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

Ontario Teachers Pension Plan Board trimmed its position in CVS Health Co. (NYSE:CVS) by 50.0% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 4,351 shares of the pharmacy operator’s stock after selling 4,352 shares during the quarter. Ontario Teachers Pension Plan Board’s holdings in CVS Health were worth $274,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Assetmark Inc. grew its position in CVS Health by 9.7% in the third quarter. Assetmark Inc. now owns 410,001 shares of the pharmacy operator’s stock worth $25,781,000 after acquiring an additional 36,132 shares during the period. Cullinan Associates Inc. grew its holdings in shares of CVS Health by 43.8% during the 3rd quarter. Cullinan Associates Inc. now owns 122,682 shares of the pharmacy operator’s stock worth $7,125,000 after purchasing an additional 37,395 shares during the period. Deerfield Management Company L.P. Series C acquired a new stake in shares of CVS Health during the 2nd quarter worth about $57,584,000. Oppenheimer Asset Management Inc. lifted its position in CVS Health by 5.7% in the third quarter. Oppenheimer Asset Management Inc. now owns 448,323 shares of the pharmacy operator’s stock valued at $28,191,000 after buying an additional 24,285 shares during the last quarter. Finally, CX Institutional boosted its stake in CVS Health by 698.0% during the third quarter. CX Institutional now owns 74,609 shares of the pharmacy operator’s stock worth $4,691,000 after buying an additional 65,259 shares during the period. Institutional investors and hedge funds own 80.66% of the company’s stock.

CVS Health Stock Up 1.6 %

Shares of NYSE CVS opened at $58.01 on Friday. CVS Health Co. has a 1 year low of $52.71 and a 1 year high of $83.25. The company has a market capitalization of $73.00 billion, a price-to-earnings ratio of 14.72, a price-to-earnings-growth ratio of 0.94 and a beta of 0.55. The company has a debt-to-equity ratio of 0.80, a current ratio of 0.80 and a quick ratio of 0.59. The business has a 50-day moving average of $59.21 and a two-hundred day moving average of $58.59.

CVS Health (NYSE:CVS) last announced its quarterly earnings results on Wednesday, November 6th. The pharmacy operator reported $1.09 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.08 by $0.01. CVS Health had a return on equity of 10.72% and a net margin of 1.36%. The firm had revenue of $95.43 billion during the quarter, compared to the consensus estimate of $92.72 billion. During the same period in the prior year, the company posted $2.21 earnings per share. The firm’s quarterly revenue was up 6.3% compared to the same quarter last year. On average, analysts forecast that CVS Health Co. will post 5.43 earnings per share for the current fiscal year.

CVS Health Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, November 1st. Investors of record on Monday, October 21st were given a $0.665 dividend. The ex-dividend date was Monday, October 21st. This represents a $2.66 dividend on an annualized basis and a yield of 4.59%. CVS Health’s dividend payout ratio (DPR) is presently 67.51%.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on CVS. Evercore ISI upped their price objective on shares of CVS Health from $62.00 to $75.00 and gave the stock an “outperform” rating in a report on Tuesday, October 8th. Mizuho lowered their price target on CVS Health from $73.00 to $66.00 and set an “outperform” rating for the company in a research report on Thursday, October 24th. StockNews.com lowered CVS Health from a “hold” rating to a “sell” rating in a research note on Thursday, November 14th. Wells Fargo & Company raised CVS Health from an “equal weight” rating to an “overweight” rating and lifted their target price for the company from $60.00 to $66.00 in a research report on Monday, November 18th. Finally, Royal Bank of Canada reduced their price target on shares of CVS Health from $68.00 to $58.00 and set an “outperform” rating on the stock in a research report on Friday, November 15th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and thirteen have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $72.28.

About CVS Health

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.