Delaney Dennis R Reduces Stock Holdings in CVS Health Co. (NYSE:CVS)

Delaney Dennis R trimmed its holdings in shares of CVS Health Co. (NYSE:CVS) by 38.4% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 11,795 shares of the pharmacy operator’s stock after selling 7,346 shares during the quarter. Delaney Dennis R’s holdings in CVS Health were worth $697,000 as of its most recent filing with the SEC.

Other hedge funds have also made changes to their positions in the company. Ables Iannone Moore & Associates Inc. acquired a new stake in CVS Health in the 4th quarter valued at approximately $32,000. Creekmur Asset Management LLC purchased a new stake in CVS Health in the 4th quarter worth about $34,000. Steph & Co. lifted its position in CVS Health by 192.0% in the 1st quarter. Steph & Co. now owns 438 shares of the pharmacy operator’s stock worth $35,000 after buying an additional 288 shares in the last quarter. Kapitalo Investimentos Ltda bought a new position in CVS Health during the fourth quarter valued at approximately $36,000. Finally, Scarborough Advisors LLC bought a new position in CVS Health during the fourth quarter valued at about $37,000. Institutional investors and hedge funds own 80.66% of the company’s stock.

CVS Health Stock Performance

NYSE CVS opened at $58.42 on Thursday. The company has a debt-to-equity ratio of 0.83, a quick ratio of 0.66 and a current ratio of 0.86. The company has a market capitalization of $73.34 billion, a P/E ratio of 10.27, a P/E/G ratio of 0.79 and a beta of 0.53. The company has a fifty day moving average of $58.33 and a 200-day moving average of $62.74. CVS Health Co. has a 52-week low of $52.77 and a 52-week high of $83.25.

CVS Health (NYSE:CVS) last announced its quarterly earnings results on Wednesday, August 7th. The pharmacy operator reported $1.83 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.73 by $0.10. The business had revenue of $91.23 billion for the quarter, compared to analyst estimates of $91.41 billion. CVS Health had a net margin of 1.98% and a return on equity of 12.72%. The company’s revenue was up 2.6% on a year-over-year basis. During the same quarter last year, the firm earned $2.21 EPS. As a group, equities research analysts predict that CVS Health Co. will post 6.51 EPS for the current fiscal year.

CVS Health Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, August 1st. Investors of record on Monday, July 22nd were given a dividend of $0.665 per share. This represents a $2.66 dividend on an annualized basis and a yield of 4.55%. The ex-dividend date was Monday, July 22nd. CVS Health’s dividend payout ratio (DPR) is presently 46.75%.

Analysts Set New Price Targets

Several research firms have recently weighed in on CVS. Royal Bank of Canada reissued an “outperform” rating and issued a $68.00 price objective on shares of CVS Health in a research report on Wednesday, September 4th. Evercore ISI dropped their target price on shares of CVS Health from $65.00 to $62.00 and set an “outperform” rating for the company in a research report on Thursday, August 8th. Barclays decreased their target price on CVS Health from $65.00 to $63.00 and set an “equal weight” rating on the stock in a report on Thursday, August 8th. Robert W. Baird initiated coverage on shares of CVS Health in a report on Thursday, May 30th. They issued a “neutral” rating and a $61.00 price target for the company. Finally, Baird R W raised CVS Health to a “hold” rating in a report on Thursday, May 30th. Eleven analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $72.10.

About CVS Health

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.