CVS Health Corp (CVS) Position Trimmed by Mayo Investment Advisers LLC

Mayo Investment Advisers LLC cut its stake in shares of CVS Health Corp (NYSE:CVS) by 9.7% during the 3rd quarter, according to its most recent filing with the SEC. The institutional investor owned 88,263 shares of the pharmacy operator’s stock after selling 9,500 shares during the period. CVS Health makes up approximately 3.3% of Mayo Investment Advisers LLC’s holdings, making the stock its 9th largest holding. Mayo Investment Advisers LLC’s holdings in CVS Health were worth $7,178,000 at the end of the most recent reporting period.

A number of other institutional investors also recently added to or reduced their stakes in CVS. Westwood Holdings Group Inc. boosted its position in CVS Health by 7.1% during the 1st quarter. Westwood Holdings Group Inc. now owns 1,230,638 shares of the pharmacy operator’s stock worth $96,605,000 after acquiring an additional 81,315 shares during the period. Cambria Investment Management L.P. boosted its position in CVS Health by 1.2% during the 1st quarter. Cambria Investment Management L.P. now owns 17,548 shares of the pharmacy operator’s stock worth $1,378,000 after acquiring an additional 214 shares during the period. Barings LLC boosted its position in CVS Health by 39.6% during the 1st quarter. Barings LLC now owns 134,319 shares of the pharmacy operator’s stock worth $10,544,000 after acquiring an additional 38,092 shares during the period. Tudor Investment Corp ET AL boosted its position in CVS Health by 106.4% during the 1st quarter. Tudor Investment Corp ET AL now owns 59,741 shares of the pharmacy operator’s stock worth $4,690,000 after acquiring an additional 30,796 shares during the period. Finally, HighTower Advisors LLC boosted its position in CVS Health by 1.1% during the 1st quarter. HighTower Advisors LLC now owns 221,664 shares of the pharmacy operator’s stock worth $17,405,000 after acquiring an additional 2,353 shares during the period. 81.69% of the stock is currently owned by hedge funds and other institutional investors.

Several analysts have recently weighed in on CVS shares. Loop Capital cut their price objective on CVS Health from $83.00 to $73.00 and set a “hold” rating for the company in a report on Tuesday, November 7th. Morgan Stanley upgraded CVS Health from an “equal weight” rating to an “overweight” rating and set a $88.00 price objective for the company in a report on Friday, January 5th. Needham & Company LLC upped their price objective on CVS Health from $85.00 to $88.00 and gave the company a “buy” rating in a report on Tuesday, January 2nd. SunTrust Banks upped their price objective on CVS Health to $90.00 and gave the company a “buy” rating in a report on Friday, January 5th. Finally, Jefferies Group cut their price objective on CVS Health from $86.00 to $76.00 and set a “hold” rating for the company in a report on Tuesday, November 7th. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating, twelve have issued a buy rating and two have issued a strong buy rating to the company. CVS Health has a consensus rating of “Buy” and a consensus price target of $86.66.

In related news, EVP Lisa Bisaccia sold 29,445 shares of the company’s stock in a transaction on Thursday, December 21st. The stock was sold at an average price of $75.00, for a total transaction of $2,208,375.00. Following the transaction, the executive vice president now directly owns 15,556 shares of the company’s stock, valued at $1,166,700. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 0.61% of the stock is currently owned by insiders.

CVS Health Corp (NYSE:CVS) opened at $78.78 on Tuesday. The firm has a market capitalization of $79,800.00, a price-to-earnings ratio of 16.28, a P/E/G ratio of 1.25 and a beta of 0.90. CVS Health Corp has a 52-week low of $66.45 and a 52-week high of $84.72. The company has a current ratio of 1.05, a quick ratio of 0.55 and a debt-to-equity ratio of 0.67.

CVS Health (NYSE:CVS) last posted its quarterly earnings results on Monday, November 6th. The pharmacy operator reported $1.50 earnings per share for the quarter, beating the consensus estimate of $1.49 by $0.01. The firm had revenue of $46.18 billion for the quarter, compared to analyst estimates of $46.17 billion. CVS Health had a return on equity of 16.96% and a net margin of 2.77%. CVS Health’s quarterly revenue was up 3.5% on a year-over-year basis. During the same period in the previous year, the firm earned $1.64 earnings per share. equities analysts predict that CVS Health Corp will post 5.89 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, February 2nd. Investors of record on Wednesday, January 24th will be given a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a yield of 2.54%. The ex-dividend date is Tuesday, January 23rd. CVS Health’s payout ratio is 41.32%.

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About CVS Health

CVS Health Corporation, together with its subsidiaries, is an integrated pharmacy healthcare company. The Company provides pharmacy care for the senior community through Omnicare, Inc (Omnicare) and Omnicare’s long-term care (LTC) operations, which include distribution of pharmaceuticals, related pharmacy consulting and other ancillary services to chronic care facilities and other care settings.

Institutional Ownership by Quarter for CVS Health (NYSE:CVS)

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