LFA Lugano Financial Advisors SA raised its position in shares of CVS Health Corp (NYSE:CVS) by 48.8% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,090 shares of the pharmacy operator’s stock after purchasing an additional 1,341 shares during the period. LFA Lugano Financial Advisors SA’s holdings in CVS Health were worth $322,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds have also recently bought and sold shares of CVS. Adviser Investments LLC increased its holdings in shares of CVS Health by 43.3% during the 2nd quarter. Adviser Investments LLC now owns 2,993 shares of the pharmacy operator’s stock valued at $193,000 after acquiring an additional 905 shares during the last quarter. Keystone Financial Planning Inc. grew its holdings in CVS Health by 44.5% in the 2nd quarter. Keystone Financial Planning Inc. now owns 59,038 shares of the pharmacy operator’s stock valued at $3,799,000 after buying an additional 18,176 shares during the last quarter. Schwab Charles Investment Management Inc. grew its holdings in CVS Health by 4.3% in the 2nd quarter. Schwab Charles Investment Management Inc. now owns 7,332,665 shares of the pharmacy operator’s stock valued at $471,857,000 after buying an additional 300,887 shares during the last quarter. Waddell & Reed Financial Inc. grew its holdings in CVS Health by 21.5% in the 2nd quarter. Waddell & Reed Financial Inc. now owns 993,394 shares of the pharmacy operator’s stock valued at $63,925,000 after buying an additional 175,725 shares during the last quarter. Finally, Point View Wealth Management Inc. grew its holdings in CVS Health by 8.4% in the 2nd quarter. Point View Wealth Management Inc. now owns 17,095 shares of the pharmacy operator’s stock valued at $1,100,000 after buying an additional 1,320 shares during the last quarter. 82.75% of the stock is owned by institutional investors.
Shares of CVS stock opened at $74.58 on Friday. The company has a quick ratio of 1.87, a current ratio of 2.34 and a debt-to-equity ratio of 1.73. CVS Health Corp has a 12 month low of $60.14 and a 12 month high of $83.88. The company has a market capitalization of $80.14 billion, a price-to-earnings ratio of 12.64, a PEG ratio of 1.05 and a beta of 1.02.
CVS Health (NYSE:CVS) last announced its quarterly earnings data on Wednesday, August 8th. The pharmacy operator reported $1.69 EPS for the quarter, topping the Zacks’ consensus estimate of $1.61 by $0.08. CVS Health had a return on equity of 18.25% and a net margin of 1.61%. The company had revenue of $46.71 billion during the quarter, compared to the consensus estimate of $46.34 billion. During the same quarter last year, the company earned $1.33 EPS. The company’s quarterly revenue was up 2.2% on a year-over-year basis. On average, equities research analysts forecast that CVS Health Corp will post 7.05 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, November 1st. Shareholders of record on Wednesday, October 24th will be given a $0.50 dividend. The ex-dividend date of this dividend is Tuesday, October 23rd. This represents a $2.00 dividend on an annualized basis and a dividend yield of 2.68%. CVS Health’s dividend payout ratio is currently 33.90%.
In other CVS Health news, EVP Lisa Bisaccia sold 21,534 shares of the firm’s stock in a transaction that occurred on Monday, October 1st. The stock was sold at an average price of $80.00, for a total value of $1,722,720.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Kevin Hourican sold 8,564 shares of the firm’s stock in a transaction that occurred on Monday, August 27th. The stock was sold at an average price of $75.00, for a total value of $642,300.00. Following the completion of the sale, the executive vice president now owns 12,135 shares of the company’s stock, valued at approximately $910,125. The disclosure for this sale can be found here. Insiders sold a total of 43,409 shares of company stock valued at $3,392,097 in the last quarter. Corporate insiders own 0.53% of the company’s stock.
A number of analysts have issued reports on the company. ValuEngine raised CVS Health from a “sell” rating to a “hold” rating in a report on Thursday. Royal Bank of Canada raised their target price on CVS Health to $101.00 and gave the company an “outperform” rating in a report on Tuesday, September 18th. Bank of America raised their target price on CVS Health from $86.00 to $90.00 and gave the company a “buy” rating in a report on Monday, September 17th. Leerink Swann set a $80.00 target price on CVS Health and gave the company an “outperform” rating in a report on Thursday, August 9th. Finally, Citigroup reaffirmed a “buy” rating and issued a $81.00 target price on shares of CVS Health in a report on Monday, July 9th. One investment analyst has rated the stock with a sell rating, five have given a hold rating, ten have assigned a buy rating and two have issued a strong buy rating to the stock. CVS Health currently has a consensus rating of “Buy” and an average target price of $86.31.
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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