Traynor Capital Management Inc. decreased its position in shares of CVS Health (NYSE:CVS) by 20.3% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 3,081 shares of the pharmacy operator’s stock after selling 783 shares during the period. Traynor Capital Management Inc.’s holdings in CVS Health were worth $223,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Howland Capital Management LLC lifted its position in shares of CVS Health by 4.2% during the 4th quarter. Howland Capital Management LLC now owns 211,851 shares of the pharmacy operator’s stock worth $15,359,000 after purchasing an additional 8,449 shares during the last quarter. Selway Asset Management lifted its position in shares of CVS Health by 4.1% during the 4th quarter. Selway Asset Management now owns 50,978 shares of the pharmacy operator’s stock worth $3,696,000 after purchasing an additional 2,000 shares during the last quarter. Cullen Frost Bankers Inc. increased its stake in CVS Health by 2.4% during the fourth quarter. Cullen Frost Bankers Inc. now owns 43,804 shares of the pharmacy operator’s stock valued at $3,176,000 after acquiring an additional 1,046 shares during the period. Canal Insurance CO increased its stake in CVS Health by 23.5% during the fourth quarter. Canal Insurance CO now owns 52,500 shares of the pharmacy operator’s stock valued at $3,806,000 after acquiring an additional 10,000 shares during the period. Finally, Mutual of America Capital Management LLC increased its stake in CVS Health by 1.3% during the fourth quarter. Mutual of America Capital Management LLC now owns 125,342 shares of the pharmacy operator’s stock valued at $9,087,000 after acquiring an additional 1,642 shares during the period. 83.97% of the stock is owned by hedge funds and other institutional investors.
In other CVS Health news, EVP Helena Foulkes sold 19,965 shares of the firm’s stock in a transaction that occurred on Friday, February 16th. The shares were sold at an average price of $71.04, for a total transaction of $1,418,313.60. Following the completion of the sale, the executive vice president now directly owns 65,072 shares in the company, valued at $4,622,714.88. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 0.61% of the company’s stock.
Several equities analysts recently issued reports on the company. Needham & Company LLC upgraded CVS Health from a “buy” rating to a “strong-buy” rating and boosted their price target for the company from $88.00 to $100.00 in a research note on Tuesday, January 30th. Mizuho set a $95.00 price objective on CVS Health and gave the company a “buy” rating in a research note on Wednesday, January 24th. Cowen reissued an “outperform” rating and issued a $99.00 target price (up from $81.00) on shares of CVS Health in a report on Thursday, January 18th. Vetr downgraded CVS Health from a “hold” rating to a “sell” rating and set a $76.66 target price on the stock. in a report on Tuesday, January 16th. Finally, ValuEngine downgraded CVS Health from a “buy” rating to a “hold” rating in a report on Friday, February 2nd. Two 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 stock. CVS Health presently has an average rating of “Buy” and a consensus price target of $86.81.
Shares of NYSE CVS traded down $1.28 during mid-day trading on Friday, hitting $63.38. The company had a trading volume of 5,114,814 shares, compared to its average volume of 7,846,283. CVS Health has a one year low of $60.14 and a one year high of $84.00. The stock has a market capitalization of $65,599.64, a price-to-earnings ratio of 10.74, a PEG ratio of 1.07 and a beta of 1.05. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.02 and a quick ratio of 0.52.
CVS Health (NYSE:CVS) last issued its earnings results on Thursday, February 8th. The pharmacy operator reported $1.92 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.88 by $0.04. The business had revenue of $48.39 billion during 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%. CVS Health’s revenue was up 5.3% on a year-over-year basis. During the same period last year, the business posted $1.71 EPS. sell-side analysts expect that CVS Health will post 6.33 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, May 3rd. Shareholders of record on Monday, April 23rd will be given a dividend of $0.50 per share. The ex-dividend date of this dividend is Friday, April 20th. This represents a $2.00 annualized dividend and a yield of 3.16%. CVS Health’s dividend payout ratio (DPR) is presently 33.90%.
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CVS Health Profile
CVS Health Corporation, together with its subsidiaries, provides integrated pharmacy health care services. It operates through Pharmacy Services and Retail/LTC segments. The Pharmacy Services segment offers pharmacy benefit management solutions, such as plan design and administration, formulary management, Medicare Part D services, mail order, specialty pharmacy and infusion services, retail pharmacy network management services, prescription management systems, clinical services, disease management programs, and medical pharmacy management services.
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