CVS Health Co. (NYSE:CVS) Shares Sold by Ontario Teachers Pension Plan Board

Ontario Teachers Pension Plan Board reduced its stake in shares of CVS Health Co. (NYSE:CVS) by 51.1% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 34,446 shares of the pharmacy operator’s stock after selling 36,060 shares during the period. Ontario Teachers Pension Plan Board’s holdings in CVS Health were worth $2,720,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in the stock. Norges Bank acquired a new position in shares of CVS Health in the 4th quarter valued at about $1,092,040,000. FMR LLC boosted its holdings in shares of CVS Health by 29.1% in the 3rd 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 during the period. Clearbridge Investments LLC boosted its holdings in shares of CVS Health by 306.6% in the 4th quarter. Clearbridge Investments LLC now owns 3,046,216 shares of the pharmacy operator’s stock valued at $240,529,000 after buying an additional 2,297,100 shares during the period. International Assets Investment Management LLC boosted its holdings in shares of CVS Health by 8,697.2% in the 4th quarter. International Assets Investment Management LLC now owns 1,322,129 shares of the pharmacy operator’s stock valued at $104,395,000 after buying an additional 1,307,100 shares during the period. Finally, Canoe Financial LP boosted its holdings in shares of CVS Health by 95.1% in the 4th quarter. Canoe Financial LP now owns 1,762,629 shares of the pharmacy operator’s stock valued at $139,177,000 after buying an additional 859,134 shares during the period. 80.66% of the stock is owned by institutional investors and hedge funds.

CVS Health Trading Down 0.5 %

Shares of CVS Health stock traded down $0.29 during trading on Thursday, hitting $57.15. The stock had a trading volume of 2,847,215 shares, compared to its average volume of 11,851,757. The stock has a 50 day simple moving average of $67.98 and a 200 day simple moving average of $72.13. The company has a market capitalization of $71.74 billion, a PE ratio of 10.04, a P/E/G ratio of 0.55 and a beta of 0.56. The company has a quick ratio of 0.61, a current ratio of 0.81 and a debt-to-equity ratio of 0.78. CVS Health Co. has a 1 year low of $53.70 and a 1 year high of $83.25.

CVS Health (NYSE:CVS) last released its earnings results on Wednesday, May 1st. The pharmacy operator reported $1.31 earnings per share for the quarter, missing the consensus estimate of $1.69 by ($0.38). CVS Health had a return on equity of 13.53% and a net margin of 2.03%. The firm had revenue of $88.44 billion during the quarter, compared to analysts’ expectations of $89.33 billion. During the same period last year, the business earned $2.20 earnings per share. The business’s revenue was up 3.7% on a year-over-year basis. On average, research analysts expect that CVS Health Co. will post 7.02 EPS for the current fiscal year.

CVS Health Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, May 1st. Investors of record on Monday, April 22nd were given a dividend of $0.665 per share. This represents a $2.66 dividend on an annualized basis and a yield of 4.65%. The ex-dividend date of this dividend was Friday, April 19th. CVS Health’s payout ratio is presently 46.75%.

Analyst Upgrades and Downgrades

CVS has been the subject of several research reports. TD Cowen lowered shares of CVS Health from a “buy” rating to a “hold” rating and decreased their price target for the company from $99.00 to $59.00 in a report on Tuesday, May 7th. Barclays cut their price objective on shares of CVS Health from $78.00 to $63.00 and set an “equal weight” rating on the stock in a research report on Thursday, May 2nd. The Goldman Sachs Group cut their price objective on shares of CVS Health from $85.00 to $74.00 and set a “buy” rating on the stock in a research report on Thursday, May 2nd. UBS Group downgraded shares of CVS Health from a “buy” rating to a “neutral” rating and cut their price objective for the company from $85.00 to $60.00 in a research report on Thursday, May 2nd. Finally, Bank of America dropped their price target on shares of CVS Health from $95.00 to $77.00 and set a “buy” rating on the stock in a research report on Thursday, May 2nd. Nine research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. According to MarketBeat, CVS Health presently has an average rating of “Moderate Buy” and a consensus price target of $76.75.

Insider Activity at CVS Health

In related news, Director Edward J. Ludwig acquired 1,000 shares of the stock in a transaction that occurred on Thursday, May 2nd. The shares were purchased at an average cost of $53.88 per share, with a total value of $53,880.00. Following the completion of the transaction, the director now owns 21,630 shares of the company’s stock, valued at approximately $1,165,424.40. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 0.24% of the stock is currently owned by insiders.

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.