Zurcher Kantonalbank Zurich Cantonalbank Lowers Stock Position in CVS Health Co. (NYSE:CVS)

Zurcher Kantonalbank Zurich Cantonalbank cut its holdings in CVS Health Co. (NYSE:CVS) by 44.1% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 231,259 shares of the pharmacy operator’s stock after selling 182,783 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in CVS Health were worth $18,260,000 as of its most recent SEC filing.

A number of other large investors also recently added to or reduced their stakes in CVS. Cantor Fitzgerald Investment Advisor L.P lifted its holdings in CVS Health by 92.9% in the 1st quarter. Cantor Fitzgerald Investment Advisor L.P now owns 377,875 shares of the pharmacy operator’s stock worth $38,245,000 after purchasing an additional 181,966 shares in the last quarter. United Bank lifted its holdings in CVS Health by 7.2% in the 1st quarter. United Bank now owns 18,658 shares of the pharmacy operator’s stock worth $1,888,000 after purchasing an additional 1,260 shares in the last quarter. Loomis Sayles & Co. L P lifted its holdings in CVS Health by 4,063.8% in the 1st quarter. Loomis Sayles & Co. L P now owns 12,075 shares of the pharmacy operator’s stock worth $1,222,000 after purchasing an additional 11,785 shares in the last quarter. Zions Bancorporation N.A. increased its stake in CVS Health by 116.9% in the 1st quarter. Zions Bancorporation N.A. now owns 2,572 shares of the pharmacy operator’s stock worth $260,000 after acquiring an additional 1,386 shares during the last quarter. Finally, Ergoteles LLC bought a new stake in CVS Health in the 1st quarter worth approximately $1,551,000. 80.66% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at CVS Health

In related news, EVP Prem S. Shah sold 29,473 shares of the company’s stock in a transaction dated Friday, February 16th. The stock was sold at an average price of $76.95, for a total transaction of $2,267,947.35. Following the transaction, the executive vice president now directly owns 39,765 shares of the company’s stock, valued at approximately $3,059,916.75. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 0.24% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of analysts have issued reports on the company. Wells Fargo & Company reduced their price objective on CVS Health from $83.00 to $76.00 and set an “equal weight” rating on the stock in a research note on Monday, April 8th. Leerink Partnrs reaffirmed an “outperform” rating on shares of CVS Health in a research note on Monday, February 26th. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $87.00 price objective on shares of CVS Health in a research note on Wednesday, April 10th. SVB Leerink assumed coverage on CVS Health in a research note on Monday, February 26th. They issued an “outperform” rating and a $88.00 price objective on the stock. Finally, Piper Sandler lifted their price objective on CVS Health from $93.00 to $94.00 and gave the stock an “overweight” rating in a research note on Friday, March 15th. Four analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $89.44.

CVS Health Trading Up 1.2 %

Shares of NYSE CVS opened at $69.39 on Friday. The company has a debt-to-equity ratio of 0.77, a current ratio of 0.86 and a quick ratio of 0.63. The stock has a market capitalization of $87.46 billion, a P/E ratio of 10.74, a price-to-earnings-growth ratio of 0.91 and a beta of 0.52. CVS Health Co. has a 1-year low of $64.41 and a 1-year high of $83.25. The business has a fifty day moving average price of $75.42 and a 200 day moving average price of $73.70.

CVS Health (NYSE:CVS) last issued its quarterly earnings data on Wednesday, February 7th. The pharmacy operator reported $2.12 earnings per share for the quarter, topping analysts’ consensus estimates of $2.01 by $0.11. CVS Health had a return on equity of 15.25% and a net margin of 2.33%. The firm had revenue of $93.81 billion during the quarter, compared to analysts’ expectations of $90.58 billion. During the same period in the prior year, the business posted $1.99 EPS. The firm’s quarterly revenue was up 11.9% on a year-over-year basis. Equities research analysts expect that CVS Health Co. will post 8.32 EPS for the current fiscal year.

CVS Health Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, May 1st. Investors of record on Monday, April 22nd will be given a dividend of $0.665 per share. This represents a $2.66 annualized dividend and a yield of 3.83%. The ex-dividend date of this dividend is Friday, April 19th. CVS Health’s dividend payout ratio is currently 41.18%.

About CVS Health

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.