USS Investment Management Ltd Trims Stake in CVS Health Co. (NYSE:CVS)

USS Investment Management Ltd decreased its position in shares of CVS Health Co. (NYSE:CVS - Free Report) by 6.4% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 397,958 shares of the pharmacy operator's stock after selling 27,392 shares during the quarter. USS Investment Management Ltd's holdings in CVS Health were worth $17,866,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of the company. Norges Bank acquired a new stake in CVS Health during the 4th quarter valued at approximately $839,574,000. Capital World Investors lifted its position in CVS Health by 26.6% during the fourth quarter. Capital World Investors now owns 61,039,777 shares of the pharmacy operator's stock valued at $2,739,927,000 after purchasing an additional 12,819,148 shares during the period. Davis Selected Advisers grew its position in CVS Health by 2,998.1% during the 4th quarter. Davis Selected Advisers now owns 11,385,950 shares of the pharmacy operator's stock worth $511,115,000 after purchasing an additional 11,018,438 shares during the period. Dodge & Cox raised its stake in shares of CVS Health by 11.2% during the 4th quarter. Dodge & Cox now owns 70,105,899 shares of the pharmacy operator's stock valued at $3,147,054,000 after buying an additional 7,075,209 shares during the last quarter. Finally, Pzena Investment Management LLC lifted its holdings in shares of CVS Health by 49.3% in the 4th quarter. Pzena Investment Management LLC now owns 19,610,579 shares of the pharmacy operator's stock valued at $880,319,000 after buying an additional 6,475,271 shares during the period. Hedge funds and other institutional investors own 80.66% of the company's stock.

CVS Health Price Performance

Shares of NYSE CVS traded up $0.58 during midday trading on Monday, hitting $60.80. The stock had a trading volume of 8,141,495 shares, compared to its average volume of 11,329,450. 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 Co. has a 1 year low of $43.56 and a 1 year high of $72.51. The company has a market capitalization of $76.91 billion, a PE ratio of 16.61, a P/E/G ratio of 0.98 and a beta of 0.60. The stock has a 50 day simple moving average of $66.15 and a 200-day simple moving average of $59.41.

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

CVS Health Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, May 1st. Investors of record on Tuesday, April 22nd were given a dividend of $0.665 per share. The ex-dividend date of this dividend was Tuesday, April 22nd. This represents a $2.66 dividend on an annualized basis and a yield of 4.38%. CVS Health's payout ratio is presently 63.48%.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on CVS. Piper Sandler lifted their price target on CVS Health from $72.00 to $74.00 and gave the company an "overweight" rating in a research report on Friday, March 21st. Leerink Partnrs raised shares of CVS Health from a "hold" rating to a "strong-buy" rating in a report on Wednesday, February 12th. JPMorgan Chase & Co. increased their price target on shares of CVS Health from $80.00 to $81.00 and gave the stock an "overweight" rating in a report on Tuesday, February 18th. Morgan Stanley reaffirmed an "overweight" rating on shares of CVS Health in a report on Tuesday, April 15th. Finally, Leerink Partners raised shares of CVS Health from a "market perform" rating to an "outperform" rating and increased their target price for the stock from $55.00 to $75.00 in a research note on Thursday, February 13th. Three research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, CVS Health has an average rating of "Moderate Buy" and an average target price of $74.94.

Insider Buying and Selling at CVS Health

In other CVS Health news, SVP James David Clark sold 7,513 shares of the company's stock in a transaction on Wednesday, March 5th. The stock was sold at an average price of $66.35, for a total value of $498,487.55. Following the completion of the sale, the senior vice president now directly owns 8,394 shares in the company, valued at $556,941.90. This represents a 47.23% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 1.22% of the stock is owned by insiders.

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.