CVS Health Co. (NYSE:CVS) Shares Sold by Boston Research & Management Inc.

Boston Research & Management Inc. cut its position in shares of CVS Health Co. (NYSE:CVS) by 0.7% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 67,846 shares of the pharmacy operator’s stock after selling 462 shares during the quarter. Boston Research & Management Inc.’s holdings in CVS Health were worth $4,006,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Skandinaviska Enskilda Banken AB publ grew its stake in CVS Health by 2.1% during the second quarter. Skandinaviska Enskilda Banken AB publ now owns 255,435 shares of the pharmacy operator’s stock worth $15,086,000 after buying an additional 5,300 shares during the period. AE Wealth Management LLC raised its position in CVS Health by 12.3% in the second quarter. AE Wealth Management LLC now owns 56,116 shares of the pharmacy operator’s stock valued at $3,314,000 after purchasing an additional 6,151 shares during the period. Drexel Morgan & Co. boosted its position in shares of CVS Health by 99.6% in the second quarter. Drexel Morgan & Co. now owns 200,165 shares of the pharmacy operator’s stock worth $11,822,000 after buying an additional 99,900 shares during the period. Canada Pension Plan Investment Board raised its holdings in shares of CVS Health by 3.3% during the 2nd quarter. Canada Pension Plan Investment Board now owns 1,524,733 shares of the pharmacy operator’s stock valued at $90,051,000 after buying an additional 48,903 shares during the period. Finally, Intech Investment Management LLC lifted its position in CVS Health by 17.1% during the 2nd quarter. Intech Investment Management LLC now owns 56,601 shares of the pharmacy operator’s stock worth $3,343,000 after acquiring an additional 8,261 shares in the last quarter. 80.66% of the stock is currently owned by hedge funds and other institutional investors.

CVS Health Price Performance

NYSE CVS opened at $57.51 on Friday. The company has a 50 day moving average price of $58.31 and a two-hundred day moving average price of $62.60. CVS Health Co. has a 12-month low of $52.77 and a 12-month high of $83.25. The stock has a market capitalization of $72.20 billion, a PE ratio of 10.11, a price-to-earnings-growth ratio of 0.79 and a beta of 0.53. The company has a quick ratio of 0.66, a current ratio of 0.86 and a debt-to-equity ratio of 0.83.

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

CVS Health Dividend Announcement

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. The ex-dividend date is Monday, October 21st. This represents a $2.66 annualized dividend and a yield of 4.63%. CVS Health’s dividend payout ratio (DPR) is currently 46.75%.

Analysts Set New Price Targets

Several research firms have recently commented on CVS. Wells Fargo & Company increased their target price on CVS Health from $60.00 to $61.00 and gave the company an “equal weight” rating in a research note on Monday, August 12th. Robert W. Baird assumed coverage on shares of CVS Health in a research report on Thursday, May 30th. They issued a “neutral” rating and a $61.00 target price for the company. JPMorgan Chase & Co. decreased their price objective on shares of CVS Health from $101.00 to $86.00 and set an “overweight” rating for the company in a report on Thursday, May 30th. Evercore ISI reduced their price target on shares of CVS Health from $65.00 to $62.00 and set an “outperform” rating on the stock in a research report on Thursday, August 8th. Finally, Cantor Fitzgerald reiterated a “neutral” rating and set a $62.00 price objective on shares of CVS Health in a research note on Monday, September 16th. Eleven investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to MarketBeat, CVS Health has an average rating of “Moderate Buy” and a consensus target price 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.