Reynders McVeigh Capital Management LLC Decreases Stock Position in CVS Health Co. (NYSE:CVS)

Reynders McVeigh Capital Management LLC trimmed its holdings in CVS Health Co. (NYSE:CVS - Free Report) by 73.1% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,053 shares of the pharmacy operator's stock after selling 16,408 shares during the quarter. Reynders McVeigh Capital Management LLC's holdings in CVS Health were worth $381,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also bought and sold shares of the company. Pzena Investment Management LLC lifted its holdings in shares of CVS Health by 1.5% during the third quarter. Pzena Investment Management LLC now owns 13,135,308 shares of the pharmacy operator's stock valued at $825,948,000 after purchasing an additional 198,920 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in shares of CVS Health by 2.6% during the third quarter. Charles Schwab Investment Management Inc. now owns 12,208,668 shares of the pharmacy operator's stock valued at $767,681,000 after purchasing an additional 304,386 shares during the last quarter. Hotchkis & Wiley Capital Management LLC lifted its holdings in shares of CVS Health by 34.8% during the third quarter. Hotchkis & Wiley Capital Management LLC now owns 11,897,034 shares of the pharmacy operator's stock valued at $748,085,000 after purchasing an additional 3,071,613 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in shares of CVS Health by 1.6% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 7,049,945 shares of the pharmacy operator's stock valued at $443,301,000 after purchasing an additional 107,977 shares during the last quarter. Finally, AQR Capital Management LLC lifted its holdings in shares of CVS Health by 33.5% during the second quarter. AQR Capital Management LLC now owns 5,289,788 shares of the pharmacy operator's stock valued at $310,722,000 after purchasing an additional 1,327,855 shares during the last quarter. Institutional investors own 80.66% of the company's stock.

CVS Health Stock Performance

Shares of CVS stock traded down $1.17 during mid-day trading on Thursday, reaching $56.88. 9,062,721 shares of the company's stock traded hands, compared to its average volume of 11,282,079. CVS Health Co. has a 12 month low of $52.71 and a 12 month high of $83.25. The firm has a 50 day moving average price of $59.39 and a two-hundred day moving average price of $58.79. 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 firm has a market capitalization of $71.58 billion, a PE ratio of 14.44, a price-to-earnings-growth ratio of 1.01 and a beta of 0.54.

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 for the quarter, beating analysts' consensus estimates of $1.08 by $0.01. CVS Health had a net margin of 1.36% and a return on equity of 10.72%. The company had revenue of $95.43 billion for the quarter, compared to analysts' expectations of $92.72 billion. During the same quarter in the previous year, the company earned $2.21 EPS. CVS Health's revenue for the quarter was up 6.3% on a year-over-year basis. On average, research analysts forecast that CVS Health Co. will post 5.37 EPS for the current year.

CVS Health Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, November 1st. Investors of record on Monday, October 21st were paid a dividend of $0.665 per share. This represents a $2.66 dividend on an annualized basis and a dividend yield of 4.68%. The ex-dividend date of this dividend was Monday, October 21st. CVS Health's dividend payout ratio (DPR) is 67.51%.

Wall Street Analyst Weigh In

CVS has been the subject of a number of recent analyst reports. Mizuho decreased their price objective on shares of CVS Health from $73.00 to $66.00 and set an "outperform" rating for the company in a report on Thursday, October 24th. Royal Bank of Canada decreased their price objective on shares of CVS Health from $68.00 to $58.00 and set an "outperform" rating for the company in a report on Friday, November 15th. Barclays decreased their price objective on shares of CVS Health from $75.00 to $71.00 and set an "overweight" rating for the company in a report on Thursday, November 7th. TD Cowen boosted their price objective on shares of CVS Health from $73.00 to $80.00 and gave the stock a "buy" rating in a report on Monday, November 25th. Finally, Wells Fargo & Company upgraded shares of CVS Health from an "equal weight" rating to an "overweight" rating and boosted their price objective for the stock from $60.00 to $66.00 in a report on Monday, November 18th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and fourteen have given a buy rating to the company. Based on data from MarketBeat.com, CVS Health currently has a consensus rating of "Moderate Buy" and a consensus target price of $70.50.

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.