Frazier Financial Advisors LLC Decreases Position in CVS Health Co. (NYSE:CVS)

Frazier Financial Advisors LLC trimmed its position in shares of CVS Health Co. (NYSE:CVS) by 16.9% during the third quarter, Holdings Channel reports. The firm owned 1,339 shares of the pharmacy operator’s stock after selling 272 shares during the quarter. Frazier Financial Advisors LLC’s holdings in CVS Health were worth $84,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Assetmark Inc. boosted its position in CVS Health by 9.7% during the third quarter. Assetmark Inc. now owns 410,001 shares of the pharmacy operator’s stock worth $25,781,000 after purchasing an additional 36,132 shares in the last quarter. Cullinan Associates Inc. raised its holdings in shares of CVS Health by 43.8% in the third quarter. Cullinan Associates Inc. now owns 122,682 shares of the pharmacy operator’s stock worth $7,125,000 after acquiring an additional 37,395 shares during the last quarter. Deerfield Management Company L.P. Series C acquired a new position in shares of CVS Health in the second quarter worth $57,584,000. Oppenheimer Asset Management Inc. boosted its position in shares of CVS Health by 5.7% in the third quarter. Oppenheimer Asset Management Inc. now owns 448,323 shares of the pharmacy operator’s stock worth $28,191,000 after buying an additional 24,285 shares during the period. Finally, CX Institutional boosted its position in shares of CVS Health by 698.0% in the third quarter. CX Institutional now owns 74,609 shares of the pharmacy operator’s stock worth $4,691,000 after buying an additional 65,259 shares during the period. 80.66% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on CVS. Truist Financial increased their price target on CVS Health from $66.00 to $76.00 and gave the company a “buy” rating in a report on Friday, October 11th. TD Cowen raised CVS Health from a “hold” rating to a “buy” rating and increased their price target for the company from $59.00 to $85.00 in a report on Friday, October 4th. StockNews.com downgraded CVS Health from a “hold” rating to a “sell” rating in a report on Thursday. Royal Bank of Canada dropped their price target on CVS Health from $68.00 to $58.00 and set an “outperform” rating on the stock in a research report on Friday. Finally, Deutsche Bank Aktiengesellschaft dropped their price target on CVS Health from $64.00 to $63.00 and set a “hold” rating on the stock in a research report on Friday, August 9th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and twelve have issued a buy rating to the company’s stock. According to MarketBeat.com, CVS Health presently has a consensus rating of “Moderate Buy” and an average price target of $72.44.

CVS Health Stock Down 3.4 %

Shares of CVS stock opened at $53.19 on Friday. The company has a debt-to-equity ratio of 0.80, a quick ratio of 0.59 and a current ratio of 0.80. The firm’s 50-day moving average is $59.23 and its 200-day moving average is $58.66. The stock has a market cap of $66.93 billion, a price-to-earnings ratio of 13.50, a PEG ratio of 0.92 and a beta of 0.55. CVS Health Co. has a 52-week low of $52.71 and a 52-week high of $83.25.

CVS Health (NYSE:CVS) last issued its earnings results on Wednesday, November 6th. The pharmacy operator reported $1.09 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.08 by $0.01. The company had revenue of $95.43 billion for the quarter, compared to analysts’ expectations of $92.72 billion. CVS Health had a net margin of 1.36% and a return on equity of 10.72%. CVS Health’s quarterly revenue was up 6.3% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.21 EPS. Sell-side analysts predict that CVS Health Co. will post 5.48 EPS for the current year.

CVS Health Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, November 1st. Shareholders of record on Monday, October 21st were issued a $0.665 dividend. The ex-dividend date was Monday, October 21st. This represents a $2.66 annualized dividend and a yield of 5.00%. CVS Health’s dividend payout ratio is currently 67.51%.

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.