Kentucky Retirement Systems Cuts Stake in CVS Health Co. (NYSE:CVS)

Kentucky Retirement Systems trimmed its position in CVS Health Co. (NYSE:CVS) by 7.4% during the 3rd quarter, HoldingsChannel reports. The institutional investor owned 87,638 shares of the pharmacy operator’s stock after selling 6,962 shares during the quarter. Kentucky Retirement Systems’ holdings in CVS Health were worth $5,511,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the company. Garland Capital Management Inc. boosted its stake in shares of CVS Health by 0.3% in the second quarter. Garland Capital Management Inc. now owns 60,810 shares of the pharmacy operator’s stock worth $3,591,000 after acquiring an additional 160 shares during the last quarter. Sound Income Strategies LLC boosted its position in CVS Health by 7.2% during the third quarter. Sound Income Strategies LLC now owns 2,397 shares of the pharmacy operator’s stock worth $151,000 after acquiring an additional 162 shares during the last quarter. Plimoth Trust Co. LLC grew its stake in CVS Health by 0.4% during the 2nd quarter. Plimoth Trust Co. LLC now owns 46,637 shares of the pharmacy operator’s stock valued at $2,754,000 after acquiring an additional 174 shares in the last quarter. Hexagon Capital Partners LLC lifted its stake in 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 in the last quarter. Finally, Pallas Capital Advisors LLC boosted its holdings in shares of CVS Health by 2.5% during the 2nd quarter. Pallas Capital Advisors LLC now owns 7,458 shares of the pharmacy operator’s stock worth $447,000 after purchasing an additional 183 shares during the last quarter. 80.66% of the stock is currently owned by hedge funds and other institutional investors.

CVS Health Trading Down 3.4 %

Shares of NYSE CVS opened at $53.19 on Friday. The stock has a fifty day simple moving average of $59.23 and a 200-day simple moving average of $58.66. CVS Health Co. has a twelve month low of $52.71 and a twelve month high of $83.25. 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 market capitalization of $66.93 billion, a PE ratio of 13.50, a PEG ratio of 0.92 and a beta of 0.55.

CVS Health (NYSE:CVS) last issued its quarterly earnings results on Wednesday, November 6th. The pharmacy operator reported $1.09 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.08 by $0.01. CVS Health had a net margin of 1.36% and a return on equity of 10.72%. The company had revenue of $95.43 billion for the quarter, compared to analyst estimates of $92.72 billion. During the same period in the prior year, the firm earned $2.21 earnings per share. The business’s revenue for the quarter was up 6.3% compared to the same quarter last year. On average, equities analysts forecast that CVS Health Co. will post 5.48 earnings per share for the current year.

CVS Health Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, November 1st. Shareholders of record on Monday, October 21st were given a $0.665 dividend. The ex-dividend date was Monday, October 21st. This represents a $2.66 annualized dividend and a yield of 5.00%. CVS Health’s dividend payout ratio is presently 67.51%.

Analyst Upgrades and Downgrades

Several research firms recently commented on CVS. TD Cowen raised CVS Health from a “hold” rating to a “buy” rating and increased their price target for the company from $59.00 to $85.00 in a report on Friday, October 4th. Deutsche Bank Aktiengesellschaft reduced their price target on CVS Health from $64.00 to $63.00 and set a “hold” rating on the stock in a report on Friday, August 9th. Cantor Fitzgerald reissued a “neutral” rating and issued a $62.00 price objective on shares of CVS Health in a report on Tuesday, October 1st. Wells Fargo & Company reduced their target price on shares of 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. Finally, UBS Group increased their price target on shares of CVS Health from $60.00 to $62.00 and gave the company a “neutral” rating in a research note on Thursday, November 7th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and twelve have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $72.44.

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.