Zacks Investment Management cut its stake in shares of CVS Health Corporation (NYSE:CVS) by 0.9% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 111,512 shares of the pharmacy operator’s stock after selling 1,037 shares during the period. Zacks Investment Management’s holdings in CVS Health Corporation were worth $10,676,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in the stock. Bank of Montreal Can purchased a new stake in shares of CVS Health Corporation during the second quarter valued at approximately $438,948,000. Nordea Investment Management AB raised its stake in shares of CVS Health Corporation by 61.3% in the second quarter. Nordea Investment Management AB now owns 11,644,431 shares of the pharmacy operator’s stock valued at $1,114,838,000 after buying an additional 4,423,216 shares during the last quarter. Emerald Acquisition Ltd. purchased a new stake in shares of CVS Health Corporation during the second quarter valued at approximately $152,524,000. Sentry Investments Corp. raised its stake in shares of CVS Health Corporation by 62.1% in the second quarter. Sentry Investments Corp. now owns 3,532,600 shares of the pharmacy operator’s stock valued at $338,211,000 after buying an additional 1,353,000 shares during the last quarter. Finally, Honeywell International Inc. purchased a new stake in shares of CVS Health Corporation during the second quarter valued at approximately $67,918,000. Institutional investors own 80.82% of the company’s stock.

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

CVS Health Corporation (NYSE:CVS) traded down 2.83% on Friday, hitting $75.09. 9,565,784 shares of the stock were exchanged. CVS Health Corporation has a one year low of $69.30 and a one year high of $106.67. The stock has a market capitalization of $80.06 billion, a P/E ratio of 17.27 and a beta of 0.88. The company has a 50 day moving average of $85.54 and a 200 day moving average of $93.77.

CVS Health Corporation (NYSE:CVS) last issued its earnings results on Tuesday, November 8th. The pharmacy operator reported $1.64 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.57 by $0.07. CVS Health Corporation had a net margin of 2.96% and a return on equity of 17.18%. The firm earned $44.60 billion during the quarter, compared to the consensus estimate of $45.29 billion. During the same quarter in the prior year, the firm earned $1.28 earnings per share. The business’s quarterly revenue was up 15.5% on a year-over-year basis. On average, equities research analysts forecast that CVS Health Corporation will post $5.82 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which was paid on Thursday, November 3rd. Shareholders of record on Monday, October 24th were paid a $0.425 dividend. This represents a $1.70 annualized dividend and a yield of 2.26%. The ex-dividend date of this dividend was Thursday, October 20th. CVS Health Corporation’s payout ratio is presently 36.40%.

CVS has been the topic of several analyst reports. Credit Suisse Group AG restated an “outperform” rating and issued a $110.00 price target (down previously from $115.00) on shares of CVS Health Corporation in a research note on Tuesday, October 4th. Robert W. Baird lowered their price objective on shares of CVS Health Corporation from $114.00 to $104.00 and set an “outperform” rating on the stock in a research note on Monday, October 3rd. Leerink Swann reiterated an “outperform” rating and set a $105.00 price objective (down previously from $110.00) on shares of CVS Health Corporation in a research note on Sunday, October 2nd. Vetr upgraded shares of CVS Health Corporation from a “buy” rating to a “strong-buy” rating and set a $98.36 price objective on the stock in a research note on Monday, October 24th. Finally, Mizuho reiterated a “buy” rating and set a $111.00 price objective on shares of CVS Health Corporation in a research note on Friday, September 30th. Five investment analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the company. CVS Health Corporation has a consensus rating of “Buy” and a consensus price target of $106.24.

CVS Health Corporation Company Profile

CVS Health Corporation, together with its subsidiaries (CVS Health), is a pharmacy company. The Company operates through three business segments: Pharmacy Services, Retail/LTC and Corporate. The Company offers a range of products and services, such as advising patients on their medications at its CVS Pharmacy locations, introducing programs to help control costs for its clients at CVS Caremark, how care is delivered to its patients with conditions through CVS Specialty, pharmacy care for the senior community through Omnicare.

5 Day Chart for NYSE:CVS

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