Ontario Teachers Pension Plan Board Sells 36,060 Shares of CVS Health Co. (NYSE:CVS)

Ontario Teachers Pension Plan Board trimmed its stake in shares of CVS Health Co. (NYSE:CVS - Free Report) by 51.1% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 34,446 shares of the pharmacy operator's stock after selling 36,060 shares during the period. Ontario Teachers Pension Plan Board's holdings in CVS Health were worth $2,720,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Norges Bank bought a new stake in shares of CVS Health during the fourth quarter worth $1,092,040,000. FMR LLC raised its holdings in CVS Health by 29.1% during the 3rd quarter. FMR LLC now owns 27,487,238 shares of the pharmacy operator's stock worth $1,919,159,000 after purchasing an additional 6,194,441 shares during the last quarter. Clearbridge Investments LLC boosted its stake in shares of CVS Health by 306.6% in the 4th quarter. Clearbridge Investments LLC now owns 3,046,216 shares of the pharmacy operator's stock valued at $240,529,000 after purchasing an additional 2,297,100 shares during the last quarter. International Assets Investment Management LLC grew its position in shares of CVS Health by 8,697.2% during the 4th quarter. International Assets Investment Management LLC now owns 1,322,129 shares of the pharmacy operator's stock worth $104,395,000 after buying an additional 1,307,100 shares during the period. Finally, Canoe Financial LP lifted its holdings in CVS Health by 95.1% in the fourth quarter. Canoe Financial LP now owns 1,762,629 shares of the pharmacy operator's stock valued at $139,177,000 after buying an additional 859,134 shares during the period. 80.66% of the stock is owned by institutional investors.

Insider Activity at CVS Health

In other CVS Health news, Director Edward J. Ludwig purchased 1,000 shares of CVS Health stock in a transaction that occurred on Thursday, May 2nd. The stock was acquired at an average price of $53.88 per share, for a total transaction of $53,880.00. Following the completion of the acquisition, the director now owns 21,630 shares of the company's stock, valued at approximately $1,165,424.40. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 0.24% of the stock is owned by company insiders.

CVS Health Stock Down 3.1 %

Shares of NYSE:CVS traded down $1.79 during midday trading on Thursday, reaching $55.65. The company had a trading volume of 18,268,702 shares, compared to its average volume of 12,012,716. The company has a quick ratio of 0.61, a current ratio of 0.81 and a debt-to-equity ratio of 0.78. The business's 50 day moving average price is $67.57 and its 200 day moving average price is $72.02. The stock has a market cap of $69.86 billion, a PE ratio of 9.78, a P/E/G ratio of 0.55 and a beta of 0.56. CVS Health Co. has a 1-year low of $53.70 and a 1-year high of $83.25.

CVS Health (NYSE:CVS - Get Free Report) last released its earnings results on Wednesday, May 1st. The pharmacy operator reported $1.31 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.69 by ($0.38). The company had revenue of $88.44 billion during the quarter, compared to analyst estimates of $89.33 billion. CVS Health had a net margin of 2.03% and a return on equity of 13.53%. CVS Health's revenue was up 3.7% compared to the same quarter last year. During the same period in the prior year, the firm posted $2.20 EPS. Research analysts forecast that CVS Health Co. will post 7.02 EPS for the current fiscal year.

CVS Health Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, May 1st. Investors of record on Monday, April 22nd were given a $0.665 dividend. This represents a $2.66 dividend on an annualized basis and a dividend yield of 4.78%. The ex-dividend date was Friday, April 19th. CVS Health's dividend payout ratio is currently 46.75%.

Analysts Set New Price Targets

Several analysts have commented on CVS shares. Truist Financial reiterated a "buy" rating and set a $66.00 target price (down previously from $90.00) on shares of CVS Health in a research report on Thursday, May 2nd. Wells Fargo & Company decreased their target price on CVS Health from $76.00 to $60.00 and set an "equal weight" rating for the company in a research report on Tuesday, May 7th. Leerink Partnrs downgraded shares of CVS Health from an "outperform" rating to a "market perform" rating in a research report on Wednesday, May 1st. UBS Group lowered shares of CVS Health from a "buy" rating to a "neutral" rating and reduced their price objective for the stock from $85.00 to $60.00 in a research note on Thursday, May 2nd. Finally, StockNews.com lowered shares of CVS Health from a "buy" rating to a "hold" rating in a report on Thursday, February 15th. Nine investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $76.75.

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.