Janney Capital Management LLC Reduces Holdings in CVS Health Corp (CVS)

Janney Capital Management LLC cut its position in CVS Health Corp (NYSE:CVS) by 8.3% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 209,431 shares of the pharmacy operator’s stock after selling 18,891 shares during the quarter. Janney Capital Management LLC’s holdings in CVS Health were worth $13,722,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. TD Asset Management Inc. raised its position in shares of CVS Health by 170.8% during the fourth quarter. TD Asset Management Inc. now owns 2,038,852 shares of the pharmacy operator’s stock worth $133,586,000 after acquiring an additional 1,285,916 shares during the last quarter. State Board of Administration of Florida Retirement System increased its holdings in CVS Health by 26.2% in the fourth quarter. State Board of Administration of Florida Retirement System now owns 1,751,372 shares of the pharmacy operator’s stock worth $114,750,000 after purchasing an additional 363,115 shares in the last quarter. Naples Global Advisors LLC increased its holdings in CVS Health by 10.6% in the fourth quarter. Naples Global Advisors LLC now owns 9,496 shares of the pharmacy operator’s stock worth $622,000 after purchasing an additional 911 shares in the last quarter. First Mercantile Trust Co. increased its holdings in CVS Health by 2.5% in the fourth quarter. First Mercantile Trust Co. now owns 14,953 shares of the pharmacy operator’s stock worth $979,000 after purchasing an additional 368 shares in the last quarter. Finally, Signature Estate & Investment Advisors LLC bought a new stake in CVS Health in the fourth quarter worth approximately $105,000. Hedge funds and other institutional investors own 90.60% of the company’s stock.

A number of equities research analysts have commented on the company. Leerink Swann raised their price objective on CVS Health from $85.00 to $95.00 and gave the company a “positive” rating in a research note on Thursday, November 8th. Morgan Stanley set a $100.00 price objective on CVS Health and gave the company a “buy” rating in a research note on Wednesday, November 7th. Wolfe Research assumed coverage on CVS Health in a research note on Thursday, October 25th. They issued a “peer perform” rating for the company. Goldman Sachs Group reissued a “neutral” rating and issued a $87.00 price objective on shares of CVS Health in a research note on Thursday, November 29th. Finally, Wells Fargo & Co raised their price objective on CVS Health from $98.00 to $104.00 and gave the company an “outperform” rating in a research note on Tuesday, November 27th. One analyst has rated the stock with a sell rating, three have issued a hold rating and fourteen have given a buy rating to the company. The stock has an average rating of “Buy” and an average price target of $87.25.

Shares of NYSE:CVS opened at $62.35 on Friday. The company has a market cap of $65.43 billion, a P/E ratio of 8.81, a P/E/G ratio of 0.95 and a beta of 1.03. The company has a debt-to-equity ratio of 1.22, a quick ratio of 1.94 and a current ratio of 1.03. CVS Health Corp has a 12-month low of $60.14 and a 12-month high of $82.15.

CVS Health (NYSE:CVS) last announced its earnings results on Wednesday, February 20th. The pharmacy operator reported $2.14 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $2.07 by $0.07. The company had revenue of $54.42 billion for the quarter, compared to analysts’ expectations of $53.78 billion. CVS Health had a positive return on equity of 17.49% and a negative net margin of 0.31%. CVS Health’s quarterly revenue was up 12.5% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.92 earnings per share. As a group, research analysts predict that CVS Health Corp will post 6.78 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which was paid on Monday, February 4th. Investors of record on Friday, January 25th were given a dividend of $0.50 per share. The ex-dividend date of this dividend was Thursday, January 24th. This represents a $2.00 annualized dividend and a dividend yield of 3.21%. CVS Health’s payout ratio is 28.25%.

In related news, CFO David M. Denton sold 25,159 shares of CVS Health stock in a transaction that occurred on Thursday, November 29th. The stock was sold at an average price of $80.13, for a total transaction of $2,015,990.67. Following the transaction, the chief financial officer now owns 403 shares of the company’s stock, valued at $32,292.39. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Larry J. Merlo sold 166,368 shares of CVS Health stock in a transaction that occurred on Friday, February 1st. The shares were sold at an average price of $64.51, for a total value of $10,732,399.68. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 435,534 shares of company stock worth $29,245,258. 0.53% of the stock is owned by insiders.

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CVS Health Profile

CVS Health Corporation, together with its subsidiaries, provides integrated pharmacy health care services. It operates through Pharmacy Services and Retail/LTC segments. The Pharmacy Services segment offers pharmacy benefit management solutions, such as plan design and administration, formulary management, Medicare Part D services, mail order, specialty pharmacy and infusion services, retail pharmacy network management services, prescription management systems, clinical services, disease management programs, and medical pharmacy management services.

Further Reading: P/E Growth (PEG)

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Institutional Ownership by Quarter for CVS Health (NYSE:CVS)

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