Bar Harbor Wealth Management Reduces Holdings in CVS Health Co. (NYSE:CVS)

Bar Harbor Wealth Management trimmed its stake in CVS Health Co. (NYSE:CVS) by 15.0% during the second quarter, Holdings Channel.com reports. The fund owned 7,240 shares of the pharmacy operator’s stock after selling 1,282 shares during the period. Bar Harbor Wealth Management’s holdings in CVS Health were worth $428,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. USA Financial Formulas grew its stake in shares of CVS Health by 573.2% in the fourth quarter. USA Financial Formulas now owns 377 shares of the pharmacy operator’s stock valued at $30,000 after buying an additional 321 shares in the last quarter. Ables Iannone Moore & Associates Inc. purchased a new stake in shares of CVS Health during the 4th quarter worth $32,000. First Community Trust NA increased its holdings in CVS Health by 116.2% in the second quarter. First Community Trust NA now owns 562 shares of the pharmacy operator’s stock valued at $33,000 after buying an additional 302 shares during the last quarter. Creekmur Asset Management LLC acquired a new stake in CVS Health in the fourth quarter valued at $34,000. Finally, Steph & Co. boosted its position in shares of CVS Health by 192.0% during the 1st quarter. Steph & Co. now owns 438 shares of the pharmacy operator’s stock worth $35,000 after acquiring an additional 288 shares in the last quarter. Hedge funds and other institutional investors own 80.66% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms recently weighed in on CVS. Baird R W upgraded CVS Health to a “hold” rating in a research note on Thursday, May 30th. Mizuho dropped their price objective on shares of CVS Health from $86.00 to $72.00 and set a “buy” rating on the stock in a research note on Thursday, May 2nd. Wells Fargo & Company raised their price target on CVS Health from $60.00 to $61.00 and gave the stock an “equal weight” rating in a report on Monday. JPMorgan Chase & Co. decreased their target price on shares of CVS Health from $101.00 to $86.00 and set an “overweight” rating on the stock in a research report on Thursday, May 30th. Finally, SVB Leerink reiterated a “market perform” rating and issued a $60.00 price target (down previously from $87.00) on shares of CVS Health in a report on Wednesday, May 1st. Twelve equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $73.24.

CVS Health Price Performance

CVS traded up $0.66 on Friday, reaching $58.22. The company had a trading volume of 3,749,673 shares, compared to its average volume of 11,408,668. CVS Health Co. has a one year low of $52.77 and a one year high of $83.25. The company has a market capitalization of $73.09 billion, a P/E ratio of 10.12, a PEG ratio of 0.57 and a beta of 0.52. The company has a fifty day moving average of $59.11 and a 200-day moving average of $65.77. The company has a current ratio of 0.81, a quick ratio of 0.61 and a debt-to-equity ratio of 0.78.

CVS Health (NYSE:CVS) last posted its quarterly earnings data on Wednesday, August 7th. The pharmacy operator reported $1.83 EPS for the quarter, beating analysts’ consensus estimates of $1.73 by $0.10. The business had revenue of $91.23 billion for the quarter, compared to analyst estimates of $91.41 billion. CVS Health had a net margin of 2.03% and a return on equity of 13.53%. The business’s revenue for the quarter was up 2.6% on a year-over-year basis. During the same quarter last year, the business earned $2.21 earnings per share. As a group, equities research analysts anticipate that CVS Health Co. will post 7 earnings per share for the current year.

CVS Health Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, August 1st. Stockholders of record on Monday, July 22nd were issued a $0.665 dividend. The ex-dividend date was Monday, July 22nd. This represents a $2.66 dividend on an annualized basis and a dividend yield of 4.57%. 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.