Kovack Advisors Inc. purchased a new stake in CVS Health Corp (NYSE:CVS) in the 4th quarter, according to its most recent filing with the SEC. The institutional investor purchased 14,182 shares of the pharmacy operator’s stock, valued at approximately $1,028,000.
A number of other hedge funds and other institutional investors also recently made changes to their positions in CVS. Fieldpoint Private Securities LLC grew its stake in shares of CVS Health by 333.3% during the second quarter. Fieldpoint Private Securities LLC now owns 1,300 shares of the pharmacy operator’s stock valued at $105,000 after acquiring an additional 1,000 shares in the last quarter. Wealthcare Advisory Partners LLC grew its stake in shares of CVS Health by 330.3% during the third quarter. Wealthcare Advisory Partners LLC now owns 1,291 shares of the pharmacy operator’s stock valued at $105,000 after acquiring an additional 991 shares in the last quarter. Arcadia Investment Management Corp MI grew its stake in shares of CVS Health by 119.6% during the third quarter. Arcadia Investment Management Corp MI now owns 1,333 shares of the pharmacy operator’s stock valued at $108,000 after acquiring an additional 726 shares in the last quarter. MPS Loria Financial Planners LLC acquired a new stake in shares of CVS Health during the second quarter valued at about $119,000. Finally, Cerebellum GP LLC acquired a new stake in shares of CVS Health during the fourth quarter valued at about $130,000. Hedge funds and other institutional investors own 84.12% of the company’s stock.
CVS Health Corp (NYSE:CVS) opened at $65.65 on Friday. The company has a debt-to-equity ratio of 0.59, a quick ratio of 0.52 and a current ratio of 1.02. CVS Health Corp has a 12-month low of $65.65 and a 12-month high of $84.00. The company has a market cap of $66,817.08, a PE ratio of 10.15, a PEG ratio of 1.09 and a beta of 1.03.
CVS Health (NYSE:CVS) last issued its quarterly earnings results on Thursday, February 8th. The pharmacy operator reported $1.92 EPS for the quarter, topping the consensus estimate of $1.88 by $0.04. CVS Health had a net margin of 3.58% and a return on equity of 17.21%. The business had revenue of $48.39 billion for the quarter, compared to analysts’ expectations of $47.54 billion. During the same quarter last year, the company posted $1.71 earnings per share. The company’s quarterly revenue was up 5.3% compared to the same quarter last year. research analysts forecast that CVS Health Corp will post 6.37 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, May 3rd. Shareholders of record on Monday, April 23rd will be issued a $0.50 dividend. The ex-dividend date is Friday, April 20th. This represents a $2.00 dividend on an annualized basis and a yield of 3.05%. CVS Health’s dividend payout ratio is currently 30.91%.
In other CVS Health news, EVP Helena Foulkes sold 19,965 shares of the firm’s stock in a transaction dated Friday, February 16th. The shares were sold at an average price of $71.04, for a total value of $1,418,313.60. Following the transaction, the executive vice president now owns 65,072 shares of the company’s stock, valued at $4,622,714.88. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Lisa Bisaccia sold 29,445 shares of the firm’s stock in a transaction dated 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 transaction, the executive vice president now directly owns 15,556 shares in the company, valued at approximately $1,166,700. The disclosure for this sale can be found here. Company insiders own 0.61% of the company’s stock.
Several analysts have recently weighed in on the company. Needham & Company LLC set a $98.00 target price on CVS Health and gave the company a “buy” rating in a research note on Friday, February 9th. ValuEngine downgraded CVS Health from a “buy” rating to a “hold” rating in a research note on Sunday, December 31st. Leerink Swann set a $85.00 target price on CVS Health and gave the company a “buy” rating in a research note on Friday, February 9th. Loop Capital set a $73.00 target price on CVS Health and gave the company a “hold” rating in a research note on Monday, December 4th. Finally, Deutsche Bank restated a “hold” rating on shares of CVS Health in a research note on Tuesday, December 5th. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating, twelve have assigned a buy rating and two have given a strong buy rating to the company. The company presently has an average rating of “Buy” and an average price target of $87.03.
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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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