NorthCrest Asset Manangement LLC Cuts Holdings in CVS Health Co. (NYSE:CVS)

NorthCrest Asset Manangement LLC cut its holdings in shares of CVS Health Co. (NYSE:CVS) by 0.2% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 92,741 shares of the pharmacy operator’s stock after selling 160 shares during the period. NorthCrest Asset Manangement LLC’s holdings in CVS Health were worth $6,283,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. Stonebridge Financial Group LLC acquired a new stake in shares of CVS Health in the fourth quarter valued at $28,000. Hopwood Financial Services Inc. acquired a new stake in shares of CVS Health during the 4th quarter valued at approximately $29,000. McIlrath & Eck LLC raised its position in shares of CVS Health by 32.6% during the 4th quarter. McIlrath & Eck LLC now owns 707 shares of the pharmacy operator’s stock worth $32,000 after purchasing an additional 174 shares during the last quarter. Financial Perspectives Inc raised its position in shares of CVS Health by 137.5% during the 4th quarter. Financial Perspectives Inc now owns 805 shares of the pharmacy operator’s stock worth $36,000 after purchasing an additional 466 shares during the last quarter. Finally, MidAtlantic Capital Management Inc. raised its position in shares of CVS Health by 112.1% during the 4th quarter. MidAtlantic Capital Management Inc. now owns 827 shares of the pharmacy operator’s stock worth $37,000 after purchasing an additional 437 shares during the last quarter. 80.66% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In related news, Director Guy P. Sansone bought 1,570 shares of the stock in a transaction on Thursday, June 5th. The shares were acquired at an average price of $63.70 per share, for a total transaction of $100,009.00. Following the purchase, the director now owns 12,007 shares of the company’s stock, valued at approximately $764,845.90. The trade was a 15.04% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 1.22% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on CVS. JPMorgan Chase & Co. upped their price objective on shares of CVS Health from $80.00 to $81.00 and gave the company an “overweight” rating in a research report on Tuesday, February 18th. UBS Group increased their price objective on shares of CVS Health from $67.00 to $71.00 and gave the company a “neutral” rating in a report on Friday, May 2nd. Robert W. Baird raised their target price on shares of CVS Health from $51.00 to $71.00 and gave the stock a “neutral” rating in a report on Tuesday, April 15th. Cowen reaffirmed a “buy” rating on shares of CVS Health in a research note on Monday, May 5th. Finally, Argus set a $77.00 price target on shares of CVS Health in a report on Tuesday, February 18th. Two investment analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has issued a strong 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 $74.75.

CVS Health Trading Up 1.6%

Shares of CVS opened at $67.42 on Friday. The firm’s 50 day simple moving average is $65.15 and its 200 day simple moving average is $60.15. The company has a market capitalization of $85.29 billion, a P/E ratio of 18.42, a P/E/G ratio of 0.98 and a beta of 0.56. The company has a debt-to-equity ratio of 0.80, a current ratio of 0.81 and a quick ratio of 0.60. CVS Health Co. has a 1-year low of $43.56 and a 1-year high of $72.51.

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

CVS Health Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, May 1st. Stockholders of record on Tuesday, April 22nd were issued a dividend of $0.665 per share. This represents a $2.66 dividend on an annualized basis and a dividend yield of 3.95%. The ex-dividend date was Tuesday, April 22nd. CVS Health’s dividend payout ratio (DPR) is presently 63.48%.

About CVS Health

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.