Rockland Trust Co. lifted its holdings in CVS Health Corp (NYSE:CVS) by 2.7% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 172,241 shares of the pharmacy operator’s stock after acquiring an additional 4,533 shares during the period. CVS Health accounts for about 2.1% of Rockland Trust Co.’s portfolio, making the stock its 14th biggest holding. Rockland Trust Co.’s holdings in CVS Health were worth $14,007,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also added to or reduced their stakes in the company. FMR LLC boosted its stake in CVS Health by 22.0% during the second quarter. FMR LLC now owns 30,150,634 shares of the pharmacy operator’s stock valued at $2,425,920,000 after buying an additional 5,446,930 shares during the last quarter. Boston Partners boosted its stake in CVS Health by 69.1% during the second quarter. Boston Partners now owns 6,459,237 shares of the pharmacy operator’s stock valued at $519,711,000 after buying an additional 2,638,888 shares during the last quarter. Parametric Portfolio Associates LLC boosted its stake in CVS Health by 71.5% during the second quarter. Parametric Portfolio Associates LLC now owns 3,949,854 shares of the pharmacy operator’s stock valued at $317,805,000 after buying an additional 1,647,168 shares during the last quarter. Prudential Financial Inc. boosted its stake in CVS Health by 61.8% during the second quarter. Prudential Financial Inc. now owns 2,946,531 shares of the pharmacy operator’s stock valued at $237,078,000 after buying an additional 1,125,400 shares during the last quarter. Finally, Nordea Investment Management AB boosted its stake in CVS Health by 8.4% during the second quarter. Nordea Investment Management AB now owns 14,154,922 shares of the pharmacy operator’s stock valued at $1,138,905,000 after buying an additional 1,100,373 shares during the last quarter. 81.64% of the stock is owned by hedge funds and other institutional investors.
Shares of CVS Health Corp (NYSE CVS) traded down $1.50 during mid-day trading on Wednesday, reaching $78.69. The company’s stock had a trading volume of 12,471,656 shares, compared to its average volume of 8,500,000. CVS Health Corp has a fifty-two week low of $66.45 and a fifty-two week high of $84.00. The company has a debt-to-equity ratio of 0.67, a quick ratio of 0.55 and a current ratio of 1.05. The stock has a market capitalization of $79,710.00, a P/E ratio of 16.26, a PEG ratio of 1.31 and a beta of 0.90.
CVS Health (NYSE:CVS) last issued its quarterly earnings data on Monday, November 6th. The pharmacy operator reported $1.50 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.49 by $0.01. CVS Health had a return on equity of 16.96% and a net margin of 2.77%. The business had revenue of $46.18 billion for the quarter, compared to the consensus estimate of $46.17 billion. During the same period in the prior year, the business posted $1.64 earnings per share. The company’s quarterly revenue was up 3.5% compared to the same quarter last year. equities research analysts expect that CVS Health Corp will post 5.88 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, February 2nd. Stockholders of record on Wednesday, January 24th will be issued a $0.50 dividend. The ex-dividend date of this dividend is Tuesday, January 23rd. This represents a $2.00 annualized dividend and a dividend yield of 2.54%. CVS Health’s payout ratio is 41.32%.
In other 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 value of $2,208,375.00. Following the sale, the executive vice president now directly owns 15,556 shares in the company, valued at $1,166,700. The sale was disclosed in a document filed with the SEC, which is available at this link. Corporate insiders own 0.61% of the company’s stock.
A number of equities analysts recently commented on CVS shares. SunTrust Banks set a $85.00 price target on CVS Health and gave the company a “buy” rating in a research note on Thursday, October 12th. Mizuho set a $90.00 price target on CVS Health and gave the company a “buy” rating in a research note on Tuesday, October 24th. Cowen set a $86.00 price target on CVS Health and gave the company a “buy” rating in a research note on Sunday, October 29th. Oppenheimer reissued a “buy” rating and set a $95.00 price target on shares of CVS Health in a research note on Monday, October 9th. Finally, Needham & Company LLC raised CVS Health from a “hold” rating to a “buy” rating and increased their price target for the company from $69.02 to $79.00 in a research note on Friday, November 10th. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating, eleven have assigned a buy rating and three have issued a strong buy rating to the company. The stock presently has an average rating of “Buy” and an average target price of $88.06.
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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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