Beaton Management Co. Inc. Sells 250 Shares of CVS Health Co. (NYSE:CVS)

Beaton Management Co. Inc. lessened its stake in shares of CVS Health Co. (NYSE:CVS) by 2.1% during the third quarter, HoldingsChannel.com reports. The institutional investor owned 11,382 shares of the pharmacy operator’s stock after selling 250 shares during the period. Beaton Management Co. Inc.’s holdings in CVS Health were worth $716,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of the company. Garland Capital Management Inc. grew its position in CVS Health by 0.3% during the second quarter. Garland Capital Management Inc. now owns 60,810 shares of the pharmacy operator’s stock valued at $3,591,000 after buying an additional 160 shares during the period. Sound Income Strategies LLC grew its position in shares of CVS Health by 7.2% during the 3rd quarter. Sound Income Strategies LLC now owns 2,397 shares of the pharmacy operator’s stock valued at $151,000 after acquiring an additional 162 shares during the period. Plimoth Trust Co. LLC increased its stake in shares of CVS Health by 0.4% during the 2nd quarter. Plimoth Trust Co. LLC now owns 46,637 shares of the pharmacy operator’s stock worth $2,754,000 after purchasing an additional 174 shares during the last quarter. Hexagon Capital Partners LLC raised its holdings in shares of CVS Health by 3.5% in the 3rd quarter. Hexagon Capital Partners LLC now owns 5,268 shares of the pharmacy operator’s stock worth $331,000 after purchasing an additional 178 shares during the period. Finally, Pallas Capital Advisors LLC lifted its stake in CVS Health by 2.5% in the second quarter. Pallas Capital Advisors LLC now owns 7,458 shares of the pharmacy operator’s stock valued at $447,000 after purchasing an additional 183 shares during the last quarter. 80.66% of the stock is currently owned by institutional investors.

CVS Health Price Performance

Shares of NYSE CVS opened at $53.19 on Friday. The firm has a market capitalization of $66.93 billion, a P/E ratio of 13.50, a P/E/G ratio of 0.92 and a beta of 0.55. The company has a quick ratio of 0.59, a current ratio of 0.80 and a debt-to-equity ratio of 0.80. The stock’s 50-day simple moving average is $59.23 and its two-hundred day simple moving average is $58.66. CVS Health Co. has a twelve month low of $52.71 and a twelve month high of $83.25.

CVS Health (NYSE:CVS) last announced its earnings results on Wednesday, November 6th. The pharmacy operator reported $1.09 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.08 by $0.01. The business had revenue of $95.43 billion during the quarter, compared to analyst estimates of $92.72 billion. CVS Health had a net margin of 1.36% and a return on equity of 10.72%. CVS Health’s revenue for the quarter was up 6.3% on a year-over-year basis. During the same period in the previous year, the business posted $2.21 earnings per share. As a group, equities analysts anticipate that CVS Health Co. will post 5.48 EPS for the current fiscal year.

CVS Health Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, November 1st. Investors of record on Monday, October 21st were paid a $0.665 dividend. 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 5.00%. CVS Health’s dividend payout ratio is presently 67.51%.

Wall Street Analyst Weigh In

Several analysts have issued reports on the company. Wells Fargo & Company lowered their target price on CVS Health from $61.00 to $60.00 and set an “equal weight” rating on the stock in a research note on Monday, November 4th. StockNews.com cut CVS Health from a “hold” rating to a “sell” rating in a research note on Thursday. Truist Financial increased their target price on shares of CVS Health from $66.00 to $76.00 and gave the stock a “buy” rating in a research report on Friday, October 11th. TD Cowen raised shares of CVS Health from a “hold” rating to a “buy” rating and boosted their price target for the company from $59.00 to $85.00 in a research report on Friday, October 4th. Finally, Evercore ISI raised their price objective on shares of CVS Health from $62.00 to $75.00 and gave the stock an “outperform” rating in a report on Tuesday, October 8th. One research analyst has rated the stock with a sell rating, eight have given a hold rating and twelve have assigned a buy rating to the company’s stock. According to MarketBeat, CVS Health currently has an average rating of “Moderate Buy” and a consensus price target of $72.44.

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.