Randolph Co Inc raised its holdings in shares of CVS Health Corp (NYSE:CVS) by 48.4% during the 3rd quarter, Holdings Channel reports. The firm owned 279,395 shares of the pharmacy operator’s stock after acquiring an additional 91,100 shares during the quarter. CVS Health accounts for approximately 3.7% of Randolph Co Inc’s investment portfolio, making the stock its 10th biggest position. Randolph Co Inc’s holdings in CVS Health were worth $21,994,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also modified their holdings of the business. Capital City Trust Co. FL raised its holdings in CVS Health by 5.7% in the 3rd quarter. Capital City Trust Co. FL now owns 22,123 shares of the pharmacy operator’s stock worth $1,741,000 after purchasing an additional 1,193 shares during the period. Deltec Asset Management LLC raised its holdings in CVS Health by 156.3% in the 3rd quarter. Deltec Asset Management LLC now owns 41,000 shares of the pharmacy operator’s stock worth $3,228,000 after purchasing an additional 25,000 shares during the period. Aperio Group LLC raised its holdings in CVS Health by 7.3% in the 3rd quarter. Aperio Group LLC now owns 674,073 shares of the pharmacy operator’s stock worth $53,063,000 after purchasing an additional 45,859 shares during the period. Foundry Partners LLC raised its holdings in CVS Health by 6.7% in the 3rd quarter. Foundry Partners LLC now owns 281,601 shares of the pharmacy operator’s stock worth $22,168,000 after purchasing an additional 17,601 shares during the period. Finally, Rothschild Investment Corp IL raised its holdings in CVS Health by 2.2% in the 3rd quarter. Rothschild Investment Corp IL now owns 146,192 shares of the pharmacy operator’s stock worth $11,508,000 after purchasing an additional 3,077 shares during the period. Institutional investors and hedge funds own 82.88% of the company’s stock.
A number of equities analysts recently commented on the company. ValuEngine raised CVS Health from a “sell” rating to a “hold” rating in a report on Thursday, October 11th. Royal Bank of Canada raised their target price on CVS Health to $101.00 and gave the stock 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 stock a “buy” rating in a report on Monday, September 17th. Leerink Swann set a $80.00 target price on CVS Health and gave the stock 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 research analyst has rated the stock with a sell rating, five have issued a hold rating, ten have assigned a buy rating and two have given a strong buy rating to the company. CVS Health currently has a consensus rating of “Buy” and an average price target of $86.31.
Shares of CVS stock opened at $74.18 on Friday. CVS Health Corp has a 52-week low of $60.14 and a 52-week high of $83.88. The company has a quick ratio of 1.87, a current ratio of 2.34 and a debt-to-equity ratio of 1.73. The firm has a market capitalization of $75.52 billion, a price-to-earnings ratio of 11.26, a price-to-earnings-growth ratio of 0.99 and a beta of 1.02.
CVS Health (NYSE:CVS) last issued its quarterly earnings results on Wednesday, August 8th. The pharmacy operator reported $1.69 earnings per share (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 business had revenue of $46.71 billion during the quarter, compared to analyst estimates of $46.34 billion. During the same quarter in the prior year, the business posted $1.33 EPS. CVS Health’s revenue for the quarter was up 2.2% compared to the same quarter last year. Analysts expect that CVS Health Corp will post 7.05 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, November 1st. Shareholders of record on Wednesday, October 24th will be paid 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 yield of 2.70%. CVS Health’s payout ratio is presently 33.90%.
In other CVS Health news, EVP Lisa Bisaccia sold 21,534 shares of the stock in a transaction 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 document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Eva C. Boratto sold 13,311 shares of the stock in a transaction on Monday, September 17th. The stock was sold at an average price of $77.16, for a total value of $1,027,076.76. Following the completion of the sale, the executive vice president now owns 55,162 shares of the company’s stock, valued at approximately $4,256,299.92. 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. 0.53% of the stock is currently owned by company insiders.
About CVS Health
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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