Waterloo Capital L.P. Sells 588 Shares of CVS Health Co. (NYSE:CVS)

Waterloo Capital L.P. decreased its stake in CVS Health Co. (NYSE:CVS) by 1.4% during the second quarter, Holdings Channel.com reports. The institutional investor owned 41,568 shares of the pharmacy operator’s stock after selling 588 shares during the quarter. Waterloo Capital L.P.’s holdings in CVS Health were worth $2,455,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently made changes to their positions in the stock. Ables Iannone Moore & Associates Inc. bought a new position in CVS Health in the fourth quarter valued at $32,000. Creekmur Asset Management LLC purchased a new position in shares of CVS Health in the 4th quarter worth about $34,000. Steph & Co. increased its position in shares of CVS Health by 192.0% during the 1st quarter. Steph & Co. now owns 438 shares of the pharmacy operator’s stock valued at $35,000 after purchasing an additional 288 shares during the last quarter. Kapitalo Investimentos Ltda purchased a new position in shares of CVS Health during the 4th quarter valued at about $36,000. Finally, Scarborough Advisors LLC bought a new stake in CVS Health in the 4th quarter worth approximately $37,000. Hedge funds and other institutional investors own 80.66% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have commented on the stock. Wells Fargo & Company lifted their price target on shares of CVS Health from $60.00 to $61.00 and gave the stock an “equal weight” rating in a research note on Monday, August 12th. Deutsche Bank Aktiengesellschaft reduced their target price on shares of CVS Health from $64.00 to $63.00 and set a “hold” rating on the stock in a report on Friday, August 9th. JPMorgan Chase & Co. lowered their price target on shares of CVS Health from $101.00 to $86.00 and set an “overweight” rating for the company in a research note on Thursday, May 30th. Barclays reduced their price objective on CVS Health from $65.00 to $63.00 and set an “equal weight” rating on the stock in a research note on Thursday, August 8th. Finally, Royal Bank of Canada restated an “outperform” rating and set a $68.00 target price on shares of CVS Health in a report on Wednesday, September 4th. Eleven equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. Based on data from MarketBeat, CVS Health currently has an average rating of “Moderate Buy” and an average price target of $72.10.

CVS Health Stock Performance

CVS Health stock opened at $57.85 on Wednesday. The stock has a market cap of $72.62 billion, a price-to-earnings ratio of 10.17, a PEG ratio of 0.79 and a beta of 0.53. The stock’s 50 day simple moving average is $58.31 and its two-hundred day simple moving average is $62.77. CVS Health Co. has a fifty-two week low of $52.77 and a fifty-two week high of $83.25. The company has a debt-to-equity ratio of 0.83, a quick ratio of 0.66 and a current ratio of 0.86.

CVS Health (NYSE:CVS) last issued its earnings results on Wednesday, August 7th. The pharmacy operator reported $1.83 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.73 by $0.10. The business had revenue of $91.23 billion during the quarter, compared to analysts’ expectations of $91.41 billion. CVS Health had a net margin of 1.98% and a return on equity of 12.72%. The business’s revenue for the quarter was up 2.6% compared to the same quarter last year. During the same period in the previous year, the company earned $2.21 earnings per share. As a group, analysts expect that CVS Health Co. will post 6.51 earnings per share for the current fiscal year.

CVS Health Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, August 1st. Shareholders of record on Monday, July 22nd were paid a dividend of $0.665 per share. The ex-dividend date of this dividend was Monday, July 22nd. This represents a $2.66 dividend on an annualized basis and a yield of 4.60%. CVS Health’s dividend payout ratio is presently 46.75%.

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.