Nexus Investment Management ULC Lowers Position in CVS Health Co. (NYSE:CVS)

Nexus Investment Management ULC decreased its holdings in shares of CVS Health Co. (NYSE:CVSFree Report) by 0.5% during the fourth quarter, according to its most recent filing with the SEC. The firm owned 395,292 shares of the pharmacy operator’s stock after selling 1,985 shares during the period. CVS Health accounts for about 1.8% of Nexus Investment Management ULC’s portfolio, making the stock its 28th largest position. Nexus Investment Management ULC’s holdings in CVS Health were worth $17,745,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of CVS. HB Wealth Management LLC boosted its position in CVS Health by 12.7% during the fourth quarter. HB Wealth Management LLC now owns 20,029 shares of the pharmacy operator’s stock valued at $899,000 after purchasing an additional 2,262 shares in the last quarter. Avanza Fonder AB purchased a new stake in shares of CVS Health during the fourth quarter valued at about $4,745,000. Sterling Financial Group Inc. grew its position in shares of CVS Health by 16.4% in the 4th quarter. Sterling Financial Group Inc. now owns 15,363 shares of the pharmacy operator’s stock worth $690,000 after buying an additional 2,169 shares during the last quarter. Empirical Asset Management LLC grew its position in shares of CVS Health by 816.4% in the 4th quarter. Empirical Asset Management LLC now owns 36,885 shares of the pharmacy operator’s stock worth $1,656,000 after buying an additional 32,860 shares during the last quarter. Finally, Dixon Mitchell Investment Counsel Inc. lifted its position in CVS Health by 38.7% during the fourth quarter. Dixon Mitchell Investment Counsel Inc. now owns 1,168 shares of the pharmacy operator’s stock valued at $52,000 after acquiring an additional 326 shares during the last quarter. Institutional investors own 80.66% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on CVS. Deutsche Bank Aktiengesellschaft raised CVS Health from a “hold” rating to a “buy” rating and set a $66.00 price target on the stock in a research report on Tuesday, December 3rd. StockNews.com cut CVS Health from a “hold” rating to a “sell” rating in a research note on Thursday, November 14th. Wells Fargo & Company upgraded CVS Health from an “equal weight” rating to an “overweight” rating and boosted their price target for the stock from $60.00 to $66.00 in a research note on Monday, November 18th. Piper Sandler decreased their price objective on shares of CVS Health from $72.00 to $64.00 and set an “overweight” rating for the company in a research report on Monday, November 25th. Finally, Barclays dropped their target price on shares of CVS Health from $75.00 to $71.00 and set an “overweight” rating on the stock in a research report on Thursday, November 7th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and thirteen have given a buy rating to the stock. According to data from MarketBeat.com, CVS Health currently has an average rating of “Moderate Buy” and an average target price of $68.71.

View Our Latest Research Report on CVS Health

CVS Health Price Performance

Shares of CVS opened at $52.72 on Friday. The business’s 50-day moving average is $51.34 and its two-hundred day moving average is $56.34. The company has a market capitalization of $66.35 billion, a P/E ratio of 13.38, a P/E/G ratio of 0.72 and a beta of 0.59. CVS Health Co. has a fifty-two week low of $43.56 and a fifty-two week high of $80.75. The company has a debt-to-equity ratio of 0.80, a quick ratio of 0.59 and a current ratio of 0.80.

CVS Health (NYSE:CVSGet Free Report) last announced its quarterly 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 return on equity of 10.72% and a net margin of 1.36%. The company had revenue of $95.43 billion during the quarter, compared to analysts’ expectations of $92.72 billion. During the same period last year, the business earned $2.21 earnings per share. CVS Health’s quarterly revenue was up 6.3% on a year-over-year basis. Research analysts predict that CVS Health Co. will post 5.22 earnings per share for the current year.

CVS Health Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, February 3rd. Investors of record on Thursday, January 23rd will be given a dividend of $0.665 per share. The ex-dividend date of this dividend is Thursday, January 23rd. This represents a $2.66 annualized dividend and a yield of 5.05%. CVS Health’s dividend payout ratio is presently 67.51%.

CVS Health Company Profile

(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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