Bellevue Group AG Sells 9,437 Shares of CVS Health Co. (NYSE:CVS)

Bellevue Group AG reduced its position in CVS Health Co. (NYSE:CVS) by 30.0% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 22,066 shares of the pharmacy operator’s stock after selling 9,437 shares during the quarter. Bellevue Group AG’s holdings in CVS Health were worth $1,760,000 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. USA Financial Formulas lifted its position in CVS Health by 573.2% in the fourth quarter. USA Financial Formulas now owns 377 shares of the pharmacy operator’s stock worth $30,000 after purchasing an additional 321 shares during the period. Ables Iannone Moore & Associates Inc. bought a new position in shares of CVS Health during the 4th quarter valued at about $32,000. Creekmur Asset Management LLC bought a new stake in CVS Health in the 4th quarter valued at approximately $34,000. Steph & Co. lifted its stake in CVS Health by 192.0% in the 1st quarter. Steph & Co. now owns 438 shares of the pharmacy operator’s stock valued at $35,000 after acquiring an additional 288 shares in the last quarter. Finally, Kapitalo Investimentos Ltda bought a new stake in CVS Health in the 4th quarter valued at approximately $36,000. 80.66% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on CVS shares. Mizuho dropped their price objective on CVS Health from $86.00 to $72.00 and set a “buy” rating on the stock in a research note on Thursday, May 2nd. JPMorgan Chase & Co. dropped their price objective on CVS Health from $101.00 to $86.00 and set an “overweight” rating on the stock in a research note on Thursday, May 30th. Truist Financial restated a “buy” rating and issued a $66.00 price target (down previously from $90.00) on shares of CVS Health in a research note on Thursday, May 2nd. Wells Fargo & Company dropped their price target on CVS Health from $76.00 to $60.00 and set an “equal weight” rating on the stock in a research note on Tuesday, May 7th. Finally, Bank of America dropped their price target on CVS Health from $95.00 to $77.00 and set a “buy” rating on the stock in a research note on Thursday, May 2nd. Eleven research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $75.05.

Insider Buying and Selling at CVS Health

In related news, Director Edward J. Ludwig acquired 1,000 shares of the firm’s stock in a transaction that occurred on 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 purchase, the director now owns 21,630 shares in the company, valued at approximately $1,165,424.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 0.24% of the company’s stock.

CVS Health Trading Up 1.0 %

CVS stock traded up $0.62 during mid-day trading on Monday, reaching $61.62. The company’s stock had a trading volume of 3,556,830 shares, compared to its average volume of 11,554,394. The company has a market cap of $77.36 billion, a price-to-earnings ratio of 10.61, a price-to-earnings-growth ratio of 0.58 and a beta of 0.52. The business’s 50 day moving average price is $58.85 and its 200 day moving average price is $67.30. The company has a current ratio of 0.81, a quick ratio of 0.61 and a debt-to-equity ratio of 0.78. CVS Health Co. has a 12 month low of $52.77 and a 12 month high of $83.25.

CVS Health (NYSE:CVS) last announced its earnings results on Wednesday, May 1st. The pharmacy operator reported $1.31 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.69 by ($0.38). The company had revenue of $88.44 billion for the quarter, compared to analysts’ expectations of $89.33 billion. CVS Health had a net margin of 2.03% and a return on equity of 13.53%. The firm’s quarterly revenue was up 3.7% on a year-over-year basis. During the same period in the previous year, the firm earned $2.20 EPS. On average, equities research analysts predict that CVS Health Co. will post 7 EPS for the current year.

CVS Health Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, August 1st. Shareholders of record on Monday, July 22nd will be paid a $0.665 dividend. The ex-dividend date of this dividend is Monday, July 22nd. This represents a $2.66 annualized dividend and a dividend yield of 4.32%. CVS Health’s payout ratio is presently 46.75%.

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.