6,363 CVS Health Corporation $CVS Shares Sold by M&G PLC

M&G PLC lowered its stake in shares of CVS Health Corporation (NYSE:CVS) by 36.4% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 11,106 shares of the pharmacy operator’s stock after selling 6,363 shares during the quarter. M&G PLC’s holdings in CVS Health were worth $955,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also modified their holdings of the stock. Consolidated Investment Group LLC boosted its position in shares of CVS Health by 85.7% in the 3rd quarter. Consolidated Investment Group LLC now owns 39,000 shares of the pharmacy operator’s stock valued at $3,342,000 after purchasing an additional 18,000 shares during the period. Kestra Investment Management LLC increased its position in CVS Health by 7.2% during the third quarter. Kestra Investment Management LLC now owns 4,123 shares of the pharmacy operator’s stock worth $353,000 after buying an additional 278 shares during the period. Leuthold Group LLC lifted its stake in CVS Health by 9.8% in the third quarter. Leuthold Group LLC now owns 45,227 shares of the pharmacy operator’s stock valued at $3,876,000 after buying an additional 4,038 shares during the last quarter. Fulcrum Asset Management LLP boosted its holdings in shares of CVS Health by 334.1% in the third quarter. Fulcrum Asset Management LLP now owns 26,043 shares of the pharmacy operator’s stock valued at $2,268,000 after acquiring an additional 20,044 shares during the period. Finally, Allspring Global Investments Holdings LLC boosted its holdings in shares of CVS Health by 10.5% in the third quarter. Allspring Global Investments Holdings LLC now owns 178,522 shares of the pharmacy operator’s stock valued at $15,210,000 after acquiring an additional 16,991 shares during the period. Hedge funds and other institutional investors own 80.66% of the company’s stock.

Latest CVS Health News

Here’s some of the latest news about CVS:

• Positive Sentiment: A Zacks upgrade to Rank #2 (Buy) reflects growing optimism about CVS’s earnings outlook. Another report cited Aetna margin recovery, stronger pharmacy profits and robust cash flow as positives. Zacks rating upgrade Aetna recovery and PBM risks
• Positive Sentiment: Prem Shah, set to lead CVS Pharmacy after the planned split, reportedly bought $2 million of CVS shares. The purchase may be seen as a signal of confidence, though it does not guarantee results. Report on Prem Shah’s stock purchase
• Negative Sentiment: Despite Aetna’s recovery, pharmacy-benefit-manager pressures and declining membership remain risks that could hinder performance. Report on CVS operating risks

Wall Street Analyst Weigh In

CVS has been the topic of a number of research reports. UBS Group lowered their price target on CVS Health from $118.00 to $107.00 and set a “buy” rating on the stock in a report on Thursday, November 5th. Cantor Fitzgerald restated a “neutral” rating on shares of CVS Health in a research report on Friday, October 9th. Evercore restated an “outperform” rating on shares of CVS Health in a research note on Wednesday, November 4th. Jefferies Financial Group restated a “buy” rating and issued a $103.00 target price on shares of CVS Health in a research note on Wednesday, November 4th. Finally, Raymond James Financial set a $103.00 target price on shares of CVS Health in a report on Friday, November 6th. Twenty-three equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $108.25.

CVS Health Stock Up 0.5%

CVS opened at $89.43 on Thursday. The company has a debt-to-equity ratio of 0.71, a current ratio of 0.85 and a quick ratio of 0.66. The business has a 50 day simple moving average of $89.96 and a 200-day simple moving average of $88.97. The stock has a market capitalization of $114.43 billion, a P/E ratio of 10.41, a P/E/G ratio of 0.77 and a beta of 0.58. CVS Health Corporation has a 12 month low of $69.51 and a 12 month high of $110.68.

CVS Health (NYSE:CVS) last announced its quarterly earnings data on Wednesday, November 4th. The pharmacy operator reported $2.09 earnings per share for the quarter, topping analysts’ consensus estimates of $1.65 by $0.44. The firm had revenue of $108.40 billion for the quarter, compared to analyst estimates of $104.72 billion. CVS Health had a return on equity of 13.65% and a net margin of 2.62%. CVS Health’s quarterly revenue was up 5.4% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.60 earnings per share. On average, equities analysts anticipate that CVS Health Corporation will post 8.26 earnings per share for the current fiscal year.

CVS Health Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, November 2nd. Investors of record on Thursday, October 22nd were issued a dividend of $0.6650 per share. The ex-dividend date of this dividend was Thursday, October 22nd. This represents a $2.66 dividend on an annualized basis and a yield of 3.0%. CVS Health’s payout ratio is currently 30.97%.

Insiders Place Their Bets

In related news, EVP Prem Shah bought 23,855 shares of the stock in a transaction on Friday, November 6th. The shares were bought at an average cost of $83.89 per share, for a total transaction of $2,001,195.95. Following the completion of the transaction, the executive vice president owned 88,516 shares of the company’s stock, valued at $7,425,607.24. This represents a 36.89% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 0.85% of the company’s stock.

CVS Health Company Profile

CVS Health is a U.S.-based health care company that operates retail pharmacies, provides pharmacy benefit management services, and offers health insurance and other health services. Its businesses include CVS Pharmacy, pharmacy benefit manager CVS Caremark, and Aetna, its health benefits division. The company also provides care through MinuteClinic walk-in clinics and health care businesses including Oak Street Health and Signify Health. Its services span prescription fulfillment, pharmacy benefit management, health insurance, primary care, and in-home and community-based care.