Twin Capital Management Inc. Lowers Holdings in CVS Health Corp (NYSE:CVS)

Twin Capital Management Inc. trimmed its holdings in CVS Health Corp (NYSE:CVS) by 31.1% in the 2nd quarter, HoldingsChannel reports. The fund owned 125,782 shares of the pharmacy operator’s stock after selling 56,683 shares during the quarter. Twin Capital Management Inc.’s holdings in CVS Health were worth $6,854,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of CVS. Bay Harbor Wealth Management LLC boosted its position in shares of CVS Health by 1,871.4% during the first quarter. Bay Harbor Wealth Management LLC now owns 552 shares of the pharmacy operator’s stock worth $30,000 after buying an additional 524 shares during the period. Centaurus Financial Inc. raised its stake in shares of CVS Health by 570.8% in the first quarter. Centaurus Financial Inc. now owns 1,630 shares of the pharmacy operator’s stock valued at $30,000 after acquiring an additional 1,387 shares in the last quarter. Manchester Financial Inc. acquired a new stake in shares of CVS Health in the second quarter valued at $31,000. Hudock Capital Group LLC raised its stake in shares of CVS Health by 54.0% in the second quarter. Hudock Capital Group LLC now owns 576 shares of the pharmacy operator’s stock valued at $31,000 after acquiring an additional 202 shares in the last quarter. Finally, Executive Wealth Management LLC raised its stake in shares of CVS Health by 62.4% in the second quarter. Executive Wealth Management LLC now owns 565 shares of the pharmacy operator’s stock valued at $31,000 after acquiring an additional 217 shares in the last quarter. Institutional investors own 77.18% of the company’s stock.

A number of research firms have weighed in on CVS. BMO Capital Markets set a $63.00 price target on CVS Health and gave the company a “hold” rating in a research note on Friday, May 3rd. Citigroup lifted their target price on CVS Health from $68.00 to $72.00 and gave the stock a “buy” rating in a research report on Thursday, August 8th. ValuEngine cut CVS Health from a “sell” rating to a “strong sell” rating in a research report on Tuesday, July 2nd. Guggenheim assumed coverage on CVS Health in a research report on Thursday, April 18th. They set a “buy” rating and a $75.00 target price on the stock. Finally, Credit Suisse Group cut CVS Health from an “outperform” rating to a “neutral” rating and cut their target price for the stock from $73.00 to $61.00 in a research report on Monday, April 29th. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating, sixteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average target price of $75.14.

CVS traded down $0.15 during trading on Thursday, reaching $58.41. The company’s stock had a trading volume of 4,900,461 shares, compared to its average volume of 8,160,261. CVS Health Corp has a 52-week low of $51.72 and a 52-week high of $82.15. The firm has a fifty day moving average of $56.23. The company has a market capitalization of $76.38 billion, a P/E ratio of 8.25, a price-to-earnings-growth ratio of 1.29 and a beta of 0.90. The company has a debt-to-equity ratio of 1.39, a current ratio of 0.95 and a quick ratio of 0.64.

CVS Health (NYSE:CVS) last announced its quarterly earnings data on Wednesday, August 7th. The pharmacy operator reported $1.89 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.70 by $0.19. CVS Health had a return on equity of 16.15% and a net margin of 1.91%. The company had revenue of $63.43 billion for the quarter, compared to analyst estimates of $62.66 billion. During the same quarter in the previous year, the company earned $1.69 EPS. The firm’s revenue for the quarter was up 35.2% compared to the same quarter last year. As a group, research analysts anticipate that CVS Health Corp will post 6.96 EPS for the current year.

The company also recently declared a quarterly dividend, which was paid on Friday, August 2nd. Stockholders of record on Thursday, July 25th were paid a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a dividend yield of 3.42%. The ex-dividend date was Wednesday, July 24th. CVS Health’s dividend payout ratio (DPR) is 28.25%.

CVS Health Company Profile

CVS Health Corporation provides health services and plans in the United States. Its Pharmacy Services segment offers pharmacy benefit management solutions, such as plan design and administration, formulary management, retail pharmacy network management, mail order pharmacy, specialty pharmacy and infusion, Medicare Part D, clinical, disease management, and medical spend management services.

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

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