CVS Health Co. (NYSE:CVS) Shares Sold by Geneos Wealth Management Inc.

Geneos Wealth Management Inc. lessened its stake in shares of CVS Health Co. (NYSE:CVS) by 90.9% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 5,757 shares of the pharmacy operator’s stock after selling 57,711 shares during the period. Geneos Wealth Management Inc.’s holdings in CVS Health were worth $258,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also recently modified their holdings of CVS. Assetmark Inc. grew its stake in shares of CVS Health by 9.7% in the 3rd quarter. Assetmark Inc. now owns 410,001 shares of the pharmacy operator’s stock valued at $25,781,000 after buying an additional 36,132 shares during the period. TD Private Client Wealth LLC grew its position in CVS Health by 28.7% in the third quarter. TD Private Client Wealth LLC now owns 46,938 shares of the pharmacy operator’s stock worth $2,951,000 after acquiring an additional 10,465 shares during the period. Cullinan Associates Inc. increased its stake in CVS Health by 43.8% during the third quarter. Cullinan Associates Inc. now owns 122,682 shares of the pharmacy operator’s stock worth $7,125,000 after acquiring an additional 37,395 shares during the last quarter. Principal Financial Group Inc. lifted its stake in shares of CVS Health by 4.8% in the 3rd quarter. Principal Financial Group Inc. now owns 1,434,476 shares of the pharmacy operator’s stock valued at $90,200,000 after purchasing an additional 66,244 shares during the last quarter. Finally, Sompo Asset Management Co. Ltd. increased its position in shares of CVS Health by 8.4% during the 3rd quarter. Sompo Asset Management Co. Ltd. now owns 134,523 shares of the pharmacy operator’s stock worth $8,459,000 after purchasing an additional 10,453 shares during the last quarter. Hedge funds and other institutional investors own 80.66% of the company’s stock.

CVS Health Trading Down 0.6 %

Shares of CVS Health stock opened at $57.00 on Thursday. CVS Health Co. has a 12-month low of $43.56 and a 12-month high of $80.75. The stock has a market cap of $71.73 billion, a price-to-earnings ratio of 14.47, a PEG ratio of 0.80 and a beta of 0.59. The company has a current ratio of 0.80, a quick ratio of 0.59 and a debt-to-equity ratio of 0.80. The company has a fifty day simple moving average of $51.27 and a 200-day simple moving average of $56.18.

CVS Health (NYSE:CVS) last posted its earnings results on Wednesday, November 6th. The pharmacy operator reported $1.09 EPS for the quarter, topping analysts’ consensus estimates of $1.08 by $0.01. The business had revenue of $95.43 billion for the quarter, compared to analysts’ expectations of $92.72 billion. CVS Health had a return on equity of 10.72% and a net margin of 1.36%. The business’s revenue was up 6.3% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $2.21 earnings per share. On average, equities analysts forecast that CVS Health Co. will post 5.22 EPS for the current fiscal year.

CVS Health Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, February 3rd. Investors of record on Thursday, January 23rd will be paid a dividend of $0.665 per share. This represents a $2.66 dividend on an annualized basis and a yield of 4.67%. The ex-dividend date is Thursday, January 23rd. CVS Health’s dividend payout ratio is currently 67.51%.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on CVS shares. Mizuho lowered their target price on shares of CVS Health from $73.00 to $66.00 and set an “outperform” rating for the company in a research note on Thursday, October 24th. Evercore ISI lifted their price objective on CVS Health from $60.00 to $65.00 and gave the company an “outperform” rating in a research note on Monday. Royal Bank of Canada lowered their target price on CVS Health from $68.00 to $58.00 and set an “outperform” rating for the company in a report on Friday, November 15th. Truist Financial dropped their price objective on shares of CVS Health from $67.00 to $60.00 and set a “buy” rating for the company in a report on Monday, January 6th. Finally, Deutsche Bank Aktiengesellschaft raised shares of CVS Health from a “hold” rating to a “buy” rating and set a $66.00 price target for the company in a research report on Tuesday, December 3rd. One investment analyst has rated the stock with a sell rating, six have given a hold rating and thirteen have given a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $68.12.

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.