Clear Creek Financial Management LLC Decreases Stock Position in CVS Health Co. (NYSE:CVS)

Clear Creek Financial Management LLC reduced its position in CVS Health Co. (NYSE:CVS) by 6.4% in the third quarter, Holdings Channel.com reports. The fund owned 3,479 shares of the pharmacy operator’s stock after selling 239 shares during the period. Clear Creek Financial Management LLC’s holdings in CVS Health were worth $219,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in CVS. Livelsberger Financial Advisory purchased a new position in CVS Health in the 3rd quarter worth approximately $31,000. Reston Wealth Management LLC purchased a new stake in CVS Health during the 3rd quarter valued at $32,000. First Community Trust NA raised its stake in CVS Health by 116.2% during the 2nd quarter. First Community Trust NA now owns 562 shares of the pharmacy operator’s stock valued at $33,000 after buying an additional 302 shares during the last quarter. Kathleen S. Wright Associates Inc. purchased a new stake in CVS Health during the 3rd quarter valued at $33,000. Finally, ORG Partners LLC raised its stake in CVS Health by 11,840.0% during the 2nd quarter. ORG Partners LLC now owns 597 shares of the pharmacy operator’s stock valued at $35,000 after buying an additional 592 shares during the last quarter. 80.66% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

CVS has been the subject of a number of research reports. Barclays decreased their target price on shares of CVS Health from $82.00 to $75.00 and set an “overweight” rating for the company in a research note on Wednesday, October 23rd. Mizuho decreased their target price on shares of CVS Health from $73.00 to $66.00 and set an “outperform” rating for the company in a research note on Thursday, October 24th. Deutsche Bank Aktiengesellschaft decreased their target price on shares of CVS Health from $64.00 to $63.00 and set a “hold” rating for the company in a research note on Friday, August 9th. Wells Fargo & Company reduced their price objective on CVS Health from $61.00 to $60.00 and set an “equal weight” rating for the company in a research note on Monday. Finally, Cantor Fitzgerald restated a “neutral” rating and issued a $62.00 price objective on shares of CVS Health in a research note on Tuesday, October 1st. Nine research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. Based on data from MarketBeat.com, CVS Health currently has an average rating of “Moderate Buy” and a consensus price target of $73.11.

CVS Health Trading Down 2.1 %

Shares of CVS Health stock opened at $54.65 on Tuesday. The company has a market capitalization of $68.75 billion, a P/E ratio of 9.72, a P/E/G ratio of 0.83 and a beta of 0.55. The company has a debt-to-equity ratio of 0.83, a quick ratio of 0.66 and a current ratio of 0.86. The company has a fifty day moving average of $59.58 and a 200 day moving average of $59.39. CVS Health Co. has a fifty-two week low of $52.77 and a fifty-two week high of $83.25.

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

CVS Health Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, November 1st. Shareholders of record on Monday, October 21st were issued a dividend of $0.665 per share. This represents a $2.66 annualized dividend and a dividend yield of 4.87%. The ex-dividend date of this dividend was Monday, October 21st. CVS Health’s dividend payout ratio (DPR) is presently 47.33%.

CVS Health Company Profile

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.