Boston Financial Mangement LLC Reduces Stock Position in CVS Health Co. (NYSE:CVS)

Boston Financial Mangement LLC cut its stake in CVS Health Co. (NYSE:CVSFree Report) by 9.4% in the third quarter, Holdings Channel.com reports. The firm owned 6,145 shares of the pharmacy operator’s stock after selling 641 shares during the quarter. Boston Financial Mangement LLC’s holdings in CVS Health were worth $386,000 at the end of the most recent reporting period.

Other large investors have also made changes to their positions in the company. Livelsberger Financial Advisory purchased a new stake in shares of CVS Health in the third quarter valued at approximately $31,000. First Community Trust NA grew its position in shares of CVS Health by 116.2% in the second quarter. First Community Trust NA now owns 562 shares of the pharmacy operator’s stock valued at $33,000 after purchasing an additional 302 shares in the last quarter. Kathleen S. Wright Associates Inc. purchased a new stake in shares of CVS Health in the third quarter valued at approximately $33,000. ORG Partners LLC grew its position in shares of CVS Health by 11,840.0% in the second quarter. ORG Partners LLC now owns 597 shares of the pharmacy operator’s stock valued at $35,000 after purchasing an additional 592 shares in the last quarter. Finally, Oliver Lagore Vanvalin Investment Group grew its position in CVS Health by 71.0% in the second quarter. Oliver Lagore Vanvalin Investment Group now owns 595 shares of the pharmacy operator’s stock worth $35,000 after acquiring an additional 247 shares during the period. 80.66% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research analysts recently weighed in on the company. Cantor Fitzgerald reiterated a “neutral” rating and issued a $62.00 price objective on shares of CVS Health in a research report on Tuesday, October 1st. Evercore ISI increased their price objective on CVS Health from $62.00 to $75.00 and gave the stock an “outperform” rating in a research report on Tuesday, October 8th. Deutsche Bank Aktiengesellschaft lowered their price objective on CVS Health from $64.00 to $63.00 and set a “hold” rating for the company in a research report on Friday, August 9th. Royal Bank of Canada reiterated an “outperform” rating and issued a $68.00 price objective on shares of CVS Health in a research report on Wednesday, September 4th. Finally, Truist Financial increased their price objective on CVS Health from $66.00 to $76.00 and gave the stock a “buy” rating in a research report on Friday, October 11th. Nine analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. Based on data from MarketBeat, CVS Health has an average rating of “Moderate Buy” and an average target price of $74.58.

Get Our Latest Research Report on CVS Health

CVS Health Trading Down 1.9 %

NYSE:CVS opened at $56.29 on Wednesday. The firm has a market cap of $70.66 billion, a PE ratio of 9.89, a price-to-earnings-growth ratio of 0.84 and a beta of 0.54. The stock has a fifty day moving average price of $59.73 and a 200 day moving average price of $59.67. CVS Health Co. has a 12-month low of $52.77 and a 12-month high of $83.25. The company has a current ratio of 0.86, a quick ratio of 0.66 and a debt-to-equity ratio of 0.83.

CVS Health (NYSE:CVSGet Free Report) last released its earnings results on Wednesday, August 7th. The pharmacy operator reported $1.83 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.73 by $0.10. The firm had revenue of $91.23 billion during the quarter, compared to analyst estimates of $91.41 billion. CVS Health had a return on equity of 12.72% and a net margin of 1.98%. CVS Health’s revenue was up 2.6% compared to the same quarter last year. During the same period last year, the business posted $2.21 earnings per share. Sell-side analysts anticipate that CVS Health Co. will post 6.41 earnings per share for the current fiscal year.

CVS Health Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 1st. Shareholders of record on Monday, October 21st will be issued a dividend of $0.665 per share. This represents a $2.66 dividend on an annualized basis and a yield of 4.73%. The ex-dividend date is Monday, October 21st. CVS Health’s dividend payout ratio (DPR) is 46.75%.

About CVS Health

(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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