Davis R M Inc. Sells 531 Shares of CVS Health Co. (NYSE:CVS)

Davis R M Inc. decreased its holdings in shares of CVS Health Co. (NYSE:CVS) by 16.1% in the fourth quarter, Holdings Channel reports. The firm owned 2,768 shares of the pharmacy operator’s stock after selling 531 shares during the quarter. Davis R M Inc.’s holdings in CVS Health were worth $219,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in CVS. Bryn Mawr Capital Management LLC raised its position in CVS Health by 74.0% in the 3rd quarter. Bryn Mawr Capital Management LLC now owns 43,213 shares of the pharmacy operator’s stock worth $3,017,000 after purchasing an additional 18,385 shares during the last quarter. Checchi Capital Advisers LLC lifted its position in CVS Health by 2.3% during the 3rd quarter. Checchi Capital Advisers LLC now owns 10,405 shares of the pharmacy operator’s stock worth $726,000 after buying an additional 233 shares in the last quarter. Personal CFO Solutions LLC raised its holdings in shares of CVS Health by 2.6% in the 3rd quarter. Personal CFO Solutions LLC now owns 19,355 shares of the pharmacy operator’s stock valued at $1,351,000 after purchasing an additional 491 shares during the period. Riverpoint Wealth Management Holdings LLC acquired a new position in CVS Health in the 4th quarter valued at about $218,000. Finally, Canoe Financial LP grew its stake in CVS Health by 95.1% in the 4th quarter. Canoe Financial LP now owns 1,762,629 shares of the pharmacy operator’s stock valued at $139,177,000 after buying an additional 859,134 shares during the last quarter. Institutional investors own 80.66% of the company’s stock.

Insider Transactions at CVS Health

In related news, Director Edward J. Ludwig purchased 1,000 shares of the firm’s stock in a transaction dated Thursday, May 2nd. The shares were purchased at an average price of $53.88 per share, with a total value of $53,880.00. Following the acquisition, the director now directly owns 21,630 shares of the company’s stock, valued at $1,165,424.40. The purchase was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 0.24% of the company’s stock.

CVS Health Stock Performance

CVS stock traded down $0.44 during mid-day trading on Thursday, hitting $57.00. The company had a trading volume of 1,575,069 shares, compared to its average volume of 11,841,591. The firm has a market cap of $71.56 billion, a PE ratio of 10.10, a price-to-earnings-growth ratio of 0.55 and a beta of 0.56. The company has a debt-to-equity ratio of 0.78, a quick ratio of 0.61 and a current ratio of 0.81. CVS Health Co. has a 12 month low of $53.70 and a 12 month high of $83.25. The stock’s fifty day moving average price is $67.98 and its two-hundred day moving average price is $72.13.

CVS Health (NYSE:CVS) last posted its quarterly earnings results on Wednesday, May 1st. The pharmacy operator reported $1.31 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.69 by ($0.38). The business 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 revenue for the quarter was up 3.7% on a year-over-year basis. During the same period last year, the firm earned $2.20 EPS. On average, analysts forecast that CVS Health Co. will post 7.02 earnings per share for the current fiscal year.

CVS Health Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, May 1st. Shareholders of record on Monday, April 22nd were paid a $0.665 dividend. This represents a $2.66 annualized dividend and a yield of 4.67%. The ex-dividend date was Friday, April 19th. CVS Health’s dividend payout ratio is presently 46.75%.

Analysts Set New Price Targets

A number of research analysts have issued reports on the stock. Bank of America decreased their target price on shares of CVS Health from $95.00 to $77.00 and set a “buy” rating on the stock in a research report on Thursday, May 2nd. StockNews.com lowered shares of CVS Health from a “buy” rating to a “hold” rating in a research report on Thursday, February 15th. Truist Financial reiterated a “buy” rating and set a $66.00 price target (down previously from $90.00) on shares of CVS Health in a research report on Thursday, May 2nd. Barclays reduced their price target on shares of CVS Health from $78.00 to $63.00 and set an “equal weight” rating on the stock in a research report on Thursday, May 2nd. Finally, Cantor Fitzgerald downgraded shares of CVS Health from an “overweight” rating to a “neutral” rating and dropped their price objective for the company from $87.00 to $58.00 in a research note on Wednesday, May 1st. Nine equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $76.75.

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.