Two Sigma Advisers LP Decreases Stake in CVS Health Co. (NYSE:CVS)

Two Sigma Advisers LP reduced its stake in CVS Health Co. (NYSE:CVS - Free Report) by 60.2% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 836,100 shares of the pharmacy operator's stock after selling 1,264,600 shares during the quarter. Two Sigma Advisers LP owned about 0.07% of CVS Health worth $37,533,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Whitebox Advisors LLC acquired a new position in CVS Health in the 4th quarter worth approximately $249,000. Hall Laurie J Trustee increased its holdings in CVS Health by 25,484.4% in the 4th quarter. Hall Laurie J Trustee now owns 11,513 shares of the pharmacy operator's stock worth $517,000 after buying an additional 11,468 shares during the period. B&D White Capital Company LLC acquired a new position in CVS Health in the 4th quarter worth approximately $417,000. Fairfax Financial Holdings Ltd. Can acquired a new position in CVS Health in the 4th quarter worth approximately $121,742,000. Finally, Lazard Asset Management LLC increased its holdings in CVS Health by 7.3% in the 4th quarter. Lazard Asset Management LLC now owns 4,290,953 shares of the pharmacy operator's stock worth $192,617,000 after buying an additional 293,406 shares during the period. 80.66% of the stock is owned by hedge funds and other institutional investors.

CVS Health Trading Up 0.3%

Shares of CVS stock opened at $62.71 on Tuesday. CVS Health Co. has a fifty-two week low of $43.56 and a fifty-two week high of $72.51. The stock has a market cap of $79.33 billion, a P/E ratio of 17.13, a P/E/G ratio of 0.98 and a beta of 0.60. The business has a fifty day simple moving average of $66.52 and a 200-day simple moving average of $59.29. The company has a quick ratio of 0.60, a current ratio of 0.81 and a debt-to-equity ratio of 0.80.

CVS Health (NYSE:CVS - Get Free Report) last posted its quarterly earnings data on Thursday, May 1st. The pharmacy operator reported $2.25 EPS for the quarter, beating analysts' consensus estimates of $1.62 by $0.63. The business had revenue of $94.59 billion for the quarter, compared to analyst estimates of $93.07 billion. CVS Health had a return on equity of 9.11% and a net margin of 1.24%. The business's revenue for the quarter was up 7.0% compared to the same quarter last year. During the same quarter last year, the company earned $1.31 earnings per share. On average, analysts forecast that CVS Health Co. will post 5.89 earnings per share for the current fiscal year.

CVS Health Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, May 1st. Investors of record on Tuesday, April 22nd were paid a dividend of $0.665 per share. This represents a $2.66 dividend on an annualized basis and a dividend yield of 4.24%. The ex-dividend date was Tuesday, April 22nd. CVS Health's payout ratio is currently 63.48%.

Insiders Place Their Bets

In other CVS Health news, SVP James David Clark sold 7,513 shares of the firm'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 of the company's stock, valued at approximately $556,941.90. This trade represents a 47.23% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 1.22% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of equities research analysts have recently commented on the stock. Wells Fargo & Company reaffirmed an "overweight" rating and set a $84.00 price objective (up previously from $76.00) on shares of CVS Health in a research note on Tuesday, May 6th. Morgan Stanley reaffirmed an "overweight" rating on shares of CVS Health in a report on Tuesday, April 15th. Mizuho lifted their target price on shares of CVS Health from $70.00 to $76.00 and gave the company an "outperform" rating in a report on Wednesday, April 9th. Cantor Fitzgerald raised shares of CVS Health from a "neutral" rating to an "overweight" rating in a report on Wednesday, February 12th. Finally, Evercore ISI lifted their target price on shares of CVS Health from $60.00 to $65.00 and gave the company an "outperform" rating in a report on Monday, January 27th. Three equities research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $74.94.

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.

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