Auxier Asset Management Lowers Position in CVS Health Co. (NYSE:CVS)

Auxier Asset Management trimmed its stake in shares of CVS Health Co. (NYSE:CVS) by 0.4% in the 3rd quarter, HoldingsChannel.com reports. The fund owned 105,256 shares of the pharmacy operator’s stock after selling 398 shares during the period. Auxier Asset Management’s holdings in CVS Health were worth $6,618,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently bought and sold shares of CVS. Vinva Investment Management Ltd grew its position in shares of CVS Health by 10.2% during the third quarter. Vinva Investment Management Ltd now owns 56,446 shares of the pharmacy operator’s stock valued at $3,465,000 after purchasing an additional 5,242 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in CVS Health by 1.6% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 7,049,945 shares of the pharmacy operator’s stock valued at $443,301,000 after buying an additional 107,977 shares in the last quarter. Public Sector Pension Investment Board increased its stake in CVS Health by 2.3% in the 3rd quarter. Public Sector Pension Investment Board now owns 327,080 shares of the pharmacy operator’s stock worth $20,567,000 after acquiring an additional 7,200 shares during the last quarter. Fiduciary Trust Co raised its holdings in shares of CVS Health by 0.3% during the 3rd quarter. Fiduciary Trust Co now owns 108,151 shares of the pharmacy operator’s stock worth $6,801,000 after acquiring an additional 375 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its position in shares of CVS Health by 3.7% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 261,194 shares of the pharmacy operator’s stock valued at $16,424,000 after acquiring an additional 9,418 shares during the last quarter. 80.66% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on CVS. Cantor Fitzgerald reaffirmed a “neutral” rating and set a $62.00 price target on shares of CVS Health in a research note on Tuesday, October 1st. Royal Bank of Canada lowered their price target on shares of CVS Health from $68.00 to $58.00 and set an “outperform” rating for the company in a report on Friday, November 15th. StockNews.com cut CVS Health from a “hold” rating to a “sell” rating in a research note on Thursday, November 14th. Deutsche Bank Aktiengesellschaft lowered their price objective on CVS Health from $64.00 to $63.00 and set a “hold” rating for the company in a research note on Friday, August 9th. Finally, Piper Sandler cut their target price on CVS Health from $72.00 to $64.00 and set an “overweight” rating on the stock in a research report on Monday. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and thirteen have issued a buy rating to the company. According to data from MarketBeat.com, CVS Health currently has an average rating of “Moderate Buy” and a consensus price target of $70.33.

CVS Health Stock Performance

Shares of NYSE:CVS opened at $59.96 on Friday. The company has a debt-to-equity ratio of 0.80, a quick ratio of 0.59 and a current ratio of 0.80. The firm has a market cap of $75.45 billion, a PE ratio of 15.22, a price-to-earnings-growth ratio of 1.02 and a beta of 0.55. The firm’s 50 day simple moving average is $59.33 and its 200-day simple moving average is $58.73. CVS Health Co. has a one year low of $52.71 and a one year high of $83.25.

CVS Health (NYSE:CVS) last issued its earnings results on Wednesday, November 6th. The pharmacy operator reported $1.09 earnings per share for the quarter, beating analysts’ consensus estimates of $1.08 by $0.01. CVS Health had a return on equity of 10.72% and a net margin of 1.36%. The business had revenue of $95.43 billion during the quarter, compared to analyst estimates of $92.72 billion. During the same period in the previous year, the company posted $2.21 EPS. CVS Health’s revenue was up 6.3% on a year-over-year basis. As a group, equities analysts predict that CVS Health Co. will post 5.37 EPS for the current year.

CVS Health Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, November 1st. Shareholders of record on Monday, October 21st were issued a dividend of $0.665 per share. This represents a $2.66 annualized dividend and a yield of 4.44%. The ex-dividend date was Monday, October 21st. CVS Health’s payout ratio is 67.51%.

CVS Health 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.