Elmwood Wealth Management Inc. Lowers Stock Holdings in CVS Health Co. (NYSE:CVS)

by · The Markets Daily

Elmwood Wealth Management Inc. lessened its stake in shares of CVS Health Co. (NYSE:CVS – Free Report) by 41.3% in the 3rd quarter, HoldingsChannel.com reports. The fund owned 7,255 shares of the pharmacy operator’s stock after selling 5,108 shares during the period. Elmwood Wealth Management Inc.’s holdings in CVS Health were worth $456,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of CVS. V Square Quantitative Management LLC raised its position in shares of CVS Health by 145.7% in the 4th quarter. V Square Quantitative Management LLC now owns 7,456 shares of the pharmacy operator’s stock worth $589,000 after acquiring an additional 4,421 shares in the last quarter. Centaurus Financial Inc. raised its holdings in CVS Health by 2.0% in the fourth quarter. Centaurus Financial Inc. now owns 15,390 shares of the pharmacy operator’s stock worth $1,215,000 after purchasing an additional 301 shares in the last quarter. Syon Capital LLC lifted its position in shares of CVS Health by 43.7% during the fourth quarter. Syon Capital LLC now owns 10,720 shares of the pharmacy operator’s stock valued at $846,000 after buying an additional 3,262 shares during the last quarter. Scarborough Advisors LLC purchased a new position in shares of CVS Health in the 4th quarter worth approximately $37,000. Finally, Creekmur Asset Management LLC bought a new position in shares of CVS Health during the 4th quarter worth approximately $34,000. Institutional investors own 80.66% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have issued reports on CVS. Deutsche Bank Aktiengesellschaft cut their price target on shares of CVS Health from $64.00 to $63.00 and set a “hold” rating on the stock in a report on Friday, August 9th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $68.00 target price on shares of CVS Health in a research report on Wednesday, September 4th. Evercore ISI boosted their price target on CVS Health from $62.00 to $75.00 and gave the stock an “outperform” rating in a research note on Tuesday, October 8th. Barclays raised shares of CVS Health from an “equal weight” rating to an “overweight” rating and increased their price objective for the company from $63.00 to $82.00 in a research report on Thursday. Finally, Cantor Fitzgerald reissued a “neutral” rating and set a $62.00 target price on shares of CVS Health in a research report on Tuesday, October 1st. Nine investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. According to data from MarketBeat, CVS Health currently has an average rating of “Moderate Buy” and an average target price of $75.26.

Read Our Latest Analysis on CVS Health

CVS Health Price Performance

NYSE CVS traded up $0.74 during trading hours on Monday, hitting $67.37. 2,136,019 shares of the company’s stock traded hands, compared to its average volume of 10,994,377. The company has a market capitalization of $84.57 billion, a PE ratio of 11.71, a PEG ratio of 0.93 and a beta of 0.54. The firm’s 50-day moving average is $59.12 and its 200-day moving average is $60.89. CVS Health Co. has a 52-week low of $52.77 and a 52-week high of $83.25. The company has a debt-to-equity ratio of 0.83, a current ratio of 0.86 and a quick ratio of 0.66.

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

CVS Health Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 1st. Investors of record on Monday, October 21st will be given a $0.665 dividend. The ex-dividend date of this dividend is Monday, October 21st. This represents a $2.66 annualized dividend and a yield of 3.95%. CVS Health’s payout ratio is 46.75%.

About CVS Health

(Free Report)

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.

See Also

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