Raymond James Trust N.A. Reduces Position in CVS Health Co. (NYSE:CVS)

Raymond James Trust N.A. cut its holdings in CVS Health Co. (NYSE:CVS - Free Report) by 3.2% during the third quarter, according to its most recent Form 13F filing with the SEC. The fund owned 279,293 shares of the pharmacy operator's stock after selling 9,310 shares during the period. Raymond James Trust N.A.'s holdings in CVS Health were worth $17,562,000 at the end of the most recent reporting period.

Several other hedge funds also recently added to or reduced their stakes in CVS. MidAtlantic Capital Management Inc. purchased a new position in shares of CVS Health during the 3rd quarter worth approximately $25,000. Livelsberger Financial Advisory purchased a new stake in shares of CVS Health in the 3rd quarter valued at $31,000. Reston Wealth Management LLC acquired a new position in CVS Health in the 3rd quarter valued at about $32,000. Kathleen S. Wright Associates Inc. purchased a new stake in CVS Health during the third quarter worth about $33,000. Finally, First Community Trust NA boosted its stake in shares of CVS Health by 116.2% in the second quarter. First Community Trust NA now owns 562 shares of the pharmacy operator's stock valued at $33,000 after purchasing an additional 302 shares during the period. 80.66% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities analysts have commented on the stock. Barclays dropped their price target on shares of CVS Health from $75.00 to $71.00 and set an "overweight" rating for the company in a research note on Thursday, November 7th. StockNews.com downgraded CVS Health from a "hold" rating to a "sell" rating in a report on Thursday, November 14th. Mizuho lowered their price objective on CVS Health from $73.00 to $66.00 and set an "outperform" rating for the company in a research report on Thursday, October 24th. TD Cowen upgraded shares of CVS Health from a "hold" rating to a "buy" rating and lifted their price target for the stock from $59.00 to $85.00 in a research note on Friday, October 4th. 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, seven have assigned a hold rating and thirteen have issued a buy rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $72.28.

CVS Health Stock Performance

NYSE:CVS traded up $0.91 during mid-day trading on Friday, reaching $58.01. The stock had a trading volume of 10,132,282 shares, compared to its average volume of 11,354,896. 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 business has a 50 day simple moving average of $59.20 and a 200 day simple moving average of $58.60. CVS Health Co. has a twelve month low of $52.71 and a twelve month high of $83.25. The firm has a market capitalization of $73.00 billion, a price-to-earnings ratio of 14.48, a PEG ratio of 0.94 and a beta of 0.55.

CVS Health (NYSE:CVS - Get Free Report) last posted its quarterly earnings results on Wednesday, November 6th. The pharmacy operator reported $1.09 earnings per share for the quarter, topping analysts' consensus estimates of $1.08 by $0.01. The business had revenue of $95.43 billion for 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 in the prior year, the company posted $2.21 EPS. On average, analysts expect that CVS Health Co. will post 5.43 earnings per share for the current fiscal year.

CVS Health Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, November 1st. Shareholders of record on Monday, October 21st were given a dividend of $0.665 per share. The ex-dividend date was Monday, October 21st. This represents a $2.66 dividend on an annualized basis and a yield of 4.59%. CVS Health's payout ratio is 67.51%.

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.