Parsons Capital Management Inc. RI decreased its stake in CVS Health Corp (NYSE:CVS) by 3.1% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 76,817 shares of the pharmacy operator’s stock after selling 2,460 shares during the quarter. Parsons Capital Management Inc. RI’s holdings in CVS Health were worth $6,247,000 as of its most recent SEC filing.
Other institutional investors and hedge funds also recently modified their holdings of the company. Stack Financial Management Inc raised its holdings in shares of CVS Health by 0.9% during the third quarter. Stack Financial Management Inc now owns 276,543 shares of the pharmacy operator’s stock valued at $22,488,000 after acquiring an additional 2,431 shares during the last quarter. Raymond James Financial Services Advisors Inc. increased its holdings in shares of CVS Health by 8.2% in the third quarter. Raymond James Financial Services Advisors Inc. now owns 454,349 shares of the pharmacy operator’s stock valued at $36,948,000 after purchasing an additional 34,546 shares during the last quarter. Hemenway Trust Co LLC increased its holdings in shares of CVS Health by 1.5% in the third quarter. Hemenway Trust Co LLC now owns 156,214 shares of the pharmacy operator’s stock valued at $12,703,000 after purchasing an additional 2,351 shares during the last quarter. First Business Financial Services Inc. increased its holdings in shares of CVS Health by 12.8% in the third quarter. First Business Financial Services Inc. now owns 7,329 shares of the pharmacy operator’s stock valued at $596,000 after purchasing an additional 834 shares during the last quarter. Finally, Eagle Ridge Investment Management increased its holdings in shares of CVS Health by 7.7% in the third quarter. Eagle Ridge Investment Management now owns 193,712 shares of the pharmacy operator’s stock valued at $15,753,000 after purchasing an additional 13,865 shares during the last quarter. Hedge funds and other institutional investors own 81.62% of the company’s stock.
Several equities research analysts recently commented on the company. Royal Bank of Canada assumed coverage on CVS Health in a report on Tuesday, September 19th. They issued an “outperform” rating and a $95.00 price target for the company. Leerink Swann raised their target price on CVS Health from $82.00 to $90.00 and gave the stock an “outperform” rating in a research note on Monday, January 8th. Oppenheimer reissued a “buy” rating and set a $95.00 target price on shares of CVS Health in a research note on Monday, October 9th. Mizuho set a $90.00 target price on CVS Health and gave the stock a “buy” rating in a research note on Tuesday, October 24th. Finally, Vetr cut CVS Health from a “buy” rating to a “hold” rating and set a $77.11 target price for the company. in a research note on Thursday, January 4th. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating, twelve have issued a buy rating and two have given a strong buy rating to the stock. CVS Health has an average rating of “Buy” and a consensus price target of $86.66.
Shares of CVS Health Corp (NYSE:CVS) opened at $78.78 on Friday. The company has a current ratio of 1.05, a quick ratio of 0.55 and a debt-to-equity ratio of 0.67. CVS Health Corp has a 52-week low of $66.45 and a 52-week high of $84.72. The company has a market capitalization of $79,800.00, a PE ratio of 16.28, a PEG ratio of 1.25 and a beta of 0.90.
CVS Health (NYSE:CVS) last issued its quarterly earnings results on Monday, November 6th. The pharmacy operator reported $1.50 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.49 by $0.01. The firm had revenue of $46.18 billion for 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%. The firm’s revenue for the quarter was up 3.5% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.64 EPS. research analysts forecast that CVS Health Corp will post 5.89 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, February 2nd. Shareholders of record on Wednesday, January 24th will be issued a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a yield of 2.54%. The ex-dividend date is Tuesday, January 23rd. CVS Health’s dividend payout ratio is presently 41.32%.
In other CVS Health news, EVP Lisa Bisaccia sold 29,445 shares of CVS Health stock in a transaction that occurred on Thursday, December 21st. The stock was sold at an average price of $75.00, for a total value of $2,208,375.00. Following the sale, the executive vice president now owns 15,556 shares of the company’s stock, valued at approximately $1,166,700. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 0.61% of the stock is currently owned by insiders.
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CVS Health Company 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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