CVS Health Co. (NYSE:CVS) Position Trimmed by MGO One Seven LLC

MGO One Seven LLC reduced its holdings in CVS Health Co. (NYSE:CVS) by 15.8% during the second quarter, according to the company in its most recent filing with the SEC. The fund owned 24,372 shares of the pharmacy operator’s stock after selling 4,570 shares during the quarter. MGO One Seven LLC’s holdings in CVS Health were worth $1,439,000 as of its most recent filing with the SEC.

Other institutional investors have also modified their holdings of the company. Steph & Co. raised its position in shares of CVS Health by 192.0% during the 1st quarter. Steph & Co. now owns 438 shares of the pharmacy operator’s stock worth $35,000 after purchasing an additional 288 shares during the period. Douglas Lane & Associates LLC boosted its holdings in shares of CVS Health by 1.6% during the first quarter. Douglas Lane & Associates LLC now owns 1,084,256 shares of the pharmacy operator’s stock valued at $86,480,000 after acquiring an additional 16,840 shares during the period. OLD Point Trust & Financial Services N A bought a new position in shares of CVS Health during the fourth quarter worth about $151,000. State of Tennessee Treasury Department increased its holdings in shares of CVS Health by 10.4% in the 4th quarter. State of Tennessee Treasury Department now owns 624,817 shares of the pharmacy operator’s stock worth $49,336,000 after acquiring an additional 58,836 shares during the period. Finally, BOCHK Asset Management Ltd bought a new stake in CVS Health in the 4th quarter valued at about $2,116,000. Institutional investors own 80.66% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on the stock. Cantor Fitzgerald restated a “neutral” rating and issued a $62.00 price target on shares of CVS Health in a research note on Tuesday. Baird R W raised CVS Health to a “hold” rating in a research note on Thursday, May 30th. Wells Fargo & Company raised their price target on CVS Health from $60.00 to $61.00 and gave the company an “equal weight” rating in a report on Monday, August 12th. Barclays reduced their price objective on shares of CVS Health from $65.00 to $63.00 and set an “equal weight” rating for the company in a report on Thursday, August 8th. Finally, JPMorgan Chase & Co. lowered their target price on shares of CVS Health from $101.00 to $86.00 and set an “overweight” rating on the stock in a research note on Thursday, May 30th. Eleven equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $72.10.

CVS Health Stock Performance

CVS Health stock opened at $57.53 on Friday. CVS Health Co. has a fifty-two week low of $52.77 and a fifty-two week high of $83.25. The firm’s 50 day simple moving average is $58.25 and its 200-day simple moving average is $63.30. The company has a debt-to-equity ratio of 0.83, a current ratio of 0.86 and a quick ratio of 0.66. The company has a market cap of $72.22 billion, a P/E ratio of 10.11, a price-to-earnings-growth ratio of 0.81 and a beta of 0.54.

CVS Health (NYSE:CVS) last posted its quarterly earnings data on Wednesday, August 7th. The pharmacy operator reported $1.83 earnings per share for the quarter, topping the consensus estimate of $1.73 by $0.10. The firm had revenue of $91.23 billion for the quarter, compared to analysts’ expectations of $91.41 billion. CVS Health had a net margin of 1.98% and a return on equity of 12.72%. The company’s quarterly revenue was up 2.6% compared to the same quarter last year. During the same period in the previous year, the company posted $2.21 EPS. As a group, equities research analysts predict that CVS Health Co. will post 6.51 EPS for the current year.

CVS Health Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, August 1st. Shareholders of record on Monday, July 22nd were given a dividend of $0.665 per share. The ex-dividend date was Monday, July 22nd. This represents a $2.66 dividend on an annualized basis and a yield of 4.62%. CVS Health’s payout ratio is presently 46.75%.

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.