Quest Capital Management Inc. ADV Reduces Position in CVS Health Corp (NYSE:CVS)

Quest Capital Management Inc. ADV cut its stake in shares of CVS Health Corp (NYSE:CVS) by 99.1% during the second quarter, Holdings Channel.com reports. The institutional investor owned 5,534 shares of the pharmacy operator’s stock after selling 636,766 shares during the quarter. Quest Capital Management Inc. ADV’s holdings in CVS Health were worth $302,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Bay Harbor Wealth Management LLC boosted its holdings 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 valued at $30,000 after purchasing an additional 524 shares during the last quarter. Centaurus Financial Inc. boosted its holdings in CVS Health by 570.8% in the first quarter. Centaurus Financial Inc. now owns 1,630 shares of the pharmacy operator’s stock valued at $30,000 after purchasing an additional 1,387 shares during the last quarter. Manchester Financial Inc. purchased a new stake in CVS Health in the second quarter valued at $31,000. Hudock Capital Group LLC boosted its holdings in CVS Health by 54.0% in the second quarter. Hudock Capital Group LLC now owns 576 shares of the pharmacy operator’s stock valued at $31,000 after purchasing an additional 202 shares during the last quarter. Finally, Executive Wealth Management LLC boosted its stake in shares of CVS Health by 62.4% during the 2nd quarter. Executive Wealth Management LLC now owns 565 shares of the pharmacy operator’s stock worth $31,000 after acquiring an additional 217 shares in the last quarter. 75.20% of the stock is currently owned by hedge funds and other institutional investors.

Shares of CVS traded up $0.11 during mid-day trading on Tuesday, hitting $61.50. 119,714 shares of the company were exchanged, compared to its average volume of 8,907,550. CVS Health Corp has a 1-year low of $51.72 and a 1-year high of $82.15. The company has a debt-to-equity ratio of 1.39, a quick ratio of 0.64 and a current ratio of 0.95. The company has a 50 day moving average of $56.79 and a 200-day moving average of $56.41. The stock has a market cap of $78.39 billion, a price-to-earnings ratio of 8.68, a price-to-earnings-growth ratio of 1.32 and a beta of 0.90.



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

The business also recently declared a quarterly dividend, which was paid on Friday, August 2nd. Investors of record on Thursday, July 25th were given a dividend of $0.50 per share. The ex-dividend date of this dividend was Wednesday, July 24th. This represents a $2.00 annualized dividend and a dividend yield of 3.25%. CVS Health’s dividend payout ratio (DPR) is presently 28.25%.

Several equities research analysts have recently issued reports on CVS shares. Cantor Fitzgerald reissued a “buy” rating and set a $80.00 target price on shares of CVS Health in a research note on Wednesday, May 1st. ValuEngine lowered shares of CVS Health from a “sell” rating to a “strong sell” rating in a research note on Tuesday, July 2nd. Standpoint Research raised shares of CVS Health from a “hold” rating to a “buy” rating in a research note on Wednesday, June 5th. Credit Suisse Group lowered shares of CVS Health from an “outperform” rating to a “neutral” rating and lowered their target price for the stock from $73.00 to $61.00 in a research note on Monday, April 29th. Finally, Morgan Stanley reissued a “buy” rating and set a $74.00 target price on shares of CVS Health in a research note on Sunday, August 11th. Two analysts have rated the stock with a sell rating, seven have given a hold rating, sixteen have issued a buy rating and one has given a strong buy rating to the company’s stock. CVS Health currently has a consensus rating of “Buy” and an average target price of $75.14.

About CVS Health

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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