Mengis Capital Management Inc. Cuts Holdings in CVS Health Co. (NYSE:CVS)

Mengis Capital Management Inc. reduced its position in CVS Health Co. (NYSE:CVS) by 48.2% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 24,030 shares of the pharmacy operator’s stock after selling 22,359 shares during the quarter. Mengis Capital Management Inc.’s holdings in CVS Health were worth $1,079,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also made changes to their positions in CVS. MidAtlantic Capital Management Inc. purchased a new position in shares of CVS Health in the 3rd quarter worth $25,000. Ridgewood Investments LLC raised its position in shares of CVS Health by 255.7% in the 4th quarter. Ridgewood Investments LLC now owns 626 shares of the pharmacy operator’s stock worth $28,000 after buying an additional 450 shares during the period. Stonebridge Financial Group LLC purchased a new position in shares of CVS Health in the 4th quarter worth $28,000. Legacy Investment Solutions LLC purchased a new position in shares of CVS Health in the 3rd quarter worth $31,000. Finally, Reston Wealth Management LLC purchased a new position in shares of CVS Health in the 3rd quarter worth $32,000. 80.66% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research analysts have commented on CVS shares. Deutsche Bank Aktiengesellschaft raised CVS Health from a “hold” rating to a “buy” rating and set a $66.00 price objective on the stock in a research report on Tuesday, December 3rd. Royal Bank of Canada cut their price objective on CVS Health from $68.00 to $58.00 and set an “outperform” rating on the stock in a research report on Friday, November 15th. TD Cowen raised their price objective on CVS Health from $73.00 to $80.00 and gave the company a “buy” rating in a research report on Monday, November 25th. Evercore ISI raised their price objective on CVS Health from $60.00 to $65.00 and gave the company an “outperform” rating in a research report on Monday, January 27th. Finally, Wolfe Research raised their price objective on CVS Health from 67.00 to 70.00 and gave the company an “overweight” rating in a research report on Tuesday, February 11th. Four research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, CVS Health currently has a consensus rating of “Moderate Buy” and an average target price of $70.00.

CVS Health Stock Down 0.8 %

NYSE:CVS opened at $62.95 on Tuesday. The company has a market capitalization of $79.37 billion, a price-to-earnings ratio of 17.20, a price-to-earnings-growth ratio of 0.98 and a beta of 0.61. CVS Health Co. has a one year low of $43.56 and a one year high of $80.75. The stock has a 50-day simple moving average of $52.72 and a 200 day simple moving average of $56.25. The company has a debt-to-equity ratio of 0.80, a quick ratio of 0.60 and a current ratio of 0.81.

CVS Health (NYSE:CVS) last posted its quarterly earnings results on Wednesday, February 12th. The pharmacy operator reported $1.19 EPS for the quarter, topping analysts’ consensus estimates of $0.89 by $0.30. CVS Health had a return on equity of 9.11% and a net margin of 1.24%. Sell-side analysts predict that CVS Health Co. will post 5.89 EPS for the current fiscal year.

CVS Health Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, February 3rd. Shareholders of record on Thursday, January 23rd were paid a $0.665 dividend. The ex-dividend date was Thursday, January 23rd. This represents a $2.66 dividend on an annualized basis and a yield of 4.23%. CVS Health’s payout ratio is currently 72.68%.

Insider Buying and Selling at CVS Health

In other CVS Health news, Director Michael F. Mahoney purchased 30,000 shares of the business’s stock in a transaction dated Tuesday, February 18th. The shares were bought at an average price of $66.70 per share, with a total value of $2,001,000.00. Following the completion of the acquisition, the director now owns 39,356 shares in the company, valued at approximately $2,625,045.20. This represents a 320.65 % increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.24% of the stock is currently owned by insiders.

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.