Ferguson Wellman Capital Management Inc. Trims Stake in CVS Health Corp (CVS)

Ferguson Wellman Capital Management Inc. trimmed its holdings in CVS Health Corp (NYSE:CVS) by 28.7% in the 3rd quarter, HoldingsChannel.com reports. The fund owned 2,606 shares of the pharmacy operator’s stock after selling 1,047 shares during the quarter. Ferguson Wellman Capital Management Inc.’s holdings in CVS Health were worth $205,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also bought and sold shares of CVS. Palo Capital Inc. raised its stake in shares of CVS Health by 90.4% in the third quarter. Palo Capital Inc. now owns 60,510 shares of the pharmacy operator’s stock valued at $4,763,000 after purchasing an additional 28,729 shares in the last quarter. Watch Point Trust Co raised its stake in shares of CVS Health by 6.5% in the third quarter. Watch Point Trust Co now owns 37,650 shares of the pharmacy operator’s stock valued at $2,964,000 after purchasing an additional 2,304 shares in the last quarter. Mycio Wealth Partners LLC raised its stake in shares of CVS Health by 35.4% in the third quarter. Mycio Wealth Partners LLC now owns 5,970 shares of the pharmacy operator’s stock valued at $470,000 after purchasing an additional 1,561 shares in the last quarter. Thomasville National Bank raised its stake in shares of CVS Health by 1.8% in the third quarter. Thomasville National Bank now owns 216,238 shares of the pharmacy operator’s stock valued at $17,022,000 after purchasing an additional 3,791 shares in the last quarter. Finally, Kanawha Capital Management LLC raised its stake in shares of CVS Health by 2.2% in the third quarter. Kanawha Capital Management LLC now owns 43,901 shares of the pharmacy operator’s stock valued at $3,456,000 after purchasing an additional 942 shares in the last quarter. 82.62% of the stock is owned by institutional investors.

In other news, EVP Lisa Bisaccia sold 21,534 shares of the firm’s stock in a transaction on Monday, October 1st. The stock was sold at an average price of $80.00, for a total value of $1,722,720.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Kevin Hourican sold 8,564 shares of the firm’s stock in a transaction on Monday, August 27th. The shares were sold at an average price of $75.00, for a total value of $642,300.00. Following the completion of the sale, the executive vice president now owns 12,135 shares of the company’s stock, valued at $910,125. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 43,409 shares of company stock valued at $3,392,097. 0.53% of the stock is currently owned by corporate insiders.



A number of research analysts recently commented on CVS shares. Bank of America upped their target price on CVS Health from $86.00 to $90.00 and gave the company a “buy” rating in a research note on Monday, September 17th. ValuEngine upgraded CVS Health from a “strong sell” rating to a “sell” rating in a research note on Tuesday, August 28th. Royal Bank of Canada reiterated a “buy” rating and set a $90.00 price objective on shares of CVS Health in a research note on Wednesday, August 8th. Tigress Financial reiterated a “buy” rating on shares of CVS Health in a research note on Friday. Finally, Morgan Stanley dropped their price objective on CVS Health from $88.00 to $80.00 and set an “overweight” rating for the company in a research note on Tuesday, July 3rd. One investment analyst has rated the stock with a sell rating, five have given a hold rating, ten have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus price target of $86.18.

CVS Health stock opened at $70.12 on Monday. The company has a debt-to-equity ratio of 1.73, a current ratio of 2.34 and a quick ratio of 1.87. CVS Health Corp has a 52-week low of $60.14 and a 52-week high of $83.88. The firm has a market cap of $71.39 billion, a price-to-earnings ratio of 10.64, a P/E/G ratio of 0.94 and a beta of 1.02.

CVS Health (NYSE:CVS) last released its quarterly earnings data on Wednesday, August 8th. The pharmacy operator reported $1.69 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.61 by $0.08. CVS Health had a return on equity of 18.25% and a net margin of 1.61%. The firm had revenue of $46.71 billion during the quarter, compared to analyst estimates of $46.34 billion. During the same period in the prior year, the company posted $1.33 earnings per share. The business’s revenue for the quarter was up 2.2% compared to the same quarter last year. Equities analysts anticipate that CVS Health Corp will post 7.01 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Thursday, November 1st. Stockholders of record on Wednesday, October 24th will be paid a $0.50 dividend. The ex-dividend date of this dividend is Tuesday, October 23rd. This represents a $2.00 dividend on an annualized basis and a dividend yield of 2.85%. CVS Health’s dividend payout ratio (DPR) is presently 33.90%.

CVS Health Profile

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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