Nexus Investment Management ULC Trims Position in CVS Health Co. (NYSE:CVS)

Nexus Investment Management ULC decreased its position in shares of CVS Health Co. (NYSE:CVS) by 0.5% during the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 395,292 shares of the pharmacy operator’s stock after selling 1,985 shares during the quarter. CVS Health makes up 1.8% of Nexus Investment Management ULC’s holdings, making the stock its 28th largest holding. Nexus Investment Management ULC’s holdings in CVS Health were worth $17,745,000 at the end of the most recent quarter.

Other institutional investors have also bought and sold shares of the company. MidAtlantic Capital Management Inc. bought a new position in shares of CVS Health in the third quarter worth about $25,000. Ridgewood Investments LLC boosted its stake in CVS Health by 255.7% in the 4th quarter. Ridgewood Investments LLC now owns 626 shares of the pharmacy operator’s stock worth $28,000 after purchasing an additional 450 shares during the period. Livelsberger Financial Advisory purchased a new stake in CVS Health during the 3rd quarter valued at approximately $31,000. Legacy Investment Solutions LLC bought a new stake in shares of CVS Health during the third quarter valued at approximately $31,000. Finally, Reston Wealth Management LLC bought a new position in shares of CVS Health during the third quarter worth $32,000. Hedge funds and other institutional investors own 80.66% of the company’s stock.

CVS Health Trading Up 1.5 %

Shares of NYSE CVS opened at $52.72 on Friday. CVS Health Co. has a fifty-two week low of $43.56 and a fifty-two week high of $80.75. The company has a debt-to-equity ratio of 0.80, a quick ratio of 0.59 and a current ratio of 0.80. The company has a market cap of $66.35 billion, a price-to-earnings ratio of 13.38, a PEG ratio of 0.72 and a beta of 0.59. The business’s 50 day moving average price is $51.34 and its 200-day moving average price is $56.34.

CVS Health (NYSE:CVS) last released its earnings results on Wednesday, November 6th. The pharmacy operator reported $1.09 earnings per share for the quarter, topping the consensus estimate of $1.08 by $0.01. The business had revenue of $95.43 billion during the quarter, compared to the consensus estimate of $92.72 billion. CVS Health had a return on equity of 10.72% and a net margin of 1.36%. The business’s revenue for the quarter was up 6.3% compared to the same quarter last year. During the same period last year, the company earned $2.21 earnings per share. On average, sell-side analysts expect that CVS Health Co. will post 5.22 earnings per share for the current year.

CVS Health Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, February 3rd. Stockholders of record on Thursday, January 23rd will be given a dividend of $0.665 per share. This represents a $2.66 dividend on an annualized basis and a dividend yield of 5.05%. The ex-dividend date of this dividend is Thursday, January 23rd. CVS Health’s dividend payout ratio (DPR) is presently 67.51%.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on the stock. Evercore ISI lifted their price target on shares of CVS Health from $62.00 to $75.00 and gave the company an “outperform” rating in a report on Tuesday, October 8th. Mizuho decreased their target price on CVS Health from $73.00 to $66.00 and set an “outperform” rating on the stock in a research report on Thursday, October 24th. Truist Financial reduced their price objective on CVS Health from $67.00 to $60.00 and set a “buy” rating on the stock in a research note on Monday, January 6th. TD Cowen increased their target price on CVS Health from $73.00 to $80.00 and gave the company a “buy” rating in a research report on Monday, November 25th. Finally, Royal Bank of Canada reduced their price target on shares of CVS Health from $68.00 to $58.00 and set an “outperform” rating on the stock in a research report on Friday, November 15th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and thirteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, CVS Health currently has a consensus rating of “Moderate Buy” and an average price target of $68.71.

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.