NorthCrest Asset Manangement LLC Decreases Stake in CVS Health Co. (NYSE:CVS)

NorthCrest Asset Manangement LLC lessened its stake in CVS Health Co. (NYSE:CVS - Free Report) by 7.9% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 92,901 shares of the pharmacy operator's stock after selling 8,012 shares during the period. NorthCrest Asset Manangement LLC's holdings in CVS Health were worth $4,170,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Stonebridge Financial Group LLC bought a new position in CVS Health during the 4th quarter valued at approximately $28,000. Hopwood Financial Services Inc. purchased a new position in shares of CVS Health during the 4th quarter worth approximately $29,000. McIlrath & Eck LLC grew its holdings in shares of CVS Health by 32.6% during the 4th quarter. McIlrath & Eck LLC now owns 707 shares of the pharmacy operator's stock worth $32,000 after acquiring an additional 174 shares during the period. Financial Perspectives Inc grew its holdings in shares of CVS Health by 137.5% during the 4th quarter. Financial Perspectives Inc now owns 805 shares of the pharmacy operator's stock worth $36,000 after acquiring an additional 466 shares during the period. Finally, Compass Planning Associates Inc purchased a new position in shares of CVS Health during the 4th quarter worth approximately $37,000. Institutional investors own 80.66% of the company's stock.

CVS Health Stock Performance

Shares of CVS stock traded up $1.21 on Friday, reaching $63.99. The stock had a trading volume of 13,306,917 shares, compared to its average volume of 11,257,989. The stock has a market cap of $80.95 billion, a P/E ratio of 17.48, a price-to-earnings-growth ratio of 0.98 and a beta of 0.60. CVS Health Co. has a 1 year low of $43.56 and a 1 year high of $72.51. The company has a debt-to-equity ratio of 0.80, a quick ratio of 0.60 and a current ratio of 0.81. The company has a 50 day simple moving average of $65.62 and a 200 day simple moving average of $59.60.

CVS Health (NYSE:CVS - Get Free Report) last released its quarterly earnings results on Thursday, May 1st. The pharmacy operator reported $2.25 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.62 by $0.63. The firm had revenue of $94.59 billion for the quarter, compared to the consensus estimate of $93.07 billion. CVS Health had a return on equity of 9.11% and a net margin of 1.24%. The company's revenue for the quarter was up 7.0% on a year-over-year basis. During the same period last year, the business posted $1.31 EPS. Equities research analysts expect that CVS Health Co. will post 5.89 EPS for the current year.

CVS Health Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, May 1st. Stockholders of record on Tuesday, April 22nd were paid a $0.665 dividend. The ex-dividend date was Tuesday, April 22nd. This represents a $2.66 dividend on an annualized basis and a dividend yield of 4.16%. CVS Health's dividend payout ratio (DPR) is currently 63.48%.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on the company. Robert W. Baird upped their target price on CVS Health from $51.00 to $71.00 and gave the stock a "neutral" rating in a report on Tuesday, April 15th. Piper Sandler raised their price objective on CVS Health from $72.00 to $74.00 and gave the company an "overweight" rating in a research report on Friday, March 21st. Wall Street Zen raised CVS Health from a "hold" rating to a "buy" rating in a research report on Friday, May 9th. Leerink Partners raised CVS Health from a "market perform" rating to an "outperform" rating and raised their price objective for the company from $55.00 to $75.00 in a research report on Thursday, February 13th. Finally, Cowen reaffirmed a "buy" rating on shares of CVS Health in a research report on Monday, May 5th. Three investment analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, CVS Health presently has an average rating of "Moderate Buy" and a consensus target price of $74.94.

Insider Buying and Selling

In related news, SVP James David Clark sold 7,513 shares of the business's stock in a transaction dated Wednesday, March 5th. The stock was sold at an average price of $66.35, for a total value of $498,487.55. Following the sale, the senior vice president now directly owns 8,394 shares in the company, valued at approximately $556,941.90. The trade was a 47.23% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 1.22% of the stock is owned by insiders.

CVS Health 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.