Cullinan Associates Inc. Reduces Holdings in CVS Health Co. (NYSE:CVS)

Cullinan Associates Inc. reduced its stake in CVS Health Co. (NYSE:CVS) by 67.7% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 39,618 shares of the pharmacy operator’s stock after selling 83,064 shares during the period. Cullinan Associates Inc.’s holdings in CVS Health were worth $1,778,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of the company. Jennison Associates LLC bought a new position in shares of CVS Health in the fourth quarter worth approximately $14,099,000. Copeland Capital Management LLC purchased a new position in shares of CVS Health in the fourth quarter worth $104,000. Avantra Family Wealth Inc. purchased a new stake in shares of CVS Health during the fourth quarter valued at $506,000. Spire Wealth Management lifted its stake in CVS Health by 27.0% during the 4th quarter. Spire Wealth Management now owns 12,397 shares of the pharmacy operator’s stock valued at $556,000 after acquiring an additional 2,634 shares during the period. Finally, Deroy & Devereaux Private Investment Counsel Inc. bought a new stake in shares of CVS Health in the fourth quarter worth approximately $17,709,000. 80.66% of the stock is owned by institutional investors.

CVS Health Stock Performance

Shares of NYSE:CVS opened at $55.99 on Tuesday. CVS Health Co. has a 52 week low of $43.56 and a 52 week high of $80.75. The firm has a 50 day moving average of $51.24 and a 200 day moving average of $56.13. The company has a market capitalization of $70.46 billion, a price-to-earnings ratio of 14.21, a price-to-earnings-growth ratio of 0.62 and a beta of 0.61. The company has a quick ratio of 0.59, a current ratio of 0.80 and a debt-to-equity ratio of 0.80.

CVS Health (NYSE:CVS) last issued its quarterly earnings data on Wednesday, November 6th. The pharmacy operator reported $1.09 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.08 by $0.01. The firm had revenue of $95.43 billion for the quarter, compared to the consensus estimate of $92.72 billion. CVS Health had a net margin of 1.36% and a return on equity of 10.72%. The company’s quarterly revenue was up 6.3% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $2.21 EPS. On average, sell-side analysts predict that CVS Health Co. will post 5.14 earnings per share for the current fiscal year.

CVS Health Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, February 3rd. Investors of record on Thursday, January 23rd were given a $0.665 dividend. This represents a $2.66 annualized dividend and a dividend yield of 4.75%. The ex-dividend date was Thursday, January 23rd. CVS Health’s payout ratio is 67.51%.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on CVS shares. Evercore ISI boosted their target price on shares of CVS Health from $60.00 to $65.00 and gave the company an “outperform” rating in a research note on Monday, January 27th. TD Cowen raised their price objective on shares of CVS Health from $73.00 to $80.00 and gave the stock a “buy” rating in a report on Monday, November 25th. Barclays dropped their price target on shares of CVS Health from $75.00 to $71.00 and set an “overweight” rating on the stock in a research note on Thursday, November 7th. Mizuho cut their price objective on CVS Health from $73.00 to $66.00 and set an “outperform” rating for the company in a research note on Thursday, October 24th. Finally, StockNews.com cut CVS Health from a “hold” rating to a “sell” rating in a report on Thursday, November 14th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and fourteen have given a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $68.12.

CVS Health Company 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.