Ferris Capital LLC Sells 323 Shares of CVS Health Corp (NYSE:CVS)

Ferris Capital LLC trimmed its position in CVS Health Corp (NYSE:CVS) by 2.3% during the second quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 13,673 shares of the pharmacy operator’s stock after selling 323 shares during the quarter. Ferris Capital LLC’s holdings in CVS Health were worth $745,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. Nordea Investment Management AB raised its holdings in shares of CVS Health by 2.8% in the 1st quarter. Nordea Investment Management AB now owns 12,426,745 shares of the pharmacy operator’s stock valued at $670,172,000 after purchasing an additional 340,315 shares during the period. Pinnacle Bank bought a new stake in shares of CVS Health in the 4th quarter valued at about $157,000. Contravisory Investment Management Inc. bought a new stake in shares of CVS Health in the 1st quarter valued at about $3,040,000. Owl Creek Asset Management L.P. grew its stake in CVS Health by 126.1% in the 4th quarter. Owl Creek Asset Management L.P. now owns 1,750,594 shares of the pharmacy operator’s stock valued at $114,699,000 after buying an additional 976,494 shares during the last quarter. Finally, M&R Capital Management Inc. grew its stake in CVS Health by 3.0% in the 1st quarter. M&R Capital Management Inc. now owns 130,126 shares of the pharmacy operator’s stock valued at $6,965,000 after buying an additional 3,794 shares during the last quarter. 77.28% of the stock is currently owned by institutional investors.

A number of brokerages recently commented on CVS. Guggenheim reiterated a “sell” rating on shares of Rite Aid in a research note on Thursday, April 18th. Cantor Fitzgerald reiterated a “buy” rating and set a $60.00 price objective on shares of Benefitfocus in a research report on Wednesday, May 1st. Barclays set a $325.00 target price on shares of Align Technology and gave the company a “buy” rating in a report on Thursday, April 11th. Bank of America set a $25.00 target price on shares of Bed Bath & Beyond and gave the company a “buy” rating in a report on Wednesday, April 10th. Finally, Credit Suisse Group reissued a “sell” rating and issued a $6.50 target price on shares of Deutsche Bank in a report on Monday, April 29th. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating, sixteen have given a buy rating and one has assigned a strong buy rating to the company. CVS Health has a consensus rating of “Buy” and a consensus price target of $76.48.

Shares of CVS stock traded up $0.72 during trading hours on Monday, hitting $56.26. 717,878 shares of the company’s stock traded hands, compared to its average volume of 6,856,759. The firm has a 50 day moving average price of $55.11. The stock has a market cap of $72.15 billion, a PE ratio of 7.95, a PEG ratio of 1.25 and a beta of 0.88. CVS Health Corp has a 12 month low of $51.72 and a 12 month high of $82.15. The company has a current ratio of 0.95, a quick ratio of 0.64 and a debt-to-equity ratio of 1.45.

CVS Health (NYSE:CVS) last released its quarterly earnings results on Wednesday, May 1st. The pharmacy operator reported $1.62 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.50 by $0.12. The firm had revenue of $61.65 billion during the quarter, compared to the consensus estimate of $60.39 billion. CVS Health had a negative net margin of 0.08% and a positive return on equity of 16.80%. The company’s revenue for the quarter was up 34.8% on a year-over-year basis. During the same quarter last year, the firm earned $1.48 earnings per share. Equities analysts forecast that CVS Health Corp will post 6.84 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, August 2nd. Stockholders of record on Thursday, July 25th will be paid a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a dividend yield of 3.55%. The ex-dividend date is Wednesday, July 24th. CVS Health’s payout ratio is currently 28.25%.

CVS Health Company Profile

CVS Health Corporation provides health services and plans in the United States. Its Pharmacy Services segment offers pharmacy benefit management solutions, such as plan design and administration, formulary management, retail pharmacy network management, mail order pharmacy, specialty pharmacy and infusion, Medicare Part D, clinical, disease management, and medical spend management services.

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

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