Bourgeon Capital Management LLC Sells 275 Shares of CVS Health Co. (NYSE:CVS)

Bourgeon Capital Management LLC reduced its stake in CVS Health Co. (NYSE:CVS) by 0.2% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 119,272 shares of the pharmacy operator’s stock after selling 275 shares during the quarter. CVS Health comprises 2.1% of Bourgeon Capital Management LLC’s holdings, making the stock its 17th largest position. Bourgeon Capital Management LLC’s holdings in CVS Health were worth $9,418,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also recently bought and sold shares of CVS. Cantor Fitzgerald Investment Advisor L.P raised its holdings in CVS Health by 92.9% in the 1st quarter. Cantor Fitzgerald Investment Advisor L.P now owns 377,875 shares of the pharmacy operator’s stock valued at $38,245,000 after acquiring an additional 181,966 shares during the period. United Bank increased its holdings in shares of CVS Health by 7.2% during the first quarter. United Bank now owns 18,658 shares of the pharmacy operator’s stock worth $1,888,000 after purchasing an additional 1,260 shares during the period. Loomis Sayles & Co. L P increased its holdings in shares of CVS Health by 4,063.8% during the first quarter. Loomis Sayles & Co. L P now owns 12,075 shares of the pharmacy operator’s stock worth $1,222,000 after purchasing an additional 11,785 shares during the period. Zions Bancorporation N.A. increased its holdings in shares of CVS Health by 116.9% during the first quarter. Zions Bancorporation N.A. now owns 2,572 shares of the pharmacy operator’s stock worth $260,000 after purchasing an additional 1,386 shares during the period. Finally, Ergoteles LLC bought a new position in shares of CVS Health during the first quarter worth approximately $1,551,000. 80.66% of the stock is owned by institutional investors.

Insider Buying and Selling at CVS Health

In other CVS Health news, EVP Prem S. Shah sold 29,473 shares of the company’s stock in a transaction dated Friday, February 16th. The stock was sold at an average price of $76.95, for a total value of $2,267,947.35. Following the sale, the executive vice president now owns 39,765 shares in the company, valued at approximately $3,059,916.75. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 0.24% of the company’s stock.

CVS Health Price Performance

CVS traded up $0.35 on Monday, reaching $68.99. The stock had a trading volume of 4,398,523 shares, compared to its average volume of 10,920,455. CVS Health Co. has a fifty-two week low of $64.41 and a fifty-two week high of $83.25. The firm has a 50-day moving average of $75.85 and a 200-day moving average of $73.78. The company has a current ratio of 0.86, a quick ratio of 0.63 and a debt-to-equity ratio of 0.77. The company has a market capitalization of $86.96 billion, a price-to-earnings ratio of 10.67, a price-to-earnings-growth ratio of 0.91 and a beta of 0.52.

CVS Health (NYSE:CVS) last issued its earnings results on Wednesday, February 7th. The pharmacy operator reported $2.12 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.01 by $0.11. CVS Health had a return on equity of 15.25% and a net margin of 2.33%. The business had revenue of $93.81 billion during the quarter, compared to analysts’ expectations of $90.58 billion. During the same quarter in the prior year, the firm earned $1.99 EPS. The business’s revenue for the quarter was up 11.9% compared to the same quarter last year. As a group, sell-side analysts anticipate that CVS Health Co. will post 8.33 EPS for the current year.

CVS Health Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, May 1st. Shareholders of record on Monday, April 22nd will be given a $0.665 dividend. The ex-dividend date is Friday, April 19th. This represents a $2.66 dividend on an annualized basis and a dividend yield of 3.86%. CVS Health’s dividend payout ratio (DPR) is presently 41.18%.

Analysts Set New Price Targets

Several brokerages have recently commented on CVS. Piper Sandler raised their target price on shares of CVS Health from $93.00 to $94.00 and gave the stock an “overweight” rating in a report on Friday, March 15th. Wells Fargo & Company lowered their target price on shares of CVS Health from $83.00 to $76.00 and set an “equal weight” rating on the stock in a report on Monday, April 8th. Barclays assumed coverage on shares of CVS Health in a report on Wednesday, March 6th. They set an “equal weight” rating and a $78.00 target price on the stock. Leerink Partnrs reiterated an “outperform” rating on shares of CVS Health in a research report on Monday, February 26th. Finally, Cantor Fitzgerald reiterated an “overweight” rating and set a $87.00 price target on shares of CVS Health in a research report on Wednesday, April 10th. Four research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $89.44.

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.