Everett Harris & Co. CA acquired a new stake in CVS Health Corp (NYSE:CVS) during the second quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 9,941 shares of the pharmacy operator’s stock, valued at approximately $646,000.
A number of other hedge funds have also recently added to or reduced their stakes in CVS. New England Investment & Retirement Group Inc. acquired a new stake in CVS Health during the first quarter worth approximately $25,000. PrairieView Partners LLC bought a new position in shares of CVS Health during the 1st quarter worth approximately $29,000. Marquette Asset Management LLC grew its position in shares of CVS Health by 148.9% during the 1st quarter. Marquette Asset Management LLC now owns 560 shares of the pharmacy operator’s stock worth $33,000 after buying an additional 335 shares during the period. Nelson Van Denburg & Campbell Wealth Management Group LLC increased its stake in shares of CVS Health by 327.3% in the 1st quarter. Nelson Van Denburg & Campbell Wealth Management Group LLC now owns 594 shares of the pharmacy operator’s stock valued at $35,000 after acquiring an additional 455 shares in the last quarter. Finally, Exchange Traded Concepts LLC acquired a new position in shares of CVS Health during the 2nd quarter valued at $41,000. Institutional investors and hedge funds own 76.04% of the company’s stock.
Several brokerages have recently weighed in on CVS. Tigress Financial reiterated a “buy” rating on shares of CVS Health in a report on Friday, April 24th. Oppenheimer reiterated a “hold” rating on shares of CVS Health in a report on Wednesday, May 6th. Credit Suisse Group upgraded CVS Health from a “neutral” rating to an “outperform” rating and set a $75.00 target price for the company in a research report on Thursday, May 14th. They noted that the move was a valuation call. SVB Leerink assumed coverage on CVS Health in a report on Wednesday, July 1st. They issued a “market perform” rating and a $72.00 price target on the stock. Finally, SunTrust Banks dropped their price target on CVS Health from $90.00 to $80.00 and set a “buy” rating for the company in a research report on Monday, April 13th. One research analyst has rated the stock with a sell rating, three have given a hold rating, fourteen have assigned a buy rating and two have assigned a strong buy rating to the company. The stock currently has an average rating of “Buy” and a consensus target price of $80.35.
CVS Health (NYSE:CVS) last issued its earnings results on Wednesday, May 6th. The pharmacy operator reported $1.91 earnings per share for the quarter, beating the consensus estimate of $1.63 by $0.28. The company had revenue of $66.76 billion during the quarter, compared to analysts’ expectations of $64.11 billion. CVS Health had a return on equity of 15.17% and a net margin of 2.76%. CVS Health’s quarterly revenue was up 8.3% compared to the same quarter last year. During the same period in the prior year, the business posted $1.62 EPS. Equities analysts expect that CVS Health Corp will post 7.12 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Monday, August 3rd. Stockholders of record on Thursday, July 23rd will be issued a $0.50 dividend. This represents a $2.00 annualized dividend and a dividend yield of 3.18%. The ex-dividend date of this dividend is Wednesday, July 22nd. CVS Health’s dividend payout ratio is 28.25%.
In other news, EVP Alan Lotvin purchased 5,000 shares of the company’s stock in a transaction on Monday, May 11th. The stock was acquired at an average price of $63.14 per share, with a total value of $315,700.00. Following the transaction, the executive vice president now directly owns 15,161 shares of the company’s stock, valued at approximately $957,265.54. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 0.46% of the company’s stock.
CVS Health Company Profile
CVS Health Corporation provides health services and plans in the United States. Its Pharmacy Services segment offers pharmacy benefit management solutions, such as plan design and administration, formulary management, retail pharmacy network management, mail order pharmacy, specialty pharmacy and infusion, Medicare Part D, clinical, disease management, and medical spend management services.
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