Donoghue Forlines LLC Trims Stock Holdings in CVS Health Corporation (NYSE:CVS)

Key Points

• Donoghue Forlines LLC has reduced its stake in CVS Health Corporation by 28.0%, selling 8,744 shares and now holding a total of 22,443 shares valued at approximately $1,521,000.
• CVS Health recently reported an earnings per share of $1.81 for the quarter, exceeding estimates of $1.46, with a revenue of $98.92 billion, marking an 8.4% increase compared to the previous year.
• Analysts have issued varied ratings on CVS Health, with the average target price now at $75.11 and a consensus rating of "Moderate Buy" based on 18 buy ratings and 3 hold ratings.

Donoghue Forlines LLC trimmed its position in shares of CVS Health Corporation (NYSE:CVS - Free Report) by 28.0% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 22,443 shares of the pharmacy operator's stock after selling 8,744 shares during the quarter. Donoghue Forlines LLC's holdings in CVS Health were worth $1,521,000 at the end of the most recent reporting period.

Several other institutional investors have also bought and sold shares of CVS. McIlrath & Eck LLC grew its holdings 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. Costello Asset Management INC grew its stake in shares of CVS Health by 281.3% during the 1st quarter. Costello Asset Management INC now owns 572 shares of the pharmacy operator's stock worth $39,000 after acquiring an additional 422 shares during the period. Park Square Financial Group LLC bought a new position in shares of CVS Health during the 4th quarter worth $43,000. GW&K Investment Management LLC grew its stake in shares of CVS Health by 39.4% during the 1st quarter. GW&K Investment Management LLC now owns 637 shares of the pharmacy operator's stock worth $43,000 after acquiring an additional 180 shares during the period. Finally, Strategic Investment Solutions Inc. IL grew its stake in shares of CVS Health by 77.2% during the 4th quarter. Strategic Investment Solutions Inc. IL now owns 1,024 shares of the pharmacy operator's stock worth $46,000 after acquiring an additional 446 shares during the period. Institutional investors own 80.66% of the company's stock.

Analysts Set New Price Targets

Several research firms have recently weighed in on CVS. Royal Bank Of Canada increased their price target on CVS Health from $74.00 to $81.00 and gave the stock an "outperform" rating in a research note on Monday, May 5th. Barclays increased their price target on CVS Health from $79.00 to $80.00 and gave the stock an "overweight" rating in a research note on Friday, August 1st. Morgan Stanley increased their price target on CVS Health from $80.00 to $82.00 and gave the stock an "overweight" rating in a research note on Friday, August 1st. Jefferies Financial Group increased their price objective on CVS Health from $74.00 to $80.00 and gave the stock a "buy" rating in a report on Monday, June 30th. Finally, Bernstein Bank dropped their price objective on CVS Health from $78.00 to $72.00 and set a "market perform" rating on the stock in a report on Wednesday, July 16th. Three research analysts have rated the stock with a hold rating, eighteen have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, CVS Health presently has an average rating of "Moderate Buy" and an average price target of $75.11.

Insider Buying and Selling at CVS Health

In other CVS Health news, Director Guy P. Sansone acquired 1,570 shares of the business's stock in a transaction dated Thursday, June 5th. The shares were purchased at an average cost of $63.70 per share, for a total transaction of $100,009.00. Following the transaction, the director owned 12,007 shares in the company, valued at $764,845.90. This represents a 15.04% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 1.22% of the company's stock.

CVS Health Trading Down 1.0%

CVS traded down $0.64 on Monday, hitting $64.91. 5,554,636 shares of the company were exchanged, compared to its average volume of 9,220,690. The firm has a fifty day simple moving average of $64.68 and a two-hundred day simple moving average of $64.38. 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 Corporation has a 12 month low of $43.56 and a 12 month high of $72.51. The stock has a market capitalization of $82.32 billion, a PE ratio of 18.13, a price-to-earnings-growth ratio of 0.72 and a beta of 0.58.

CVS Health (NYSE:CVS - Get Free Report) last posted its quarterly earnings results on Thursday, July 31st. The pharmacy operator reported $1.81 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.46 by $0.35. CVS Health had a return on equity of 10.51% and a net margin of 1.17%. The business had revenue of $98.92 billion for the quarter, compared to analyst estimates of $94.87 billion. During the same period last year, the company earned $1.83 EPS. CVS Health's revenue for the quarter was up 8.4% compared to the same quarter last year. Sell-side analysts expect that CVS Health Corporation will post 5.89 earnings per share for the current year.

CVS Health Announces Dividend

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

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.