Kiltearn Partners LLP Reduces Stock Holdings in CVS Health Co. (NYSE:CVS)

Kiltearn Partners LLP lowered its holdings in shares of CVS Health Co. (NYSE:CVS) by 12.8% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 861,168 shares of the pharmacy operator’s stock after selling 126,640 shares during the period. CVS Health makes up 6.3% of Kiltearn Partners LLP’s investment portfolio, making the stock its 3rd largest holding. Kiltearn Partners LLP owned about 0.07% of CVS Health worth $68,515,000 as of its most recent SEC filing.

Other hedge funds have also bought and sold shares of the company. Riverpoint Wealth Management Holdings LLC bought a new stake in CVS Health during the fourth quarter worth about $218,000. Canoe Financial LP lifted its stake in shares of CVS Health by 95.1% in the fourth quarter. Canoe Financial LP now owns 1,762,629 shares of the pharmacy operator’s stock worth $139,177,000 after buying an additional 859,134 shares in the last quarter. Meritage Portfolio Management lifted its stake in shares of CVS Health by 30.6% in the fourth quarter. Meritage Portfolio Management now owns 66,322 shares of the pharmacy operator’s stock worth $5,237,000 after buying an additional 15,548 shares in the last quarter. Steph & Co. lifted its stake in shares of CVS Health by 192.0% in the first quarter. Steph & Co. now owns 438 shares of the pharmacy operator’s stock worth $35,000 after buying an additional 288 shares in the last quarter. Finally, Forum Financial Management LP lifted its stake in shares of CVS Health by 19.4% in the fourth quarter. Forum Financial Management LP now owns 17,856 shares of the pharmacy operator’s stock worth $1,410,000 after buying an additional 2,901 shares in the last quarter. Institutional investors own 80.66% of the company’s stock.

Insider Buying and Selling at CVS Health

In other CVS Health news, Director Edward J. Ludwig acquired 1,000 shares of the stock in a transaction on Thursday, May 2nd. The stock was acquired at an average price of $53.88 per share, for a total transaction of $53,880.00. Following the completion of the transaction, 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 filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.24% of the stock is owned by company insiders.

CVS Health Price Performance

Shares of NYSE CVS traded up $2.35 during midday trading on Friday, reaching $61.00. The stock had a trading volume of 14,553,173 shares, compared to its average volume of 7,959,074. 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 stock has a 50-day moving average of $58.85 and a 200-day moving average of $67.30. CVS Health Co. has a 12-month low of $52.77 and a 12-month high of $83.25. The company has a market capitalization of $76.58 billion, a price-to-earnings ratio of 10.72, a price-to-earnings-growth ratio of 0.58 and a beta of 0.52.

CVS Health (NYSE:CVS) last issued its earnings results on Wednesday, May 1st. The pharmacy operator reported $1.31 earnings per share for the quarter, missing analysts’ consensus estimates of $1.69 by ($0.38). CVS Health had a return on equity of 13.53% and a net margin of 2.03%. The company had revenue of $88.44 billion for the quarter, compared to the consensus estimate of $89.33 billion. During the same quarter in the prior year, the company posted $2.20 EPS. CVS Health’s revenue was up 3.7% compared to the same quarter last year. As a group, research analysts anticipate that CVS Health Co. will post 7 EPS for the current fiscal year.

CVS Health Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, August 1st. Shareholders of record on Monday, July 22nd will be given a dividend of $0.665 per share. The ex-dividend date of this dividend is Monday, July 22nd. This represents a $2.66 annualized dividend and a yield of 4.36%. CVS Health’s dividend payout ratio (DPR) is currently 46.75%.

Analyst Ratings Changes

Several brokerages have recently issued reports on CVS. JPMorgan Chase & Co. dropped their target price on shares of CVS Health from $101.00 to $86.00 and set an “overweight” rating on the stock in a research note on Thursday, May 30th. SVB Leerink reissued a “market perform” rating and set a $60.00 price objective (down from $87.00) on shares of CVS Health in a report on Wednesday, May 1st. The Goldman Sachs Group decreased their price objective on shares of CVS Health from $85.00 to $74.00 and set a “buy” rating for the company in a report on Thursday, May 2nd. Robert W. Baird began coverage on shares of CVS Health in a report on Thursday, May 30th. They set a “neutral” rating and a $61.00 price objective for the company. Finally, Bank of America decreased their price objective on shares of CVS Health from $95.00 to $77.00 and set a “buy” rating for the company in a report on Thursday, May 2nd. Eleven investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. According to MarketBeat, CVS Health presently has an average rating of “Moderate Buy” and an average target price of $75.05.

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.