CVS Health Co. (NYSE:CVS) Shares Sold by Fidelis Capital Partners LLC

Fidelis Capital Partners LLC reduced its position in shares of CVS Health Co. (NYSE:CVS) by 18.3% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 18,467 shares of the pharmacy operator’s stock after selling 4,132 shares during the period. Fidelis Capital Partners LLC’s holdings in CVS Health were worth $1,043,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in the company. Capital International Investors raised its holdings in shares of CVS Health by 47.4% during the fourth quarter. Capital International Investors now owns 33,691,698 shares of the pharmacy operator’s stock worth $2,660,298,000 after purchasing an additional 10,837,801 shares during the period. Pzena Investment Management LLC raised its stake in CVS Health by 132.9% during the second quarter. Pzena Investment Management LLC now owns 12,936,388 shares of the pharmacy operator’s stock worth $764,023,000 after acquiring an additional 7,382,931 shares during the period. Capital World Investors lifted its holdings in CVS Health by 8.0% in the first quarter. Capital World Investors now owns 43,776,874 shares of the pharmacy operator’s stock worth $3,491,643,000 after acquiring an additional 3,232,172 shares during the last quarter. State of Michigan Retirement System boosted its stake in CVS Health by 402.5% in the second quarter. State of Michigan Retirement System now owns 2,005,677 shares of the pharmacy operator’s stock valued at $118,455,000 after acquiring an additional 1,606,500 shares during the period. Finally, Junto Capital Management LP acquired a new stake in shares of CVS Health during the 4th quarter worth approximately $111,209,000. 80.66% of the stock is currently owned by institutional investors.

CVS Health Price Performance

NYSE:CVS opened at $57.51 on Monday. CVS Health Co. has a 52-week low of $52.77 and a 52-week high of $83.25. The company has a quick ratio of 0.66, a current ratio of 0.86 and a debt-to-equity ratio of 0.83. The firm has a market cap of $72.20 billion, a P/E ratio of 10.11, a PEG ratio of 0.79 and a beta of 0.53. The business’s 50-day moving average price is $58.31 and its 200 day moving average price is $62.44.

CVS Health (NYSE:CVS) last released its earnings results on Wednesday, August 7th. The pharmacy operator reported $1.83 EPS for the quarter, topping analysts’ consensus estimates of $1.73 by $0.10. The business had revenue of $91.23 billion for the quarter, compared to the consensus estimate of $91.41 billion. CVS Health had a net margin of 1.98% and a return on equity of 12.72%. The business’s revenue for the quarter was up 2.6% on a year-over-year basis. During the same period in the previous year, the firm earned $2.21 EPS. As a group, sell-side analysts predict that CVS Health Co. will post 6.51 earnings per share for the current fiscal year.

CVS Health Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, November 1st. Investors of record on Monday, October 21st will be issued a $0.665 dividend. This represents a $2.66 dividend on an annualized basis and a dividend yield of 4.63%. The ex-dividend date is Monday, October 21st. CVS Health’s payout ratio is 46.75%.

Analyst Ratings Changes

A number of brokerages recently commented on CVS. Baird R W upgraded CVS Health to a “hold” rating in a research note on Thursday, May 30th. Evercore ISI lowered their price target on shares of CVS Health from $65.00 to $62.00 and set an “outperform” rating for the company in a research report on Thursday, August 8th. Robert W. Baird initiated coverage on shares of CVS Health in a research report on Thursday, May 30th. They issued a “neutral” rating and a $61.00 price objective on the stock. Deutsche Bank Aktiengesellschaft decreased their target price on shares of CVS Health from $64.00 to $63.00 and set a “hold” rating for the company in a research report on Friday, August 9th. Finally, Wells Fargo & Company boosted their price objective on CVS Health from $60.00 to $61.00 and gave the stock an “equal weight” rating in a research report on Monday, August 12th. Eleven equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $72.10.

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.