Benjamin F. Edwards & Company Inc. grew its position in CVS Health Corp (NYSE:CVS) by 4.0% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 38,581 shares of the pharmacy operator’s stock after purchasing an additional 1,489 shares during the period. Benjamin F. Edwards & Company Inc.’s holdings in CVS Health were worth $3,037,000 at the end of the most recent quarter.
Other hedge funds have also recently modified their holdings of the company. Court Place Advisors LLC bought a new stake in shares of CVS Health in the 3rd quarter worth approximately $230,000. Nicolet Bankshares Inc. lifted its position in shares of CVS Health by 49.1% in the 3rd quarter. Nicolet Bankshares Inc. now owns 9,143 shares of the pharmacy operator’s stock worth $720,000 after acquiring an additional 3,009 shares during the period. SOL Capital Management CO lifted its position in shares of CVS Health by 7.9% in the 3rd quarter. SOL Capital Management CO now owns 13,716 shares of the pharmacy operator’s stock worth $1,080,000 after acquiring an additional 1,000 shares during the period. Townsend & Associates Inc bought a new stake in shares of CVS Health in the 3rd quarter worth approximately $2,412,000. Finally, NN Investment Partners Holdings N.V. lifted its position in shares of CVS Health by 65.9% in the 3rd quarter. NN Investment Partners Holdings N.V. now owns 301,432 shares of the pharmacy operator’s stock worth $23,729,000 after acquiring an additional 119,731 shares during the period. 82.62% of the stock is currently owned by institutional investors.
In related news, EVP Kevin Hourican sold 8,564 shares of the firm’s stock in a transaction on Monday, August 27th. The stock was sold at an average price of $75.00, for a total transaction of $642,300.00. Following the completion of the sale, the executive vice president now directly owns 12,135 shares of the company’s stock, valued at approximately $910,125. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Lisa Bisaccia sold 21,534 shares of the firm’s stock in a transaction on Monday, October 1st. The shares were sold at an average price of $80.00, for a total value of $1,722,720.00. The disclosure for this sale can be found here. Over the last three months, insiders sold 43,409 shares of company stock valued at $3,392,097. 0.53% of the stock is currently owned by insiders.
A number of analysts have commented on CVS shares. Royal Bank of Canada set a $99.00 price objective on CVS Health and gave the stock a “buy” rating in a research report on Tuesday, October 23rd. Bank of America raised their price objective on CVS Health from $86.00 to $90.00 and gave the stock a “buy” rating in a research report on Monday, September 17th. ValuEngine upgraded CVS Health from a “strong sell” rating to a “sell” rating in a research report on Tuesday, August 28th. Tigress Financial reiterated a “buy” rating on shares of CVS Health in a research report on Friday, October 26th. Finally, Wolfe Research started coverage on CVS Health in a research report on Thursday, October 25th. They issued a “peer perform” rating for the company. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating, ten have issued a buy rating and two have assigned a strong buy rating to the company. CVS Health currently has a consensus rating of “Buy” and an average price target of $86.18.
Shares of CVS opened at $73.09 on Friday. CVS Health Corp has a 1 year low of $60.14 and a 1 year 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 company has a market capitalization of $73.70 billion, a PE ratio of 12.39, a P/E/G ratio of 0.97 and a beta of 1.02.
CVS Health (NYSE:CVS) last issued its 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 analysts’ expectations of $46.34 billion. During the same period in the prior year, the firm posted $1.33 EPS. CVS Health’s quarterly revenue was up 2.2% compared to the same quarter last year. As a group, equities research analysts expect that CVS Health Corp will post 7.01 earnings per share for the current year.
The business also recently announced a quarterly dividend, which was paid on Thursday, November 1st. Stockholders of record on Wednesday, October 24th were issued a $0.50 dividend. The ex-dividend date of this dividend was Tuesday, October 23rd. This represents a $2.00 dividend on an annualized basis and a dividend yield of 2.74%. CVS Health’s payout ratio is presently 33.90%.
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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