CVS Health Corporation (NYSE:CVS) Shares Sold by Triglav Skladi D.O.O.

Key Points

• Triglav Skladi D.O.O. reduced its stake in CVS Health by 8.2%, now holding 161,565 shares worth approximately $10.95 million.
• Analysts have generally positive views on CVS Health, with multiple brokerages setting new price targets, including an increase from $79.00 to $80.00 by Barclays.
• CVS Health's latest earnings report showed $1.81 EPS for the quarter, exceeding expectations, with revenue reaching $98.92 billion, reflecting an 8.4% year-over-year increase.

Triglav Skladi D.O.O. lowered its stake in shares of CVS Health Corporation (NYSE:CVS - Free Report) by 8.2% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 161,565 shares of the pharmacy operator's stock after selling 14,515 shares during the quarter. CVS Health makes up about 0.9% of Triglav Skladi D.O.O.'s holdings, making the stock its 27th biggest position. Triglav Skladi D.O.O.'s holdings in CVS Health were worth $10,946,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also modified their holdings of CVS. Essex Financial Services Inc. raised its position in CVS Health by 0.8% during the first quarter. Essex Financial Services Inc. now owns 20,705 shares of the pharmacy operator's stock valued at $1,403,000 after acquiring an additional 166 shares in the last quarter. Hemington Wealth Management boosted its stake in CVS Health by 33.7% during the first quarter. Hemington Wealth Management now owns 682 shares of the pharmacy operator's stock worth $46,000 after buying an additional 172 shares in the last quarter. McIlrath & Eck LLC boosted its stake in CVS Health by 32.6% during the fourth quarter. McIlrath & Eck LLC now owns 707 shares of the pharmacy operator's stock worth $32,000 after buying an additional 174 shares in the last quarter. Sumitomo Life Insurance Co. boosted its stake in shares of CVS Health by 1.0% in the 1st quarter. Sumitomo Life Insurance Co. now owns 17,114 shares of the pharmacy operator's stock valued at $1,159,000 after purchasing an additional 174 shares in the last quarter. Finally, Koshinski Asset Management Inc. boosted its stake in shares of CVS Health by 3.7% in the 1st quarter. Koshinski Asset Management Inc. now owns 4,930 shares of the pharmacy operator's stock valued at $334,000 after purchasing an additional 178 shares in the last quarter. 80.66% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several brokerages have weighed in on CVS. Barclays boosted their price objective on CVS Health from $79.00 to $80.00 and gave the stock an "overweight" rating in a report on Friday, August 1st. Cowen reissued a "buy" rating on shares of CVS Health in a report on Monday, August 4th. Wall Street Zen raised CVS Health from a "hold" rating to a "buy" rating in a report on Friday, May 9th. Morgan Stanley boosted their target price on CVS Health from $80.00 to $82.00 and gave the stock an "overweight" rating in a research report on Friday, August 1st. Finally, Truist Financial boosted their target price on CVS Health from $82.00 to $84.00 and gave the stock a "buy" rating in a research report on Monday, May 12th. Three analysts have rated the stock with a hold rating, eighteen have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $75.11.

CVS Health Price Performance

CVS Health stock opened at $65.50 on Wednesday. The stock has a market capitalization of $83.08 billion, a price-to-earnings ratio of 18.30, a PEG ratio of 0.72 and a beta of 0.58. CVS Health Corporation has a 52-week low of $43.56 and a 52-week high of $72.51. The stock's 50 day moving average price is $64.74 and its two-hundred day moving average price is $64.46. The company has a debt-to-equity ratio of 0.74, a quick ratio of 0.62 and a current ratio of 0.80.

CVS Health (NYSE:CVS - Get Free Report) last released its quarterly earnings data on Thursday, July 31st. The pharmacy operator reported $1.81 EPS for the quarter, beating the consensus estimate of $1.46 by $0.35. The firm had revenue of $98.92 billion during the quarter, compared to the consensus estimate of $94.87 billion. CVS Health had a return on equity of 10.51% and a net margin of 1.17%. The company's quarterly revenue was up 8.4% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.83 earnings per share. On average, equities analysts predict that CVS Health Corporation will post 5.89 earnings per share for the current year.

CVS Health Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 1st. Shareholders of record on Tuesday, July 22nd were paid a dividend of $0.665 per share. The ex-dividend date was Tuesday, July 22nd. This represents a $2.66 annualized dividend and a yield of 4.1%. CVS Health's dividend payout ratio (DPR) is 74.30%.

Insiders Place Their Bets

In related news, Director Guy P. Sansone acquired 1,570 shares of the company's stock in a transaction on Thursday, June 5th. The shares were acquired at an average cost of $63.70 per share, for a total transaction of $100,009.00. Following the purchase, the director owned 12,007 shares in the company, valued at approximately $764,845.90. The trade was a 15.04% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. Company insiders own 1.22% of the company's stock.

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.

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