DDD Partners LLC grew its stake in shares of CVS Health (NYSE:CVS) by 2.5% in the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 131,080 shares of the pharmacy operator’s stock after acquiring an additional 3,248 shares during the period. CVS Health comprises approximately 3.3% of DDD Partners LLC’s investment portfolio, making the stock its 12th biggest holding. DDD Partners LLC’s holdings in CVS Health were worth $8,154,000 at the end of the most recent reporting period.
Several other institutional investors also recently bought and sold shares of the company. Arrowstreet Capital Limited Partnership raised its stake in CVS Health by 7,225.3% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 6,871,164 shares of the pharmacy operator’s stock worth $498,159,000 after buying an additional 6,777,364 shares in the last quarter. American International Group Inc. raised its stake in CVS Health by 1,342.0% in the fourth quarter. American International Group Inc. now owns 7,081,461 shares of the pharmacy operator’s stock worth $513,406,000 after buying an additional 6,590,370 shares in the last quarter. Truepoint Inc. raised its stake in CVS Health by 8,578.9% in the third quarter. Truepoint Inc. now owns 3,757,530 shares of the pharmacy operator’s stock worth $3,758,000 after buying an additional 3,714,235 shares in the last quarter. Old Mutual Global Investors UK Ltd. bought a new position in CVS Health in the fourth quarter worth approximately $211,243,000. Finally, The Manufacturers Life Insurance Company raised its stake in CVS Health by 149.8% in the fourth quarter. The Manufacturers Life Insurance Company now owns 4,818,244 shares of the pharmacy operator’s stock worth $349,322,000 after buying an additional 2,889,561 shares in the last quarter. 83.34% of the stock is owned by hedge funds and other institutional investors.
A number of equities analysts recently commented on CVS shares. Bank of America reduced their price objective on shares of CVS Health from $91.00 to $88.00 and set a “buy” rating for the company in a research note on Wednesday, April 11th. Leerink Swann set a $85.00 price objective on shares of CVS Health and gave the stock a “buy” rating in a research note on Tuesday, April 10th. Needham & Company LLC set a $98.00 price objective on shares of CVS Health and gave the stock a “buy” rating in a research note on Friday, February 9th. Royal Bank of Canada set a $89.00 price objective on shares of CVS Health and gave the stock a “buy” rating in a research note on Thursday, February 8th. Finally, Mizuho set a $95.00 price target on shares of CVS Health and gave the stock a “buy” rating in a report on Wednesday, January 24th. Three investment analysts have rated the stock with a sell rating, six have issued a hold rating, eleven have given a buy rating and two have given a strong buy rating to the company’s stock. CVS Health currently has a consensus rating of “Buy” and a consensus target price of $86.27.
NYSE CVS opened at $64.92 on Monday. The company has a debt-to-equity ratio of 1.59, a quick ratio of 1.88 and a current ratio of 2.37. CVS Health has a 12-month low of $60.14 and a 12-month high of $84.00. The firm has a market capitalization of $66.00 billion, a price-to-earnings ratio of 10.42, a PEG ratio of 0.97 and a beta of 1.02.
CVS Health (NYSE:CVS) last announced its quarterly earnings data on Wednesday, May 2nd. The pharmacy operator reported $1.48 earnings per share for the quarter, beating analysts’ consensus estimates of $1.39 by $0.09. The firm had revenue of $45.69 billion for the quarter, compared to analyst estimates of $45.77 billion. CVS Health had a net margin of 3.59% and a return on equity of 17.45%. The business’s quarterly revenue was up 2.6% compared to the same quarter last year. During the same period in the previous year, the company earned $1.17 earnings per share. sell-side analysts anticipate that CVS Health will post 6.99 EPS for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Thursday, May 3rd. Stockholders of record on Monday, April 23rd were issued a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a dividend yield of 3.08%. The ex-dividend date was Friday, April 20th. CVS Health’s dividend payout ratio (DPR) is presently 33.90%.
In related news, Director C David Brown II acquired 10,000 shares of the company’s stock in a transaction dated Friday, May 4th. The shares were purchased at an average cost of $61.99 per share, with a total value of $619,900.00. Following the completion of the acquisition, the director now directly owns 101,252 shares of the company’s stock, valued at $6,276,611.48. The acquisition was disclosed in a filing with the SEC, which can be accessed through this link. 0.53% of the stock is owned by insiders.
CVS Health Company 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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