Loomis Sayles & Co. L P Sells 1,350 Shares of CVS Health Co. (NYSE:CVS)

Loomis Sayles & Co. L P trimmed its holdings in shares of CVS Health Co. (NYSE:CVS) by 61.3% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 852 shares of the pharmacy operator’s stock after selling 1,350 shares during the period. Loomis Sayles & Co. L P’s holdings in CVS Health were worth $38,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of the business. NEOS Investment Management LLC increased its holdings in CVS Health by 31.6% in the 4th quarter. NEOS Investment Management LLC now owns 77,773 shares of the pharmacy operator’s stock worth $3,491,000 after buying an additional 18,667 shares in the last quarter. UniSuper Management Pty Ltd grew its stake in shares of CVS Health by 26.5% in the fourth quarter. UniSuper Management Pty Ltd now owns 91,677 shares of the pharmacy operator’s stock worth $4,115,000 after acquiring an additional 19,203 shares during the period. Sava Infond d.o.o. purchased a new position in shares of CVS Health during the fourth quarter valued at approximately $424,000. Mitsubishi UFJ Asset Management Co. Ltd. lifted its position in CVS Health by 10.3% during the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 2,011,087 shares of the pharmacy operator’s stock valued at $92,047,000 after purchasing an additional 187,086 shares during the period. Finally, Financial Engines Advisors L.L.C. purchased a new stake in CVS Health in the fourth quarter worth approximately $366,000. Institutional investors own 80.66% of the company’s stock.

CVS Health Stock Performance

Shares of NYSE CVS opened at $67.79 on Tuesday. The firm’s fifty day moving average is $62.42 and its two-hundred day moving average is $57.76. CVS Health Co. has a 52-week low of $43.56 and a 52-week high of $79.98. The company has a market cap of $85.46 billion, a P/E ratio of 18.52, a P/E/G ratio of 0.98 and a beta of 0.54. The company has a debt-to-equity ratio of 0.80, a quick ratio of 0.60 and a current ratio of 0.81.

CVS Health (NYSE:CVS) last issued its quarterly earnings results on Wednesday, February 12th. The pharmacy operator reported $1.19 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.89 by $0.30. CVS Health had a return on equity of 9.11% and a net margin of 1.24%. As a group, analysts anticipate that CVS Health Co. will post 5.89 EPS for the current fiscal year.

CVS Health Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, May 1st. Investors of record on Tuesday, April 22nd will be given a $0.665 dividend. This represents a $2.66 dividend on an annualized basis and a yield of 3.92%. The ex-dividend date of this dividend is Tuesday, April 22nd. CVS Health’s dividend payout ratio (DPR) is currently 72.68%.

Insiders Place Their Bets

In related news, SVP James David Clark sold 7,513 shares of the firm’s stock in a transaction that occurred on Wednesday, March 5th. The stock was sold at an average price of $66.35, for a total transaction of $498,487.55. Following the completion of the sale, the senior vice president now directly owns 8,394 shares of the company’s stock, valued at approximately $556,941.90. This trade represents a 47.23 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Michael F. Mahoney acquired 30,000 shares of the business’s stock in a transaction on Tuesday, February 18th. The stock was acquired at an average cost of $66.70 per share, for a total transaction of $2,001,000.00. Following the transaction, the director now directly owns 39,356 shares in the company, valued at $2,625,045.20. The trade was a 320.65 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 0.24% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the company. Wolfe Research increased their price target on CVS Health from 67.00 to 70.00 and gave the company an “overweight” rating in a report on Tuesday, February 11th. Barclays increased their target price on CVS Health from $71.00 to $73.00 and gave the company an “overweight” rating in a report on Thursday, February 13th. Argus set a $77.00 price target on shares of CVS Health in a research report on Tuesday, February 18th. Leerink Partners raised shares of CVS Health from a “market perform” rating to an “outperform” rating and upped their target price for the company from $55.00 to $75.00 in a report on Thursday, February 13th. Finally, Evercore ISI lifted their price target on shares of CVS Health from $60.00 to $65.00 and gave the stock an “outperform” rating in a research note on Monday, January 27th. Four equities research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, CVS Health has an average rating of “Moderate Buy” and an average target price of $70.39.

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.