LSV Asset Management decreased its stake in CVS Health Corp (NYSE:CVS) by 46.5% during the 1st quarter, Holdings Channel reports. The fund owned 455,600 shares of the pharmacy operator’s stock after selling 396,257 shares during the period. LSV Asset Management’s holdings in CVS Health were worth $28,342,000 as of its most recent filing with the Securities and Exchange Commission.
Several other institutional investors also recently made changes to their positions in CVS. BlackRock Inc. boosted its stake in CVS Health by 3.8% during the fourth quarter. BlackRock Inc. now owns 66,996,510 shares of the pharmacy operator’s stock worth $4,857,249,000 after buying an additional 2,430,476 shares in the last quarter. Geode Capital Management LLC boosted its stake in CVS Health by 2.2% during the fourth quarter. Geode Capital Management LLC now owns 10,868,331 shares of the pharmacy operator’s stock worth $786,322,000 after buying an additional 235,357 shares in the last quarter. Dimensional Fund Advisors LP boosted its stake in CVS Health by 4.1% during the third quarter. Dimensional Fund Advisors LP now owns 10,856,659 shares of the pharmacy operator’s stock worth $882,860,000 after buying an additional 430,377 shares in the last quarter. Bank of New York Mellon Corp boosted its stake in CVS Health by 1.2% during the fourth quarter. Bank of New York Mellon Corp now owns 10,705,490 shares of the pharmacy operator’s stock worth $776,147,000 after buying an additional 126,183 shares in the last quarter. Finally, Macquarie Group Ltd. boosted its stake in CVS Health by 4.7% during the fourth quarter. Macquarie Group Ltd. now owns 9,219,365 shares of the pharmacy operator’s stock worth $668,688,000 after buying an additional 414,086 shares in the last quarter. Institutional investors and hedge funds own 83.34% of the company’s stock.
CVS Health stock opened at $65.12 on Friday. The company has a debt-to-equity ratio of 1.59, a current ratio of 2.37 and a quick ratio of 1.88. CVS Health Corp has a 12-month low of $60.14 and a 12-month high of $84.00. The stock has a market capitalization of $66.66 billion, a P/E ratio of 11.04, a price-to-earnings-growth ratio of 0.98 and a beta of 1.02.
CVS Health (NYSE:CVS) last released its quarterly earnings results on Wednesday, May 2nd. The pharmacy operator reported $1.48 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.39 by $0.09. CVS Health had a return on equity of 17.45% and a net margin of 3.59%. The business had revenue of $45.69 billion during the quarter, compared to analysts’ expectations of $45.77 billion. During the same period in the previous year, the business posted $1.17 earnings per share. The firm’s revenue for the quarter was up 2.6% compared to the same quarter last year. sell-side analysts predict that CVS Health Corp will post 6.99 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Thursday, May 3rd. Investors of record on Monday, April 23rd were issued a $0.50 dividend. The ex-dividend date was Friday, April 20th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 3.07%. CVS Health’s dividend payout ratio is 33.90%.
In other CVS Health news, Director C David Brown II purchased 10,000 shares of the business’s stock in a transaction that occurred on Friday, May 4th. The stock was acquired 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 approximately $6,276,611.48. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.53% of the company’s stock.
A number of equities research analysts have weighed in on CVS shares. Needham & Company LLC upgraded shares of CVS Health from a “buy” rating to a “strong-buy” rating and lifted their price target for the stock from $88.00 to $100.00 in a research note on Tuesday, January 30th. ValuEngine cut CVS Health from a “buy” rating to a “hold” rating in a report on Friday, February 2nd. Royal Bank of Canada set a $89.00 price objective on CVS Health and gave the company a “buy” rating in a report on Thursday, February 8th. Robert W. Baird cut their price objective on CVS Health from $85.00 to $80.00 and set a “neutral” rating for the company in a report on Friday, February 9th. Finally, Leerink Swann set a $85.00 price objective on CVS Health and gave the company a “buy” rating in a report on Friday, February 9th. Three analysts have rated the stock with a sell rating, six have issued a hold rating, eleven have given a buy rating and two have issued a strong buy rating to the stock. CVS Health presently has a consensus rating of “Buy” and a consensus target price of $86.27.
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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