AustralianSuper Pty Ltd Sells 492,309 Shares of CVS Health Corporation $CVS

AustralianSuper Pty Ltd reduced its stake in shares of CVS Health Corporation (NYSE:CVS) by 71.0% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 200,676 shares of the pharmacy operator’s stock after selling 492,309 shares during the quarter. AustralianSuper Pty Ltd’s holdings in CVS Health were worth $15,129,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of CVS. Avion Wealth lifted its stake in CVS Health by 99.0% in the 2nd quarter. Avion Wealth now owns 380 shares of the pharmacy operator’s stock worth $26,000 after purchasing an additional 189 shares in the last quarter. Harbor Capital Advisors Inc. increased its holdings in shares of CVS Health by 72.1% in the third quarter. Harbor Capital Advisors Inc. now owns 339 shares of the pharmacy operator’s stock worth $26,000 after purchasing an additional 142 shares during the last quarter. Corundum Trust Company INC bought a new position in CVS Health during the third quarter valued at approximately $29,000. Harbor Asset Planning Inc. purchased a new position in CVS Health during the 2nd quarter valued at approximately $30,000. Finally, Front Row Advisors LLC increased its stake in CVS Health by 436.5% in the 2nd quarter. Front Row Advisors LLC now owns 456 shares of the pharmacy operator’s stock worth $31,000 after acquiring an additional 371 shares during the last quarter. Institutional investors own 80.66% of the company’s stock.

CVS Health Stock Performance

CVS Health stock opened at $74.33 on Friday. The company has a debt-to-equity ratio of 0.83, a current ratio of 0.83 and a quick ratio of 0.63. The firm has a market capitalization of $94.35 billion, a P/E ratio of 195.61, a price-to-earnings-growth ratio of 0.68 and a beta of 0.48. CVS Health Corporation has a 1-year low of $53.36 and a 1-year high of $85.15. The company’s 50-day moving average is $78.97 and its 200 day moving average is $75.01.

CVS Health (NYSE:CVS) last released its earnings results on Wednesday, October 29th. The pharmacy operator reported $1.60 EPS for the quarter, beating analysts’ consensus estimates of $1.36 by $0.24. CVS Health had a return on equity of 11.45% and a net margin of 0.12%.The firm had revenue of $102.87 billion for the quarter, compared to analysts’ expectations of $98.85 billion. During the same quarter in the prior year, the firm posted $1.09 earnings per share. The company’s quarterly revenue was up 7.8% on a year-over-year basis. Research analysts forecast that CVS Health Corporation will post 5.89 EPS for the current year.

CVS Health Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, February 2nd. Investors of record on Thursday, January 22nd will be issued a dividend of $0.665 per share. The ex-dividend date is Thursday, January 22nd. This represents a $2.66 dividend on an annualized basis and a yield of 3.6%. CVS Health’s dividend payout ratio (DPR) is presently 700.00%.

Analyst Ratings Changes

A number of research firms have recently commented on CVS. TD Cowen increased their target price on CVS Health from $100.00 to $105.00 and gave the company a “buy” rating in a research report on Wednesday, December 10th. Cantor Fitzgerald reiterated an “overweight” rating on shares of CVS Health in a research report on Wednesday, December 10th. The Goldman Sachs Group boosted their target price on shares of CVS Health from $93.00 to $95.00 and gave the stock a “buy” rating in a report on Wednesday, December 10th. Bank of America decreased their target price on shares of CVS Health from $100.00 to $95.00 and set a “buy” rating on the stock in a research report on Tuesday. Finally, Sanford C. Bernstein reiterated a “market perform” rating and issued a $91.00 price target on shares of CVS Health in a research report on Tuesday, January 6th. Nineteen research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat, CVS Health presently has a consensus rating of “Moderate Buy” and an average price target of $94.82.

About CVS Health

CVS Health Corporation is a diversified healthcare company that operates a large network of retail pharmacies, pharmacy benefit management services and health care solutions. Headquartered in Woonsocket, Rhode Island, the company traces its roots to the early 1960s and has grown into an integrated provider of prescription drugs, over‑the‑counter products, clinical services and health insurance offerings. Its operating model combines retail pharmacy locations and in‑store clinics with broader pharmacy and health plan capabilities.

Key business activities include CVS Pharmacy retail operations, MinuteClinic walk‑in medical clinics and HealthHUB locations that offer expanded clinical services.