Court Place Advisors LLC Buys Shares of 2,920 CVS Health Corp (CVS)

Court Place Advisors LLC bought a new stake in shares of CVS Health Corp (NYSE:CVS) in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm bought 2,920 shares of the pharmacy operator’s stock, valued at approximately $230,000.

Several other institutional investors have also made changes to their positions in the company. BlackRock Inc. increased its position in shares of CVS Health by 5.9% during the 2nd quarter. BlackRock Inc. now owns 74,135,102 shares of the pharmacy operator’s stock valued at $4,770,597,000 after purchasing an additional 4,121,620 shares during the last quarter. Parnassus Investments CA increased its position in shares of CVS Health by 2.2% during the 2nd quarter. Parnassus Investments CA now owns 16,659,501 shares of the pharmacy operator’s stock valued at $1,072,039,000 after purchasing an additional 350,872 shares during the last quarter. Bank of New York Mellon Corp increased its position in shares of CVS Health by 15.9% during the 2nd quarter. Bank of New York Mellon Corp now owns 12,573,338 shares of the pharmacy operator’s stock valued at $809,095,000 after purchasing an additional 1,721,683 shares during the last quarter. Veritas Asset Management LLP increased its position in shares of CVS Health by 4.5% during the 2nd quarter. Veritas Asset Management LLP now owns 11,890,424 shares of the pharmacy operator’s stock valued at $765,149,000 after purchasing an additional 508,500 shares during the last quarter. Finally, Dimensional Fund Advisors LP increased its position in shares of CVS Health by 0.6% during the 2nd quarter. Dimensional Fund Advisors LP now owns 10,840,057 shares of the pharmacy operator’s stock valued at $697,653,000 after purchasing an additional 64,223 shares during the last quarter. 82.62% 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 firm’s stock in a transaction dated 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 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 filing with the SEC, which can be accessed through the SEC website. Also, EVP Kevin Hourican sold 8,564 shares of the firm’s stock in a transaction dated 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 transaction, 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. In the last 90 days, insiders sold 43,409 shares of company stock valued at $3,392,097. 0.53% of the stock is owned by corporate insiders.

Shares of NYSE CVS opened at $73.09 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 stock has a market capitalization of $73.70 billion, a price-to-earnings ratio of 10.98, a P/E/G ratio of 0.97 and a beta of 0.98.

CVS Health (NYSE:CVS) last issued its earnings results on Wednesday, August 8th. The pharmacy operator reported $1.69 EPS for the quarter, topping the 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 the consensus estimate of $46.34 billion. During the same quarter last year, the company earned $1.33 EPS. The firm’s revenue was up 2.2% compared to the same quarter last year. On average, equities analysts forecast that CVS Health Corp will post 7.05 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which was paid on Thursday, November 1st. Shareholders of record on Wednesday, October 24th were paid a $0.50 dividend. The ex-dividend date of this dividend was Tuesday, October 23rd. This represents a $2.00 annualized dividend and a yield of 2.74%. CVS Health’s dividend payout ratio is currently 33.90%.

Several research analysts have recently weighed in on the company. Royal Bank of Canada reiterated a “buy” rating and set a $90.00 price target on shares of CVS Health in a research note on Wednesday, August 8th. Leerink Swann set a $80.00 price target on CVS Health and gave the stock an “outperform” rating in a research note on Thursday, August 9th. Citigroup reiterated a “buy” rating and set a $81.00 price target on shares of CVS Health in a research note on Monday, July 9th. ValuEngine upgraded CVS Health from a “strong sell” rating to a “sell” rating in a research note on Monday, September 10th. Finally, Wolfe Research assumed coverage on CVS Health in a research note on Thursday, October 25th. They set a “peer perform” rating for the company. One investment analyst has rated the stock with a sell rating, five have issued a hold rating, ten have given a buy rating and two have assigned a strong buy rating to the company. The company currently has an average rating of “Buy” and a consensus price target of $86.18.

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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Institutional Ownership by Quarter for CVS Health (NYSE:CVS)

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