CVS Health Co. (NYSE:CVS) Shares Sold by Bank of Montreal Can

Bank of Montreal Can reduced its position in shares of CVS Health Co. (NYSE:CVS - Free Report) by 5.1% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 2,312,880 shares of the pharmacy operator's stock after selling 123,463 shares during the quarter. Bank of Montreal Can owned about 0.18% of CVS Health worth $141,965,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also bought and sold shares of the company. Pzena Investment Management LLC grew its position in shares of CVS Health by 132.9% during the 2nd quarter. Pzena Investment Management LLC now owns 12,936,388 shares of the pharmacy operator's stock worth $764,023,000 after buying an additional 7,382,931 shares in the last quarter. Pathway Financial Advisers LLC grew its position in shares of CVS Health by 5,864.2% during the 3rd quarter. Pathway Financial Advisers LLC now owns 1,730,343 shares of the pharmacy operator's stock worth $108,804,000 after buying an additional 1,701,331 shares in the last quarter. State of Michigan Retirement System grew its position in shares of CVS Health by 402.5% during the 2nd quarter. State of Michigan Retirement System now owns 2,005,677 shares of the pharmacy operator's stock worth $118,455,000 after buying an additional 1,606,500 shares in the last quarter. Swedbank AB bought a new position in shares of CVS Health during the 1st quarter worth $110,816,000. Finally, AQR Capital Management LLC grew its position in shares of CVS Health by 33.5% during the 2nd quarter. AQR Capital Management LLC now owns 5,289,788 shares of the pharmacy operator's stock worth $310,722,000 after buying an additional 1,327,855 shares in the last quarter. 80.66% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on CVS shares. Barclays dropped their price target on CVS Health from $75.00 to $71.00 and set an "overweight" rating on the stock in a research report on Thursday, November 7th. Royal Bank of Canada decreased their price objective on CVS Health from $68.00 to $58.00 and set an "outperform" rating for the company in a research note on Friday, November 15th. Evercore ISI upped their price objective on CVS Health from $62.00 to $75.00 and gave the stock an "outperform" rating in a research note on Tuesday, October 8th. TD Cowen upped their price objective on CVS Health from $73.00 to $80.00 and gave the stock a "buy" rating in a research note on Monday. Finally, UBS Group upped their price objective on CVS Health from $60.00 to $62.00 and gave the stock a "neutral" rating in a research note on Thursday, November 7th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and thirteen have issued a buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $70.33.

CVS Health Stock Performance

Shares of NYSE:CVS traded down $1.06 during trading on Tuesday, hitting $59.02. The stock had a trading volume of 7,884,767 shares, compared to its average volume of 11,362,798. CVS Health Co. has a 12-month low of $52.71 and a 12-month high of $83.25. The stock has a market capitalization of $74.27 billion, a price-to-earnings ratio of 14.98, a price-to-earnings-growth ratio of 0.98 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. The stock has a 50-day simple moving average of $59.26 and a two-hundred day simple moving average of $58.69.

CVS Health (NYSE:CVS - Get Free Report) last announced its quarterly earnings data on Wednesday, November 6th. The pharmacy operator reported $1.09 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.08 by $0.01. CVS Health had a return on equity of 10.72% and a net margin of 1.36%. The firm had revenue of $95.43 billion during the quarter, compared to analysts' expectations of $92.72 billion. During the same period last year, the business posted $2.21 earnings per share. The company's revenue for the quarter was up 6.3% compared to the same quarter last year. On average, equities research analysts expect that CVS Health Co. will post 5.43 earnings per share for the current fiscal year.

CVS Health Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, November 1st. Investors of record on Monday, October 21st were issued a dividend of $0.665 per share. This represents a $2.66 annualized dividend and a yield of 4.51%. The ex-dividend date of this dividend was Monday, October 21st. CVS Health's dividend payout ratio (DPR) is 67.51%.

CVS Health Company 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.