Wintrust Investments LLC Lowers Stock Position in CVS Health Co. (NYSE:CVS)

Wintrust Investments LLC cut its holdings in CVS Health Co. (NYSE:CVS) by 57.3% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 24,909 shares of the pharmacy operator’s stock after selling 33,386 shares during the period. Wintrust Investments LLC’s holdings in CVS Health were worth $2,078,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. MV Capital Management Inc. lifted its holdings in CVS Health by 96.1% in the 2nd quarter. MV Capital Management Inc. now owns 400 shares of the pharmacy operator’s stock worth $33,000 after purchasing an additional 196 shares in the last quarter. Solstein Capital LLC purchased a new position in CVS Health in the 1st quarter worth approximately $35,000. D Orazio & Associates Inc. purchased a new position in CVS Health in the 2nd quarter worth approximately $36,000. Smith Asset Management Group LP purchased a new position in CVS Health in the 2nd quarter worth approximately $38,000. Finally, Meridian Wealth Partners LLC increased its stake in CVS Health by 53.1% in the 1st quarter. Meridian Wealth Partners LLC now owns 614 shares of the pharmacy operator’s stock worth $47,000 after acquiring an additional 213 shares during the last quarter. 75.94% of the stock is currently owned by institutional investors.

In related news, EVP Troyen A. Brennan sold 2,625 shares of the company’s stock in a transaction on Thursday, September 2nd. The stock was sold at an average price of $87.00, for a total transaction of $228,375.00. Following the completion of the sale, the executive vice president now directly owns 140,201 shares in the company, valued at approximately $12,197,487. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Alan Lotvin sold 2,781 shares of the company’s stock in a transaction on Monday, June 28th. The stock was sold at an average price of $83.67, for a total value of $232,686.27. Following the sale, the executive vice president now owns 61,048 shares of the company’s stock, valued at $5,107,886.16. The disclosure for this sale can be found here. 0.69% of the stock is currently owned by corporate insiders.

CVS has been the topic of a number of research reports. Tigress Financial reaffirmed a “buy” rating and issued a $108.00 price objective on shares of CVS Health in a research note on Friday, July 23rd. BMO Capital Markets lifted their price objective on CVS Health from $90.00 to $96.00 and gave the stock a “market perform” rating in a research note on Wednesday, May 19th. Barclays lifted their price objective on CVS Health from $92.00 to $100.00 and gave the stock an “overweight” rating in a research note on Wednesday, May 19th. Deutsche Bank Aktiengesellschaft lifted their price objective on CVS Health from $95.00 to $101.00 and gave the stock a “buy” rating in a research note on Thursday, August 5th. Finally, Morgan Stanley boosted their target price on CVS Health from $99.00 to $114.00 and gave the company an “overweight” rating in a research report on Tuesday, August 31st. Four analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, CVS Health currently has a consensus rating of “Buy” and an average target price of $94.89.

CVS traded up $1.07 during trading hours on Wednesday, reaching $84.96. 174,620 shares of the company’s stock traded hands, compared to its average volume of 6,445,591. The firm has a 50-day moving average price of $83.62 and a 200 day moving average price of $81.03. CVS Health Co. has a 52-week low of $55.36 and a 52-week high of $90.61. The company has a quick ratio of 0.67, a current ratio of 0.95 and a debt-to-equity ratio of 0.81. The firm has a market capitalization of $112.11 billion, a PE ratio of 15.39, a PEG ratio of 1.68 and a beta of 0.83.

CVS Health (NYSE:CVS) last issued its earnings results on Tuesday, August 3rd. The pharmacy operator reported $2.42 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $2.07 by $0.35. CVS Health had a return on equity of 13.81% and a net margin of 2.59%. The business had revenue of $72.62 billion during the quarter, compared to analysts’ expectations of $70.27 billion. During the same period in the prior year, the business earned $2.62 EPS. The business’s revenue for the quarter was up 11.1% compared to the same quarter last year. Equities analysts predict that CVS Health Co. will post 7.84 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which was paid on Monday, August 2nd. Shareholders of record on Friday, July 23rd were issued a $0.50 dividend. This represents a $2.00 annualized dividend and a dividend yield of 2.35%. The ex-dividend date of this dividend was Thursday, July 22nd. CVS Health’s dividend payout ratio is 26.67%.

CVS Health Profile

CVS Health Corp. engages in the provision of health care services. It operates through the following segments: Pharmacy Services, Retail or Long Term Care, Health Care Benefits, and Corporate/Other. The Pharmacy Services segment offers pharmacy benefit management solutions. The Retail or Long Term Care segment includes selling of prescription drugs and assortment of general merchandise.

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Institutional Ownership by Quarter for CVS Health (NYSE:CVS)

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