Oppenheimer & Co. Inc. Cuts Stock Holdings in CVS Health Co. (NYSE:CVS)

Oppenheimer & Co. Inc. lessened its holdings in CVS Health Co. (NYSE:CVS) by 30.0% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 94,523 shares of the pharmacy operator’s stock after selling 40,502 shares during the quarter. Oppenheimer & Co. Inc.’s holdings in CVS Health were worth $5,583,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in CVS. Ables Iannone Moore & Associates Inc. purchased a new stake in CVS Health during the fourth quarter worth about $32,000. Creekmur Asset Management LLC purchased a new stake in shares of CVS Health during the 4th quarter worth approximately $34,000. Steph & Co. grew its holdings in shares of CVS Health by 192.0% in the 1st quarter. Steph & Co. now owns 438 shares of the pharmacy operator’s stock worth $35,000 after acquiring an additional 288 shares during the period. Kapitalo Investimentos Ltda purchased a new position in CVS Health in the 4th quarter valued at approximately $36,000. Finally, Scarborough Advisors LLC purchased a new stake in CVS Health during the fourth quarter worth $37,000. Institutional investors and hedge funds own 80.66% of the company’s stock.

Wall Street Analysts Forecast Growth

CVS has been the subject of several research reports. Royal Bank of Canada reaffirmed an “outperform” rating and set a $68.00 price target on shares of CVS Health in a research note on Wednesday, September 4th. Cantor Fitzgerald reiterated a “neutral” rating and issued a $62.00 price target on shares of CVS Health in a research report on Tuesday, September 10th. Robert W. Baird assumed coverage on CVS Health in a research report on Thursday, May 30th. They set a “neutral” rating and a $61.00 price objective for the company. Deutsche Bank Aktiengesellschaft lowered their target price on CVS Health from $64.00 to $63.00 and set a “hold” rating on the stock in a report on Friday, August 9th. Finally, JPMorgan Chase & Co. reduced their price objective on CVS Health from $101.00 to $86.00 and set an “overweight” rating on the stock in a research report on Thursday, May 30th. Eleven analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $72.10.

CVS Health Trading Up 0.8 %

NYSE CVS opened at $57.98 on Friday. The company has a debt-to-equity ratio of 0.83, a quick ratio of 0.66 and a current ratio of 0.86. CVS Health Co. has a one year low of $52.77 and a one year high of $83.25. The company’s 50 day moving average price is $58.28 and its 200 day moving average price is $63.08. The firm has a market capitalization of $72.94 billion, a price-to-earnings ratio of 10.19, a PEG ratio of 0.79 and a beta of 0.53.

CVS Health (NYSE:CVS) last announced its quarterly earnings results on Wednesday, August 7th. The pharmacy operator reported $1.83 earnings per share for the quarter, topping analysts’ consensus estimates of $1.73 by $0.10. CVS Health had a net margin of 1.98% and a return on equity of 12.72%. The firm had revenue of $91.23 billion during the quarter, compared to analysts’ expectations of $91.41 billion. During the same period in the prior year, the company earned $2.21 EPS. The firm’s revenue was up 2.6% on a year-over-year basis. On average, sell-side analysts predict that CVS Health Co. will post 6.51 EPS for the current year.

CVS Health Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, August 1st. Shareholders of record on Monday, July 22nd were issued a $0.665 dividend. This represents a $2.66 dividend on an annualized basis and a yield of 4.59%. The ex-dividend date was Monday, July 22nd. CVS Health’s dividend payout ratio is presently 46.75%.

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.