CVS Health Co. (NYSE:CVS) Stake Cut by DSC Advisors L.P.

DSC Advisors L.P. lessened its stake in shares of CVS Health Co. (NYSE:CVS) by 34.4% in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 100,229 shares of the pharmacy operator’s stock after selling 52,517 shares during the quarter. CVS Health comprises 19.8% of DSC Advisors L.P.’s portfolio, making the stock its 3rd largest holding. DSC Advisors L.P.’s holdings in CVS Health were worth $5,920,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also recently modified their holdings of CVS. Gryphon Financial Partners LLC grew its position in CVS Health by 48.3% during the fourth quarter. Gryphon Financial Partners LLC now owns 8,151 shares of the pharmacy operator’s stock valued at $654,000 after acquiring an additional 2,653 shares during the last quarter. Congress Wealth Management LLC DE grew its position in shares of CVS Health by 126.0% in the 4th quarter. Congress Wealth Management LLC DE now owns 6,827 shares of the pharmacy operator’s stock worth $539,000 after buying an additional 3,806 shares during the last quarter. Parallel Advisors LLC increased its position in CVS Health by 18.2% during the 4th quarter. Parallel Advisors LLC now owns 24,257 shares of the pharmacy operator’s stock valued at $1,915,000 after purchasing an additional 3,732 shares during the period. TD Asset Management Inc boosted its position in shares of CVS Health by 4.5% during the fourth quarter. TD Asset Management Inc now owns 1,122,189 shares of the pharmacy operator’s stock valued at $88,608,000 after purchasing an additional 48,229 shares in the last quarter. Finally, Stifel Financial Corp boosted its stake in CVS Health by 7.4% during the fourth quarter. Stifel Financial Corp now owns 1,076,102 shares of the pharmacy operator’s stock worth $84,969,000 after acquiring an additional 74,464 shares in the last quarter. 80.66% of the stock is owned by hedge funds and other institutional investors.

CVS Health Price Performance

Shares of CVS Health stock opened at $58.65 on Thursday. The firm has a market cap of $73.63 billion, a PE ratio of 10.31, a P/E/G ratio of 0.81 and a beta of 0.53. The business has a 50-day moving average price of $58.24 and a 200 day moving average price of $62.20. 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 twelve month low of $52.77 and a twelve month high of $83.25.

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

CVS Health Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 1st. Shareholders of record on Monday, October 21st will be paid a dividend of $0.665 per share. The ex-dividend date of this dividend is Monday, October 21st. This represents a $2.66 annualized dividend and a yield of 4.54%. CVS Health’s dividend payout ratio (DPR) is currently 46.75%.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on the company. JPMorgan Chase & Co. lowered their price objective on CVS Health from $101.00 to $86.00 and set an “overweight” rating on the stock in a research report on Thursday, May 30th. Evercore ISI cut 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. Robert W. Baird began coverage on CVS Health in a report on Thursday, May 30th. They issued a “neutral” rating and a $61.00 target price on the stock. Baird R W upgraded CVS Health to a “hold” rating in a research note on Thursday, May 30th. Finally, Deutsche Bank Aktiengesellschaft dropped their target price on shares of CVS Health from $64.00 to $63.00 and set a “hold” rating for the company in a report on Friday, August 9th. Eleven equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $72.10.

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.