CVS Health Co. (NYSE:CVS) Shares Sold by Oder Investment Management LLC

Oder Investment Management LLC lowered its holdings in CVS Health Co. (NYSE:CVS) by 20.6% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 6,525 shares of the pharmacy operator’s stock after selling 1,696 shares during the quarter. Oder Investment Management LLC’s holdings in CVS Health were worth $515,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. FMR LLC grew its stake in shares of CVS Health by 29.1% in the third quarter. FMR LLC now owns 27,487,238 shares of the pharmacy operator’s stock valued at $1,919,159,000 after buying an additional 6,194,441 shares in the last quarter. International Assets Investment Management LLC grew its stake in CVS Health by 8,697.2% during the 4th quarter. International Assets Investment Management LLC now owns 1,322,129 shares of the pharmacy operator’s stock worth $104,395,000 after purchasing an additional 1,307,100 shares in the last quarter. Canada Pension Plan Investment Board grew its stake in CVS Health by 49.9% during the 3rd quarter. Canada Pension Plan Investment Board now owns 2,095,978 shares of the pharmacy operator’s stock worth $146,341,000 after purchasing an additional 698,054 shares in the last quarter. Pacer Advisors Inc. lifted its holdings in CVS Health by 12.6% during the 4th quarter. Pacer Advisors Inc. now owns 5,513,230 shares of the pharmacy operator’s stock worth $435,325,000 after buying an additional 616,785 shares during the last quarter. Finally, J.P. Morgan Private Wealth Advisors LLC purchased a new stake in CVS Health during the 3rd quarter worth about $34,379,000. Hedge funds and other institutional investors own 80.66% of the company’s stock.

CVS Health Price Performance

NYSE:CVS traded down $11.30 during trading hours on Wednesday, reaching $56.41. 36,896,269 shares of the company traded hands, compared to its average volume of 10,910,134. CVS Health Co. has a 1-year low of $54.00 and a 1-year high of $83.25. The stock has a market cap of $71.10 billion, a P/E ratio of 8.58, a P/E/G ratio of 0.89 and a beta of 0.52. The firm’s 50-day moving average is $74.05 and its 200-day moving average is $73.62. The company has a debt-to-equity ratio of 0.77, a current ratio of 0.86 and a quick ratio of 0.63.

CVS Health (NYSE:CVS) last issued its quarterly earnings results on Wednesday, February 7th. The pharmacy operator reported $2.12 earnings per share for the quarter, topping analysts’ consensus estimates of $2.01 by $0.11. CVS Health had a return on equity of 15.25% and a net margin of 2.33%. The company had revenue of $93.81 billion for the quarter, compared to analyst estimates of $90.58 billion. During the same quarter in the prior year, the company posted $1.99 EPS. The business’s revenue for the quarter was up 11.9% compared to the same quarter last year. Equities research analysts expect that CVS Health Co. will post 8.31 earnings per share for the current fiscal year.

CVS Health Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, May 1st. Shareholders of record on Monday, April 22nd will be paid a dividend of $0.665 per share. This represents a $2.66 dividend on an annualized basis and a dividend yield of 4.72%. The ex-dividend date of this dividend is Friday, April 19th. CVS Health’s dividend payout ratio is presently 41.18%.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on CVS. SVB Leerink assumed coverage on CVS Health in a report on Monday, February 26th. They set an “outperform” rating and a $88.00 price target for the company. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $87.00 price objective on shares of CVS Health in a research note on Wednesday, April 10th. Wells Fargo & Company reduced their price objective on CVS Health from $83.00 to $76.00 and set an “equal weight” rating for the company in a research note on Monday, April 8th. Piper Sandler upped their price objective on CVS Health from $93.00 to $94.00 and gave the company an “overweight” rating in a research note on Friday, March 15th. Finally, Barclays started coverage on CVS Health in a research note on Wednesday, March 6th. They set an “equal weight” rating and a $78.00 price objective for the company. Four investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to data from MarketBeat.com, CVS Health has an average rating of “Moderate Buy” and an average target price of $89.44.

Insiders Place Their Bets

In other CVS Health news, EVP Prem S. Shah sold 29,473 shares of the stock in a transaction on Friday, February 16th. The stock was sold at an average price of $76.95, for a total transaction of $2,267,947.35. Following the transaction, the executive vice president now owns 39,765 shares of the company’s stock, valued at approximately $3,059,916.75. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Corporate insiders own 0.24% of the company’s stock.

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.