Toronto Dominion Bank Reduces Stake in CVS Health Co. (NYSE:CVS)

Toronto Dominion Bank decreased its position in CVS Health Co. (NYSE:CVS) by 41.9% during the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 876,151 shares of the pharmacy operator’s stock after selling 631,920 shares during the period. Toronto Dominion Bank owned about 0.07% of CVS Health worth $39,330,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in CVS. Whitebox Advisors LLC acquired a new stake in CVS Health during the 4th quarter valued at $249,000. B&D White Capital Company LLC acquired a new stake in shares of CVS Health during the fourth quarter valued at $417,000. Fairfax Financial Holdings Ltd. Can purchased a new stake in CVS Health during the 4th quarter worth about $121,742,000. Lazard Asset Management LLC lifted its holdings in CVS Health by 7.3% in the 4th quarter. Lazard Asset Management LLC now owns 4,290,953 shares of the pharmacy operator’s stock valued at $192,617,000 after purchasing an additional 293,406 shares in the last quarter. Finally, Seizert Capital Partners LLC boosted its stake in shares of CVS Health by 22.8% during the 4th quarter. Seizert Capital Partners LLC now owns 569,527 shares of the pharmacy operator’s stock worth $25,566,000 after purchasing an additional 105,708 shares during the last quarter. Hedge funds and other institutional investors own 80.66% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have recently weighed in on CVS. Mizuho boosted their price objective on shares of CVS Health from $70.00 to $76.00 and gave the company an “outperform” rating in a research report on Wednesday, April 9th. Leerink Partnrs upgraded CVS Health from a “hold” rating to a “strong-buy” rating in a report on Wednesday, February 12th. UBS Group raised their price objective on CVS Health from $67.00 to $71.00 and gave the stock a “neutral” rating in a report on Friday, May 2nd. Argus set a $77.00 target price on CVS Health in a research note on Tuesday, February 18th. Finally, Robert W. Baird raised their price target on CVS Health from $51.00 to $71.00 and gave the stock a “neutral” rating in a research note on Tuesday, April 15th. Three analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $74.94.

CVS Health Trading Up 1.0%

Shares of CVS opened at $60.80 on Tuesday. CVS Health Co. has a 12 month low of $43.56 and a 12 month high of $72.51. The stock’s 50-day moving average is $66.01 and its two-hundred day moving average is $59.45. The company has a debt-to-equity ratio of 0.80, a current ratio of 0.81 and a quick ratio of 0.60. The stock has a market cap of $76.91 billion, a PE ratio of 16.61, a P/E/G ratio of 0.98 and a beta of 0.60.

CVS Health (NYSE:CVS) last released its quarterly earnings results on Thursday, May 1st. The pharmacy operator reported $2.25 EPS for the quarter, topping the consensus estimate of $1.62 by $0.63. CVS Health had a return on equity of 9.11% and a net margin of 1.24%. The firm had revenue of $94.59 billion for the quarter, compared to analyst estimates of $93.07 billion. During the same period in the previous year, the company posted $1.31 EPS. CVS Health’s revenue for the quarter was up 7.0% on a year-over-year basis. Equities analysts forecast that CVS Health Co. will post 5.89 earnings per share for the current fiscal year.

CVS Health Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, May 1st. Shareholders of record on Tuesday, April 22nd were issued a $0.665 dividend. The ex-dividend date of this dividend was Tuesday, April 22nd. This represents a $2.66 dividend on an annualized basis and a yield of 4.38%. CVS Health’s dividend payout ratio is currently 63.48%.

Insider Buying and Selling at CVS Health

In other CVS Health news, SVP James David Clark sold 7,513 shares of the company’s stock in a transaction that occurred on Wednesday, March 5th. The stock was sold at an average price of $66.35, for a total value of $498,487.55. Following the transaction, the senior vice president now directly owns 8,394 shares of the company’s stock, valued at $556,941.90. This represents a 47.23% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. 1.22% of the stock is currently owned by corporate insiders.

CVS Health Company 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.