Mediolanum International Funds Ltd Trims Stake in CVS Health Co. (NYSE:CVS)

Mediolanum International Funds Ltd lowered its stake in CVS Health Co. (NYSE:CVS) by 23.4% during the third quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 13,194 shares of the pharmacy operator’s stock after selling 4,024 shares during the quarter. Mediolanum International Funds Ltd’s holdings in CVS Health were worth $809,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Livelsberger Financial Advisory purchased a new stake in CVS Health in the 3rd quarter valued at approximately $31,000. Crewe Advisors LLC purchased a new position in shares of CVS Health during the 1st quarter worth $40,000. Retirement Group LLC lifted its stake in shares of CVS Health by 54.3% during the 1st quarter. Retirement Group LLC now owns 517 shares of the pharmacy operator’s stock worth $41,000 after purchasing an additional 182 shares during the period. Kathleen S. Wright Associates Inc. purchased a new position in shares of CVS Health during the 3rd quarter worth $33,000. Finally, First Community Trust NA lifted its stake in shares of CVS Health by 116.2% during the 2nd quarter. First Community Trust NA now owns 562 shares of the pharmacy operator’s stock worth $33,000 after purchasing an additional 302 shares during the period. Hedge funds and other institutional investors own 80.66% of the company’s stock.

CVS Health Stock Performance

NYSE:CVS opened at $56.49 on Monday. The company has a debt-to-equity ratio of 0.83, a current ratio of 0.86 and a quick ratio of 0.66. The firm has a 50-day moving average of $59.82 and a two-hundred day moving average of $59.84. The stock has a market cap of $70.92 billion, a P/E ratio of 9.93, a PEG ratio of 0.84 and a beta of 0.54. CVS Health Co. has a 1-year low of $52.77 and a 1-year high of $83.25.

CVS Health (NYSE:CVS) last issued its quarterly earnings results on Wednesday, August 7th. The pharmacy operator reported $1.83 EPS for the quarter, topping the consensus estimate of $1.73 by $0.10. CVS Health had a net margin of 1.98% and a return on equity of 12.72%. The business had revenue of $91.23 billion for the quarter, compared to analysts’ expectations of $91.41 billion. During the same quarter last year, the company posted $2.21 earnings per share. The company’s quarterly revenue was up 2.6% compared to the same quarter last year. On average, research analysts expect that CVS Health Co. will post 6.41 earnings per share for the current fiscal year.

CVS Health Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, November 1st. Stockholders of record on Monday, October 21st will be given a dividend of $0.665 per share. The ex-dividend date is Monday, October 21st. This represents a $2.66 annualized dividend and a dividend yield of 4.71%. CVS Health’s payout ratio is 46.75%.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on CVS. Deutsche Bank Aktiengesellschaft reduced their price target on CVS Health from $64.00 to $63.00 and set a “hold” rating on the stock in a research note on Friday, August 9th. Evercore ISI increased their price target on CVS Health from $62.00 to $75.00 and gave the stock an “outperform” rating in a research note on Tuesday, October 8th. Barclays dropped their price objective on CVS Health from $82.00 to $75.00 and set an “overweight” rating for the company in a report on Wednesday, October 23rd. Cantor Fitzgerald restated a “neutral” rating and set a $62.00 price objective on shares of CVS Health in a report on Tuesday, October 1st. Finally, Truist Financial upped their price objective on CVS Health from $66.00 to $76.00 and gave the stock a “buy” rating in a report on Friday, October 11th. Nine analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $74.58.

CVS Health Company Profile

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.