Insight Inv LLC Sells 2,700 Shares of CVS Health Co. (NYSE:CVS)

Insight Inv LLC lowered its stake in shares of CVS Health Co. (NYSE:CVS) by 15.3% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 14,890 shares of the pharmacy operator’s stock after selling 2,700 shares during the period. Insight Inv LLC’s holdings in CVS Health were worth $879,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. USA Financial Formulas grew its holdings in CVS Health by 573.2% during the 4th quarter. USA Financial Formulas now owns 377 shares of the pharmacy operator’s stock valued at $30,000 after buying an additional 321 shares in the last quarter. Ables Iannone Moore & Associates Inc. bought a new stake in CVS Health during the 4th quarter worth approximately $32,000. First Community Trust NA lifted its stake in CVS Health by 116.2% in the 2nd quarter. First Community Trust NA now owns 562 shares of the pharmacy operator’s stock worth $33,000 after purchasing an additional 302 shares in the last quarter. Creekmur Asset Management LLC bought a new position in CVS Health in the 4th quarter valued at $34,000. Finally, Steph & Co. increased its holdings in shares of CVS Health by 192.0% in the first 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. 80.66% of the stock is currently owned by hedge funds and other institutional investors.

CVS Health Price Performance

Shares of CVS Health stock opened at $56.47 on Tuesday. The firm has a market cap of $71.04 billion, a PE ratio of 9.92, a price-to-earnings-growth ratio of 0.81 and a beta of 0.54. The company’s fifty day simple moving average is $58.26 and its two-hundred day simple moving average is $63.54. The company has a quick ratio of 0.66, a current ratio of 0.86 and a debt-to-equity ratio of 0.83. CVS Health Co. has a 12-month low of $52.77 and a 12-month high of $83.25.

CVS Health (NYSE:CVS) last announced its quarterly earnings results on Wednesday, August 7th. The pharmacy operator reported $1.83 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.73 by $0.10. CVS Health had a return on equity of 12.72% and a net margin of 1.98%. The company had revenue of $91.23 billion for the quarter, compared to the consensus estimate of $91.41 billion. During the same quarter in the previous year, the business earned $2.21 EPS. CVS Health’s revenue was up 2.6% compared to the same quarter last year. As a group, equities analysts expect 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. Investors of record on Monday, July 22nd were issued a $0.665 dividend. This represents a $2.66 annualized dividend and a yield of 4.71%. The ex-dividend date of this dividend was Monday, July 22nd. CVS Health’s dividend payout ratio (DPR) is currently 46.75%.

Wall Street Analyst Weigh In

CVS has been the subject of several recent analyst reports. Barclays reduced their target price on CVS Health from $65.00 to $63.00 and set an “equal weight” rating for the company in a research report on Thursday, August 8th. Cantor Fitzgerald reaffirmed a “neutral” rating and issued a $62.00 target price on shares of CVS Health in a research note on Monday, August 19th. Royal Bank of Canada reissued an “outperform” rating and issued a $68.00 price target on shares of CVS Health in a research note on Wednesday, September 4th. Deutsche Bank Aktiengesellschaft lowered their price objective on shares of CVS Health from $64.00 to $63.00 and set a “hold” rating on the stock in a research report on Friday, August 9th. Finally, JPMorgan Chase & Co. reduced their target price on 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 twelve have given a buy rating to the stock. Based on data from MarketBeat.com, CVS Health presently has a consensus rating of “Moderate Buy” and a consensus target price of $72.48.

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.