Adirondack Trust Co. Trims Stake in CVS Health Corp (CVS)

Adirondack Trust Co. trimmed its stake in shares of CVS Health Corp (NYSE:CVS) by 10.3% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 8,888 shares of the pharmacy operator’s stock after selling 1,020 shares during the period. Adirondack Trust Co.’s holdings in CVS Health were worth $700,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in CVS. Camarda Financial Advisors LLC acquired a new position in CVS Health in the second quarter valued at approximately $102,000. Kiley Juergens Wealth Management LLC acquired a new position in CVS Health in the second quarter valued at approximately $103,000. Legacy Advisors LLC lifted its holdings in CVS Health by 7,100.0% in the second quarter. Legacy Advisors LLC now owns 1,800 shares of the pharmacy operator’s stock valued at $116,000 after buying an additional 1,775 shares during the period. Squar Milner Financial Services LLC acquired a new position in CVS Health in the second quarter valued at approximately $122,000. Finally, Canton Hathaway LLC acquired a new position in CVS Health in the third quarter valued at approximately $126,000. Institutional investors own 82.56% of the company’s stock.

CVS opened at $72.84 on Tuesday. The company has a current ratio of 2.34, a quick ratio of 1.87 and a debt-to-equity ratio of 1.73. The firm has a market capitalization of $75.52 billion, a price-to-earnings ratio of 12.35, a PEG ratio of 0.99 and a beta of 1.02. CVS Health Corp has a twelve month low of $60.14 and a twelve month high of $83.88.

CVS Health (NYSE:CVS) last issued its quarterly earnings data on Wednesday, August 8th. The pharmacy operator reported $1.69 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.61 by $0.08. CVS Health had a net margin of 1.61% and a return on equity of 18.25%. The company had revenue of $46.71 billion during the quarter, compared to the consensus estimate of $46.34 billion. During the same quarter in the prior year, the firm earned $1.33 earnings per share. The firm’s revenue was up 2.2% compared to the same quarter last year. Research analysts predict that CVS Health Corp will post 7.05 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, November 1st. Stockholders of record on Wednesday, October 24th will be given a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a dividend yield of 2.75%. The ex-dividend date is Tuesday, October 23rd. CVS Health’s dividend payout ratio is 33.90%.

In other news, EVP Kevin Hourican sold 8,564 shares of the stock in a transaction on Monday, August 27th. The shares were sold at an average price of $75.00, for a total transaction of $642,300.00. Following the completion of the sale, the executive vice president now owns 12,135 shares of the company’s stock, valued at $910,125. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Eva C. Boratto sold 13,311 shares of the stock in a transaction on Monday, September 17th. The stock was sold at an average price of $77.16, for a total transaction of $1,027,076.76. Following the sale, the executive vice president now directly owns 55,162 shares of the company’s stock, valued at approximately $4,256,299.92. The disclosure for this sale can be found here. Insiders have sold 43,409 shares of company stock valued at $3,392,097 in the last three months. 0.53% of the stock is owned by insiders.

Several equities analysts recently weighed in on the stock. ValuEngine upgraded shares of CVS Health from a “sell” rating to a “hold” rating in a report on Thursday, October 11th. Mizuho reiterated a “buy” rating on shares of CVS Health in a report on Saturday, June 30th. Royal Bank of Canada cut their target price on shares of CVS Health to $84.00 and set an “outperform” rating on the stock in a report on Friday, June 29th. Morgan Stanley cut their target price on shares of CVS Health from $88.00 to $80.00 and set an “overweight” rating on the stock in a report on Tuesday, July 3rd. Finally, Leerink Swann set a $80.00 target price on shares of CVS Health and gave the stock an “outperform” rating in a report on Thursday, August 9th. One analyst has rated the stock with a sell rating, five have assigned a hold rating, ten have given a buy rating and two have assigned a strong buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus price target of $86.31.

CVS Health Company Profile

CVS Health Corporation, together with its subsidiaries, provides integrated pharmacy health care services. It operates through Pharmacy Services and Retail/LTC segments. The Pharmacy Services segment offers pharmacy benefit management solutions, such as plan design and administration, formulary management, Medicare Part D services, mail order, specialty pharmacy and infusion services, retail pharmacy network management services, prescription management systems, clinical services, disease management programs, and medical pharmacy management services.

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Institutional Ownership by Quarter for CVS Health (NYSE:CVS)

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