Lipe & Dalton increased its stake in shares of CVS Health Corp (NYSE:CVS) by 6.8% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 46,421 shares of the pharmacy operator’s stock after buying an additional 2,950 shares during the period. CVS Health accounts for approximately 2.7% of Lipe & Dalton’s holdings, making the stock its 17th biggest holding. Lipe & Dalton’s holdings in CVS Health were worth $3,775,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. FMR LLC lifted its position in CVS Health by 22.0% during the 2nd quarter. FMR LLC now owns 30,150,634 shares of the pharmacy operator’s stock valued at $2,425,920,000 after purchasing an additional 5,446,930 shares during the period. Boston Partners lifted its position in CVS Health by 69.1% during the 2nd quarter. Boston Partners now owns 6,459,237 shares of the pharmacy operator’s stock valued at $519,711,000 after purchasing an additional 2,638,888 shares during the period. Parametric Portfolio Associates LLC lifted its position in CVS Health by 71.5% during the 2nd quarter. Parametric Portfolio Associates LLC now owns 3,949,854 shares of the pharmacy operator’s stock valued at $317,805,000 after purchasing an additional 1,647,168 shares during the period. Prudential Financial Inc. lifted its position in CVS Health by 61.8% during the 2nd quarter. Prudential Financial Inc. now owns 2,946,531 shares of the pharmacy operator’s stock valued at $237,078,000 after purchasing an additional 1,125,400 shares during the period. Finally, Nordea Investment Management AB lifted its position in CVS Health by 8.4% during the 2nd quarter. Nordea Investment Management AB now owns 14,154,922 shares of the pharmacy operator’s stock valued at $1,138,905,000 after purchasing an additional 1,100,373 shares during the period. Institutional investors and hedge funds own 81.62% of the company’s stock.
In related news, EVP Lisa Bisaccia sold 29,445 shares of the stock in a transaction that occurred on Thursday, December 21st. The stock was sold at an average price of $75.00, for a total transaction of $2,208,375.00. Following the completion of the sale, the executive vice president now directly owns 15,556 shares of the company’s stock, valued at approximately $1,166,700. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 0.61% of the stock is currently owned by corporate insiders.
Shares of CVS Health Corp (CVS) opened at $78.78 on Friday. The company has a debt-to-equity ratio of 0.67, a current ratio of 1.05 and a quick ratio of 0.55. The company has a market capitalization of $79,803.51, a PE ratio of 16.28, a PEG ratio of 1.25 and a beta of 0.90. CVS Health Corp has a 52 week low of $66.45 and a 52 week high of $84.72.
CVS Health (NYSE:CVS) last announced its quarterly earnings results on Monday, November 6th. The pharmacy operator reported $1.50 EPS for the quarter, beating analysts’ consensus estimates of $1.49 by $0.01. The company had revenue of $46.18 billion during the quarter, compared to analysts’ expectations of $46.17 billion. CVS Health had a return on equity of 16.96% and a net margin of 2.77%. CVS Health’s revenue was up 3.5% on a year-over-year basis. During the same period in the prior year, the business posted $1.64 EPS. sell-side analysts predict that CVS Health Corp will post 5.89 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, February 2nd. Investors of record on Wednesday, January 24th will be paid a dividend of $0.50 per share. The ex-dividend date is Tuesday, January 23rd. This represents a $2.00 dividend on an annualized basis and a yield of 2.54%. CVS Health’s payout ratio is 41.32%.
A number of research analysts have issued reports on CVS shares. Oppenheimer restated a “buy” rating and set a $95.00 target price on shares of CVS Health in a research report on Monday, October 9th. SunTrust Banks set a $85.00 target price on shares of CVS Health and gave the company a “buy” rating in a research report on Thursday, October 12th. Mizuho set a $90.00 target price on shares of CVS Health and gave the company a “buy” rating in a research report on Tuesday, October 24th. Cowen set a $86.00 target price on shares of CVS Health and gave the company a “buy” rating in a research report on Sunday, October 29th. Finally, Needham & Company LLC upgraded shares of CVS Health from a “hold” rating to a “buy” rating and upped their target price for the company from $69.02 to $79.00 in a research report on Friday, November 10th. One research analyst has rated the stock with a sell rating, nine have issued a hold rating, twelve have given a buy rating and two have assigned a strong buy rating to the company’s stock. CVS Health currently has a consensus rating of “Buy” and an average price target of $86.66.
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About CVS Health
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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