Birch Capital Management LLC Decreases Stake in CVS Health Co. (NYSE:CVS)

Birch Capital Management LLC lowered its position in shares of CVS Health Co. (NYSE:CVS - Free Report) by 93.0% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 4,387 shares of the pharmacy operator's stock after selling 58,442 shares during the quarter. Birch Capital Management LLC's holdings in CVS Health were worth $197,000 at the end of the most recent reporting period.

Other large investors have also made changes to their positions in the company. MidAtlantic Capital Management Inc. acquired a new position in CVS Health during the third quarter worth $25,000. Livelsberger Financial Advisory bought a new stake in CVS Health in the 3rd quarter valued at about $31,000. Legacy Investment Solutions LLC bought a new position in CVS Health during the 3rd quarter worth $31,000. Reston Wealth Management LLC acquired a new position in shares of CVS Health in the 3rd quarter valued at approximately $32,000. Finally, Kathleen S. Wright Associates Inc. acquired a new stake in shares of CVS Health in the 3rd quarter valued at $33,000. Institutional investors and hedge funds own 80.66% of the company's stock.

CVS Health Price Performance

NYSE:CVS traded up $0.01 during trading hours on Tuesday, reaching $45.83. 10,241,564 shares of the company were exchanged, compared to its average volume of 12,382,834. CVS Health Co. has a twelve month low of $43.56 and a twelve month high of $83.25. The stock's 50-day moving average is $52.63 and its 200-day moving average is $56.97. The company has a current ratio of 0.80, a quick ratio of 0.59 and a debt-to-equity ratio of 0.80. The firm has a market cap of $57.67 billion, a PE ratio of 11.63, a price-to-earnings-growth ratio of 0.85 and a beta of 0.59.

CVS Health (NYSE:CVS - Get Free Report) last announced 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 business had revenue of $95.43 billion during the quarter, compared to analysts' expectations 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 for the quarter was up 6.3% on a year-over-year basis. During the same period last year, the business earned $2.21 earnings per share. On average, sell-side analysts anticipate that CVS Health Co. will post 5.32 earnings per share for the current fiscal year.

CVS Health Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, February 3rd. Stockholders of record on Thursday, January 23rd will be paid a dividend of $0.665 per share. The ex-dividend date of this dividend is Thursday, January 23rd. This represents a $2.66 annualized dividend and a dividend yield of 5.80%. CVS Health's dividend payout ratio (DPR) is 67.51%.

Analyst Ratings Changes

CVS has been the subject of several recent research reports. Royal Bank of Canada decreased their price target on shares of CVS Health from $68.00 to $58.00 and set an "outperform" rating for the company in a research report on Friday, November 15th. Piper Sandler cut their target price on shares of CVS Health from $72.00 to $64.00 and set an "overweight" rating on the stock in a research note on Monday, November 25th. StockNews.com cut CVS Health from a "hold" rating to a "sell" rating in a report on Thursday, November 14th. Barclays lowered their price objective on CVS Health from $75.00 to $71.00 and set an "overweight" rating for the company in a research note on Thursday, November 7th. Finally, Mizuho reduced their price objective on shares of CVS Health from $73.00 to $66.00 and set an "outperform" rating for the company in a research report on Thursday, October 24th. One analyst has rated the stock with a sell rating, six have issued a hold rating and thirteen have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $68.71.

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.