CVS Health Co. (NYSE:CVS) Shares Sold by Ontario Teachers Pension Plan Board

Ontario Teachers Pension Plan Board decreased its position in CVS Health Co. (NYSE:CVS) by 50.0% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 4,351 shares of the pharmacy operator’s stock after selling 4,352 shares during the period. Ontario Teachers Pension Plan Board’s holdings in CVS Health were worth $274,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Pzena Investment Management LLC lifted its holdings in shares of CVS Health by 132.9% during the second quarter. Pzena Investment Management LLC now owns 12,936,388 shares of the pharmacy operator’s stock worth $764,023,000 after purchasing an additional 7,382,931 shares during the period. Pathway Financial Advisers LLC lifted its stake in CVS Health by 5,864.2% during the 3rd quarter. Pathway Financial Advisers LLC now owns 1,730,343 shares of the pharmacy operator’s stock valued at $108,804,000 after acquiring an additional 1,701,331 shares during the period. State of Michigan Retirement System boosted its holdings in shares of CVS Health by 402.5% in the 2nd quarter. State of Michigan Retirement System now owns 2,005,677 shares of the pharmacy operator’s stock valued at $118,455,000 after acquiring an additional 1,606,500 shares during the last quarter. Swedbank AB acquired a new stake in shares of CVS Health in the first quarter worth $110,816,000. Finally, AQR Capital Management LLC raised its holdings in shares of CVS Health by 33.5% during the second quarter. AQR Capital Management LLC now owns 5,289,788 shares of the pharmacy operator’s stock worth $310,722,000 after purchasing an additional 1,327,855 shares during the last quarter. Institutional investors and hedge funds own 80.66% of the company’s stock.

Wall Street Analysts Forecast Growth

CVS has been the topic of several analyst reports. Evercore ISI increased their price target on CVS Health from $62.00 to $75.00 and gave the stock an “outperform” rating in a research report on Tuesday, October 8th. StockNews.com lowered CVS Health from a “hold” rating to a “sell” rating in a report on Thursday, November 14th. Wells Fargo & Company upgraded CVS Health from an “equal weight” rating to an “overweight” rating and upped their price objective for the stock from $60.00 to $66.00 in a research report on Monday, November 18th. Mizuho cut their target price on shares of CVS Health from $73.00 to $66.00 and set an “outperform” rating for the company in a report on Thursday, October 24th. Finally, Cantor Fitzgerald restated a “neutral” rating and set a $62.00 price target on shares of CVS Health in a research report on Tuesday, October 1st. One analyst has rated the stock with a sell rating, seven have given a hold rating and thirteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $72.28.

CVS Health Stock Performance

Shares of NYSE:CVS opened at $58.01 on Friday. The business’s 50 day moving average price is $59.21 and its 200-day moving average price is $58.59. CVS Health Co. has a 1 year low of $52.71 and a 1 year high of $83.25. The company has a debt-to-equity ratio of 0.80, a current ratio of 0.80 and a quick ratio of 0.59. The firm has a market capitalization of $73.00 billion, a PE ratio of 14.72, a P/E/G ratio of 0.94 and a beta of 0.55.

CVS Health (NYSE:CVS) last released its earnings results 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 business had revenue of $95.43 billion during the quarter, compared to analyst estimates of $92.72 billion. CVS Health had a net margin of 1.36% and a return on equity of 10.72%. The company’s revenue for the quarter was up 6.3% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $2.21 earnings per share. As a group, equities research analysts expect that CVS Health Co. will post 5.43 earnings per share for the current fiscal year.

CVS Health Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, November 1st. Stockholders of record on Monday, October 21st were issued a dividend of $0.665 per share. This represents a $2.66 annualized dividend and a dividend yield of 4.59%. The ex-dividend date of this dividend was Monday, October 21st. CVS Health’s dividend payout ratio is currently 67.51%.

About CVS Health

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.