Mengis Capital Management Inc. Sells 3,347 Shares of CVS Health Co. (NYSE:CVS)

Mengis Capital Management Inc. decreased its stake in shares of CVS Health Co. (NYSE:CVS) by 6.7% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 46,389 shares of the pharmacy operator’s stock after selling 3,347 shares during the quarter. Mengis Capital Management Inc.’s holdings in CVS Health were worth $2,917,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Garland Capital Management Inc. boosted its stake in shares of CVS Health by 0.3% during the 2nd 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 period. 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 purchasing an additional 162 shares during the period. Plimoth Trust Co. LLC increased its holdings in shares of CVS Health by 0.4% in the second quarter. Plimoth Trust Co. LLC now owns 46,637 shares of the pharmacy operator’s stock valued at $2,754,000 after purchasing an additional 174 shares during the last quarter. Hexagon Capital Partners LLC lifted its stake in shares of CVS Health by 3.5% during the 3rd quarter. Hexagon Capital Partners LLC now owns 5,268 shares of the pharmacy operator’s stock worth $331,000 after buying an additional 178 shares during 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 buying an additional 183 shares during the period. 80.66% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several analysts recently issued reports on CVS shares. Cantor Fitzgerald restated a “neutral” rating and issued a $62.00 price target on shares of CVS Health in a research note on Tuesday, October 1st. Wells Fargo & Company decreased their price target 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. UBS Group boosted their price objective on shares of CVS Health from $60.00 to $62.00 and gave the company a “neutral” rating in a report on Thursday, November 7th. Deutsche Bank Aktiengesellschaft lowered their target price on shares of CVS Health from $64.00 to $63.00 and set a “hold” rating on the stock in a report on Friday, August 9th. Finally, Royal Bank of Canada reissued an “outperform” rating and set a $68.00 price target on shares of CVS Health in a research report on Wednesday, September 4th. Nine equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $73.00.

CVS Health Stock Down 3.2 %

CVS stock opened at $54.04 on Wednesday. The stock has a market capitalization of $68.00 billion, a P/E ratio of 13.72, a price-to-earnings-growth ratio of 0.97 and a beta of 0.55. 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 firm has a 50-day moving average price of $59.47 and a 200-day moving average price of $58.88. CVS Health Co. has a 12 month low of $52.77 and a 12 month high of $83.25.

CVS Health (NYSE:CVS) last issued its quarterly earnings data on Wednesday, November 6th. The pharmacy operator reported $1.09 earnings per share for the quarter, topping analysts’ consensus estimates of $1.08 by $0.01. The business had revenue of $95.43 billion for the quarter, compared to analyst estimates of $92.72 billion. CVS Health had a return on equity of 10.72% and a net margin of 1.36%. CVS Health’s quarterly revenue was up 6.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.21 EPS. As a group, equities research analysts anticipate that CVS Health Co. will post 5.44 EPS for the current fiscal year.

CVS Health Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, November 1st. Investors of record on Monday, October 21st were given a dividend of $0.665 per share. The ex-dividend date was Monday, October 21st. This represents a $2.66 annualized dividend and a yield of 4.92%. CVS Health’s dividend payout ratio is presently 67.51%.

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.