CVS Health Co. (NYSE:CVS) Shares Sold by Modera Wealth Management LLC

Modera Wealth Management LLC cut its holdings in shares of CVS Health Co. (NYSE:CVS) by 8.2% during the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 53,829 shares of the pharmacy operator’s stock after selling 4,836 shares during the quarter. Modera Wealth Management LLC’s holdings in CVS Health were worth $3,385,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in the business. Pathway Financial Advisers LLC grew its holdings in CVS Health by 5,864.2% in the third quarter. Pathway Financial Advisers LLC now owns 1,730,343 shares of the pharmacy operator’s stock valued at $108,804,000 after purchasing an additional 1,701,331 shares during the period. Forsta AP Fonden grew its stake in shares of CVS Health by 9.4% during the 3rd quarter. Forsta AP Fonden now owns 343,000 shares of the pharmacy operator’s stock valued at $21,568,000 after buying an additional 29,500 shares during the period. Allworth Financial LP raised its position in shares of CVS Health by 10.7% in the 3rd quarter. Allworth Financial LP now owns 17,613 shares of the pharmacy operator’s stock worth $1,108,000 after buying an additional 1,706 shares during the period. Joel Isaacson & Co. LLC boosted its holdings in CVS Health by 57.6% in the third quarter. Joel Isaacson & Co. LLC now owns 5,473 shares of the pharmacy operator’s stock valued at $344,000 after acquiring an additional 2,000 shares during the last quarter. Finally, Cullinan Associates Inc. increased its stake in CVS Health by 43.8% during the third quarter. Cullinan Associates Inc. now owns 122,682 shares of the pharmacy operator’s stock worth $7,125,000 after acquiring an additional 37,395 shares during the last quarter. 80.66% of the stock is owned by institutional investors and hedge funds.

CVS Health Price Performance

CVS opened at $56.49 on Monday. The company has a debt-to-equity ratio of 0.83, a quick ratio of 0.66 and a current ratio of 0.86. CVS Health Co. has a 1-year low of $52.77 and a 1-year high of $83.25. The company has a 50-day moving average of $59.82 and a 200-day moving average of $59.84. The company has a market capitalization of $70.92 billion, a P/E ratio of 9.93, a PEG ratio of 0.84 and a beta of 0.54.

CVS Health (NYSE:CVS) last announced its quarterly earnings data on Wednesday, August 7th. The pharmacy operator reported $1.83 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.73 by $0.10. The firm had revenue of $91.23 billion for the quarter, compared to analysts’ expectations of $91.41 billion. CVS Health had a return on equity of 12.72% and a net margin of 1.98%. CVS Health’s revenue for the quarter was up 2.6% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $2.21 earnings per share. Equities analysts expect that CVS Health Co. will post 6.41 EPS for the current fiscal year.

CVS Health Dividend Announcement

The firm also recently announced 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 is Monday, October 21st. This represents a $2.66 annualized dividend and a yield of 4.71%. CVS Health’s payout ratio is 46.75%.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on CVS. TD Cowen raised CVS Health from a “hold” rating to a “buy” rating and lifted their price objective for the company from $59.00 to $85.00 in a research note on Friday, October 4th. Evercore ISI lifted their price target on shares of CVS Health from $62.00 to $75.00 and gave the company an “outperform” rating in a research report on Tuesday, October 8th. Mizuho dropped their price objective on shares of CVS Health from $73.00 to $66.00 and set an “outperform” rating for the company in a research report on Thursday. Deutsche Bank Aktiengesellschaft reduced their target price on shares of CVS Health from $64.00 to $63.00 and set a “hold” rating on the stock in a report on Friday, August 9th. Finally, 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. Nine investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $74.58.

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.