CVS Health Co. (NYSE:CVS) Shares Sold by Metis Global Partners LLC

Metis Global Partners LLC decreased its position in CVS Health Co. (NYSE:CVS) by 10.9% during the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 46,622 shares of the pharmacy operator’s stock after selling 5,700 shares during the period. Metis Global Partners LLC’s holdings in CVS Health were worth $3,681,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. FMR LLC boosted its stake in shares of CVS Health by 29.1% during the third quarter. FMR LLC now owns 27,487,238 shares of the pharmacy operator’s stock valued at $1,919,159,000 after acquiring an additional 6,194,441 shares during the last quarter. International Assets Investment Management LLC lifted its stake in shares of CVS Health by 8,697.2% during the fourth quarter. International Assets Investment Management LLC now owns 1,322,129 shares of the pharmacy operator’s stock valued at $104,395,000 after buying an additional 1,307,100 shares during the period. Canada Pension Plan Investment Board grew its stake in CVS Health by 49.9% in the 3rd quarter. Canada Pension Plan Investment Board now owns 2,095,978 shares of the pharmacy operator’s stock worth $146,341,000 after acquiring an additional 698,054 shares during the period. Pacer Advisors Inc. raised its holdings in CVS Health by 12.6% in the 4th quarter. Pacer Advisors Inc. now owns 5,513,230 shares of the pharmacy operator’s stock valued at $435,325,000 after acquiring an additional 616,785 shares during the last quarter. Finally, J.P. Morgan Private Wealth Advisors LLC acquired a new stake in shares of CVS Health during the third quarter worth $34,379,000. Hedge funds and other institutional investors own 80.66% of the company’s stock.

Insider Activity

In other news, EVP Prem S. Shah sold 29,473 shares of the stock in a transaction on Friday, February 16th. The stock was sold at an average price of $76.95, for a total transaction of $2,267,947.35. Following the completion of the sale, the executive vice president now owns 39,765 shares in the company, valued at approximately $3,059,916.75. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other CVS Health news, EVP Prem S. Shah sold 29,473 shares of the company’s stock in a transaction dated Friday, February 16th. The shares were sold at an average price of $76.95, for a total transaction of $2,267,947.35. Following the completion of the sale, the executive vice president now directly owns 39,765 shares of the company’s stock, valued at $3,059,916.75. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director Edward J. Ludwig bought 1,000 shares of the company’s stock in a transaction dated Thursday, May 2nd. The stock was purchased at an average cost of $53.88 per share, for a total transaction of $53,880.00. Following the completion of the transaction, the director now owns 21,630 shares of the company’s stock, valued at $1,165,424.40. The disclosure for this purchase can be found here. 0.24% of the stock is owned by insiders.

CVS Health Stock Performance

Shares of NYSE CVS traded up $0.07 during midday trading on Monday, hitting $55.97. The company’s stock had a trading volume of 16,513,059 shares, compared to its average volume of 11,807,208. The company has a debt-to-equity ratio of 0.78, a quick ratio of 0.61 and a current ratio of 0.81. The firm’s fifty day moving average price is $72.77 and its 200-day moving average price is $73.29. CVS Health Co. has a 1-year low of $53.70 and a 1-year high of $83.25. The firm has a market cap of $70.26 billion, a P/E ratio of 9.76, a P/E/G ratio of 0.88 and a beta of 0.56.

CVS Health (NYSE:CVS) last posted its earnings results on Wednesday, May 1st. The pharmacy operator reported $1.31 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.69 by ($0.38). The company had revenue of $88.44 billion during the quarter, compared to the consensus estimate of $89.33 billion. CVS Health had a net margin of 2.03% and a return on equity of 13.53%. The business’s quarterly revenue was up 3.7% compared to the same quarter last year. During the same quarter in the previous year, the business posted $2.20 earnings per share. On average, sell-side analysts forecast that CVS Health Co. will post 7.03 EPS for the current fiscal year.

CVS Health Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, May 1st. Investors of record on Monday, April 22nd were issued a $0.665 dividend. This represents a $2.66 annualized dividend and a yield of 4.75%. The ex-dividend date of this dividend was Friday, April 19th. CVS Health’s payout ratio is currently 46.75%.

Analysts Set New Price Targets

Several research firms have commented on CVS. Mizuho lowered their price target on CVS Health from $86.00 to $72.00 and set a “buy” rating for the company in a report on Thursday. Bank of America dropped their price target on shares of CVS Health from $95.00 to $77.00 and set a “buy” rating for the company in a research report on Thursday. Truist Financial reissued a “buy” rating and set a $66.00 price objective (down from $90.00) on shares of CVS Health in a research note on Thursday. The Goldman Sachs Group cut their target price on CVS Health from $85.00 to $74.00 and set a “buy” rating on the stock in a research report on Thursday. Finally, Royal Bank of Canada lowered their price target on CVS Health from $86.00 to $84.00 and set an “outperform” rating for the company in a research report on Thursday, February 8th. Eight investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $80.35.

CVS Health 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.