Victory Capital Management Inc. Sells 291,212 Shares of CVS Health Co. (NYSE:CVS)

Victory Capital Management Inc. decreased its holdings in shares of CVS Health Co. (NYSE:CVS) by 19.5% during the 3rd quarter, Holdings Channel reports. The firm owned 1,202,325 shares of the pharmacy operator’s stock after selling 291,212 shares during the quarter. Victory Capital Management Inc.’s holdings in CVS Health were worth $75,602,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Livelsberger Financial Advisory bought a new stake in shares of CVS Health during the 3rd quarter valued at about $31,000. Crewe Advisors LLC bought a new stake in shares of CVS Health during the 1st quarter valued at about $40,000. Reston Wealth Management LLC bought a new stake in shares of CVS Health during the 3rd quarter valued at about $32,000. Kathleen S. Wright Associates Inc. bought a new stake in shares of CVS Health during the 3rd quarter valued at about $33,000. Finally, First Community Trust NA boosted its position 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 valued at $33,000 after purchasing an additional 302 shares in the last quarter. Institutional investors own 80.66% of the company’s stock.

CVS Health Stock Performance

Shares of CVS opened at $54.27 on Thursday. 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 market capitalization of $68.29 billion, a price-to-earnings ratio of 13.77, a PEG ratio of 0.94 and a beta of 0.55. The stock has a 50 day moving average of $59.47 and a 200 day moving average of $58.88. CVS Health Co. has a 12 month low of $52.77 and a 12 month high of $83.25.

CVS Health (NYSE:CVS) last issued its quarterly earnings results on Wednesday, November 6th. The pharmacy operator reported $1.09 EPS for the quarter, beating analysts’ consensus estimates of $1.08 by $0.01. The company had revenue of $95.43 billion during the quarter, compared to the consensus estimate of $92.72 billion. CVS Health had a return on equity of 10.72% and a net margin of 1.36%. CVS Health’s revenue was up 6.3% on a year-over-year basis. During the same period last year, the business posted $2.21 earnings per share. As a group, sell-side analysts forecast that CVS Health Co. will post 5.44 earnings per share for the current year.

CVS Health Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, November 1st. Shareholders of record on Monday, October 21st were given a $0.665 dividend. This represents a $2.66 dividend on an annualized basis and a yield of 4.90%. The ex-dividend date was Monday, October 21st. CVS Health’s dividend payout ratio is currently 67.51%.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on CVS. Mizuho cut their price target on CVS Health from $73.00 to $66.00 and set an “outperform” rating on the stock in a report on Thursday, October 24th. TD Cowen upgraded CVS Health from a “hold” rating to a “buy” rating and increased their price target for the stock from $59.00 to $85.00 in a report on Friday, October 4th. Wells Fargo & Company cut their price target on CVS Health from $61.00 to $60.00 and set an “equal weight” rating on the stock in a report on Monday, November 4th. Evercore ISI increased their price target on CVS Health from $62.00 to $75.00 and gave the stock an “outperform” rating in a report on Tuesday, October 8th. Finally, Royal Bank of Canada reiterated an “outperform” rating and issued a $68.00 price target on shares of CVS Health in a report on Wednesday, September 4th. Nine investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $73.00.

CVS Health 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.