Fernwood Investment Management LLC trimmed its stake in CVS Health Corp (NYSE:CVS) by 3.3% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 46,873 shares of the pharmacy operator’s stock after selling 1,600 shares during the period. CVS Health makes up 1.8% of Fernwood Investment Management LLC’s investment portfolio, making the stock its 9th largest holding. Fernwood Investment Management LLC’s holdings in CVS Health were worth $3,398,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other hedge funds and other institutional investors also recently bought and sold shares of the stock. Vanguard Group Inc. grew its position in shares of CVS Health by 1.4% in the 2nd quarter. Vanguard Group Inc. now owns 76,557,597 shares of the pharmacy operator’s stock valued at $6,159,825,000 after buying an additional 1,056,265 shares during the last quarter. FMR LLC grew its position in shares of CVS Health by 22.0% in the 2nd 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. Northern Trust Corp grew its position in shares of CVS Health by 5.5% in the 2nd quarter. Northern Trust Corp now owns 15,618,081 shares of the pharmacy operator’s stock valued at $1,256,631,000 after buying an additional 807,639 shares during the last quarter. Nordea Investment Management AB grew its position in shares of CVS Health by 8.4% in 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 buying an additional 1,100,373 shares during the last quarter. Finally, Dimensional Fund Advisors LP grew its position in shares of CVS Health by 4.1% in the 3rd quarter. Dimensional Fund Advisors LP now owns 10,856,659 shares of the pharmacy operator’s stock valued at $882,860,000 after buying an additional 430,377 shares during the last quarter. 83.96% of the stock is currently owned by hedge funds and other institutional investors.
A number of research analysts recently commented on the stock. ValuEngine downgraded shares of CVS Health from a “buy” rating to a “hold” rating in a research report on Sunday, December 31st. Vetr downgraded shares of CVS Health from a “buy” rating to a “hold” rating and set a $77.11 price objective on the stock. in a research report on Thursday, January 4th. SunTrust Banks raised their price objective on shares of CVS Health to $90.00 and gave the stock a “buy” rating in a research report on Friday, January 5th. Morgan Stanley raised shares of CVS Health from an “equal weight” rating to an “overweight” rating and set a $88.00 price objective on the stock in a research report on Friday, January 5th. Finally, Robert W. Baird set a $77.00 price objective on shares of CVS Health and gave the stock a “hold” rating in a research report on Monday, December 4th. Two research analysts have rated the stock with a sell rating, seven have given a hold rating, twelve have assigned a buy rating and two have assigned a strong buy rating to the stock. The company presently has an average rating of “Buy” and an average target price of $87.03.
Shares of CVS stock opened at $60.86 on Friday. The firm has a market cap of $62,687.93, a PE ratio of 10.44, a PEG ratio of 1.01 and a beta of 1.03. 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 Corp has a fifty-two week low of $60.78 and a fifty-two week high of $84.00.
CVS Health (NYSE:CVS) last issued its earnings results on Thursday, February 8th. The pharmacy operator reported $1.92 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.88 by $0.04. The business had revenue of $48.39 billion for the quarter, compared to the consensus estimate of $47.54 billion. CVS Health had a net margin of 3.58% and a return on equity of 17.21%. The business’s quarterly revenue was up 5.3% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.71 earnings per share. sell-side analysts expect that CVS Health Corp will post 6.37 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Thursday, May 3rd. Stockholders of record on Monday, April 23rd will be issued a $0.50 dividend. This represents a $2.00 annualized dividend and a dividend yield of 3.29%. The ex-dividend date is Friday, April 20th. CVS Health’s payout ratio is 30.91%.
In other news, EVP Helena Foulkes sold 19,965 shares of CVS Health 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 sale, 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 legal filing with the SEC, which can be accessed through this hyperlink. 0.61% of the stock is owned by insiders.
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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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