CVS Health Co. (NYSE:CVS) Shares Sold by JB Capital LLC

JB Capital LLC trimmed its stake in CVS Health Co. (NYSE:CVSFree Report) by 1.9% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 11,060 shares of the pharmacy operator’s stock after selling 213 shares during the period. JB Capital LLC’s holdings in CVS Health were worth $696,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Capital World Investors lifted its stake in CVS Health by 8.0% in the first quarter. Capital World Investors now owns 43,776,874 shares of the pharmacy operator’s stock valued at $3,491,643,000 after buying an additional 3,232,172 shares during the last quarter. Capital International Investors boosted its stake in CVS Health by 12.5% during the 1st quarter. Capital International Investors now owns 37,917,923 shares of the pharmacy operator’s stock worth $3,024,334,000 after purchasing an additional 4,226,225 shares during the period. Capital Research Global Investors grew its position in CVS Health by 1.4% during the 1st quarter. Capital Research Global Investors now owns 13,143,822 shares of the pharmacy operator’s stock worth $1,048,351,000 after purchasing an additional 184,297 shares during the last quarter. Pzena Investment Management LLC increased its stake in CVS Health by 132.9% in the second quarter. Pzena Investment Management LLC now owns 12,936,388 shares of the pharmacy operator’s stock valued at $764,023,000 after purchasing an additional 7,382,931 shares during the period. Finally, Lazard Asset Management LLC raised its holdings in shares of CVS Health by 5.9% in the first quarter. Lazard Asset Management LLC now owns 6,963,508 shares of the pharmacy operator’s stock valued at $555,406,000 after buying an additional 389,166 shares during the last quarter. 80.66% of the stock is currently owned by institutional investors and hedge funds.

CVS Health Stock Down 7.3 %

CVS Health stock opened at $57.11 on Friday. CVS Health Co. has a fifty-two week low of $52.77 and a fifty-two week high of $83.25. The firm has a market capitalization of $71.84 billion, a price-to-earnings ratio of 14.49, a price-to-earnings-growth ratio of 0.82 and a beta of 0.55. The stock’s fifty day moving average is $59.59 and its two-hundred day moving average is $59.23. The company has a debt-to-equity ratio of 0.83, a quick ratio of 0.66 and a current ratio of 0.86.

CVS Health (NYSE:CVSGet Free Report) last posted its earnings results on Wednesday, November 6th. The pharmacy operator reported $1.09 earnings per share for the quarter, beating the consensus estimate of $1.08 by $0.01. CVS Health had a net margin of 1.98% and a return on equity of 12.72%. The firm had revenue of $95.43 billion during the quarter, compared to the consensus estimate of $92.72 billion. During the same period last year, the firm posted $2.21 EPS. The firm’s revenue for the quarter was up 6.3% on a year-over-year basis. Analysts predict that CVS Health Co. will post 6.27 EPS for the current fiscal year.

CVS Health Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, November 1st. Investors of record on Monday, October 21st were paid a $0.665 dividend. This represents a $2.66 dividend on an annualized basis and a yield of 4.66%. The ex-dividend date was Monday, October 21st. CVS Health’s payout ratio is currently 67.51%.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on the company. Wells Fargo & Company dropped their price target on CVS Health from $61.00 to $60.00 and set an “equal weight” rating on the stock in a research report on Monday. Royal Bank of Canada restated an “outperform” rating and set a $68.00 price target on shares of CVS Health in a research note on Wednesday, September 4th. Truist Financial lifted their price objective on shares of CVS Health from $66.00 to $76.00 and gave the company a “buy” rating in a research report on Friday, October 11th. Cantor Fitzgerald restated a “neutral” rating and issued a $62.00 target price on shares of CVS Health in a research note on Tuesday, October 1st. Finally, Evercore ISI boosted their price target on shares of CVS Health from $62.00 to $75.00 and gave the stock an “outperform” rating in a research note on Tuesday, October 8th. Nine research analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. Based on data from MarketBeat.com, CVS Health has a consensus rating of “Moderate Buy” and an average target price of $73.00.

Read Our Latest Analysis on CVS Health

About CVS Health

(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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