Wright Investors Service Inc. Reduces Stock Holdings in CVS Health Corp (NYSE:CVS)

Wright Investors Service Inc. decreased its holdings in CVS Health Corp (NYSE:CVS) by 11.2% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 36,830 shares of the pharmacy operator’s stock after selling 4,668 shares during the quarter. Wright Investors Service Inc.’s holdings in CVS Health were worth $2,007,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also made changes to their positions in the company. Bay Harbor Wealth Management LLC lifted its stake in CVS Health by 1,871.4% in the first quarter. Bay Harbor Wealth Management LLC now owns 552 shares of the pharmacy operator’s stock worth $30,000 after acquiring an additional 524 shares during the period. Executive Wealth Management LLC lifted its stake in CVS Health by 62.4% in the second quarter. Executive Wealth Management LLC now owns 565 shares of the pharmacy operator’s stock worth $31,000 after acquiring an additional 217 shares during the period. Manchester Financial Inc. purchased a new stake in CVS Health in the second quarter worth $31,000. Hudock Capital Group LLC lifted its stake in CVS Health by 54.0% in the second quarter. Hudock Capital Group LLC now owns 576 shares of the pharmacy operator’s stock worth $31,000 after acquiring an additional 202 shares during the period. Finally, C J Advisory Inc purchased a new position in CVS Health during the first quarter valued at $33,000. 77.18% of the stock is owned by institutional investors.

Shares of CVS traded down $0.10 during trading hours on Thursday, hitting $58.46. The company had a trading volume of 288,073 shares, compared to its average volume of 8,160,261. The company’s fifty day moving average is $56.23. The company has a quick ratio of 0.64, a current ratio of 0.95 and a debt-to-equity ratio of 1.39. The stock has a market capitalization of $76.38 billion, a PE ratio of 8.24, a price-to-earnings-growth ratio of 1.29 and a beta of 0.90. CVS Health Corp has a 52-week low of $51.72 and a 52-week high of $82.15.



CVS Health (NYSE:CVS) last posted its quarterly earnings results on Wednesday, August 7th. The pharmacy operator reported $1.89 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.70 by $0.19. The firm had revenue of $63.43 billion during the quarter, compared to analyst estimates of $62.66 billion. CVS Health had a return on equity of 16.15% and a net margin of 1.91%. CVS Health’s quarterly revenue was up 35.2% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.69 EPS. On average, sell-side analysts predict that CVS Health Corp will post 6.96 EPS for the current year.

The business also recently declared a quarterly dividend, which was paid on Friday, August 2nd. Stockholders of record on Thursday, July 25th were given a $0.50 dividend. This represents a $2.00 annualized dividend and a dividend yield of 3.42%. The ex-dividend date of this dividend was Wednesday, July 24th. CVS Health’s dividend payout ratio is presently 28.25%.

Several equities analysts have commented on the company. Evercore ISI set a $63.00 price objective on CVS Health and gave the company a “buy” rating in a research report on Wednesday, August 7th. Guggenheim assumed coverage on CVS Health in a research report on Thursday, April 18th. They set a “buy” rating and a $75.00 price objective for the company. Citigroup raised their price objective on CVS Health from $68.00 to $72.00 and gave the company a “buy” rating in a research report on Thursday, August 8th. Credit Suisse Group lowered CVS Health from an “outperform” rating to a “neutral” rating and lowered their price objective for the company from $73.00 to $61.00 in a research report on Monday, April 29th. Finally, Morgan Stanley reissued a “buy” rating and set a $74.00 price objective on shares of CVS Health in a research report on Sunday. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating, sixteen have given a buy rating and one has given a strong buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus target price of $75.14.

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.

Further Reading: Book Value Of Equity Per Share – BVPS Explained

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Institutional Ownership by Quarter for CVS Health (NYSE:CVS)

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