Victory Capital Management Inc. Sells 141,190 Shares of CVS Health Co. (NYSE:CVS)

Victory Capital Management Inc. decreased its holdings in CVS Health Co. (NYSE:CVS) by 11.7% during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 1,061,135 shares of the pharmacy operator’s stock after selling 141,190 shares during the quarter. Victory Capital Management Inc. owned 0.08% of CVS Health worth $47,634,000 at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in CVS. MidAtlantic Capital Management Inc. bought a new position in CVS Health in the 3rd quarter valued at about $25,000. Ridgewood Investments LLC lifted its position in CVS Health by 255.7% in the 4th quarter. Ridgewood Investments LLC now owns 626 shares of the pharmacy operator’s stock valued at $28,000 after acquiring an additional 450 shares in the last quarter. Stonebridge Financial Group LLC bought a new position in shares of CVS Health during the 4th quarter worth approximately $28,000. Legacy Investment Solutions LLC bought a new position in shares of CVS Health during the 3rd quarter worth approximately $31,000. Finally, Financial Perspectives Inc lifted its position in shares of CVS Health by 137.5% during the 4th quarter. Financial Perspectives Inc now owns 805 shares of the pharmacy operator’s stock worth $36,000 after buying an additional 466 shares in the last quarter. Institutional investors own 80.66% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on the stock. Royal Bank of Canada dropped their target price on shares of CVS Health from $68.00 to $58.00 and set an “outperform” rating on the stock in a research report on Friday, November 15th. StockNews.com raised shares of CVS Health from a “sell” rating to a “hold” rating in a research report on Thursday, February 13th. Argus set a $77.00 target price on shares of CVS Health in a research report on Tuesday, February 18th. Leerink Partnrs raised shares of CVS Health from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, February 12th. Finally, Edward Jones upgraded shares of CVS Health from a “hold” rating to a “buy” rating in a research note on Thursday, January 30th. Four equities research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, CVS Health has an average rating of “Moderate Buy” and a consensus price target of $69.83.

CVS Health Stock Up 1.7 %

CVS Health stock opened at $66.34 on Friday. CVS Health Co. has a 1-year low of $43.56 and a 1-year high of $80.75. The firm has a market capitalization of $83.64 billion, a price-to-earnings ratio of 18.12, a P/E/G ratio of 0.98 and a beta of 0.54. The company has a current ratio of 0.81, a quick ratio of 0.60 and a debt-to-equity ratio of 0.80. The firm has a 50 day simple moving average of $56.42 and a 200 day simple moving average of $56.75.

CVS Health (NYSE:CVS) last released its quarterly earnings results on Wednesday, February 12th. The pharmacy operator reported $1.19 EPS for the quarter, beating analysts’ consensus estimates of $0.89 by $0.30. CVS Health had a net margin of 1.24% and a return on equity of 9.11%. On average, analysts predict that CVS Health Co. will post 5.89 earnings per share for the current year.

CVS Health Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, February 3rd. Investors of record on Thursday, January 23rd were given a $0.665 dividend. This represents a $2.66 annualized dividend and a dividend yield of 4.01%. The ex-dividend date of this dividend was Thursday, January 23rd. CVS Health’s dividend payout ratio (DPR) is 72.68%.

Insider Activity at CVS Health

In related news, SVP James David Clark sold 7,513 shares of the firm’s stock in a transaction dated Wednesday, March 5th. The stock was sold at an average price of $66.35, for a total transaction of $498,487.55. Following the transaction, the senior vice president now directly owns 8,394 shares of the company’s stock, valued at approximately $556,941.90. This trade represents a 47.23 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Michael F. Mahoney bought 30,000 shares of the business’s stock in a transaction on Tuesday, February 18th. The stock was purchased at an average cost of $66.70 per share, with a total value of $2,001,000.00. Following the purchase, the director now owns 39,356 shares of the company’s stock, valued at $2,625,045.20. This represents a 320.65 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 0.24% of the stock is currently owned by insiders.

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.