Eagle Asset Management Inc. increased its position in shares of CVS Health (NYSE:CVS) by 191.0% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 69,150 shares of the pharmacy operator’s stock after buying an additional 45,389 shares during the period. Eagle Asset Management Inc.’s holdings in CVS Health were worth $5,110,000 as of its most recent filing with the SEC.
Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Ausdal Financial Partners Inc. lifted its holdings in CVS Health by 23.0% during the fourth quarter. Ausdal Financial Partners Inc. now owns 4,407 shares of the pharmacy operator’s stock valued at $320,000 after purchasing an additional 823 shares in the last quarter. Point View Wealth Management Inc. lifted its holdings in CVS Health by 5.1% during the fourth quarter. Point View Wealth Management Inc. now owns 16,743 shares of the pharmacy operator’s stock valued at $1,214,000 after purchasing an additional 817 shares in the last quarter. Independence Bank of Kentucky purchased a new position in CVS Health during the fourth quarter valued at $288,000. Advisory Services Network LLC lifted its holdings in CVS Health by 59.5% during the fourth quarter. Advisory Services Network LLC now owns 24,816 shares of the pharmacy operator’s stock valued at $1,799,000 after purchasing an additional 9,257 shares in the last quarter. Finally, Global X Management Co. LLC lifted its holdings in CVS Health by 16.3% during the fourth quarter. Global X Management Co. LLC now owns 15,472 shares of the pharmacy operator’s stock valued at $1,122,000 after purchasing an additional 2,171 shares in the last quarter. 83.97% of the stock is currently owned by hedge funds and other institutional investors.
In related 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 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 transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 0.61% of the stock is currently owned by company insiders.
Several equities analysts have issued reports on CVS shares. Robert W. Baird decreased their price objective on shares of CVS Health from $85.00 to $80.00 and set a “neutral” rating on the stock in a report on Friday, February 9th. ValuEngine downgraded shares of CVS Health from a “buy” rating to a “hold” rating in a report on Friday, February 2nd. Vetr cut shares of CVS Health from a “buy” rating to a “hold” rating and set a $77.11 target price for the company. in a research report on Thursday, January 4th. UBS upgraded shares of CVS Health from an “outperform” rating to a “strong-buy” rating in a research report on Thursday, January 4th. Finally, Needham & Company LLC upgraded shares of CVS Health from a “buy” rating to a “strong-buy” rating and increased their target price for the company from $88.00 to $100.00 in a research report on Tuesday, January 30th. Two 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 stock. The stock has an average rating of “Buy” and an average target price of $86.81.
CVS Health stock opened at $63.38 on Monday. CVS Health has a 12-month low of $60.14 and a 12-month high of $84.00. The stock has a market cap of $64,301.04, a P/E ratio of 10.74, a PEG ratio of 1.05 and a beta of 1.05. 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 released its quarterly earnings data on Thursday, February 8th. The pharmacy operator reported $1.92 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ 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 firm had revenue of $48.39 billion during the quarter, compared to analysts’ expectations of $47.54 billion. During the same period last year, the business earned $1.71 earnings per share. CVS Health’s revenue was up 5.3% compared to the same quarter last year. equities research analysts predict that CVS Health will post 6.33 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, May 3rd. Investors of record on Monday, April 23rd will be given a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a yield of 3.16%. The ex-dividend date is Friday, April 20th. CVS Health’s payout ratio is currently 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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