CVS Health Co. (NYSE:CVS) Position Lessened by LS Investment Advisors LLC

LS Investment Advisors LLC trimmed its position in shares of CVS Health Co. (NYSE:CVS) by 31.1% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 114,601 shares of the pharmacy operator’s stock after selling 51,671 shares during the period. LS Investment Advisors LLC’s holdings in CVS Health were worth $9,562,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently made changes to their positions in the company. MV Capital Management Inc. increased its position in CVS Health by 96.1% during the second quarter. MV Capital Management Inc. now owns 400 shares of the pharmacy operator’s stock worth $33,000 after buying an additional 196 shares during the last quarter. Solstein Capital LLC acquired a new position in CVS Health during the first quarter worth $35,000. D Orazio & Associates Inc. acquired a new stake in shares of CVS Health in the second quarter valued at about $36,000. Smith Asset Management Group LP acquired a new stake in shares of CVS Health in the second quarter valued at about $38,000. Finally, Meridian Wealth Partners LLC grew its position in shares of CVS Health by 53.1% in the first quarter. Meridian Wealth Partners LLC now owns 614 shares of the pharmacy operator’s stock valued at $47,000 after purchasing an additional 213 shares during the last quarter. Institutional investors and hedge funds own 75.94% of the company’s stock.

In related news, EVP Alan Lotvin sold 2,781 shares of the company’s stock in a transaction dated Monday, June 28th. The shares were sold at an average price of $83.67, for a total value of $232,686.27. Following the transaction, the executive vice president now owns 61,048 shares in the company, valued at approximately $5,107,886.16. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, EVP Troyen A. Brennan sold 2,625 shares of the company’s stock in a transaction dated Thursday, September 2nd. The shares were sold at an average price of $87.00, for a total transaction of $228,375.00. Following the completion of the transaction, the executive vice president now owns 140,201 shares in the company, valued at approximately $12,197,487. The disclosure for this sale can be found here. 0.69% of the stock is owned by insiders.

CVS stock traded down $0.28 during midday trading on Tuesday, hitting $84.30. The company’s stock had a trading volume of 219,654 shares, compared to its average volume of 6,438,997. The company has a debt-to-equity ratio of 0.81, a current ratio of 0.95 and a quick ratio of 0.67. CVS Health Co. has a twelve month low of $55.36 and a twelve month high of $90.61. The company’s fifty day moving average price is $83.95 and its 200 day moving average price is $81.49. The stock has a market capitalization of $111.24 billion, a P/E ratio of 15.52, a PEG ratio of 1.68 and a beta of 0.83.

CVS Health (NYSE:CVS) last issued its quarterly earnings results on Tuesday, August 3rd. The pharmacy operator reported $2.42 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.07 by $0.35. CVS Health had a net margin of 2.59% and a return on equity of 13.81%. The firm had revenue of $72.62 billion for the quarter, compared to analyst estimates of $70.27 billion. During the same period in the previous year, the business earned $2.62 EPS. The company’s revenue was up 11.1% compared to the same quarter last year. Equities analysts expect that CVS Health Co. will post 7.84 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which was paid on Monday, August 2nd. Stockholders of record on Friday, July 23rd were paid a dividend of $0.50 per share. The ex-dividend date was Thursday, July 22nd. This represents a $2.00 annualized dividend and a dividend yield of 2.37%. CVS Health’s dividend payout ratio is presently 26.67%.

A number of brokerages have commented on CVS. Morgan Stanley raised their price target on shares of CVS Health from $99.00 to $114.00 and gave the stock an “overweight” rating in a research note on Tuesday, August 31st. Tigress Financial reiterated a “buy” rating and issued a $108.00 target price on shares of CVS Health in a research note on Friday, July 23rd. Wells Fargo & Company assumed coverage on shares of CVS Health in a research note on Monday, May 24th. They issued an “equal weight” rating and a $89.00 target price for the company. Finally, Deutsche Bank Aktiengesellschaft lifted their target price on shares of CVS Health from $95.00 to $101.00 and gave the company a “buy” rating in a research note on Thursday, August 5th. Four research analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, CVS Health currently has an average rating of “Buy” and a consensus price target of $94.89.

CVS Health Profile

CVS Health Corp. engages in the provision of health care services. It operates through the following segments: Pharmacy Services, Retail or Long Term Care, Health Care Benefits, and Corporate/Other. The Pharmacy Services segment offers pharmacy benefit management solutions. The Retail or Long Term Care segment includes selling of prescription drugs and assortment of general merchandise.

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

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