MTM Investment Management LLC Sells 579 Shares of CVS Health Co. (NYSE:CVS)

MTM Investment Management LLC trimmed its stake in shares of CVS Health Co. (NYSE:CVS) by 5.6% in the third quarter, HoldingsChannel.com reports. The fund owned 9,840 shares of the pharmacy operator’s stock after selling 579 shares during the quarter. MTM Investment Management LLC’s holdings in CVS Health were worth $636,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of the stock. MidAtlantic Capital Management Inc. bought a new position in CVS Health in the third quarter valued at approximately $25,000. Livelsberger Financial Advisory bought a new position in shares of CVS Health in the 3rd quarter valued at $31,000. Reston Wealth Management LLC bought a new stake in shares of CVS Health during the 3rd quarter worth $32,000. First Community Trust NA boosted its stake in 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 buying an additional 302 shares in the last quarter. Finally, Kathleen S. Wright Associates Inc. bought a new position in CVS Health in the third quarter valued at about $33,000. 80.66% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on CVS. 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. Truist Financial boosted 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. Mizuho dropped their target price on CVS Health from $73.00 to $66.00 and set an “outperform” rating for the company in a research report on Thursday, October 24th. StockNews.com downgraded CVS Health from a “hold” rating to a “sell” rating in a research note on Thursday, November 14th. Finally, Wells Fargo & Company upgraded shares of CVS Health from an “equal weight” rating to an “overweight” rating and lifted their target price for the stock from $60.00 to $66.00 in a research report on Monday. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and thirteen have assigned a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $72.78.

CVS Health Stock Performance

CVS stock opened at $55.82 on Wednesday. The firm has a market cap of $70.24 billion, a PE ratio of 14.17, a price-to-earnings-growth ratio of 0.92 and a beta of 0.55. The company has a current ratio of 0.80, a quick ratio of 0.59 and a debt-to-equity ratio of 0.80. The stock has a 50-day moving average price of $59.18 and a 200-day moving average price of $58.60. CVS Health Co. has a 1-year low of $52.71 and a 1-year high of $83.25.

CVS Health (NYSE:CVS) last issued its earnings results on Wednesday, November 6th. The pharmacy operator reported $1.09 earnings per share 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 the consensus estimate of $92.72 billion. CVS Health had a return on equity of 10.72% and a net margin of 1.36%. The firm’s revenue for the quarter was up 6.3% on a year-over-year basis. During the same period in the previous year, the company posted $2.21 earnings per share. As a group, equities research analysts expect that CVS Health Co. will post 5.48 earnings per share for the current year.

CVS Health Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, November 1st. Shareholders of record on Monday, October 21st were issued a $0.665 dividend. This represents a $2.66 dividend on an annualized basis and a yield of 4.77%. The ex-dividend date was Monday, October 21st. CVS Health’s payout ratio is 67.51%.

CVS Health Company 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.