Farmers Trust Co. Reduces Stock Position in CVS Health Corp (NYSE:CVS)

Farmers Trust Co. trimmed its holdings in CVS Health Corp (NYSE:CVS) by 18.1% in the 3rd quarter, according to its most recent disclosure with the SEC. The firm owned 60,176 shares of the pharmacy operator’s stock after selling 13,309 shares during the period. Farmers Trust Co.’s holdings in CVS Health were worth $3,795,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of CVS. Centaurus Financial Inc. increased its holdings in shares of 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. Neville Rodie & Shaw Inc. acquired a new stake in shares of CVS Health in the second quarter valued at $3,041,000. Cox Capital Mgt LLC acquired a new stake in CVS Health in the second quarter valued at $366,000. Boltwood Capital Management raised its stake in CVS Health by 32.4% in the second quarter. Boltwood Capital Management now owns 12,020 shares of the pharmacy operator’s stock valued at $655,000 after buying an additional 2,940 shares in the last quarter. Finally, Thomasville National Bank raised its stake in CVS Health by 4.6% in the second quarter. Thomasville National Bank now owns 231,853 shares of the pharmacy operator’s stock valued at $12,634,000 after buying an additional 10,295 shares in the last quarter. Institutional investors own 76.12% of the company’s stock.

A number of research firms have recently commented on CVS. Citigroup lifted their target price on CVS Health from $68.00 to $72.00 and gave the stock a “buy” rating in a research report on Thursday, August 8th. TheStreet raised CVS Health from a “c+” rating to a “b-” rating in a report on Monday, September 9th. Morgan Stanley lifted their price objective on CVS Health from $74.00 to $77.00 and gave the company an “overweight” rating in a report on Thursday, September 26th. Evercore ISI set a $63.00 price target on CVS Health and gave the stock a “buy” rating in a research note on Wednesday, August 7th. Finally, Deutsche Bank assumed coverage on CVS Health in a research note on Thursday, September 12th. They set a “buy” rating and a $91.00 price target on the stock. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating, eighteen have given a buy rating and one has assigned a strong buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus target price of $75.39.

In related news, CFO Eva C. Boratto sold 8,130 shares of the stock in a transaction dated Thursday, September 12th. The shares were sold at an average price of $65.00, for a total transaction of $528,450.00. Following the sale, the chief financial officer now owns 55,273 shares in the company, valued at $3,592,745. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Joshua Matthew Flum sold 17,703 shares of the stock in a transaction dated Monday, September 30th. The stock was sold at an average price of $63.00, for a total transaction of $1,115,289.00. Following the sale, the executive vice president now owns 36,163 shares in the company, valued at approximately $2,278,269. The disclosure for this sale can be found here. 0.53% of the stock is owned by corporate insiders.

Shares of CVS Health stock opened at $64.84 on Friday. The company has a fifty day moving average price of $63.36 and a 200 day moving average price of $57.47. The company has a current ratio of 0.95, a quick ratio of 0.64 and a debt-to-equity ratio of 1.39. CVS Health Corp has a twelve month low of $51.72 and a twelve month high of $82.15. The stock has a market cap of $85.31 billion, a price-to-earnings ratio of 9.16, a price-to-earnings-growth ratio of 1.43 and a beta of 0.86.

CVS Health (NYSE:CVS) last posted its quarterly earnings data on Wednesday, August 7th. The pharmacy operator reported $1.89 earnings per share for the quarter, beating analysts’ consensus estimates of $1.70 by $0.19. The company had revenue of $63.43 billion during the quarter, compared to analysts’ expectations of $62.66 billion. CVS Health had a net margin of 1.91% and a return on equity of 16.15%. The firm’s revenue for the quarter was up 35.2% on a year-over-year basis. During the same period in the prior year, the company posted $1.69 EPS. Analysts forecast that CVS Health Corp will post 6.98 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, November 4th. Investors of record on Thursday, October 24th will be paid a dividend of $0.50 per share. The ex-dividend date of this dividend is Wednesday, October 23rd. This represents a $2.00 annualized dividend and a yield of 3.08%. CVS Health’s dividend payout ratio (DPR) is 28.25%.

CVS Health 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.

Recommended Story: What does a hold rating mean?

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

Receive News & Ratings for CVS Health Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for CVS Health and related companies with MarketBeat.com's FREE daily email newsletter.