CVS Health Co. (NYSE:CVS) Position Decreased by Northwest Bancshares Inc.

Northwest Bancshares Inc. reduced its holdings in CVS Health Co. (NYSE:CVS) by 32.8% during the third quarter, Holdings Channel reports. The firm owned 5,111 shares of the pharmacy operator’s stock after selling 2,496 shares during the period. Northwest Bancshares Inc.’s holdings in CVS Health were worth $321,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also added to or reduced their stakes in CVS. Segall Bryant & Hamill LLC purchased a new stake in CVS Health during the third quarter valued at about $1,847,000. West Family Investments Inc. boosted its stake in CVS Health by 13.6% in the 3rd quarter. West Family Investments Inc. now owns 24,992 shares of the pharmacy operator’s stock worth $1,571,000 after purchasing an additional 2,986 shares during the period. Second Half Financial Partners LLC purchased a new position in CVS Health during the 3rd quarter worth approximately $359,000. B. Metzler seel. Sohn & Co. Holding AG purchased a new stake in shares of CVS Health in the third quarter valued at $3,888,000. Finally, Banque Cantonale Vaudoise boosted its position in shares of CVS Health by 1.7% in the third quarter. Banque Cantonale Vaudoise now owns 36,545 shares of the pharmacy operator’s stock worth $2,298,000 after buying an additional 602 shares during the period. 80.66% of the stock is owned by institutional investors and hedge funds.

CVS Health Stock Performance

NYSE:CVS opened at $56.83 on Thursday. The firm has a market capitalization of $71.52 billion, a PE ratio of 14.42, a PEG ratio of 0.92 and a beta of 0.55. The company has a current ratio of 0.80, a quick ratio of 0.59 and a debt-to-equity ratio of 0.80. CVS Health Co. has a 1 year low of $52.71 and a 1 year high of $83.25. The firm’s fifty day simple moving average is $59.18 and its 200 day simple moving average is $58.61.

CVS Health (NYSE:CVS) last posted its quarterly earnings data on Wednesday, November 6th. The pharmacy operator reported $1.09 EPS for the quarter, topping analysts’ consensus estimates of $1.08 by $0.01. CVS Health had a return on equity of 10.72% and a net margin of 1.36%. The business had revenue of $95.43 billion for the quarter, compared to analyst estimates of $92.72 billion. During the same period in the previous year, the company posted $2.21 earnings per share. The firm’s revenue for the quarter was up 6.3% on a year-over-year basis. On average, sell-side analysts anticipate that CVS Health Co. will post 5.48 EPS for the current year.

CVS Health Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, November 1st. Stockholders of record on Monday, October 21st were given a dividend of $0.665 per share. This represents a $2.66 dividend on an annualized basis and a dividend yield of 4.68%. The ex-dividend date of this dividend was Monday, October 21st. CVS Health’s dividend payout ratio is currently 67.51%.

Analyst Ratings Changes

Several brokerages recently issued reports on CVS. TD Cowen raised CVS Health from a “hold” rating to a “buy” rating and increased their price objective for the stock from $59.00 to $85.00 in a research note on Friday, October 4th. StockNews.com cut shares of CVS Health from a “hold” rating to a “sell” rating in a report on Thursday, November 14th. Mizuho dropped their price objective on shares of CVS Health from $73.00 to $66.00 and set an “outperform” rating on the stock in a research note on Thursday, October 24th. Royal Bank of Canada decreased their target price on shares of CVS Health from $68.00 to $58.00 and set an “outperform” rating for the company in a research note on Friday, November 15th. Finally, Cantor Fitzgerald reaffirmed a “neutral” rating and issued a $62.00 price target on shares of CVS Health in a research note on Tuesday, October 1st. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and thirteen have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $72.28.

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.