Foundry Partners LLC boosted its position in CVS Health Corp (NYSE:CVS) by 6.7% in the 3rd quarter, according to its most recent filing with the SEC. The firm owned 281,601 shares of the pharmacy operator’s stock after acquiring an additional 17,601 shares during the period. CVS Health comprises approximately 0.8% of Foundry Partners LLC’s holdings, making the stock its 14th biggest holding. Foundry Partners LLC’s holdings in CVS Health were worth $22,168,000 at the end of the most recent quarter.
A number of other hedge funds have also recently added to or reduced their stakes in the business. Rothschild Investment Corp IL lifted its holdings in shares of CVS Health by 2.2% during the 3rd quarter. Rothschild Investment Corp IL now owns 146,192 shares of the pharmacy operator’s stock valued at $11,508,000 after acquiring an additional 3,077 shares in the last quarter. Independence Bank of Kentucky lifted its holdings in shares of CVS Health by 200.2% during the 3rd quarter. Independence Bank of Kentucky now owns 7,865 shares of the pharmacy operator’s stock valued at $619,000 after acquiring an additional 5,245 shares in the last quarter. Eqis Capital Management Inc. lifted its holdings in shares of CVS Health by 18.4% during the 3rd quarter. Eqis Capital Management Inc. now owns 61,088 shares of the pharmacy operator’s stock valued at $4,521,000 after acquiring an additional 9,492 shares in the last quarter. Intercontinental Wealth Advisors LLC acquired a new position in shares of CVS Health during the 3rd quarter valued at $238,000. Finally, GHP Investment Advisors Inc. lifted its holdings in shares of CVS Health by 22.9% during the 3rd quarter. GHP Investment Advisors Inc. now owns 17,143 shares of the pharmacy operator’s stock valued at $1,349,000 after acquiring an additional 3,193 shares in the last quarter. 82.88% of the stock is owned by hedge funds and other institutional investors.
In other CVS Health news, EVP Eva C. Boratto sold 13,311 shares of the business’s stock in a transaction on Monday, September 17th. The shares were sold at an average price of $77.16, for a total value of $1,027,076.76. Following the transaction, the executive vice president now owns 55,162 shares in the company, valued at approximately $4,256,299.92. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Lisa Bisaccia sold 21,534 shares of the business’s stock in a transaction on Monday, October 1st. The stock was sold at an average price of $80.00, for a total transaction of $1,722,720.00. The disclosure for this sale can be found here. Insiders sold a total of 43,409 shares of company stock worth $3,392,097 in the last quarter. 0.53% of the stock is currently owned by company insiders.
Shares of CVS stock opened at $74.18 on Friday. CVS Health Corp has a 12 month low of $60.14 and a 12 month high of $83.88. The company has a current ratio of 2.34, a quick ratio of 1.87 and a debt-to-equity ratio of 1.73. The firm has a market capitalization of $75.88 billion, a price-to-earnings ratio of 11.31, a PEG ratio of 0.99 and a beta of 1.02.
CVS Health (NYSE:CVS) last issued its quarterly earnings data on Wednesday, August 8th. The pharmacy operator reported $1.69 EPS for the quarter, topping analysts’ consensus estimates of $1.61 by $0.08. CVS Health had a net margin of 1.61% and a return on equity of 18.25%. The firm had revenue of $46.71 billion for the quarter, compared to analyst estimates of $46.34 billion. During the same quarter in the previous year, the business posted $1.33 EPS. The firm’s revenue was up 2.2% compared to the same quarter last year. Sell-side analysts forecast that CVS Health Corp will post 7.05 EPS for the current fiscal 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 issued a $0.50 dividend. The ex-dividend date is Tuesday, October 23rd. This represents a $2.00 dividend on an annualized basis and a yield of 2.70%. CVS Health’s dividend payout ratio is currently 33.90%.
Several equities analysts recently weighed in on the stock. Royal Bank of Canada restated a “buy” rating and set a $90.00 target price on shares of CVS Health in a report on Wednesday, August 8th. Leerink Swann set a $80.00 target price on shares of CVS Health and gave the company an “outperform” rating in a report on Thursday, August 9th. Morgan Stanley reduced their target price on shares of CVS Health from $88.00 to $80.00 and set an “overweight” rating on the stock in a report on Tuesday, July 3rd. Mizuho restated a “buy” rating on shares of CVS Health in a report on Saturday, June 30th. Finally, ValuEngine upgraded shares of CVS Health from a “sell” rating to a “hold” rating in a report on Thursday, October 11th. One analyst has rated the stock with a sell rating, five have given a hold rating, ten have given a buy rating and two have assigned a strong buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus target price of $86.31.
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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