Manning & Napier Advisors LLC lessened its stake in shares of CVS Health Corp (NYSE:CVS) by 47.2% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 156,712 shares of the pharmacy operator’s stock after selling 139,815 shares during the quarter. Manning & Napier Advisors LLC’s holdings in CVS Health were worth $12,743,000 at the end of the most recent reporting period.
Several other institutional investors have also bought and sold shares of the company. Narwhal Capital Management raised its stake in CVS Health by 96.9% in the 2nd quarter. Narwhal Capital Management now owns 32,070 shares of the pharmacy operator’s stock worth $2,580,000 after acquiring an additional 15,780 shares during the last quarter. Pennsylvania Trust Co raised its stake in shares of CVS Health by 38.4% during the 2nd quarter. Pennsylvania Trust Co now owns 173,995 shares of the pharmacy operator’s stock valued at $14,000,000 after buying an additional 48,265 shares during the last quarter. Stokes & Hubbell Capital Management LLC purchased a new position in shares of CVS Health during the 2nd quarter valued at about $2,492,000. NN Investment Partners Holdings N.V. raised its stake in shares of CVS Health by 141.2% during the 2nd quarter. NN Investment Partners Holdings N.V. now owns 1,427,210 shares of the pharmacy operator’s stock valued at $114,832,000 after buying an additional 835,476 shares during the last quarter. Finally, Bank of The West raised its stake in shares of CVS Health by 3.3% during the 2nd quarter. Bank of The West now owns 85,739 shares of the pharmacy operator’s stock valued at $6,899,000 after buying an additional 2,732 shares during the last quarter. 80.81% of the stock is owned by hedge funds and other institutional investors.
CVS has been the subject of a number of recent research reports. Jefferies Group set a $76.00 target price on CVS Health and gave the company a “hold” rating in a research report on Monday, December 4th. Robert W. Baird lowered their price objective on CVS Health from $85.00 to $80.00 and set a “neutral” rating on the stock in a report on Friday. ValuEngine cut CVS Health from a “buy” rating to a “hold” rating in a report on Friday, February 2nd. Vetr cut CVS Health from a “buy” rating to a “hold” rating and set a $77.11 target price on the stock. in a report on Thursday, January 4th. Finally, Royal Bank of Canada set a $95.00 target price on CVS Health and gave the stock a “buy” rating in a report on Monday, December 4th. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating, twelve have assigned a buy rating and two have assigned a strong buy rating to the company. The stock has a consensus rating of “Buy” and a consensus target price of $87.77.
In other CVS Health news, EVP Lisa Bisaccia sold 29,445 shares of the stock in a transaction dated Thursday, December 21st. The shares were sold at an average price of $75.00, for a total value of $2,208,375.00. Following the completion of the transaction, the executive vice president now directly owns 15,556 shares of the company’s stock, valued at $1,166,700. The sale was disclosed in a filing with the SEC, which is available at this link. Company insiders own 0.61% of the company’s stock.
Shares of CVS Health Corp (NYSE CVS) traded up $0.54 during trading hours on Monday, hitting $69.87. 8,940,000 shares of the stock were exchanged, compared to its average volume of 9,100,000. The stock has a market capitalization of $70,780.00, a PE ratio of 11.84, a price-to-earnings-growth ratio of 1.16 and a beta of 0.92. CVS Health Corp has a 1-year low of $66.45 and a 1-year high of $84.00. The company has a quick ratio of 0.52, a current ratio of 1.02 and a debt-to-equity ratio of 0.59.
CVS Health (NYSE:CVS) last posted its quarterly earnings results on Thursday, February 8th. The pharmacy operator reported $1.92 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.88 by $0.04. The firm had revenue of $48.39 billion during the quarter, compared to analysts’ expectations of $47.54 billion. CVS Health had a net margin of 3.58% and a return on equity of 17.21%. The firm’s revenue for the quarter was up 5.3% on a year-over-year basis. During the same period in the prior year, the company posted $1.71 earnings per share. equities research analysts forecast that CVS Health Corp will post 6.47 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Friday, February 2nd. Shareholders of record on Wednesday, January 24th were issued a $0.50 dividend. The ex-dividend date of this dividend was Tuesday, January 23rd. This represents a $2.00 dividend on an annualized basis and a yield of 2.86%. CVS Health’s dividend payout ratio (DPR) is presently 33.90%.
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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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