OLD National Bancorp IN Cuts Stock Position in CVS Health Co. (NYSE:CVS)

OLD National Bancorp IN decreased its stake in shares of CVS Health Co. (NYSE:CVS - Free Report) by 12.6% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 247,960 shares of the pharmacy operator's stock after selling 35,746 shares during the period. OLD National Bancorp IN's holdings in CVS Health were worth $11,131,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of the stock. MidAtlantic Capital Management Inc. purchased a new position in shares of CVS Health in the 3rd quarter worth about $25,000. Ridgewood Investments LLC raised its position in shares of CVS Health by 255.7% in the 4th quarter. Ridgewood Investments LLC now owns 626 shares of the pharmacy operator's stock worth $28,000 after acquiring an additional 450 shares in the last quarter. Livelsberger Financial Advisory bought a new position in shares of CVS Health in the 3rd quarter worth approximately $31,000. Legacy Investment Solutions LLC bought a new position in shares of CVS Health in the 3rd quarter worth approximately $31,000. Finally, Reston Wealth Management LLC bought a new position in shares of CVS Health in the 3rd quarter worth approximately $32,000. Hedge funds and other institutional investors own 80.66% of the company's stock.

Analyst Ratings Changes

A number of research analysts recently weighed in on the company. TD Cowen raised their price objective on CVS Health from $73.00 to $80.00 and gave the company a "buy" rating in a research report on Monday, November 25th. Piper Sandler cut their target price on 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 downgraded CVS Health from a "hold" rating to a "sell" rating in a research note on Thursday, November 14th. Evercore ISI raised their price target on CVS Health from $60.00 to $65.00 and gave the stock an "outperform" rating in a research note on Monday. Finally, Deutsche Bank Aktiengesellschaft upgraded CVS Health from a "hold" rating to a "buy" rating and set a $66.00 target price on the stock in a research report on Tuesday, December 3rd. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and fourteen have given a buy rating to the company. Based on data from MarketBeat, CVS Health presently has an average rating of "Moderate Buy" and an average price target of $68.12.

CVS Health Stock Down 0.1 %

NYSE:CVS traded down $0.06 during trading hours on Thursday, reaching $56.84. The company's stock had a trading volume of 11,117,991 shares, compared to its average volume of 13,518,829. The company has a market capitalization of $71.53 billion, a P/E ratio of 14.43, a price-to-earnings-growth ratio of 0.80 and a beta of 0.59. CVS Health Co. has a 12 month low of $43.56 and a 12 month high of $80.75. The company has a debt-to-equity ratio of 0.80, a quick ratio of 0.59 and a current ratio of 0.80. The stock has a 50 day moving average price of $51.28 and a two-hundred day moving average price of $56.17.

CVS Health (NYSE:CVS - Get Free Report) last released its earnings results on Wednesday, November 6th. The pharmacy operator reported $1.09 earnings per share (EPS) for the quarter, beating 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 for the quarter, compared to the consensus estimate of $92.72 billion. During the same period in the prior year, the firm earned $2.21 EPS. The firm's revenue was up 6.3% on a year-over-year basis. Equities analysts predict that CVS Health Co. will post 5.22 EPS for the current fiscal year.

CVS Health Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, February 3rd. Shareholders of record on Thursday, January 23rd will be issued a $0.665 dividend. The ex-dividend date of this dividend is Thursday, January 23rd. This represents a $2.66 dividend on an annualized basis and a yield of 4.68%. CVS Health's payout ratio is 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.