CVS Health Co. (NYSE:CVS) Shares Sold by Fernwood Investment Management LLC

Fernwood Investment Management LLC reduced its holdings in shares of CVS Health Co. (NYSE:CVS) by 24.7% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 26,398 shares of the pharmacy operator’s stock after selling 8,661 shares during the period. Fernwood Investment Management LLC’s holdings in CVS Health were worth $1,660,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Livelsberger Financial Advisory purchased a new position in shares of CVS Health in the 3rd quarter valued at approximately $31,000. Reston Wealth Management LLC purchased a new position in shares of CVS Health in the third quarter worth $32,000. First Community Trust NA lifted its stake in shares of CVS Health by 116.2% during the second quarter. First Community Trust NA now owns 562 shares of the pharmacy operator’s stock worth $33,000 after buying an additional 302 shares during the period. Kathleen S. Wright Associates Inc. purchased a new stake in shares of CVS Health during the third quarter valued at $33,000. Finally, ORG Partners LLC increased its position in shares of CVS Health by 11,840.0% in the 2nd quarter. ORG Partners LLC now owns 597 shares of the pharmacy operator’s stock valued at $35,000 after acquiring an additional 592 shares during the period. 80.66% of the stock is currently owned by hedge funds and other institutional investors.

CVS Health Price Performance

NYSE:CVS traded down $0.65 during trading hours on Friday, reaching $55.81. 13,581,795 shares of the company were exchanged, compared to its average volume of 12,676,457. The stock’s 50-day moving average is $59.66 and its 200-day moving average is $59.56. CVS Health Co. has a twelve month low of $52.77 and a twelve month high of $83.25. The firm has a market cap of $70.21 billion, a PE ratio of 9.93, a price-to-earnings-growth ratio of 0.83 and a beta of 0.55. The company has a current ratio of 0.86, a quick ratio of 0.66 and a debt-to-equity ratio of 0.83.

CVS Health (NYSE:CVS) last announced its earnings results on Wednesday, August 7th. The pharmacy operator reported $1.83 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.73 by $0.10. The company 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 firm’s quarterly revenue was up 2.6% on a year-over-year basis. During the same quarter in the previous year, the company posted $2.21 EPS. On average, sell-side analysts anticipate that CVS Health Co. will post 6.41 earnings per share for the current fiscal year.

CVS Health Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, November 1st. Stockholders of record on Monday, October 21st were issued a dividend of $0.665 per share. This represents a $2.66 annualized dividend and a dividend yield of 4.77%. The ex-dividend date was Monday, October 21st. CVS Health’s dividend payout ratio is currently 47.33%.

Analyst Ratings Changes

CVS has been the topic of several research analyst reports. Wells Fargo & Company boosted their price target on CVS Health from $60.00 to $61.00 and gave the company an “equal weight” rating in a research note on Monday, August 12th. Truist Financial increased their price target on shares of CVS Health from $66.00 to $76.00 and gave the stock a “buy” rating in a report on Friday, October 11th. Evercore ISI lifted their price objective on shares of CVS Health from $62.00 to $75.00 and gave the company an “outperform” rating in a research note on Tuesday, October 8th. TD Cowen raised shares of CVS Health from a “hold” rating to a “buy” rating and upped their price objective for the company from $59.00 to $85.00 in a report on Friday, October 4th. Finally, Barclays decreased their target price on shares of CVS Health from $82.00 to $75.00 and set an “overweight” rating for the company in a research report on Wednesday, October 23rd. Nine research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $73.17.

CVS Health Company 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.