position in CVS Health Co. (NYSE:CVS) by 69.1% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 5,831 shares of the pharmacy operator’s stock after selling 13,034 shares during the period. Truvestments Capital LLC’s holdings in CVS Health were worth $340,000 at the end of the most recent quarter.
Other institutional investors have also recently added to or reduced their stakes in the company. CVA Family Office LLC raised its position in shares of CVS Health by 173.7% during the third quarter. CVA Family Office LLC now owns 457 shares of the pharmacy operator’s stock worth $27,000 after purchasing an additional 290 shares during the period. Ellis Investment Partners LLC raised its holdings in CVS Health by 47.0% during the 3rd quarter. Ellis Investment Partners LLC now owns 541 shares of the pharmacy operator’s stock worth $31,000 after buying an additional 173 shares during the period. Hoover Financial Advisors Inc. bought a new position in CVS Health in the second quarter valued at approximately $32,000. Liberty Wealth Management LLC boosted its holdings in shares of CVS Health by 108.9% in the third quarter. Liberty Wealth Management LLC now owns 631 shares of the pharmacy operator’s stock valued at $37,000 after buying an additional 329 shares during the period. Finally, Keebeck Wealth Management LLC bought a new stake in shares of CVS Health during the second quarter worth $42,000. 68.47% of the stock is currently owned by institutional investors and hedge funds.
Several equities analysts have recently weighed in on the stock. SVB Leerink raised their price target on shares of CVS Health from $72.00 to $73.00 and gave the stock a “market perform” rating in a research note on Thursday, August 6th. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of CVS Health in a research report on Monday, November 9th. Piper Sandler increased their price target on CVS Health from $72.00 to $76.00 and gave the company an “overweight” rating in a research report on Wednesday, November 11th. Credit Suisse Group boosted their target price on shares of CVS Health from $75.00 to $90.00 and gave the stock an “outperform” rating in a report on Friday, August 7th. Finally, Deutsche Bank Aktiengesellschaft lowered their price objective on shares of CVS Health from $104.00 to $101.00 and set a “buy” rating on the stock in a research note on Monday, November 9th. One analyst has rated the stock with a sell rating, three have issued a hold rating, eleven have given a buy rating and two have assigned a strong buy rating to the stock. CVS Health presently has an average rating of “Buy” and a consensus price target of $82.43.
In other news, EVP Alan Lotvin sold 7,138 shares of CVS Health stock in a transaction that occurred on Friday, November 13th. The shares were sold at an average price of $70.00, for a total value of $499,660.00. Following the completion of the sale, the executive vice president now directly owns 8,023 shares in the company, valued at $561,610. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Corporate insiders own 0.46% of the company’s stock.
NYSE:CVS opened at $67.79 on Tuesday. The stock has a 50 day simple moving average of $63.22 and a 200 day simple moving average of $62.98. The stock has a market cap of $88.73 billion, a P/E ratio of 11.20, a PEG ratio of 1.54 and a beta of 0.69. CVS Health Co. has a 1-year low of $52.04 and a 1-year high of $76.44. The company has a current ratio of 0.95, a quick ratio of 0.67 and a debt-to-equity ratio of 0.89.
CVS Health (NYSE:CVS) last posted its earnings results on Wednesday, November 11th. The pharmacy operator reported $1.66 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.33 by $0.33. CVS Health had a return on equity of 15.60% and a net margin of 2.99%. The company had revenue of $67.05 billion during the quarter, compared to the consensus estimate of $66.54 billion. During the same quarter last year, the firm earned $1.84 earnings per share. The company’s revenue was up 3.5% on a year-over-year basis. As a group, sell-side analysts forecast that CVS Health Co. will post 7.43 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Monday, November 2nd. Shareholders of record on Thursday, October 22nd were issued a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a yield of 2.95%. The ex-dividend date was Wednesday, October 21st. CVS Health’s dividend payout ratio is currently 28.25%.
CVS Health Company Profile
CVS Health Corporation provides health services and plans in the United States. The company's Pharmacy Services segment offers pharmacy benefit management solutions, including plan design and administration, formulary management, retail pharmacy network management, mail order pharmacy, specialty pharmacy and infusion, clinical, and disease and medical spend management services.
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