Mengis Capital Management Inc. Sells 822 Shares of CVS Health Co. (NYSE:CVS)

Mengis Capital Management Inc. lessened its stake in CVS Health Co. (NYSE:CVS) by 1.4% during the fourth quarter, Holdings Channel reports. The firm owned 58,602 shares of the pharmacy operator’s stock after selling 822 shares during the period. CVS Health makes up approximately 0.9% of Mengis Capital Management Inc.’s portfolio, making the stock its 27th largest position. Mengis Capital Management Inc.’s holdings in CVS Health were worth $4,627,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Vanguard Group Inc. increased its position in shares of CVS Health by 0.4% during the third quarter. Vanguard Group Inc. now owns 117,162,626 shares of the pharmacy operator’s stock valued at $8,180,295,000 after acquiring an additional 485,744 shares during the last quarter. FMR LLC increased its position in shares of CVS Health by 29.1% during the third quarter. FMR LLC now owns 27,487,238 shares of the pharmacy operator’s stock valued at $1,919,159,000 after acquiring an additional 6,194,441 shares during the last quarter. Northern Trust Corp increased its position in shares of CVS Health by 2.2% during the third quarter. Northern Trust Corp now owns 14,214,296 shares of the pharmacy operator’s stock valued at $992,442,000 after acquiring an additional 305,564 shares during the last quarter. Royal Bank of Canada increased its position in CVS Health by 2.2% in the third quarter. Royal Bank of Canada now owns 14,136,920 shares of the pharmacy operator’s stock worth $987,041,000 after buying an additional 303,512 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. increased its position in CVS Health by 2.6% in the third quarter. Charles Schwab Investment Management Inc. now owns 12,717,825 shares of the pharmacy operator’s stock worth $864,821,000 after buying an additional 324,391 shares during the last quarter. Institutional investors own 80.66% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on CVS. Wells Fargo & Company decreased their target price on CVS Health from $83.00 to $76.00 and set an “equal weight” rating for the company in a research report on Monday, April 8th. Piper Sandler raised their target price on CVS Health from $93.00 to $94.00 and gave the stock an “overweight” rating in a research report on Friday, March 15th. SVB Leerink began coverage on CVS Health in a research report on Monday, February 26th. They issued an “outperform” rating and a $88.00 target price for the company. Barclays began coverage on CVS Health in a research report on Wednesday, March 6th. They issued an “equal weight” rating and a $78.00 price target for the company. Finally, Leerink Partnrs reiterated an “outperform” rating on shares of CVS Health in a research report on Monday, February 26th. Four equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $89.44.

CVS Health Price Performance

NYSE:CVS traded up $0.21 during trading hours on Monday, hitting $69.96. 3,157,654 shares of the company’s stock traded hands, compared to its average volume of 10,753,162. The company has a quick ratio of 0.63, a current ratio of 0.86 and a debt-to-equity ratio of 0.77. The business’s fifty day simple moving average is $75.29 and its two-hundred day simple moving average is $73.77. CVS Health Co. has a 52 week low of $64.41 and a 52 week high of $83.25. The firm has a market cap of $88.18 billion, a P/E ratio of 10.78, a P/E/G ratio of 0.92 and a beta of 0.52.

CVS Health (NYSE:CVS) last issued its quarterly earnings results on Wednesday, February 7th. The pharmacy operator reported $2.12 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.01 by $0.11. CVS Health had a return on equity of 15.25% and a net margin of 2.33%. The firm had revenue of $93.81 billion during the quarter, compared to analyst estimates of $90.58 billion. During the same quarter in the previous year, the company posted $1.99 earnings per share. The company’s revenue was up 11.9% compared to the same quarter last year. On average, research analysts anticipate that CVS Health Co. will post 8.32 earnings per share for the current fiscal year.

CVS Health Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, May 1st. Shareholders of record on Monday, April 22nd will be paid a dividend of $0.665 per share. This represents a $2.66 annualized dividend and a yield of 3.80%. The ex-dividend date of this dividend is Friday, April 19th. CVS Health’s dividend payout ratio (DPR) is currently 41.18%.

Insiders Place Their Bets

In other news, EVP Prem S. Shah sold 29,473 shares of CVS Health stock in a transaction dated Friday, February 16th. The stock was sold at an average price of $76.95, for a total value of $2,267,947.35. Following the transaction, the executive vice president now owns 39,765 shares in the company, valued at $3,059,916.75. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Corporate insiders own 0.24% of the company’s stock.

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.