CVS Health Co. (NYSE:CVS) Shares Sold by Nexus Investment Management ULC

Nexus Investment Management ULC cut its position in shares of CVS Health Co. (NYSE:CVS) by 1.0% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 397,277 shares of the pharmacy operator’s stock after selling 3,885 shares during the period. CVS Health makes up 2.4% of Nexus Investment Management ULC’s holdings, making the stock its 20th biggest holding. Nexus Investment Management ULC’s holdings in CVS Health were worth $24,981,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in CVS. First Community Trust NA boosted its holdings in shares of CVS Health by 116.2% in the 2nd quarter. First Community Trust NA now owns 562 shares of the pharmacy operator’s stock valued at $33,000 after buying an additional 302 shares in the last quarter. Kathleen S. Wright Associates Inc. acquired a new stake in shares of CVS Health in the third quarter worth approximately $33,000. Creekmur Asset Management LLC purchased a new position in CVS Health in the fourth quarter valued at approximately $34,000. Steph & Co. raised its stake in shares of CVS Health by 192.0% during the first quarter. Steph & Co. now owns 438 shares of the pharmacy operator’s stock valued at $35,000 after purchasing an additional 288 shares during the period. Finally, ORG Partners LLC increased its stake in shares of CVS Health by 11,840.0% in the second quarter. ORG Partners LLC now owns 597 shares of the pharmacy operator’s stock worth $35,000 after buying an additional 592 shares during the last quarter. 80.66% of the stock is owned by hedge funds and other institutional investors.

CVS Health Trading Down 3.6 %

Shares of CVS Health stock opened at $65.01 on Wednesday. The firm’s 50-day moving average price is $59.45 and its two-hundred day moving average price is $60.70. CVS Health Co. has a 12-month low of $52.77 and a 12-month high of $83.25. The company has a quick ratio of 0.66, a current ratio of 0.86 and a debt-to-equity ratio of 0.83. The company has a market capitalization of $81.61 billion, a price-to-earnings ratio of 11.43, a PEG ratio of 0.93 and a beta of 0.54.

CVS Health (NYSE:CVS) last posted its quarterly earnings results on Wednesday, August 7th. The pharmacy operator reported $1.83 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.73 by $0.10. The business had revenue of $91.23 billion during the quarter, compared to the consensus estimate of $91.41 billion. CVS Health had a net margin of 1.98% and a return on equity of 12.72%. CVS Health’s revenue was up 2.6% compared to the same quarter last year. During the same quarter last year, the firm posted $2.21 EPS. On average, analysts forecast that CVS Health Co. will post 6.51 earnings per share for the current fiscal year.

CVS Health Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 1st. Investors of record on Monday, October 21st will be given a dividend of $0.665 per share. The ex-dividend date is Monday, October 21st. This represents a $2.66 dividend on an annualized basis and a yield of 4.09%. CVS Health’s dividend payout ratio (DPR) is currently 46.75%.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on CVS shares. Cantor Fitzgerald restated a “neutral” rating and set a $62.00 price objective on shares of CVS Health in a research note on Tuesday, October 1st. Truist Financial increased their price target on shares of CVS Health from $66.00 to $76.00 and gave the company a “buy” rating in a report on Friday, October 11th. Royal Bank of Canada reiterated an “outperform” rating and set a $68.00 target price on shares of CVS Health in a research report on Wednesday, September 4th. Barclays upgraded shares of CVS Health from an “equal weight” rating to an “overweight” rating and boosted their price objective for the company from $63.00 to $82.00 in a report on Thursday, October 10th. Finally, Deutsche Bank Aktiengesellschaft cut 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. Nine research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $75.26.

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.