Thoroughbred Financial Services LLC Trims Position in CVS Health Co. (NYSE:CVS)

Thoroughbred Financial Services LLC cut its holdings in shares of CVS Health Co. (NYSE:CVSFree Report) by 50.4% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm owned 4,786 shares of the pharmacy operator’s stock after selling 4,856 shares during the period. Thoroughbred Financial Services LLC’s holdings in CVS Health were worth $377,000 as of its most recent SEC filing.

Several other hedge funds have also recently made changes to their positions in the business. Coldstream Capital Management Inc. increased its stake in shares of CVS Health by 8.9% during the fourth quarter. Coldstream Capital Management Inc. now owns 19,567 shares of the pharmacy operator’s stock valued at $1,545,000 after buying an additional 1,598 shares during the period. Dynamic Technology Lab Private Ltd purchased a new stake in CVS Health in the fourth quarter worth $1,015,000. Norges Bank purchased a new stake in CVS Health in the fourth quarter worth $1,092,040,000. Kentucky Retirement Systems Insurance Trust Fund grew its stake in CVS Health by 5.4% in the fourth quarter. Kentucky Retirement Systems Insurance Trust Fund now owns 45,758 shares of the pharmacy operator’s stock worth $3,613,000 after purchasing an additional 2,332 shares during the period. Finally, Kentucky Retirement Systems grew its stake in CVS Health by 5.7% in the fourth quarter. Kentucky Retirement Systems now owns 102,766 shares of the pharmacy operator’s stock worth $8,114,000 after purchasing an additional 5,502 shares during the period. 80.66% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities research analysts recently weighed in on the company. Cantor Fitzgerald cut CVS Health from an “overweight” rating to a “neutral” rating and reduced their price target for the stock from $87.00 to $58.00 in a research note on Wednesday, May 1st. The Goldman Sachs Group dropped their target price on CVS Health from $85.00 to $74.00 and set a “buy” rating on the stock in a report on Thursday, May 2nd. Truist Financial reissued a “buy” rating and issued a $66.00 target price (down from $90.00) on shares of CVS Health in a report on Thursday, May 2nd. TD Cowen downgraded CVS Health from a “buy” rating to a “hold” rating and dropped their target price for the stock from $99.00 to $59.00 in a report on Tuesday, May 7th. Finally, UBS Group downgraded CVS Health from a “buy” rating to a “neutral” rating and dropped their target price for the stock from $85.00 to $60.00 in a report on Thursday, May 2nd. Nine research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $76.75.

Read Our Latest Research Report on CVS Health

CVS Health Stock Performance

Shares of CVS opened at $57.46 on Thursday. The company has a quick ratio of 0.61, a current ratio of 0.81 and a debt-to-equity ratio of 0.78. The business has a 50-day simple moving average of $67.98 and a two-hundred day simple moving average of $72.13. The stock has a market cap of $72.13 billion, a price-to-earnings ratio of 10.10, a PEG ratio of 0.55 and a beta of 0.56. CVS Health Co. has a 52 week low of $53.70 and a 52 week high of $83.25.

CVS Health (NYSE:CVSGet Free Report) last released its earnings results on Wednesday, May 1st. The pharmacy operator reported $1.31 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.69 by ($0.38). CVS Health had a return on equity of 13.53% and a net margin of 2.03%. The business had revenue of $88.44 billion for the quarter, compared to analysts’ expectations of $89.33 billion. During the same quarter in the prior year, the business posted $2.20 EPS. The business’s revenue for the quarter was up 3.7% compared to the same quarter last year. On average, analysts expect that CVS Health Co. will post 7.02 EPS for the current year.

CVS Health Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, May 1st. Investors of record on Monday, April 22nd were given a dividend of $0.665 per share. This represents a $2.66 annualized dividend and a dividend yield of 4.63%. The ex-dividend date of this dividend was Friday, April 19th. CVS Health’s dividend payout ratio is currently 46.75%.

Insider Buying and Selling

In other news, Director Edward J. Ludwig purchased 1,000 shares of the business’s stock in a transaction on Thursday, May 2nd. The stock was acquired at an average price of $53.88 per share, for a total transaction of $53,880.00. Following the acquisition, the director now directly owns 21,630 shares of the company’s stock, valued at approximately $1,165,424.40. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.24% of the stock is currently owned by company insiders.

CVS Health Profile

(Free Report)

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.

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

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