MCF Advisors LLC Reduces Stock Position in CVS Health Co. (NYSE:CVS)

MCF Advisors LLC cut its stake in shares of CVS Health Co. (NYSE:CVS) by 17.1% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 2,471 shares of the pharmacy operator’s stock after selling 510 shares during the period. MCF Advisors LLC’s holdings in CVS Health were worth $155,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of CVS. Wealth Enhancement Advisory Services LLC lifted its stake in shares of CVS Health by 0.4% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 202,838 shares of the pharmacy operator’s stock worth $16,178,000 after purchasing an additional 823 shares during the period. Financial Management Professionals Inc. grew its holdings in CVS Health by 14.8% during the first quarter. Financial Management Professionals Inc. now owns 3,948 shares of the pharmacy operator’s stock valued at $315,000 after purchasing an additional 508 shares during the period. OneAscent Financial Services LLC increased its holdings in CVS Health by 6.4% in the 1st quarter. OneAscent Financial Services LLC now owns 7,032 shares of the pharmacy operator’s stock worth $561,000 after acquiring an additional 425 shares in the last quarter. Vicus Capital raised its stake in CVS Health by 12.8% during the 1st quarter. Vicus Capital now owns 6,330 shares of the pharmacy operator’s stock worth $505,000 after acquiring an additional 717 shares during the period. Finally, Coston McIsaac & Partners boosted its position in shares of CVS Health by 34.3% in the first quarter. Coston McIsaac & Partners now owns 724 shares of the pharmacy operator’s stock worth $57,000 after purchasing an additional 185 shares during the period. 80.66% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of research firms recently weighed in on CVS. Cantor Fitzgerald restated a “neutral” rating and set a $62.00 target price on shares of CVS Health in a research note on Tuesday, October 1st. TD Cowen raised shares of CVS Health from a “hold” rating to a “buy” rating and increased their price objective for the company from $59.00 to $85.00 in a report on Friday, October 4th. Evercore ISI upped their target price on shares of CVS Health from $62.00 to $75.00 and gave the stock an “outperform” rating in a research report on Tuesday, October 8th. Deutsche Bank Aktiengesellschaft reduced their price target on shares of CVS Health from $64.00 to $63.00 and set a “hold” rating on the stock in a report on Friday, August 9th. Finally, Mizuho cut their price objective on CVS Health from $73.00 to $66.00 and set an “outperform” rating for the company in a research report on Thursday. Nine research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $74.58.

CVS Health Stock Up 0.7 %

Shares of NYSE CVS traded up $0.37 during midday trading on Friday, reaching $56.49. 8,439,033 shares of the company’s stock traded hands, compared to its average volume of 11,224,411. The stock’s 50 day simple moving average is $59.82 and its 200-day simple moving average is $60.02. The company has a quick ratio of 0.66, a current ratio of 0.86 and a debt-to-equity ratio of 0.83. The company has a market cap of $71.06 billion, a price-to-earnings ratio of 10.05, a P/E/G ratio of 0.84 and a beta of 0.54. CVS Health Co. has a one year low of $52.77 and a one year high of $83.25.

CVS Health (NYSE:CVS) last posted its earnings results on Wednesday, August 7th. The pharmacy operator reported $1.83 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.73 by $0.10. CVS Health had a return on equity of 12.72% and a net margin of 1.98%. The company had revenue of $91.23 billion for the quarter, compared to analyst estimates of $91.41 billion. During the same quarter in the previous year, the firm earned $2.21 earnings per share. The firm’s quarterly revenue was up 2.6% compared to the same quarter last year. On average, analysts predict that CVS Health Co. will post 6.41 EPS for the current fiscal year.

CVS Health Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 1st. Investors of record on Monday, October 21st will be paid a dividend of $0.665 per share. The ex-dividend date of this dividend is Monday, October 21st. This represents a $2.66 annualized dividend and a yield of 4.71%. CVS Health’s dividend payout ratio (DPR) is 47.33%.

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.