CVS Health Co. (NYSE:CVS) Shares Sold by Geneos Wealth Management Inc.

Geneos Wealth Management Inc. reduced its stake in shares of CVS Health Co. (NYSE:CVSFree Report) by 90.9% during the 4th quarter, Holdings Channel.com reports. The firm owned 5,757 shares of the pharmacy operator’s stock after selling 57,711 shares during the period. Geneos Wealth Management Inc.’s holdings in CVS Health were worth $258,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Hotchkis & Wiley Capital Management LLC lifted its position in shares of CVS Health by 34.8% during the 3rd quarter. Hotchkis & Wiley Capital Management LLC now owns 11,897,034 shares of the pharmacy operator’s stock valued at $748,085,000 after acquiring an additional 3,071,613 shares during the period. State Street Corp grew its holdings in CVS Health by 3.6% in the third quarter. State Street Corp now owns 56,527,909 shares of the pharmacy operator’s stock valued at $3,554,475,000 after purchasing an additional 1,989,066 shares during the last quarter. TOMS Capital Investment Management LP purchased a new position in shares of CVS Health in the third quarter valued at $121,987,000. Pathway Financial Advisers LLC raised its stake in shares of CVS Health by 5,864.2% during the 3rd quarter. Pathway Financial Advisers LLC now owns 1,730,343 shares of the pharmacy operator’s stock worth $108,804,000 after buying an additional 1,701,331 shares during the last quarter. Finally, Mizuho Markets Americas LLC grew its stake in CVS Health by 1,470.2% in the 3rd quarter. Mizuho Markets Americas LLC now owns 1,396,464 shares of the pharmacy operator’s stock valued at $87,810,000 after acquiring an additional 1,307,531 shares during the last quarter. 80.66% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on CVS shares. Piper Sandler reduced their price target on shares of CVS Health from $72.00 to $64.00 and set an “overweight” rating on the stock in a report on Monday, November 25th. Barclays dropped their price target on CVS Health from $75.00 to $71.00 and set an “overweight” rating for the company in a research report on Thursday, November 7th. UBS Group increased their price objective on CVS Health from $60.00 to $62.00 and gave the company a “neutral” rating in a research note on Thursday, November 7th. Deutsche Bank Aktiengesellschaft raised shares of CVS Health from a “hold” rating to a “buy” rating and set a $66.00 target price for the company in a research note on Tuesday, December 3rd. Finally, TD Cowen lifted their price target on shares of CVS Health from $73.00 to $80.00 and gave the stock a “buy” rating in a report on Monday, November 25th. One analyst has rated the stock with a sell rating, six have given a hold rating and thirteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, CVS Health has an average rating of “Moderate Buy” and an average target price of $68.12.

Check Out Our Latest Research Report on CVS

CVS Health Stock Performance

NYSE CVS opened at $57.00 on Thursday. The business’s 50-day simple moving average is $51.27 and its 200-day simple moving average is $56.18. The firm has a market capitalization of $71.73 billion, a P/E ratio of 14.47, a P/E/G ratio of 0.80 and a beta of 0.59. CVS Health Co. has a 1-year low of $43.56 and a 1-year high of $80.75. The company has a debt-to-equity ratio of 0.80, a current ratio of 0.80 and a quick ratio of 0.59.

CVS Health (NYSE:CVSGet Free Report) last issued its earnings results on Wednesday, November 6th. The pharmacy operator reported $1.09 earnings per share for the quarter, topping the consensus estimate of $1.08 by $0.01. The company had revenue of $95.43 billion during the quarter, compared to the consensus estimate of $92.72 billion. CVS Health had a return on equity of 10.72% and a net margin of 1.36%. The company’s revenue was up 6.3% compared to the same quarter last year. During the same quarter in the prior year, the business earned $2.21 earnings per share. Equities analysts predict that CVS Health Co. will post 5.22 EPS for the current year.

CVS Health Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, February 3rd. Shareholders of record on Thursday, January 23rd will be given a $0.665 dividend. This represents a $2.66 dividend on an annualized basis and a dividend yield of 4.67%. The ex-dividend date of this dividend is Thursday, January 23rd. CVS Health’s payout ratio is 67.51%.

CVS Health Profile

(Free Report)

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.

Further Reading

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Institutional Ownership by Quarter for CVS Health (NYSE:CVS)

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