Canandaigua National Corp Lowers Position in CVS Health Co. (NYSE:CVS)

Canandaigua National Corp lessened its holdings in CVS Health Co. (NYSE:CVSGet Rating) by 2.6% during the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 61,215 shares of the pharmacy operator’s stock after selling 1,611 shares during the period. CVS Health accounts for approximately 1.0% of Canandaigua National Corp’s portfolio, making the stock its 25th largest holding. Canandaigua National Corp’s holdings in CVS Health were worth $5,672,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Revolve Wealth Partners LLC raised its position in shares of CVS Health by 2.8% in the first quarter. Revolve Wealth Partners LLC now owns 4,328 shares of the pharmacy operator’s stock worth $438,000 after buying an additional 119 shares in the last quarter. Acropolis Investment Management LLC raised its position in CVS Health by 77.1% during the first quarter. Acropolis Investment Management LLC now owns 3,018 shares of the pharmacy operator’s stock valued at $305,000 after purchasing an additional 1,314 shares in the last quarter. Glassy Mountain Advisors Inc. raised its position in CVS Health by 1.1% during the first quarter. Glassy Mountain Advisors Inc. now owns 72,680 shares of the pharmacy operator’s stock valued at $7,356,000 after purchasing an additional 825 shares in the last quarter. DeDora Capital Inc. purchased a new stake in CVS Health during the first quarter valued at about $68,000. Finally, Equitable Trust Co. raised its position in CVS Health by 2.7% during the first quarter. Equitable Trust Co. now owns 7,114 shares of the pharmacy operator’s stock valued at $720,000 after purchasing an additional 186 shares in the last quarter. Hedge funds and other institutional investors own 77.64% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on CVS. Credit Suisse Group raised their price target on CVS Health from $113.00 to $117.00 and gave the company an “outperform” rating in a research report on Monday, August 8th. Deutsche Bank Aktiengesellschaft lifted their price objective on CVS Health from $113.00 to $120.00 in a report on Thursday, August 4th. Sanford C. Bernstein downgraded CVS Health from an “outperform” rating to a “market perform” rating and decreased their price objective for the stock from $122.00 to $112.00 in a report on Thursday, May 26th. Loop Capital assumed coverage on CVS Health in a report on Thursday, June 16th. They issued a “buy” rating and a $120.00 price objective on the stock. Finally, UBS Group lifted their price objective on CVS Health from $118.00 to $127.00 and gave the stock a “buy” rating in a report on Thursday, August 4th. Four research analysts have rated the stock with a hold rating, nineteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, CVS Health presently has a consensus rating of “Moderate Buy” and a consensus price target of $117.59.

CVS Health Price Performance

Shares of NYSE CVS opened at $102.06 on Monday. CVS Health Co. has a twelve month low of $81.78 and a twelve month high of $111.25. The firm has a market cap of $133.99 billion, a P/E ratio of 16.60, a PEG ratio of 1.56 and a beta of 0.73. The company has a 50 day moving average of $99.60 and a 200 day moving average of $99.32. The company has a quick ratio of 0.65, a current ratio of 0.91 and a debt-to-equity ratio of 0.67.

CVS Health (NYSE:CVSGet Rating) last announced its earnings results on Wednesday, August 3rd. The pharmacy operator reported $2.40 earnings per share for the quarter, beating analysts’ consensus estimates of $2.16 by $0.24. The business had revenue of $80.64 billion during the quarter, compared to analyst estimates of $76.38 billion. CVS Health had a net margin of 2.65% and a return on equity of 15.19%. The company’s quarterly revenue was up 11.0% compared to the same quarter last year. During the same period in the previous year, the business earned $2.42 EPS. As a group, research analysts expect that CVS Health Co. will post 8.53 EPS for the current fiscal year.

CVS Health Dividend Announcement

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

Insider Buying and Selling at CVS Health

In other news, EVP Thomas M. Moriarty sold 138,654 shares of the business’s stock in a transaction 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 sale, the executive vice president now owns 626,273 shares of the company’s stock, valued at approximately $59,495,935. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other news, EVP Alan Lotvin sold 22,541 shares of the business’s stock in a transaction on Thursday, August 4th. The shares were sold at an average price of $104.00, for a total transaction of $2,344,264.00. Following the completion of the sale, the executive vice president now owns 109,183 shares of the company’s stock, valued at approximately $11,355,032. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, EVP Thomas M. Moriarty sold 138,654 shares of the business’s stock in a transaction 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 sale, the executive vice president now directly owns 626,273 shares of the company’s stock, valued at approximately $59,495,935. The disclosure for this sale can be found here. Company insiders own 0.69% of the company’s stock.

CVS Health Company Profile

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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.

Further Reading

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

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