PVG Asset Management Corp reduced its stake in CVS Health Corp (NYSE:CVS) by 10.3% during the third quarter, HoldingsChannel.com reports. The fund owned 63,708 shares of the pharmacy operator’s stock after selling 7,307 shares during the period. CVS Health makes up about 2.3% of PVG Asset Management Corp’s portfolio, making the stock its 13th biggest position. PVG Asset Management Corp’s holdings in CVS Health were worth $5,181,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of the stock. Beach Investment Management LLC. acquired a new position in CVS Health in the second quarter valued at approximately $2,224,000. Mengis Capital Management Inc. lifted its stake in CVS Health by 0.7% in the second quarter. Mengis Capital Management Inc. now owns 11,415 shares of the pharmacy operator’s stock valued at $918,000 after buying an additional 75 shares during the period. St. James Investment Company LLC lifted its stake in CVS Health by 6.0% in the second quarter. St. James Investment Company LLC now owns 870,302 shares of the pharmacy operator’s stock valued at $70,024,000 after buying an additional 49,242 shares during the period. Canada Pension Plan Investment Board lifted its stake in CVS Health by 89.8% in the second quarter. Canada Pension Plan Investment Board now owns 1,851,099 shares of the pharmacy operator’s stock valued at $148,939,000 after buying an additional 876,027 shares during the period. Finally, Wetherby Asset Management Inc. lifted its stake in CVS Health by 0.6% in the second quarter. Wetherby Asset Management Inc. now owns 24,899 shares of the pharmacy operator’s stock valued at $2,003,000 after buying an additional 158 shares during the period. 81.69% of the stock is currently owned by institutional investors.

In related news, EVP Lisa Bisaccia sold 29,445 shares of the company’s stock in a transaction on Thursday, December 21st. The stock was sold at an average price of $75.00, for a total transaction of $2,208,375.00. Following the completion of the sale, the executive vice president now owns 15,556 shares in the company, valued at $1,166,700. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 0.61% of the company’s stock.

Several equities analysts have issued reports on CVS shares. Leerink Swann reissued an “outperform” rating and issued a $85.00 price target (down from $90.00) on shares of CVS Health in a research note on Tuesday, November 7th. Raymond James Financial raised CVS Health from an “outperform” rating to a “strong-buy” rating and set a $90.00 price target on the stock in a research note on Thursday, January 4th. They noted that the move was a valuation call. Citigroup set a $76.00 price target on CVS Health and gave the company a “hold” rating in a research note on Monday, December 4th. Needham & Company LLC boosted their price objective on CVS Health from $79.00 to $85.00 and gave the company a “buy” rating in a report on Monday, December 4th. Finally, Jefferies Group set a $76.00 price objective on CVS Health and gave the company a “hold” rating in a report on Monday, December 4th. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating, twelve have assigned a buy rating and two have given a strong buy rating to the company. The stock currently has a consensus rating of “Buy” and an average target price of $87.77.

Shares of CVS Health Corp (NYSE:CVS) opened at $69.39 on Friday. CVS Health Corp has a 1-year low of $66.45 and a 1-year high of $84.00. The stock has a market capitalization of $70,291.52, a price-to-earnings ratio of 10.72, a P/E/G ratio of 1.16 and a beta of 0.93. The company has a current ratio of 1.02, a quick ratio of 0.55 and a debt-to-equity ratio of 0.59.

CVS Health (NYSE:CVS) last announced its quarterly earnings results on Thursday, February 8th. The pharmacy operator reported $1.92 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.88 by $0.04. CVS Health had a return on equity of 17.21% and a net margin of 3.58%. The business had revenue of $48.39 billion during the quarter, compared to the consensus estimate of $47.54 billion. During the same quarter in the prior year, the company posted $1.71 earnings per share. CVS Health’s revenue was up 5.3% compared to the same quarter last year. analysts forecast that CVS Health Corp will post 6.47 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which was paid on Friday, February 2nd. Investors of record on Wednesday, January 24th were issued a dividend of $0.50 per share. The ex-dividend date was Tuesday, January 23rd. This represents a $2.00 annualized dividend and a yield of 2.88%. CVS Health’s dividend payout ratio (DPR) is currently 30.91%.

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About CVS Health

CVS Health Corporation, together with its subsidiaries, is an integrated pharmacy healthcare company. The Company provides pharmacy care for the senior community through Omnicare, Inc (Omnicare) and Omnicare’s long-term care (LTC) operations, which include distribution of pharmaceuticals, related pharmacy consulting and other ancillary services to chronic care facilities and other care settings.

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Institutional Ownership by Quarter for CVS Health (NYSE:CVS)

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