Orion Capital Management LLC Sells 740 Shares of CVS Health Co. (NYSE:CVS)

Orion Capital Management LLC lessened its stake in CVS Health Co. (NYSE:CVS) by 11.9% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 5,474 shares of the pharmacy operator’s stock after selling 740 shares during the quarter. Orion Capital Management LLC’s holdings in CVS Health were worth $432,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the stock. Bryn Mawr Capital Management LLC boosted its position in shares of CVS Health by 74.0% during the third quarter. Bryn Mawr Capital Management LLC now owns 43,213 shares of the pharmacy operator’s stock worth $3,017,000 after buying an additional 18,385 shares during the period. Value Partners Investments Inc. boosted its position in CVS Health by 26.5% during the third quarter. Value Partners Investments Inc. now owns 991,601 shares of the pharmacy operator’s stock valued at $69,261,000 after purchasing an additional 207,702 shares during the last quarter. Sonora Investment Management Group LLC boosted its position in CVS Health by 1.6% during the third quarter. Sonora Investment Management Group LLC now owns 50,488 shares of the pharmacy operator’s stock valued at $3,525,000 after purchasing an additional 774 shares during the last quarter. Checchi Capital Advisers LLC boosted its position in CVS Health by 2.3% during the third quarter. Checchi Capital Advisers LLC now owns 10,405 shares of the pharmacy operator’s stock valued at $726,000 after purchasing an additional 233 shares during the last quarter. Finally, Personal CFO Solutions LLC boosted its position in CVS Health by 2.6% during the third quarter. Personal CFO Solutions LLC now owns 19,355 shares of the pharmacy operator’s stock valued at $1,351,000 after purchasing an additional 491 shares during the last quarter. Institutional investors own 80.66% of the company’s stock.

Analyst Ratings Changes

CVS has been the subject of several recent research reports. Leerink Partnrs reissued an “outperform” rating on shares of CVS Health in a research report on Monday, February 26th. SVB Leerink reaffirmed a “market perform” rating and issued a $60.00 price objective (down from $87.00) on shares of CVS Health in a research report on Wednesday. Wells Fargo & Company cut their price objective on CVS Health from $83.00 to $76.00 and set an “equal weight” rating for the company in a research report on Monday, April 8th. Barclays assumed coverage on CVS Health in a research report on Wednesday, March 6th. They issued an “equal weight” rating and a $78.00 price objective for the company. Finally, Piper Sandler raised their price objective on CVS Health from $93.00 to $94.00 and gave the company an “overweight” rating in a research report on Friday, March 15th. Six equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $86.28.

Insider Buying and Selling at CVS Health

In related news, EVP Prem S. Shah sold 29,473 shares of the business’s stock in a transaction on Friday, February 16th. The stock was sold at an average price of $76.95, for a total transaction of $2,267,947.35. Following the sale, the executive vice president now owns 39,765 shares in the company, valued at approximately $3,059,916.75. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 0.24% of the company’s stock.

CVS Health Price Performance

CVS Health stock traded down $11.46 during mid-day trading on Wednesday, reaching $56.25. 58,184,477 shares of the company were exchanged, compared to its average volume of 11,180,843. The company has a fifty day simple moving average of $74.05 and a 200-day simple moving average of $73.62. CVS Health Co. has a 12 month low of $54.00 and a 12 month high of $83.25. The company has a debt-to-equity ratio of 0.77, a current ratio of 0.86 and a quick ratio of 0.63. The firm has a market cap of $70.90 billion, a PE ratio of 8.72, a PEG ratio of 0.89 and a beta of 0.52.

CVS Health (NYSE:CVS) last posted its quarterly earnings data on Wednesday, February 7th. The pharmacy operator reported $2.12 EPS for the quarter, topping analysts’ consensus estimates of $2.01 by $0.11. CVS Health had a return on equity of 15.25% and a net margin of 2.33%. The firm had revenue of $93.81 billion for the quarter, compared to analyst estimates of $90.58 billion. During the same quarter last year, the company earned $1.99 EPS. The company’s revenue was up 11.9% on a year-over-year basis. As a group, equities research analysts expect that CVS Health Co. will post 8.31 earnings per share for the current fiscal year.

CVS Health Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 1st. Shareholders of record on Monday, April 22nd will be paid a dividend of $0.665 per share. The ex-dividend date is Friday, April 19th. This represents a $2.66 dividend on an annualized basis and a yield of 4.73%. CVS Health’s dividend payout ratio (DPR) is presently 41.18%.

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.