CVS Health Co. (NYSE:CVS) Shares Sold by Logan Capital Management Inc.

Logan Capital Management Inc. reduced its holdings in CVS Health Co. (NYSE:CVSFree Report) by 8.0% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 18,999 shares of the pharmacy operator’s stock after selling 1,662 shares during the quarter. Logan Capital Management Inc.’s holdings in CVS Health were worth $1,500,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also recently added to or reduced their stakes in the business. Atticus Wealth Management LLC boosted its position in shares of CVS Health by 149.0% in the fourth quarter. Atticus Wealth Management LLC now owns 366 shares of the pharmacy operator’s stock worth $29,000 after acquiring an additional 219 shares during the last quarter. USA Financial Formulas grew its stake in shares of CVS Health by 573.2% during the 4th quarter. USA Financial Formulas now owns 377 shares of the pharmacy operator’s stock valued at $30,000 after buying an additional 321 shares during the period. ZRC Wealth Management LLC increased its holdings in shares of CVS Health by 400.0% during the 4th quarter. ZRC Wealth Management LLC now owns 500 shares of the pharmacy operator’s stock worth $39,000 after buying an additional 400 shares during the last quarter. Coston McIsaac & Partners grew its position in CVS Health by 42.6% during the fourth quarter. Coston McIsaac & Partners now owns 539 shares of the pharmacy operator’s stock valued at $42,000 after acquiring an additional 161 shares during the period. Finally, Northwest Financial Advisors purchased a new position in shares of CVS Health in the 4th quarter worth about $42,000. 80.66% of the stock is owned by institutional investors and hedge funds.

CVS Health Stock Down 2.4 %

CVS stock opened at $60.29 on Tuesday. The company has a debt-to-equity ratio of 0.78, a current ratio of 0.81 and a quick ratio of 0.61. The firm has a fifty day moving average price of $62.62 and a two-hundred day moving average price of $71.18. CVS Health Co. has a 1-year low of $52.77 and a 1-year high of $83.25. The firm has a market cap of $75.69 billion, a price-to-earnings ratio of 10.60, a PEG ratio of 0.59 and a beta of 0.53.

CVS Health (NYSE:CVSGet Free Report) last released its quarterly earnings data 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 firm had revenue of $88.44 billion during the quarter, compared to analyst estimates of $89.33 billion. During the same period last year, the business earned $2.20 EPS. The firm’s revenue was up 3.7% on a year-over-year basis. Research analysts predict that CVS Health Co. will post 7.02 EPS for the current year.

CVS Health Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, May 1st. Stockholders of record on Monday, April 22nd were paid a $0.665 dividend. This represents a $2.66 dividend on an annualized basis and a dividend yield of 4.41%. The ex-dividend date of this dividend was Friday, April 19th. CVS Health’s dividend payout ratio is currently 46.75%.

Insider Activity

In other news, Director Edward J. Ludwig purchased 1,000 shares of the stock in a transaction dated Thursday, May 2nd. The shares were bought at an average cost of $53.88 per share, for a total transaction of $53,880.00. Following the transaction, the director now owns 21,630 shares in the company, valued at $1,165,424.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.24% of the company’s stock.

Wall Street Analyst Weigh In

CVS has been the subject of a number of research analyst reports. Truist Financial reissued a “buy” rating and set a $66.00 target price (down previously from $90.00) on shares of CVS Health in a research report on Thursday, May 2nd. Bank of America cut their price objective on CVS Health from $95.00 to $77.00 and set a “buy” rating on the stock in a research report on Thursday, May 2nd. Argus decreased their target price on CVS Health from $100.00 to $80.00 and set a “buy” rating for the company in a research report on Wednesday, May 8th. Mizuho lowered their price objective on shares of CVS Health from $86.00 to $72.00 and set a “buy” rating for the company in a research report on Thursday, May 2nd. Finally, Wells Fargo & Company reduced their target price on shares of CVS Health from $76.00 to $60.00 and set an “equal weight” rating on the stock in a research report on Tuesday, May 7th. Eleven analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $75.05.

Read Our Latest Stock Report on CVS Health

CVS Health Company 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.

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

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