Biechele Royce Advisors Cuts Stock Position in CVS Health Corp (NYSE:CVS)

Biechele Royce Advisors reduced its stake in CVS Health Corp (NYSE:CVS) by 1.1% in the 2nd quarter, HoldingsChannel reports. The firm owned 132,247 shares of the pharmacy operator’s stock after selling 1,445 shares during the quarter. CVS Health makes up 5.4% of Biechele Royce Advisors’ portfolio, making the stock its 5th biggest position. Biechele Royce Advisors’ holdings in CVS Health were worth $8,592,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in CVS. Sunbelt Securities Inc. grew its position in shares of CVS Health by 17.3% during the 4th quarter. Sunbelt Securities Inc. now owns 29,511 shares of the pharmacy operator’s stock valued at $1,990,000 after acquiring an additional 4,345 shares during the period. Nelson Van Denburg & Campbell Wealth Management Group LLC increased its position in CVS Health by 327.3% in the first quarter. Nelson Van Denburg & Campbell Wealth Management Group LLC now owns 594 shares of the pharmacy operator’s stock worth $35,000 after buying an additional 455 shares during the last quarter. IMS Capital Management bought a new stake in shares of CVS Health in the first quarter valued at $500,000. Deane Retirement Strategies Inc. bought a new stake in shares of CVS Health in the first quarter valued at $1,666,000. Finally, Triangle Securities Wealth Management grew its stake in shares of CVS Health by 3.1% during the 1st quarter. Triangle Securities Wealth Management now owns 27,309 shares of the pharmacy operator’s stock worth $1,620,000 after acquiring an additional 825 shares during the period. Hedge funds and other institutional investors own 76.04% of the company’s stock.

NYSE:CVS traded down $1.06 during midday trading on Friday, hitting $62.94. The company had a trading volume of 9,200,682 shares, compared to its average volume of 6,159,701. The company has a market capitalization of $83.65 billion, a PE ratio of 11.40, a P/E/G ratio of 1.42 and a beta of 0.76. The company has a quick ratio of 0.70, a current ratio of 0.99 and a debt-to-equity ratio of 1.29. CVS Health Corp has a 52-week low of $52.04 and a 52-week high of $77.03. The stock’s fifty day moving average price is $63.99 and its 200-day moving average price is $64.46.

CVS Health (NYSE:CVS) last posted its quarterly earnings data on Wednesday, May 6th. The pharmacy operator reported $1.91 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.63 by $0.28. The firm had revenue of $66.76 billion during the quarter, compared to analysts’ expectations of $64.11 billion. CVS Health had a return on equity of 15.17% and a net margin of 2.76%. The company’s revenue for the quarter was up 8.3% compared to the same quarter last year. During the same period in the prior year, the business earned $1.62 EPS. As a group, research analysts forecast that CVS Health Corp will post 7.12 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, August 3rd. Stockholders of record on Thursday, July 23rd will be issued a $0.50 dividend. The ex-dividend date is Wednesday, July 22nd. This represents a $2.00 dividend on an annualized basis and a dividend yield of 3.18%. CVS Health’s payout ratio is 28.25%.

In other CVS Health news, EVP Alan Lotvin bought 5,000 shares of the firm’s stock in a transaction that occurred on Monday, May 11th. The shares were bought at an average price of $63.14 per share, for a total transaction of $315,700.00. Following the transaction, the executive vice president now directly owns 15,161 shares in the company, valued at $957,265.54. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.46% of the stock is currently owned by corporate insiders.

Several equities research analysts have commented on CVS shares. SVB Leerink began coverage on shares of CVS Health in a report on Wednesday, July 1st. They set a “market perform” rating and a $72.00 price objective on the stock. JPMorgan Chase & Co. cut their price objective on shares of CVS Health from $97.00 to $94.00 and set an “overweight” rating for the company in a report on Monday, May 4th. UBS Group reduced their price objective on shares of CVS Health from $85.00 to $79.00 and set a “buy” rating for the company in a research note on Thursday, May 7th. Credit Suisse Group raised CVS Health from a “neutral” rating to an “outperform” rating and set a $75.00 price target for the company in a report on Thursday, May 14th. They noted that the move was a valuation call. Finally, Tigress Financial reiterated a “buy” rating on shares of CVS Health in a research note on Friday, April 24th. One analyst has rated the stock with a sell rating, three have assigned a hold rating, fourteen have given a buy rating and two have given a strong buy rating to the company. The company currently has an average rating of “Buy” and a consensus target price of $80.35.

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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