Lynch & Associates IN Cuts Stake in CVS Health Co. (NYSE:CVS)

Lynch & Associates IN trimmed its holdings in CVS Health Co. (NYSE:CVS) by 5.5% in the second quarter, according to the company in its most recent filing with the SEC. The fund owned 27,721 shares of the pharmacy operator’s stock after selling 1,605 shares during the quarter. Lynch & Associates IN’s holdings in CVS Health were worth $1,637,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in CVS. Chris Bulman Inc bought a new stake in CVS Health in the second quarter worth $46,000. Norden Group LLC boosted its holdings in CVS Health by 68.3% during the 2nd quarter. Norden Group LLC now owns 11,493 shares of the pharmacy operator’s stock valued at $679,000 after acquiring an additional 4,663 shares during the period. Cobblestone Capital Advisors LLC NY grew its position in CVS Health by 4.5% during the 2nd quarter. Cobblestone Capital Advisors LLC NY now owns 131,901 shares of the pharmacy operator’s stock worth $7,790,000 after acquiring an additional 5,704 shares during the last quarter. Letko Brosseau & Associates Inc. increased its stake in CVS Health by 36.6% in the 2nd quarter. Letko Brosseau & Associates Inc. now owns 1,037,265 shares of the pharmacy operator’s stock worth $61,261,000 after purchasing an additional 278,110 shares during the period. Finally, Illinois Municipal Retirement Fund lifted its position in CVS Health by 11.7% in the second quarter. Illinois Municipal Retirement Fund now owns 303,857 shares of the pharmacy operator’s stock valued at $17,946,000 after purchasing an additional 31,895 shares during the last quarter. Hedge funds and other institutional investors own 80.66% of the company’s stock.

CVS Health Price Performance

Shares of NYSE:CVS opened at $57.75 on Friday. The company has a market capitalization of $72.50 billion, a P/E ratio of 10.15, a P/E/G ratio of 0.80 and a beta of 0.53. CVS Health Co. has a 1-year low of $52.77 and a 1-year high of $83.25. The firm’s 50 day simple moving average is $58.29 and its two-hundred day simple moving average is $63.78. The company has a debt-to-equity ratio of 0.83, a current ratio of 0.86 and a quick ratio of 0.66.

CVS Health (NYSE:CVS) last released its earnings results on Wednesday, August 7th. The pharmacy operator reported $1.83 earnings per share for the quarter, beating analysts’ consensus estimates of $1.73 by $0.10. The company had revenue of $91.23 billion for the quarter, compared to analysts’ expectations of $91.41 billion. CVS Health had a net margin of 1.98% and a return on equity of 12.72%. CVS Health’s revenue for the quarter was up 2.6% on a year-over-year basis. During the same quarter in the previous year, the company earned $2.21 EPS. Research analysts expect that CVS Health Co. will post 6.52 EPS for the current fiscal year.

CVS Health Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, August 1st. Shareholders of record on Monday, July 22nd were paid a $0.665 dividend. The ex-dividend date of this dividend was Monday, July 22nd. This represents a $2.66 annualized dividend and a yield of 4.61%. CVS Health’s payout ratio is 46.75%.

Analyst Ratings Changes

CVS has been the topic of a number of recent analyst reports. Robert W. Baird started coverage on shares of CVS Health in a report on Thursday, May 30th. They issued a “neutral” rating and a $61.00 price target on the stock. Baird R W upgraded CVS Health to a “hold” rating in a report on Thursday, May 30th. Evercore ISI dropped their price objective on CVS Health from $65.00 to $62.00 and set an “outperform” rating for the company in a report on Thursday, August 8th. Barclays reduced their target price on CVS Health from $65.00 to $63.00 and set an “equal weight” rating on the stock in a research note on Thursday, August 8th. Finally, Cantor Fitzgerald reaffirmed a “neutral” rating and issued a $62.00 price target on shares of CVS Health in a research note on Monday, August 19th. Eleven research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to MarketBeat, CVS Health has a consensus rating of “Moderate Buy” and a consensus price target of $72.48.

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.