Mengis Capital Management Inc. Has $4.15 Million Stock Holdings in CVS Health Co. (NYSE:CVS)

Mengis Capital Management Inc. lowered its position in CVS Health Co. (NYSE:CVSFree Report) by 1.0% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 59,424 shares of the pharmacy operator’s stock after selling 573 shares during the quarter. CVS Health makes up approximately 0.9% of Mengis Capital Management Inc.’s portfolio, making the stock its 25th biggest position. Mengis Capital Management Inc.’s holdings in CVS Health were worth $4,149,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. Live Oak Investment Partners bought a new stake in shares of CVS Health in the 4th quarter worth $25,000. Cornerstone Planning Group LLC raised its position in shares of CVS Health by 111.5% in the 3rd quarter. Cornerstone Planning Group LLC now owns 461 shares of the pharmacy operator’s stock worth $32,000 after acquiring an additional 243 shares in the last quarter. True Wealth Design LLC acquired a new stake in shares of CVS Health in the 4th quarter worth $48,000. PCA Investment Advisory Services Inc. acquired a new position in shares of CVS Health in the 2nd quarter valued at $37,000. Finally, Northwest Capital Management Inc purchased a new position in CVS Health in the 2nd quarter valued at about $44,000. 75.99% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of analysts have weighed in on the company. TheStreet upgraded CVS Health from a “c” rating to a “b-” rating in a research note on Wednesday, November 1st. Morgan Stanley cut their price target on CVS Health from $110.00 to $100.00 and set an “overweight” rating for the company in a report on Thursday, November 2nd. Cantor Fitzgerald reissued an “overweight” rating and issued a $87.00 price target on shares of CVS Health in a report on Thursday. HSBC assumed coverage on CVS Health in a research note on Friday, December 22nd. They issued a “buy” rating and a $94.00 target price for the company. Finally, StockNews.com downgraded CVS Health from a “buy” rating to a “hold” rating in a research report on Thursday, February 1st. Three investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $90.11.

View Our Latest Report on CVS

CVS Health Trading Up 1.3 %

Shares of NYSE:CVS traded up $0.97 on Monday, hitting $77.29. The company had a trading volume of 11,186,836 shares, compared to its average volume of 13,852,402. CVS Health Co. has a 1 year low of $64.41 and a 1 year high of $90.57. The firm’s 50-day simple moving average is $76.02 and its two-hundred day simple moving average is $71.99. The company has a quick ratio of 0.63, a current ratio of 0.86 and a debt-to-equity ratio of 0.77. The firm has a market capitalization of $97.27 billion, a price-to-earnings ratio of 11.81, a P/E/G ratio of 1.74 and a beta of 0.50.

CVS Health (NYSE:CVSGet Free Report) last released its earnings results on Wednesday, February 7th. The pharmacy operator reported $2.12 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.01 by $0.11. CVS Health had a net margin of 2.33% and a return on equity of 15.25%. The company had revenue of $93.81 billion during the quarter, compared to analyst estimates of $90.58 billion. During the same period in the prior year, the firm posted $1.99 EPS. The firm’s quarterly revenue was up 11.9% compared to the same quarter last year. Equities analysts anticipate that CVS Health Co. will post 8.38 earnings per share for the current fiscal year.

CVS Health Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, February 1st. Investors of record on Monday, January 22nd were paid a $0.665 dividend. This is a positive change from CVS Health’s previous quarterly dividend of $0.61. The ex-dividend date of this dividend was Friday, January 19th. This represents a $2.66 dividend on an annualized basis and a yield of 3.44%. CVS Health’s dividend payout ratio (DPR) is 41.18%.

CVS Health Company Profile

(Free Report)

CVS Health Corporation provides health services in the United States. It operates through Health Care Benefits, Pharmacy Services, and Retail/LTC segments. The Health Care Benefits segment offers traditional, voluntary, and consumer-directed health insurance products and related services. It serves employer groups, individuals, college students, part-time and hourly workers, health plans, health care providers, governmental units, government-sponsored plans, labor groups, and expatriates.

Read More

Want to see what other hedge funds are holding CVS? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for CVS Health Co. (NYSE:CVSFree Report).

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

Receive News & Ratings for CVS Health Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for CVS Health and related companies with MarketBeat.com's FREE daily email newsletter.