Mengis Capital Management Inc. Trims Stock Position in CVS Health Co. (NYSE:CVS)

Mengis Capital Management Inc. cut its stake in shares of CVS Health Co. (NYSE:CVS) by 48.2% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 24,030 shares of the pharmacy operator’s stock after selling 22,359 shares during the period. Mengis Capital Management Inc.’s holdings in CVS Health were worth $1,079,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in CVS. MidAtlantic Capital Management Inc. purchased a new stake in CVS Health during the 3rd quarter valued at approximately $25,000. Ridgewood Investments LLC raised its stake in CVS Health by 255.7% during the 4th quarter. Ridgewood Investments LLC now owns 626 shares of the pharmacy operator’s stock valued at $28,000 after acquiring an additional 450 shares during the last quarter. Stonebridge Financial Group LLC purchased a new position in shares of CVS Health during the 4th quarter worth approximately $28,000. Legacy Investment Solutions LLC purchased a new position in shares of CVS Health during the 3rd quarter worth approximately $31,000. Finally, Reston Wealth Management LLC purchased a new position in shares of CVS Health during the 3rd quarter worth approximately $32,000. 80.66% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at CVS Health

In other CVS Health news, Director Michael F. Mahoney acquired 30,000 shares of the firm’s stock in a transaction dated Tuesday, February 18th. The shares were acquired at an average price of $66.70 per share, for a total transaction of $2,001,000.00. Following the completion of the acquisition, the director now directly owns 39,356 shares of the company’s stock, valued at $2,625,045.20. This trade represents a 320.65 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Insiders own 0.24% of the company’s stock.

CVS Health Price Performance

Shares of NYSE:CVS opened at $62.95 on Tuesday. The business’s fifty day moving average price is $52.72 and its two-hundred day moving average price is $56.25. The stock has a market cap of $79.37 billion, a PE ratio of 17.20, a price-to-earnings-growth ratio of 0.98 and a beta of 0.61. 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 Co. has a one year low of $43.56 and a one year high of $80.75.

CVS Health (NYSE:CVS) last announced its earnings results on Wednesday, February 12th. The pharmacy operator reported $1.19 EPS for the quarter, beating 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%. On average, analysts forecast that CVS Health Co. will post 5.89 EPS for the current fiscal year.

CVS Health Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, February 3rd. Stockholders of record on Thursday, January 23rd were issued a dividend of $0.665 per share. This represents a $2.66 annualized dividend and a dividend yield of 4.23%. The ex-dividend date was Thursday, January 23rd. CVS Health’s dividend payout ratio (DPR) is 72.68%.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on CVS. Leerink Partnrs raised CVS Health from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, February 12th. TD Cowen increased their target price on CVS Health from $73.00 to $80.00 and gave the stock a “buy” rating in a research note on Monday, November 25th. Edward Jones raised CVS Health from a “hold” rating to a “buy” rating in a research note on Thursday, January 30th. Wolfe Research increased their target price on CVS Health from 67.00 to 70.00 and gave the stock an “overweight” rating in a research note on Tuesday, February 11th. Finally, StockNews.com upgraded CVS Health from a “sell” rating to a “hold” rating in a report on Thursday, February 13th. Four analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, CVS Health currently has an average rating of “Moderate Buy” and a consensus target price of $70.00.

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.