Zurcher Kantonalbank Zurich Cantonalbank Sells 182,783 Shares of CVS Health Co. (NYSE:CVS)

Zurcher Kantonalbank Zurich Cantonalbank reduced its stake in CVS Health Co. (NYSE:CVS) by 44.1% during the fourth quarter, according to its most recent filing with the SEC. The fund owned 231,259 shares of the pharmacy operator’s stock after selling 182,783 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in CVS Health were worth $18,260,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Bryn Mawr Capital Management LLC boosted its holdings in shares of CVS Health by 74.0% in the 3rd quarter. Bryn Mawr Capital Management LLC now owns 43,213 shares of the pharmacy operator’s stock worth $3,017,000 after buying an additional 18,385 shares during the last quarter. Value Partners Investments Inc. boosted its holdings in shares of CVS Health by 26.5% in the 3rd quarter. Value Partners Investments Inc. now owns 991,601 shares of the pharmacy operator’s stock worth $69,261,000 after buying an additional 207,702 shares during the last quarter. Sonora Investment Management Group LLC boosted its holdings in shares of CVS Health by 1.6% in the 3rd quarter. Sonora Investment Management Group LLC now owns 50,488 shares of the pharmacy operator’s stock worth $3,525,000 after buying an additional 774 shares during the last quarter. Checchi Capital Advisers LLC boosted its holdings in shares of CVS Health by 2.3% in the 3rd quarter. Checchi Capital Advisers LLC now owns 10,405 shares of the pharmacy operator’s stock worth $726,000 after buying an additional 233 shares during the last quarter. Finally, Personal CFO Solutions LLC lifted its holdings in CVS Health by 2.6% during the third quarter. Personal CFO Solutions LLC now owns 19,355 shares of the pharmacy operator’s stock valued at $1,351,000 after purchasing an additional 491 shares during the last quarter. 80.66% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at CVS Health

In other CVS Health news, EVP Prem S. Shah sold 29,473 shares of the stock in a transaction that occurred on Friday, February 16th. The shares were sold at an average price of $76.95, for a total transaction of $2,267,947.35. Following the transaction, the executive vice president now directly owns 39,765 shares in the company, valued at $3,059,916.75. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 0.24% of the company’s stock.

CVS Health Stock Up 1.2 %

CVS stock opened at $69.39 on Friday. The company has a current ratio of 0.86, a quick ratio of 0.63 and a debt-to-equity ratio of 0.77. The company’s 50 day moving average is $75.42 and its 200 day moving average is $73.70. The stock has a market cap of $87.46 billion, a price-to-earnings ratio of 10.74, a price-to-earnings-growth ratio of 0.91 and a beta of 0.52. CVS Health Co. has a 1-year low of $64.41 and a 1-year high of $83.25.

CVS Health (NYSE:CVS) last posted its quarterly earnings data on Wednesday, February 7th. The pharmacy operator reported $2.12 earnings per share for the quarter, topping the consensus estimate of $2.01 by $0.11. CVS Health had a net margin of 2.33% and a return on equity of 15.25%. The company had revenue of $93.81 billion for the quarter, compared to analysts’ expectations of $90.58 billion. During the same period in the prior year, the business earned $1.99 earnings per share. CVS Health’s revenue for the quarter was up 11.9% compared to the same quarter last year. Sell-side analysts predict that CVS Health Co. will post 8.32 EPS for the current fiscal year.

CVS Health Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, May 1st. Shareholders of record on Monday, April 22nd will be given a dividend of $0.665 per share. This represents a $2.66 dividend on an annualized basis and a yield of 3.83%. The ex-dividend date is Friday, April 19th. CVS Health’s payout ratio is currently 41.18%.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on CVS shares. Leerink Partnrs reaffirmed an “outperform” rating on shares of CVS Health in a report on Monday, February 26th. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $87.00 price objective on shares of CVS Health in a report on Wednesday, April 10th. StockNews.com downgraded shares of CVS Health from a “buy” rating to a “hold” rating in a report on Thursday, February 15th. SVB Leerink started coverage on shares of CVS Health in a report on Monday, February 26th. They set an “outperform” rating and a $88.00 price objective on the stock. Finally, Royal Bank of Canada dropped their price objective on shares of CVS Health from $86.00 to $84.00 and set an “outperform” rating on the stock in a report on Thursday, February 8th. Four investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $89.44.

CVS Health Profile

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.