Plimoth Trust Co. LLC Sells 7,030 Shares of CVS Health Co. (NYSE:CVS)

Plimoth Trust Co. LLC lessened its position in CVS Health Co. (NYSE:CVS) by 15.1% in the third quarter, HoldingsChannel reports. The fund owned 39,607 shares of the pharmacy operator’s stock after selling 7,030 shares during the quarter. Plimoth Trust Co. LLC’s holdings in CVS Health were worth $2,490,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Livelsberger Financial Advisory acquired a new position in CVS Health during the third quarter worth $31,000. First Community Trust NA boosted its stake in CVS Health by 116.2% during the 2nd 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 during the last quarter. Kathleen S. Wright Associates Inc. purchased a new position in shares of CVS Health during the third quarter valued at approximately $33,000. Steph & Co. raised its position in CVS Health by 192.0% in the 1st quarter. Steph & Co. now owns 438 shares of the pharmacy operator’s stock valued at $35,000 after buying an additional 288 shares during the last quarter. Finally, ORG Partners LLC grew its stake in shares of CVS Health by 11,840.0% in the 2nd quarter. ORG Partners LLC now owns 597 shares of the pharmacy operator’s stock worth $35,000 after acquiring an additional 592 shares in the last quarter. Institutional investors own 80.66% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on the stock. Evercore ISI upped their price objective on shares of 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 cut their price objective on CVS Health from $64.00 to $63.00 and set a “hold” rating on the stock in a research report on Friday, August 9th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $68.00 target price on shares of CVS Health in a research report on Wednesday, September 4th. Wells Fargo & Company raised their price objective on shares of CVS Health from $60.00 to $61.00 and gave the stock an “equal weight” rating in a report on Monday, August 12th. Finally, Cantor Fitzgerald reissued a “neutral” rating and set a $62.00 target price on shares of CVS Health in a research report on Tuesday, October 1st. Nine investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $75.26.

CVS Health Price Performance

NYSE CVS traded down $2.17 during trading hours on Monday, hitting $58.17. The company had a trading volume of 13,518,228 shares, compared to its average volume of 11,239,656. The firm has a 50 day simple moving average of $59.80 and a 200 day simple moving average of $60.43. CVS Health Co. has a 52 week low of $52.77 and a 52 week high of $83.25. The firm has a market capitalization of $73.03 billion, a price-to-earnings ratio of 10.60, a PEG ratio of 0.93 and a beta of 0.54. The company has a debt-to-equity ratio of 0.83, a quick ratio of 0.66 and a current ratio of 0.86.

CVS Health (NYSE:CVS) last issued its quarterly earnings data on Wednesday, August 7th. The pharmacy operator reported $1.83 EPS for the quarter, beating the consensus estimate of $1.73 by $0.10. CVS Health had a net margin of 1.98% and a return on equity of 12.72%. The company had revenue of $91.23 billion during the quarter, compared to analysts’ expectations of $91.41 billion. During the same quarter in the previous year, the company earned $2.21 earnings per share. CVS Health’s revenue for the quarter was up 2.6% on a year-over-year basis. Equities research analysts expect that CVS Health Co. will post 6.51 earnings per share for the current year.

CVS Health Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 1st. Investors of record on Monday, October 21st will be paid a dividend of $0.665 per share. This represents a $2.66 annualized dividend and a yield of 4.57%. The ex-dividend date is Monday, October 21st. CVS Health’s dividend payout ratio is 46.75%.

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.