BTR Capital Management Inc. Sells 17,869 Shares of CVS Health Co. (NYSE:CVS)

BTR Capital Management Inc. reduced its stake in shares of CVS Health Co. (NYSE:CVSGet Rating) by 27.9% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 46,125 shares of the pharmacy operator’s stock after selling 17,869 shares during the quarter. BTR Capital Management Inc.’s holdings in CVS Health were worth $4,274,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Macroview Investment Management LLC grew its stake in shares of CVS Health by 128.3% during the first quarter. Macroview Investment Management LLC now owns 242 shares of the pharmacy operator’s stock valued at $25,000 after purchasing an additional 136 shares during the last quarter. Claremont Financial Group Inc. bought a new position in CVS Health in the fourth quarter valued at approximately $26,000. Stuart Chaussee & Associates Inc. boosted its stake in CVS Health by 123.0% in the first quarter. Stuart Chaussee & Associates Inc. now owns 310 shares of the pharmacy operator’s stock valued at $31,000 after acquiring an additional 171 shares during the last quarter. Rise Advisors LLC bought a new position in CVS Health in the fourth quarter valued at approximately $41,000. Finally, Carl Stuart Investment Advisor Inc. bought a new position in CVS Health in the first quarter valued at approximately $41,000. 77.64% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on the stock. Credit Suisse Group raised their price objective on shares of CVS Health from $113.00 to $117.00 and gave the company an “outperform” rating in a research note on Monday, August 8th. Evercore ISI raised their price objective on shares of CVS Health from $120.00 to $125.00 and gave the company an “outperform” rating in a research note on Wednesday, September 7th. Loop Capital initiated coverage on shares of CVS Health in a research report on Thursday, June 16th. They set a “buy” rating and a $120.00 price target on the stock. Sanford C. Bernstein cut shares of CVS Health from an “outperform” rating to a “market perform” rating and reduced their price target for the stock from $122.00 to $112.00 in a research report on Thursday, May 26th. Finally, Tigress Financial lifted their price target on shares of CVS Health from $125.00 to $130.00 in a research report on Wednesday, August 17th. Four research analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, CVS Health presently has a consensus rating of “Moderate Buy” and a consensus target price of $117.59.

Insider Activity

In other news, EVP Thomas M. Moriarty sold 138,654 shares of the business’s stock in a transaction that occurred on Tuesday, June 28th. The shares were sold at an average price of $95.00, for a total value of $13,172,130.00. Following the completion of the transaction, the executive vice president now directly owns 626,273 shares in the company, valued at approximately $59,495,935. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In related news, EVP Thomas M. Moriarty sold 138,654 shares of the company’s stock in a transaction that occurred on Tuesday, June 28th. The shares were sold at an average price of $95.00, for a total transaction of $13,172,130.00. Following the completion of the transaction, the executive vice president now directly owns 626,273 shares in the company, valued at approximately $59,495,935. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Alan Lotvin sold 22,541 shares of the company’s stock in a transaction that occurred on Thursday, August 4th. The stock was sold at an average price of $104.00, for a total transaction of $2,344,264.00. Following the transaction, the executive vice president now owns 109,183 shares of the company’s stock, valued at $11,355,032. The disclosure for this sale can be found here. Corporate insiders own 0.69% of the company’s stock.

CVS Health Stock Performance

Shares of CVS stock opened at $102.06 on Monday. The company has a market capitalization of $133.99 billion, a price-to-earnings ratio of 16.60, a PEG ratio of 1.56 and a beta of 0.73. The company has a debt-to-equity ratio of 0.67, a quick ratio of 0.65 and a current ratio of 0.91. The company has a 50-day simple moving average of $99.60 and a 200 day simple moving average of $99.32. CVS Health Co. has a 52 week low of $81.78 and a 52 week high of $111.25.

CVS Health (NYSE:CVSGet Rating) last posted its quarterly earnings data on Wednesday, August 3rd. The pharmacy operator reported $2.40 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.16 by $0.24. The firm had revenue of $80.64 billion during the quarter, compared to the consensus estimate of $76.38 billion. CVS Health had a net margin of 2.65% and a return on equity of 15.19%. The business’s revenue for the quarter was up 11.0% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $2.42 EPS. On average, sell-side analysts predict that CVS Health Co. will post 8.53 earnings per share for the current year.

CVS Health Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, August 1st. Shareholders of record on Friday, July 22nd were issued a $0.55 dividend. This represents a $2.20 dividend on an annualized basis and a yield of 2.16%. The ex-dividend date was Thursday, July 21st. CVS Health’s dividend payout ratio is currently 35.77%.

About CVS Health

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CVS Health Corporation provides health services in the United States. The company's Health Care Benefits segment offers traditional, voluntary, and consumer-directed health insurance products and related services. It serves employer groups, individuals, college students, part-time and hourly workers, health plans, health care providers, governmental units, government-sponsored plans, labor groups, and expatriates.

See Also

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

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