CVS Health Co. (NYSE:CVS) Stock Holdings Decreased by Bellevue Group AG

Bellevue Group AG cut its stake in shares of CVS Health Co. (NYSE:CVS) by 10.8% during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 31,503 shares of the pharmacy operator’s stock after selling 3,811 shares during the period. Bellevue Group AG’s holdings in CVS Health were worth $2,487,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in CVS. Norges Bank purchased a new position in CVS Health during the fourth quarter valued at approximately $1,092,040,000. Capital International Investors grew its position in CVS Health by 47.4% during the fourth quarter. Capital International Investors now owns 33,691,698 shares of the pharmacy operator’s stock valued at $2,660,298,000 after purchasing an additional 10,837,801 shares in the last quarter. FMR LLC grew its position in 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 purchasing an additional 6,194,441 shares in the last quarter. Clearbridge Investments LLC grew its position in CVS Health by 306.6% in the fourth quarter. Clearbridge Investments LLC now owns 3,046,216 shares of the pharmacy operator’s stock worth $240,529,000 after acquiring an additional 2,297,100 shares in the last quarter. Finally, International Assets Investment Management LLC grew its position in CVS Health by 8,697.2% in the fourth quarter. International Assets Investment Management LLC now owns 1,322,129 shares of the pharmacy operator’s stock worth $104,395,000 after acquiring an additional 1,307,100 shares in the last quarter. 80.66% of the stock is owned by hedge funds and other institutional investors.

CVS Health Stock Down 0.5 %

CVS opened at $59.99 on Tuesday. The firm’s 50-day simple moving average is $62.62 and its 200-day simple moving average is $71.18. 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 twelve month low of $52.77 and a twelve month high of $83.25. The firm has a market cap of $75.31 billion, a price-to-earnings ratio of 10.56, a PEG ratio of 0.59 and a beta of 0.53.

CVS Health (NYSE:CVS) last posted its earnings results on Wednesday, May 1st. The pharmacy operator reported $1.31 earnings per share for the quarter, missing the consensus estimate 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 the consensus estimate of $89.33 billion. During the same period in the previous year, the company posted $2.20 EPS. The firm’s revenue for the quarter was up 3.7% compared to the same quarter last year. Equities research analysts anticipate that CVS Health Co. will post 7.02 EPS for the current fiscal year.

CVS Health Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, May 1st. Stockholders of record on Monday, April 22nd were issued a $0.665 dividend. This represents a $2.66 annualized dividend and a dividend yield of 4.43%. The ex-dividend date was Friday, April 19th. CVS Health’s payout ratio is 46.75%.

Insider Transactions at CVS Health

In related news, Director Edward J. Ludwig acquired 1,000 shares of the firm’s stock in a transaction on 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 in the company, valued at $1,165,424.40. The purchase was disclosed in a legal filing with the SEC, which is accessible through this link. 0.24% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several analysts have commented on the stock. Mizuho decreased their target price 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. SVB Leerink restated a “market perform” rating and issued a $60.00 price objective (down from $87.00) on shares of CVS Health in a research note on Wednesday, May 1st. Baird R W upgraded shares of CVS Health to a “hold” rating in a research note on Thursday, May 30th. UBS Group cut shares of CVS Health from a “buy” rating to a “neutral” rating and reduced their price objective for the stock from $85.00 to $60.00 in a research note on Thursday, May 2nd. Finally, Argus reduced their price objective on shares of CVS Health from $100.00 to $80.00 and set a “buy” rating for the company in a research note on Wednesday, May 8th. Eleven equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target 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.