Mackenzie Financial Corp Trims Stock Position in CVS Health Co. (NYSE:CVS)

Mackenzie Financial Corp lowered its stake in shares of CVS Health Co. (NYSE:CVS) by 1.7% in the fourth quarter, according to its most recent 13F filing with the SEC. The fund owned 745,974 shares of the pharmacy operator’s stock after selling 12,814 shares during the period. Mackenzie Financial Corp’s holdings in CVS Health were worth $58,902,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of CVS. Cantor Fitzgerald Investment Advisor L.P increased its stake in shares of 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 purchasing an additional 181,966 shares in the last quarter. United Bank boosted its holdings in shares of CVS Health by 7.2% during the 1st 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 last quarter. Loomis Sayles & Co. L P boosted its holdings in shares of CVS Health by 4,063.8% during the 1st 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 last quarter. Zions Bancorporation N.A. boosted its holdings in shares of CVS Health by 116.9% during the 1st 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 last quarter. Finally, Ergoteles LLC acquired a new position in shares of CVS Health during the 1st quarter worth approximately $1,551,000. Hedge funds and other institutional investors own 80.66% of the company’s stock.

Insider Activity

In other news, EVP Prem S. Shah sold 29,473 shares of the stock in a transaction that occurred on Friday, February 16th. The shares were 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 directly owns 39,765 shares in the company, valued at $3,059,916.75. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 0.24% of the company’s stock.

Analyst Upgrades and Downgrades

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

CVS Health Stock Performance

Shares of CVS stock opened at $69.03 on Wednesday. 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 firm has a fifty day moving average price of $75.68 and a 200 day moving average price of $73.77. The company has a market cap of $87.01 billion, a P/E ratio of 10.69, a PEG ratio of 0.91 and a beta of 0.52. CVS Health Co. has a 12 month low of $64.41 and a 12 month high of $83.25.

CVS Health (NYSE:CVS) last posted its quarterly earnings results on Wednesday, February 7th. The pharmacy operator reported $2.12 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.01 by $0.11. CVS Health had a net margin of 2.33% and a return on equity of 15.25%. The firm had revenue of $93.81 billion during the quarter, compared to analysts’ expectations of $90.58 billion. During the same period in the prior year, the company posted $1.99 earnings per share. The firm’s revenue for the quarter was up 11.9% on a year-over-year basis. Sell-side analysts predict that CVS Health Co. will post 8.32 earnings per share for the current fiscal year.

CVS Health Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, May 1st. Shareholders of record on Monday, April 22nd will be issued a $0.665 dividend. The ex-dividend date is Friday, April 19th. This represents a $2.66 dividend on an annualized basis and a yield of 3.85%. CVS Health’s dividend payout ratio (DPR) is presently 41.18%.

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.