Stoneridge Investment Partners LLC reduced its position in shares of CVS Health Corp (NYSE:CVS) by 12.8% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 37,433 shares of the pharmacy operator’s stock after selling 5,498 shares during the period. Stoneridge Investment Partners LLC’s holdings in CVS Health were worth $3,044,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Fieldpoint Private Securities LLC increased 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 buying an additional 1,000 shares in the last quarter. Arcadia Investment Management Corp MI increased its holdings in CVS Health by 119.6% in the third quarter. Arcadia Investment Management Corp MI now owns 1,333 shares of the pharmacy operator’s stock valued at $108,000 after buying an additional 726 shares in the last quarter. MPS Loria Financial Planners LLC purchased a new position in CVS Health in the second quarter valued at about $119,000. Gemmer Asset Management LLC increased its holdings in CVS Health by 15.3% in the second quarter. Gemmer Asset Management LLC now owns 1,509 shares of the pharmacy operator’s stock valued at $121,000 after buying an additional 200 shares in the last quarter. Finally, Captrust Financial Advisors purchased a new position in CVS Health in the second quarter valued at about $155,000. 81.62% of the stock is owned by hedge funds and other institutional investors.
In related news, EVP Lisa Bisaccia sold 29,445 shares of the firm’s stock in a transaction that occurred on Thursday, December 21st. The shares were sold at an average price of $75.00, for a total transaction of $2,208,375.00. Following the sale, the executive vice president now owns 15,556 shares in the company, valued at $1,166,700. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.61% of the stock is currently owned by company insiders.
A number of research analysts have issued reports on CVS shares. Jefferies Group set a $76.00 target price on shares of CVS Health and gave the company a “hold” rating in a report on Monday, December 4th. Royal Bank of Canada started coverage on shares of CVS Health in a report on Tuesday, September 19th. They issued an “outperform” rating and a $95.00 target price for the company. Vetr cut shares of CVS Health from a “buy” rating to a “hold” rating and set a $77.11 target price for the company. in a report on Thursday, January 4th. Robert W. Baird reaffirmed a “hold” rating and issued a $77.00 target price on shares of CVS Health in a report on Friday, October 27th. Finally, UBS Group raised shares of CVS Health from an “outperform” rating to a “strong-buy” rating in a report on Thursday, January 4th. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating, twelve have issued a buy rating and two have given a strong buy rating to the stock. CVS Health currently has an average rating of “Buy” and a consensus price target of $86.66.
Shares of CVS Health Corp (NYSE:CVS) opened at $77.69 on Wednesday. The company has a market cap of $78,700.00, a P/E ratio of 16.05, a PEG ratio of 1.38 and a beta of 0.90. CVS Health Corp has a 1 year low of $66.45 and a 1 year high of $84.72. The company has a debt-to-equity ratio of 0.67, a current ratio of 1.05 and a quick ratio of 0.55.
CVS Health (NYSE:CVS) last released its quarterly earnings results on Monday, November 6th. The pharmacy operator reported $1.50 EPS for the quarter, beating the consensus estimate of $1.49 by $0.01. CVS Health had a net margin of 2.77% and a return on equity of 16.96%. The business had revenue of $46.18 billion for the quarter, compared to analyst estimates of $46.17 billion. During the same period in the prior year, the business earned $1.64 earnings per share. The company’s quarterly revenue was up 3.5% on a year-over-year basis. sell-side analysts predict that CVS Health Corp will post 5.9 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Friday, February 2nd. Investors of record on Wednesday, January 24th will be given a dividend of $0.50 per share. The ex-dividend date of this dividend is Tuesday, January 23rd. This represents a $2.00 dividend on an annualized basis and a yield of 2.57%. CVS Health’s dividend payout ratio (DPR) is currently 41.32%.
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CVS Health Profile
CVS Health Corporation, together with its subsidiaries, is an integrated pharmacy healthcare company. The Company provides pharmacy care for the senior community through Omnicare, Inc (Omnicare) and Omnicare’s long-term care (LTC) operations, which include distribution of pharmaceuticals, related pharmacy consulting and other ancillary services to chronic care facilities and other care settings.
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