CVS Health Co. (NYSE:CVS) Shares Sold by Glenmede Trust Co. NA

Glenmede Trust Co. NA trimmed its position in shares of CVS Health Co. (NYSE:CVS) by 46.9% in the third quarter, HoldingsChannel reports. The firm owned 176,549 shares of the pharmacy operator’s stock after selling 156,241 shares during the period. Glenmede Trust Co. NA’s holdings in CVS Health were worth $11,101,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors also recently made changes to their positions in the company. Thematics Asset Management grew its holdings in CVS Health by 1.9% in the 3rd quarter. Thematics Asset Management now owns 57,376 shares of the pharmacy operator’s stock worth $3,608,000 after buying an additional 1,064 shares in the last quarter. Avestar Capital LLC bought a new position in shares of CVS Health in the third quarter worth $326,000. Quantbot Technologies LP acquired a new position in shares of CVS Health during the third quarter valued at $6,902,000. West Tower Group LLC bought a new stake in shares of CVS Health during the third quarter valued at about $302,000. Finally, The Manufacturers Life Insurance Company lifted its holdings in CVS Health by 7.8% in the third quarter. The Manufacturers Life Insurance Company now owns 1,096,238 shares of the pharmacy operator’s stock worth $68,931,000 after purchasing an additional 79,132 shares during the period. Institutional investors and hedge funds own 80.66% of the company’s stock.

CVS Health Trading Down 0.2 %

Shares of NYSE CVS opened at $59.82 on Friday. The company has a current ratio of 0.80, a quick ratio of 0.59 and a debt-to-equity ratio of 0.80. CVS Health Co. has a one year low of $52.71 and a one year high of $83.25. The business has a 50-day moving average price of $59.36 and a two-hundred day moving average price of $58.74. The firm has a market capitalization of $75.28 billion, a PE ratio of 15.18, a PEG ratio of 1.02 and a beta of 0.55.

CVS Health (NYSE:CVS) last announced its quarterly earnings data on Wednesday, November 6th. The pharmacy operator reported $1.09 EPS for the quarter, beating 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 firm’s revenue was up 6.3% on a year-over-year basis. During the same period in the previous year, the firm posted $2.21 earnings per share. As a group, analysts predict that CVS Health Co. will post 5.37 earnings per share for the current fiscal year.

CVS Health Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, November 1st. Investors of record on Monday, October 21st were given a dividend of $0.665 per share. The ex-dividend date of this dividend was Monday, October 21st. This represents a $2.66 dividend on an annualized basis and a yield of 4.45%. CVS Health’s payout ratio is 67.51%.

Wall Street Analysts Forecast Growth

CVS has been the topic of a number of recent analyst reports. Piper Sandler dropped their price target on shares of CVS Health from $72.00 to $64.00 and set an “overweight” rating on the stock in a research report on Monday, November 25th. Cantor Fitzgerald restated a “neutral” rating and issued a $62.00 target price on shares of CVS Health in a research report on Tuesday, October 1st. Mizuho lowered their price target on CVS Health from $73.00 to $66.00 and set an “outperform” rating on the stock in a research report on Thursday, October 24th. StockNews.com lowered CVS Health from a “hold” rating to a “sell” rating in a report on Thursday, November 14th. Finally, Evercore ISI lifted their target price on CVS Health from $62.00 to $75.00 and gave the stock an “outperform” rating in a report on Tuesday, October 8th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and thirteen have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $70.33.

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.