CVS Health Co. (NYSE:CVS) Shares Sold by Synovus Financial Corp

Synovus Financial Corp lessened its holdings in CVS Health Co. (NYSE:CVS) by 11.4% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 100,106 shares of the pharmacy operator’s stock after selling 12,873 shares during the period. Synovus Financial Corp’s holdings in CVS Health were worth $6,295,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. MidAtlantic Capital Management Inc. purchased a new position in CVS Health during the third quarter worth about $25,000. Livelsberger Financial Advisory purchased a new position in shares of CVS Health during the 3rd quarter worth approximately $31,000. Legacy Investment Solutions LLC purchased a new stake in CVS Health in the third quarter valued at approximately $31,000. Reston Wealth Management LLC acquired a new position in CVS Health during the third quarter worth $32,000. Finally, Kathleen S. Wright Associates Inc. purchased a new position in shares of CVS Health during the third quarter worth $33,000. 80.66% of the stock is owned by institutional investors and hedge funds.

CVS Health Stock Performance

Shares of CVS opened at $49.37 on Friday. The company’s 50 day simple moving average is $58.34 and its 200-day simple moving average is $58.62. The firm has a market cap of $62.13 billion, a PE ratio of 12.53, a price-to-earnings-growth ratio of 0.89 and a beta of 0.54. CVS Health Co. has a 12-month low of $48.01 and a 12-month high of $83.25. 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 (NYSE:CVS) last issued its quarterly earnings data on Wednesday, November 6th. The pharmacy operator reported $1.09 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.08 by $0.01. CVS Health had a net margin of 1.36% and a return on equity of 10.72%. The company had revenue of $95.43 billion for the quarter, compared to the consensus estimate of $92.72 billion. During the same period last year, the firm posted $2.21 EPS. CVS Health’s revenue for the quarter was up 6.3% on a year-over-year basis. As a group, equities analysts predict that CVS Health Co. will post 5.32 EPS for the current year.

CVS Health Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, November 1st. Shareholders of record on Monday, October 21st were given a dividend of $0.665 per share. The ex-dividend date of this dividend was Monday, October 21st. This represents a $2.66 dividend on an annualized basis and a yield of 5.39%. CVS Health’s payout ratio is 67.51%.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on CVS shares. Wells Fargo & Company raised CVS Health from an “equal weight” rating to an “overweight” rating and increased their target price for the stock from $60.00 to $66.00 in a research note on Monday, November 18th. UBS Group raised their price objective on shares of CVS Health from $60.00 to $62.00 and gave the company a “neutral” rating in a research note on Thursday, November 7th. Barclays cut their target price on shares of CVS Health from $75.00 to $71.00 and set an “overweight” rating on the stock in a research note on Thursday, November 7th. Mizuho dropped their price target on shares of CVS Health from $73.00 to $66.00 and set an “outperform” rating for the company in a research note on Thursday, October 24th. Finally, TD Cowen lifted their target price on CVS Health from $73.00 to $80.00 and gave the company a “buy” rating in a report on Monday, November 25th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and fourteen have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $70.50.

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.