CVS Health Co. (NYSE:CVS) Stock Position Lowered by ING Groep NV

ING Groep NV reduced its position in shares of CVS Health Co. (NYSE:CVS) by 43.0% during the 3rd quarter, Holdings Channel.com reports. The firm owned 169,265 shares of the pharmacy operator’s stock after selling 127,683 shares during the period. ING Groep NV’s holdings in CVS Health were worth $10,643,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of CVS. Tokio Marine Asset Management Co. Ltd. raised its position in CVS Health by 7.9% during the third quarter. Tokio Marine Asset Management Co. Ltd. now owns 33,660 shares of the pharmacy operator’s stock valued at $2,117,000 after buying an additional 2,472 shares during the period. Metis Global Partners LLC lifted its position in shares of CVS Health by 1.4% in the third quarter. Metis Global Partners LLC now owns 40,064 shares of the pharmacy operator’s stock worth $2,519,000 after purchasing an additional 557 shares in the last quarter. Plato Investment Management Ltd boosted its holdings in shares of CVS Health by 4.0% during the third quarter. Plato Investment Management Ltd now owns 36,020 shares of the pharmacy operator’s stock worth $2,263,000 after purchasing an additional 1,383 shares during the period. Alexander Randolph Advisory Inc. grew its position in CVS Health by 7.3% during the third quarter. Alexander Randolph Advisory Inc. now owns 59,602 shares of the pharmacy operator’s stock valued at $3,748,000 after purchasing an additional 4,035 shares in the last quarter. Finally, Oppenheimer & Co. Inc. increased its stake in CVS Health by 5.6% in the 3rd quarter. Oppenheimer & Co. Inc. now owns 99,848 shares of the pharmacy operator’s stock valued at $6,278,000 after buying an additional 5,325 shares during the period. Hedge funds and other institutional investors own 80.66% of the company’s stock.

Analysts Set New Price Targets

CVS has been the topic of several research analyst reports. Evercore ISI boosted their price target on shares of CVS Health from $62.00 to $75.00 and gave the company an “outperform” rating in a report on Tuesday, October 8th. Wells Fargo & Company lowered their target price on CVS Health from $61.00 to $60.00 and set an “equal weight” rating on the stock in a research note on Monday, November 4th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $68.00 price target on shares of CVS Health in a research note on Wednesday, September 4th. StockNews.com downgraded CVS Health from a “hold” rating to a “sell” rating in a report on Thursday. Finally, Cantor Fitzgerald reaffirmed a “neutral” rating and set a $62.00 price objective on shares of CVS Health in a research report on Tuesday, October 1st. One analyst has rated the stock with a sell rating, eight have issued a hold rating and twelve have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $73.00.

CVS Health Stock Up 1.5 %

Shares of CVS stock opened at $55.11 on Friday. The stock has a 50 day moving average of $59.41 and a 200-day moving average of $58.79. The firm has a market cap of $69.35 billion, a PE ratio of 13.99, a price-to-earnings-growth ratio of 0.93 and a beta of 0.55. The company has a quick ratio of 0.59, a current ratio of 0.80 and a debt-to-equity ratio of 0.80. CVS Health Co. has a 12 month low of $52.77 and a 12 month high of $83.25.

CVS Health (NYSE:CVS) last issued its quarterly earnings results on Wednesday, November 6th. The pharmacy operator reported $1.09 earnings per share for the quarter, beating analysts’ consensus estimates of $1.08 by $0.01. The firm had revenue of $95.43 billion during the quarter, compared to the consensus estimate of $92.72 billion. CVS Health had a net margin of 1.36% and a return on equity of 10.72%. The business’s revenue was up 6.3% on a year-over-year basis. During the same period in the prior year, the firm earned $2.21 EPS. On average, equities analysts predict that CVS Health Co. will post 5.48 EPS for the current year.

CVS Health Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, November 1st. Stockholders of record on Monday, October 21st were issued a dividend of $0.665 per share. This represents a $2.66 annualized dividend and a dividend yield of 4.83%. The ex-dividend date was Monday, October 21st. CVS Health’s payout ratio is presently 67.51%.

About CVS Health

CVS Health Corporation provides health solutions in the United States. It operates through Health Care Benefits, Health Services, and Pharmacy & Consumer Wellness segments. The Health Care Benefits segment offers traditional, voluntary, and consumer-directed health insurance products and related services.