Pine Valley Investments Ltd Liability Co Decreases Stock Position in CVS Health Co. (NYSE:CVS)

Pine Valley Investments Ltd Liability Co lessened its stake in CVS Health Co. (NYSE:CVS) by 16.6% in the 3rd quarter, according to its most recent filing with the SEC. The firm owned 20,751 shares of the pharmacy operator’s stock after selling 4,144 shares during the quarter. Pine Valley Investments Ltd Liability Co’s holdings in CVS Health were worth $1,305,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also made changes to their positions in the company. MidAtlantic Capital Management Inc. acquired a new stake in CVS Health in the third quarter valued at $25,000. Livelsberger Financial Advisory acquired a new stake in shares of CVS Health during the 3rd quarter worth about $31,000. Legacy Investment Solutions LLC purchased a new stake in CVS Health during the third quarter worth approximately $31,000. Reston Wealth Management LLC acquired a new position in CVS Health in the third quarter valued at approximately $32,000. Finally, Kathleen S. Wright Associates Inc. purchased a new position in CVS Health in the third quarter valued at approximately $33,000. 80.66% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

CVS has been the subject of several research analyst reports. TD Cowen upped their target price on shares of CVS Health from $73.00 to $80.00 and gave the company a “buy” rating in a report on Monday, November 25th. Wells Fargo & Company raised CVS Health from an “equal weight” rating to an “overweight” rating and raised their price objective for the stock from $60.00 to $66.00 in a report on Monday, November 18th. Deutsche Bank Aktiengesellschaft raised CVS Health from a “hold” rating to a “buy” rating and set a $66.00 target price for the company in a research report on Tuesday, December 3rd. StockNews.com lowered CVS Health from a “hold” rating to a “sell” rating in a research report on Thursday, November 14th. Finally, Piper Sandler lowered their target price on shares of CVS Health from $72.00 to $64.00 and set an “overweight” rating on the stock in a research report on Monday, November 25th. One analyst has rated the stock with a sell rating, six have issued a hold rating and fourteen have given a buy rating to the company’s stock. Based on data from MarketBeat, CVS Health has a consensus rating of “Moderate Buy” and an average target price of $70.50.

CVS Health Trading Down 4.2 %

NYSE:CVS opened at $49.59 on Friday. CVS Health Co. has a 1 year low of $49.47 and a 1 year high of $83.25. The company has a debt-to-equity ratio of 0.80, a quick ratio of 0.59 and a current ratio of 0.80. The stock has a fifty day moving average price of $58.61 and a two-hundred day moving average price of $58.68. The stock has a market capitalization of $62.40 billion, a price-to-earnings ratio of 12.59, a PEG ratio of 0.89 and a beta of 0.54.

CVS Health (NYSE:CVS) last released its quarterly earnings data on Wednesday, November 6th. The pharmacy operator reported $1.09 EPS for the quarter, topping analysts’ consensus estimates of $1.08 by $0.01. CVS Health had a net margin of 1.36% and a return on equity of 10.72%. The firm had revenue of $95.43 billion for the quarter, compared to the consensus estimate of $92.72 billion. During the same quarter in the previous year, the firm earned $2.21 earnings per share. The firm’s revenue was up 6.3% on a year-over-year basis. As a group, sell-side analysts anticipate that CVS Health Co. will post 5.32 earnings per share for the current fiscal year.

CVS Health Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, November 1st. Shareholders of record on Monday, October 21st were given a dividend of $0.665 per share. This represents a $2.66 dividend on an annualized basis and a yield of 5.36%. The ex-dividend date of this dividend was Monday, October 21st. CVS Health’s payout ratio is currently 67.51%.

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.