CVS Health Co. (NYSE:CVS) Shares Sold by Cypress Capital Group

Cypress Capital Group cut its position in shares of CVS Health Co. (NYSE:CVS) by 35.4% during the 2nd quarter, HoldingsChannel.com reports. The firm owned 6,334 shares of the pharmacy operator’s stock after selling 3,467 shares during the period. Cypress Capital Group’s holdings in CVS Health were worth $374,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

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

Analysts Set New Price Targets

Several brokerages have weighed in on CVS. SVB Leerink reaffirmed a “market perform” rating and issued a $60.00 target price (down from $87.00) on shares of CVS Health in a research report on Wednesday, May 1st. Evercore ISI cut their price objective on shares of CVS Health from $65.00 to $62.00 and set an “outperform” rating on the stock in a research report on Thursday, August 8th. JPMorgan Chase & Co. decreased their target price on shares of CVS Health from $101.00 to $86.00 and set an “overweight” rating for the company in a research report on Thursday, May 30th. Leerink Partnrs cut CVS Health from an “outperform” rating to a “market perform” rating in a report on Wednesday, May 1st. Finally, The Goldman Sachs Group decreased their price objective on CVS Health from $85.00 to $74.00 and set a “buy” rating for the company in a report on Thursday, May 2nd. Eleven 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.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $73.24.

CVS Health Price Performance

CVS stock traded up $0.59 on Monday, hitting $59.34. 2,071,090 shares of the company’s stock traded hands, compared to its average volume of 11,232,980. The company has a current ratio of 0.81, a quick ratio of 0.61 and a debt-to-equity ratio of 0.78. The stock has a market cap of $74.49 billion, a price-to-earnings ratio of 10.33, a P/E/G ratio of 0.57 and a beta of 0.52. CVS Health Co. has a 1-year low of $52.77 and a 1-year high of $83.25. The stock has a fifty day moving average of $58.86 and a 200-day moving average of $65.01.

CVS Health (NYSE:CVS) last issued its earnings results on Wednesday, August 7th. The pharmacy operator reported $1.83 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.73 by $0.10. CVS Health had a return on equity of 13.53% and a net margin of 2.03%. The business had revenue of $91.23 billion for the quarter, compared to analysts’ expectations of $91.41 billion. During the same period in the previous year, the firm posted $2.21 EPS. The company’s quarterly revenue was up 2.6% on a year-over-year basis. On average, analysts forecast that CVS Health Co. will post 7 EPS for the current fiscal year.

CVS Health Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, August 1st. Stockholders of record on Monday, July 22nd were given a $0.665 dividend. This represents a $2.66 annualized dividend and a dividend yield of 4.48%. The ex-dividend date of this dividend was Monday, July 22nd. CVS Health’s dividend payout ratio (DPR) is currently 46.75%.

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.