NewEdge Advisors LLC Sells 1,889 Shares of CVS Health Co. (NYSE:CVS)

NewEdge Advisors LLC decreased its holdings in shares of CVS Health Co. (NYSE:CVS) by 2.8% in the second quarter, HoldingsChannel reports. The firm owned 66,203 shares of the pharmacy operator’s stock after selling 1,889 shares during the quarter. NewEdge Advisors LLC’s holdings in CVS Health were worth $3,910,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Deerfield Management Company L.P. Series C bought a new position in CVS Health during the 2nd quarter valued at approximately $57,584,000. Susquehanna Fundamental Investments LLC raised its position in CVS Health by 27.9% during the 2nd quarter. Susquehanna Fundamental Investments LLC now owns 665,451 shares of the pharmacy operator’s stock valued at $39,302,000 after purchasing an additional 145,158 shares during the last quarter. Steph & Co. raised its position in shares of 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 acquiring an additional 288 shares in the last quarter. Douglas Lane & Associates LLC raised its position in shares of CVS Health by 1.6% in the 1st quarter. Douglas Lane & Associates LLC now owns 1,084,256 shares of the pharmacy operator’s stock worth $86,480,000 after acquiring an additional 16,840 shares in the last quarter. Finally, OLD Point Trust & Financial Services N A bought a new position in shares of CVS Health in the 4th quarter worth approximately $151,000. Institutional investors own 80.66% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on CVS shares. Evercore ISI decreased their target price on CVS Health from $65.00 to $62.00 and set an “outperform” rating for the company in a research report on Thursday, August 8th. Cantor Fitzgerald reissued a “neutral” rating and issued a $62.00 target price on shares of CVS Health in a research report on Tuesday. Wells Fargo & Company increased their target price on CVS Health from $60.00 to $61.00 and gave the stock an “equal weight” rating in a research report on Monday, August 12th. Royal Bank of Canada reissued an “outperform” rating and issued a $68.00 target price on shares of CVS Health in a research report on Wednesday, September 4th. Finally, Deutsche Bank Aktiengesellschaft reduced their price objective 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. Eleven analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. Based on data from MarketBeat, CVS Health has an average rating of “Moderate Buy” and a consensus price target of $72.10.

CVS Health Stock Performance

Shares of CVS opened at $62.24 on Thursday. The business’s fifty day simple moving average is $58.44 and its two-hundred day simple moving average is $61.66. The company has a current ratio of 0.86, a quick ratio of 0.66 and a debt-to-equity ratio of 0.83. CVS Health Co. has a 12 month low of $52.77 and a 12 month high of $83.25. The company has a market cap of $78.13 billion, a price-to-earnings ratio of 10.94, a P/E/G ratio of 0.81 and a beta of 0.53.

CVS Health (NYSE:CVS) last released 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 firm had revenue of $91.23 billion for the quarter, compared to the consensus estimate of $91.41 billion. CVS Health had a return on equity of 12.72% and a net margin of 1.98%. The company’s revenue for the quarter was up 2.6% on a year-over-year basis. During the same period last year, the business posted $2.21 EPS. Research analysts anticipate that CVS Health Co. will post 6.51 earnings per share for the current fiscal year.

CVS Health Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, November 1st. Stockholders of record on Monday, October 21st will be paid a $0.665 dividend. The ex-dividend date of this dividend is Monday, October 21st. This represents a $2.66 dividend on an annualized basis and a dividend yield of 4.27%. CVS Health’s dividend payout ratio (DPR) is currently 46.75%.

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.