STAR Financial Bank Sells 200 Shares of CVS Health Co. (NYSE:CVS)

STAR Financial Bank decreased its stake in shares of CVS Health Co. (NYSE:CVSFree Report) by 2.5% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 7,682 shares of the pharmacy operator’s stock after selling 200 shares during the quarter. STAR Financial Bank’s holdings in CVS Health were worth $613,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Catalina Capital Group LLC bought a new position in CVS Health during the first quarter valued at $395,000. Avidian Wealth Solutions LLC raised its stake in shares of CVS Health by 10.1% in the first quarter. Avidian Wealth Solutions LLC now owns 2,971 shares of the pharmacy operator’s stock valued at $237,000 after acquiring an additional 272 shares during the period. Mediolanum International Funds Ltd purchased a new stake in shares of CVS Health in the first quarter valued at $1,882,000. Pzena Investment Management LLC raised its stake in shares of CVS Health by 573.8% in the first quarter. Pzena Investment Management LLC now owns 5,553,457 shares of the pharmacy operator’s stock valued at $442,944,000 after acquiring an additional 4,729,207 shares during the period. Finally, Larson Financial Group LLC raised its stake in shares of CVS Health by 8.4% in the first quarter. Larson Financial Group LLC now owns 6,995 shares of the pharmacy operator’s stock valued at $558,000 after acquiring an additional 543 shares during the period. Institutional investors own 80.66% of the company’s stock.

CVS Health Price Performance

CVS traded down $0.10 on Wednesday, hitting $57.52. 11,033,236 shares of the company’s stock were exchanged, compared to its average volume of 11,847,051. CVS Health Co. has a fifty-two week low of $52.77 and a fifty-two week high of $83.25. The company has a current ratio of 0.81, a quick ratio of 0.61 and a debt-to-equity ratio of 0.78. The firm has a 50-day moving average price of $58.08 and a 200-day moving average price of $69.10. The stock has a market cap of $72.21 billion, a price-to-earnings ratio of 10.11, a P/E/G ratio of 0.54 and a beta of 0.52.

CVS Health (NYSE:CVSGet Free Report) last announced 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 analyst estimates of $89.33 billion. During the same period last year, the firm earned $2.20 EPS. The company’s revenue for the quarter was up 3.7% compared to the same quarter last year. As a group, equities analysts anticipate that CVS Health Co. will post 7.02 earnings per share for the current year.

CVS Health Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, August 1st. Stockholders of record on Monday, July 22nd will be given a dividend of $0.665 per share. The ex-dividend date is Monday, July 22nd. This represents a $2.66 annualized dividend and a dividend yield of 4.62%. CVS Health’s payout ratio is 46.75%.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on the stock. Argus reduced their target price on shares of CVS Health from $100.00 to $80.00 and set a “buy” rating on the stock in a research note on Wednesday, May 8th. Cantor Fitzgerald reissued a “neutral” rating and issued a $58.00 target price on shares of CVS Health in a research note on Wednesday, June 12th. TD Cowen downgraded shares of CVS Health from a “buy” rating to a “hold” rating and reduced their price target for the stock from $99.00 to $59.00 in a research note on Tuesday, May 7th. Wells Fargo & Company reduced their price target on shares of CVS Health from $76.00 to $60.00 and set an “equal weight” rating on the stock in a research note on Tuesday, May 7th. Finally, Piper Sandler raised their price target on shares of CVS Health from $93.00 to $94.00 and gave the stock an “overweight” rating in a research note on Friday, March 15th. Eleven investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $75.05.

View Our Latest Report on CVS Health

Insider Activity

In related news, Director Edward J. Ludwig bought 1,000 shares of the firm’s stock in a transaction on Thursday, May 2nd. The shares were bought at an average price of $53.88 per share, with a total value of $53,880.00. Following the completion of the transaction, the director now directly owns 21,630 shares of the company’s stock, valued at approximately $1,165,424.40. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 0.24% of the company’s stock.

About CVS Health

(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.

Further Reading

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

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