CVS Health (CVS) Position Cut by Systematic Financial Management LP

Systematic Financial Management LP reduced its position in shares of CVS Health (NYSE:CVS) by 5.7% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 24,559 shares of the pharmacy operator’s stock after selling 1,496 shares during the period. Systematic Financial Management LP’s holdings in CVS Health were worth $1,781,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in the business. Clifford Swan Investment Counsel LLC boosted its stake in CVS Health by 69.4% during the fourth quarter. Clifford Swan Investment Counsel LLC now owns 9,377 shares of the pharmacy operator’s stock worth $680,000 after buying an additional 3,842 shares during the period. Itau Unibanco Holding S.A. purchased a new position in shares of CVS Health in the fourth quarter valued at approximately $225,000. Virtu Financial LLC boosted its stake in shares of CVS Health by 92.6% in the fourth quarter. Virtu Financial LLC now owns 5,556 shares of the pharmacy operator’s stock valued at $403,000 after purchasing an additional 2,672 shares during the period. Tower Research Capital LLC TRC purchased a new position in shares of CVS Health in the fourth quarter valued at approximately $560,000. Finally, UBS Asset Management Americas Inc. boosted its stake in shares of CVS Health by 5.7% in the fourth quarter. UBS Asset Management Americas Inc. now owns 3,584,649 shares of the pharmacy operator’s stock valued at $259,887,000 after purchasing an additional 194,553 shares during the period. 83.97% of the stock is owned by institutional investors.

CVS stock opened at $63.07 on Thursday. The company has a debt-to-equity ratio of 0.59, a quick ratio of 0.52 and a current ratio of 1.02. CVS Health has a twelve month low of $60.14 and a twelve month high of $84.00. The company has a market cap of $64,899.61, a price-to-earnings ratio of 10.81, a P/E/G ratio of 1.06 and a beta of 1.05.



CVS Health (NYSE:CVS) last released its quarterly earnings data on Thursday, February 8th. The pharmacy operator reported $1.92 earnings per share for the quarter, topping analysts’ consensus estimates of $1.88 by $0.04. CVS Health had a net margin of 3.58% and a return on equity of 17.21%. The company had revenue of $48.39 billion for the quarter, compared to analysts’ expectations of $47.54 billion. During the same quarter last year, the company earned $1.71 earnings per share. The firm’s revenue for the quarter was up 5.3% on a year-over-year basis. analysts predict that CVS Health will post 6.31 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, May 3rd. Shareholders of record on Monday, April 23rd will be issued a dividend of $0.50 per share. The ex-dividend date is Friday, April 20th. This represents a $2.00 dividend on an annualized basis and a yield of 3.17%. CVS Health’s payout ratio is currently 33.90%.

In other CVS Health news, EVP Helena Foulkes sold 19,965 shares of the firm’s stock in a transaction that occurred on Friday, February 16th. The shares were sold at an average price of $71.04, for a total transaction of $1,418,313.60. Following the sale, the executive vice president now owns 65,072 shares of the company’s stock, valued at $4,622,714.88. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.61% of the stock is currently owned by company insiders.

Several research analysts have recently commented on CVS shares. Needham & Company LLC raised shares of CVS Health from a “buy” rating to a “strong-buy” rating and raised their price objective for the company from $88.00 to $100.00 in a research note on Tuesday, January 30th. Bank of America started coverage on shares of CVS Health in a research note on Tuesday, February 27th. They issued a “buy” rating and a $91.00 price objective for the company. Raymond James Financial raised shares of CVS Health from an “outperform” rating to a “strong-buy” rating and set a $90.00 price objective for the company in a research note on Thursday, January 4th. They noted that the move was a valuation call. Citigroup set a $77.00 price objective on shares of CVS Health and gave the company a “neutral” rating in a research note on Tuesday, February 13th. Finally, ValuEngine lowered shares of CVS Health from a “buy” rating to a “hold” rating in a research note on Friday, February 2nd. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating, twelve have assigned a buy rating and two have assigned a strong buy rating to the company. The stock presently has an average rating of “Buy” and an average price target of $86.65.

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About CVS Health

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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