Concentric Wealth Management LLC Reduces Holdings in CVS Health Co. (NYSE:CVS)

Concentric Wealth Management LLC cut its position in CVS Health Co. (NYSE:CVS) by 2.3% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 8,662 shares of the pharmacy operator’s stock after selling 200 shares during the quarter. Concentric Wealth Management LLC’s holdings in CVS Health were worth $545,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also added to or reduced their stakes in the company. Zurich Insurance Group Ltd FI acquired a new stake in shares of CVS Health in the 1st quarter valued at about $2,114,000. Waverly Advisors LLC increased its holdings in shares of CVS Health by 25.0% in the 1st quarter. Waverly Advisors LLC now owns 14,057 shares of the pharmacy operator’s stock valued at $1,121,000 after acquiring an additional 2,815 shares during the last quarter. Janus Henderson Group PLC raised its position in shares of CVS Health by 2.5% during the 1st quarter. Janus Henderson Group PLC now owns 177,372 shares of the pharmacy operator’s stock valued at $14,143,000 after acquiring an additional 4,318 shares in the last quarter. Invenomic Capital Management LP increased its stake in CVS Health by 23.3% during the first quarter. Invenomic Capital Management LP now owns 189,996 shares of the pharmacy operator’s stock valued at $15,154,000 after purchasing an additional 35,949 shares during the last quarter. Finally, B. Riley Wealth Advisors Inc. lifted its position in shares of CVS Health by 29.3% in the 1st quarter. B. Riley Wealth Advisors Inc. now owns 79,876 shares of the pharmacy operator’s stock worth $6,371,000 after buying an additional 18,093 shares during the last quarter. 80.66% of the stock is owned by institutional investors and hedge funds.

CVS Health Stock Up 1.6 %

CVS Health stock opened at $58.01 on Monday. The company has a market capitalization of $73.00 billion, a P/E ratio of 14.72, a P/E/G ratio of 0.98 and a beta of 0.55. CVS Health Co. has a 1-year low of $52.71 and a 1-year high of $83.25. The firm’s fifty day simple moving average is $59.21 and its 200-day simple moving average is $58.63. The company has a current ratio of 0.80, a quick ratio of 0.59 and a debt-to-equity ratio of 0.80.

CVS Health (NYSE:CVS) last announced its quarterly earnings results on Wednesday, November 6th. The pharmacy operator reported $1.09 earnings per share for the quarter, topping analysts’ consensus estimates of $1.08 by $0.01. The company had revenue of $95.43 billion during the quarter, compared to analysts’ expectations of $92.72 billion. CVS Health had a return on equity of 10.72% and a net margin of 1.36%. The business’s quarterly revenue was up 6.3% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $2.21 earnings per share. Sell-side analysts forecast that CVS Health Co. will post 5.43 earnings per share for the current fiscal year.

CVS Health Dividend Announcement

The business also recently declared 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. The ex-dividend date was Monday, October 21st. This represents a $2.66 annualized dividend and a yield of 4.59%. CVS Health’s dividend payout ratio (DPR) is presently 67.51%.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on the stock. Cantor Fitzgerald reiterated a “neutral” rating and set a $62.00 price objective on shares of CVS Health in a research note on Tuesday, October 1st. Mizuho cut their price target on CVS Health from $73.00 to $66.00 and set an “outperform” rating on the stock in a report on Thursday, October 24th. Evercore ISI increased their target price on CVS Health from $62.00 to $75.00 and gave the stock an “outperform” rating in a research report on Tuesday, October 8th. Wells Fargo & Company upgraded shares of CVS Health from an “equal weight” rating to an “overweight” rating and upped their price target for the stock from $60.00 to $66.00 in a research report on Monday, November 18th. Finally, Barclays reduced their target price on shares of CVS Health from $75.00 to $71.00 and set an “overweight” rating for the company in a research note on Thursday, November 7th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and thirteen have given a buy rating to the company. According to data from MarketBeat.com, CVS Health has a consensus rating of “Moderate Buy” and an average price target of $72.28.

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.