MetLife Investment Management LLC Sells 7,788 Shares of CVS Health Co. (NYSE:CVS)

MetLife Investment Management LLC lessened its stake in CVS Health Co. (NYSE:CVS) by 2.3% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 327,170 shares of the pharmacy operator’s stock after selling 7,788 shares during the quarter. MetLife Investment Management LLC’s holdings in CVS Health were worth $20,572,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. Janus Henderson Group PLC raised its stake in CVS Health by 2.5% during the first quarter. Janus Henderson Group PLC now owns 177,372 shares of the pharmacy operator’s stock worth $14,143,000 after acquiring an additional 4,318 shares in the last quarter. Atria Investments Inc increased its holdings in shares of CVS Health by 1.3% during the first quarter. Atria Investments Inc now owns 97,348 shares of the pharmacy operator’s stock worth $7,764,000 after buying an additional 1,292 shares in the last quarter. Community Trust & Investment Co. boosted its holdings in shares of CVS Health by 1.3% during the 1st quarter. Community Trust & Investment Co. now owns 255,849 shares of the pharmacy operator’s stock valued at $20,407,000 after acquiring an additional 3,325 shares in the last quarter. Cetera Investment Advisers raised its position in CVS Health by 190.9% in the first quarter. Cetera Investment Advisers now owns 407,844 shares of the pharmacy operator’s stock valued at $32,530,000 after purchasing an additional 267,664 shares during the last quarter. Finally, Cetera Advisors LLC grew its holdings in shares of CVS Health by 13.3% during the first quarter. Cetera Advisors LLC now owns 123,884 shares of the pharmacy operator’s stock worth $9,881,000 after purchasing an additional 14,551 shares during the last quarter. 80.66% of the stock is owned by institutional investors.

CVS Health Trading Up 1.6 %

Shares of CVS opened at $59.96 on Thursday. The business’s 50-day moving average price is $59.30 and its 200-day moving average price is $58.72. The company has a quick ratio of 0.59, a current ratio of 0.80 and a debt-to-equity ratio of 0.80. The stock has a market cap of $75.45 billion, a PE ratio of 15.22, a P/E/G ratio of 1.01 and a beta of 0.55. CVS Health Co. has a twelve month low of $52.71 and a twelve month high of $83.25.

CVS Health (NYSE:CVS) last issued its quarterly earnings results on Wednesday, November 6th. The pharmacy operator reported $1.09 EPS for the quarter, topping analysts’ consensus estimates of $1.08 by $0.01. The firm had revenue of $95.43 billion for the quarter, compared to analyst estimates of $92.72 billion. CVS Health had a net margin of 1.36% and a return on equity of 10.72%. The business’s revenue for the quarter was up 6.3% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $2.21 EPS. On average, equities analysts forecast that CVS Health Co. will post 5.43 EPS for the current fiscal year.

CVS Health Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, November 1st. Shareholders of record on Monday, October 21st were given a $0.665 dividend. The ex-dividend date of this dividend was Monday, October 21st. This represents a $2.66 annualized dividend and a yield of 4.44%. CVS Health’s payout ratio is currently 67.51%.

Analyst Ratings Changes

Several equities analysts have issued reports on CVS shares. UBS Group upped their price target on shares of CVS Health from $60.00 to $62.00 and gave the company a “neutral” rating in a research report on Thursday, November 7th. Deutsche Bank Aktiengesellschaft decreased their price target on CVS Health from $64.00 to $63.00 and set a “hold” rating for the company in a report on Friday, August 9th. Barclays cut their price target on CVS Health from $75.00 to $71.00 and set an “overweight” rating on the stock in a report on Thursday, November 7th. Evercore ISI upped their target price on CVS Health from $62.00 to $75.00 and gave the stock an “outperform” rating in a research report on Tuesday, October 8th. Finally, Wells Fargo & Company raised shares of CVS Health from an “equal weight” rating to an “overweight” rating and lifted their price target for the company from $60.00 to $66.00 in a research report on Monday, November 18th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and thirteen have given a buy rating to the company. According to MarketBeat.com, CVS Health presently has a consensus rating of “Moderate Buy” and a consensus target price of $70.33.

CVS Health 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.