Bradley Foster & Sargent Inc. CT Lowers Holdings in CVS Health Co. (NYSE:CVS)

Bradley Foster & Sargent Inc. CT trimmed its holdings in CVS Health Co. (NYSE:CVS) by 43.1% during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 25,840 shares of the pharmacy operator’s stock after selling 19,576 shares during the quarter. Bradley Foster & Sargent Inc. CT’s holdings in CVS Health were worth $1,526,000 at the end of the most recent reporting period.

Several other hedge funds also recently added to or reduced their stakes in the business. Vanguard Group Inc. raised its position in shares of CVS Health by 0.5% in the fourth quarter. Vanguard Group Inc. now owns 117,696,285 shares of the pharmacy operator’s stock worth $9,293,299,000 after acquiring an additional 533,659 shares during the period. Capital World Investors raised its position in shares of CVS Health by 8.0% in the first quarter. Capital World Investors now owns 43,776,874 shares of the pharmacy operator’s stock worth $3,491,643,000 after acquiring an additional 3,232,172 shares during the period. Capital International Investors raised its position in shares of CVS Health by 12.5% in the first quarter. Capital International Investors now owns 37,917,923 shares of the pharmacy operator’s stock worth $3,024,334,000 after acquiring an additional 4,226,225 shares during the period. Capital Research Global Investors raised its position in shares of CVS Health by 1.4% in the first quarter. Capital Research Global Investors now owns 13,143,822 shares of the pharmacy operator’s stock worth $1,048,351,000 after acquiring an additional 184,297 shares during the period. Finally, Pzena Investment Management LLC raised its position in shares of CVS Health by 132.9% in the second quarter. Pzena Investment Management LLC now owns 12,936,388 shares of the pharmacy operator’s stock worth $764,023,000 after acquiring an additional 7,382,931 shares during the period. 80.66% of the stock is owned by hedge funds and other institutional investors.

CVS Health Stock Performance

CVS Health stock opened at $58.42 on Thursday. The firm has a 50 day simple moving average of $58.33 and a 200-day simple moving average of $62.74. CVS Health Co. has a 1-year low of $52.77 and a 1-year high of $83.25. The company has a debt-to-equity ratio of 0.83, a current ratio of 0.86 and a quick ratio of 0.66. The stock has a market cap of $73.34 billion, a price-to-earnings ratio of 10.27, a price-to-earnings-growth ratio of 0.79 and a beta of 0.53.

CVS Health (NYSE:CVS) last posted its quarterly earnings data on Wednesday, August 7th. The pharmacy operator reported $1.83 earnings per share for the quarter, topping analysts’ consensus estimates of $1.73 by $0.10. The firm had revenue of $91.23 billion during the quarter, compared to analysts’ expectations of $91.41 billion. CVS Health had a net margin of 1.98% and a return on equity of 12.72%. The firm’s quarterly revenue was up 2.6% on a year-over-year basis. During the same quarter last year, the company posted $2.21 EPS. On average, analysts expect that CVS Health Co. will post 6.51 EPS for the current year.

CVS Health Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, August 1st. Investors of record on Monday, July 22nd were given a dividend of $0.665 per share. The ex-dividend date was Monday, July 22nd. This represents a $2.66 dividend on an annualized basis and a dividend yield of 4.55%. CVS Health’s payout ratio is currently 46.75%.

Wall Street Analysts Forecast Growth

CVS has been the subject of a number of analyst reports. Robert W. Baird initiated coverage on shares of CVS Health in a research report on Thursday, May 30th. They issued a “neutral” rating and a $61.00 price objective for the company. Cantor Fitzgerald restated a “neutral” rating and set a $62.00 price target on shares of CVS Health in a research report on Monday. Deutsche Bank Aktiengesellschaft reduced their price target on shares of CVS Health from $64.00 to $63.00 and set a “hold” rating for the company in a research report on Friday, August 9th. Barclays reduced their price target on shares of CVS Health from $65.00 to $63.00 and set an “equal weight” rating for the company in a research report on Thursday, August 8th. Finally, JPMorgan Chase & Co. reduced their price target on shares of CVS Health from $101.00 to $86.00 and set an “overweight” rating for the company in a research report on Thursday, May 30th. Eleven investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $72.10.

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.