Sun Life Financial INC Sells 5,270 Shares of CVS Health (CVS)

Sun Life Financial INC decreased its stake in shares of CVS Health (NYSE:CVS) by 70.4% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 2,218 shares of the pharmacy operator’s stock after selling 5,270 shares during the period. Sun Life Financial INC’s holdings in CVS Health were worth $161,000 at the end of the most recent reporting period.

Several other hedge funds have also bought and sold shares of CVS. Wealthcare Advisory Partners LLC boosted its holdings in shares of CVS Health by 330.3% during the third quarter. Wealthcare Advisory Partners LLC now owns 1,291 shares of the pharmacy operator’s stock worth $105,000 after purchasing an additional 991 shares during the last quarter. Fieldpoint Private Securities LLC boosted its holdings in CVS Health by 333.3% in the second quarter. Fieldpoint Private Securities LLC now owns 1,300 shares of the pharmacy operator’s stock valued at $105,000 after acquiring an additional 1,000 shares during the last quarter. Cerebellum GP LLC acquired a new position in CVS Health in the fourth quarter valued at $130,000. Capital Analysts LLC boosted its holdings in CVS Health by 240.1% in the fourth quarter. Capital Analysts LLC now owns 3,177 shares of the pharmacy operator’s stock valued at $137,000 after acquiring an additional 2,243 shares during the last quarter. Finally, Valeo Financial Advisors LLC acquired a new position in CVS Health in the third quarter valued at $159,000. Institutional investors and hedge funds own 84.01% of the company’s stock.

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In other CVS Health news, EVP Helena Foulkes sold 19,965 shares of the business’s stock in a transaction dated Friday, February 16th. The stock was sold at an average price of $71.04, for a total transaction of $1,418,313.60. Following the transaction, the executive vice president now owns 65,072 shares in the company, valued at $4,622,714.88. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Insiders own 0.61% of the company’s stock.

CVS has been the topic of a number of research analyst reports. Needham & Company LLC upgraded CVS Health from a “buy” rating to a “strong-buy” rating and lifted their target price for the company from $88.00 to $100.00 in a report on Tuesday, January 30th. Bank of America initiated coverage on CVS Health in a report on Tuesday, February 27th. They issued a “buy” rating and a $91.00 target price on the stock. Raymond James upgraded CVS Health from an “outperform” rating to a “strong-buy” rating and set a $90.00 target price on the stock in a report on Thursday, January 4th. They noted that the move was a valuation call. Citigroup set a $77.00 target price on CVS Health and gave the company a “neutral” rating in a report on Tuesday, February 13th. Finally, ValuEngine cut CVS Health from a “buy” rating to a “hold” rating in a report on Friday, February 2nd. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating, twelve have assigned a buy rating and two have assigned a strong buy rating to the stock. The company currently has a consensus rating of “Buy” and an average price target of $86.65.

Shares of CVS opened at $65.68 on Tuesday. The stock has a market cap of $66,066.33, a price-to-earnings ratio of 11.13, a P/E/G ratio of 1.11 and a beta of 1.05. CVS Health has a 12 month low of $60.14 and a 12 month high of $84.00. The company has a debt-to-equity ratio of 0.59, a quick ratio of 0.52 and a current ratio of 1.02.

CVS Health (NYSE:CVS) last issued its quarterly earnings data on Thursday, February 8th. The pharmacy operator reported $1.92 EPS for the quarter, topping the Zacks’ consensus estimate of $1.88 by $0.04. The company had revenue of $48.39 billion for the quarter, compared to analysts’ expectations of $47.54 billion. CVS Health had a return on equity of 17.21% and a net margin of 3.58%. The firm’s quarterly revenue was up 5.3% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.71 earnings per share. equities research analysts predict that CVS Health will post 6.32 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, May 3rd. Shareholders of record on Monday, April 23rd will be paid a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a dividend yield of 3.05%. The ex-dividend date is Friday, April 20th. CVS Health’s dividend payout ratio is presently 33.90%.

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CVS Health Profile

CVS Health Corporation, together with its subsidiaries, provides integrated pharmacy health care services. It operates through Pharmacy Services and Retail/LTC segments. The Pharmacy Services segment offers pharmacy benefit management solutions, such as plan design and administration, formulary management, Medicare Part D services, mail order, specialty pharmacy and infusion services, retail pharmacy network management services, prescription management systems, clinical services, disease management programs, and medical pharmacy management services.

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

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