Fisher Asset Management LLC lowered its holdings in CVS Health Corp (NYSE:CVS) by 94.6% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 17,049 shares of the pharmacy operator’s stock after selling 300,626 shares during the quarter. Fisher Asset Management LLC’s holdings in CVS Health were worth $1,342,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other hedge funds have also bought and sold shares of the company. BlackRock Inc. raised its stake in shares of CVS Health by 5.9% in the second quarter. BlackRock Inc. now owns 74,135,102 shares of the pharmacy operator’s stock worth $4,770,597,000 after purchasing an additional 4,121,620 shares during the last quarter. Parnassus Investments CA increased its position in CVS Health by 2.2% during the second quarter. Parnassus Investments CA now owns 16,659,501 shares of the pharmacy operator’s stock valued at $1,072,039,000 after acquiring an additional 350,872 shares during the last quarter. Bank of New York Mellon Corp increased its position in CVS Health by 15.9% during the second 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 acquiring an additional 1,721,683 shares during the last quarter. Veritas Asset Management LLP increased its position in CVS Health by 4.5% during the second quarter. Veritas Asset Management LLP now owns 11,890,424 shares of the pharmacy operator’s stock valued at $765,149,000 after acquiring an additional 508,500 shares during the last quarter. Finally, Dimensional Fund Advisors LP increased its position in CVS Health by 0.6% during the second quarter. Dimensional Fund Advisors LP now owns 10,840,057 shares of the pharmacy operator’s stock valued at $697,653,000 after acquiring an additional 64,223 shares during the last quarter. Hedge funds and other institutional investors own 82.62% of the company’s stock.
In other CVS Health news, EVP Eva C. Boratto sold 13,311 shares of the company’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 sale, the executive vice president now owns 55,162 shares in the company, valued at $4,256,299.92. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, EVP Lisa Bisaccia sold 21,534 shares of the company’s stock in a transaction dated Monday, October 1st. The stock was 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. In the last 90 days, insiders sold 43,409 shares of company stock valued at $3,392,097. Company insiders own 0.53% of the company’s stock.
CVS has been the subject of a number of research reports. Bank of America upped their price objective on CVS Health from $86.00 to $90.00 and gave the company a “buy” rating in a research report on Monday, September 17th. ValuEngine cut CVS Health from a “sell” rating to a “strong sell” rating in a research report on Tuesday, September 4th. Royal Bank of Canada upped their price objective on CVS Health to $101.00 and gave the company an “outperform” rating in a research report on Tuesday, September 18th. Citigroup reiterated a “buy” rating and set a $81.00 price objective on shares of CVS Health in a research report on Monday, July 9th. Finally, Tigress Financial reiterated a “buy” rating on shares of CVS Health in a research report on Friday, October 26th. One research analyst has rated the stock with a sell rating, five have issued a hold rating, ten have issued a buy rating and two have given a strong buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus target price of $86.18.
Shares of CVS opened at $73.09 on Friday. The company has a debt-to-equity ratio of 1.73, a current ratio of 2.34 and a quick ratio of 1.87. 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 Corp has a 52 week low of $60.14 and a 52 week high of $83.88.
CVS Health (NYSE:CVS) last issued its quarterly earnings results on Wednesday, August 8th. The pharmacy operator reported $1.69 EPS for the quarter, topping analysts’ consensus estimates of $1.61 by $0.08. The business had revenue of $46.71 billion during the quarter, compared to analysts’ expectations of $46.34 billion. CVS Health had a return on equity of 18.25% and a net margin of 1.61%. The business’s quarterly revenue was up 2.2% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.33 earnings per share. As a group, research analysts anticipate that CVS Health Corp will post 7.05 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Thursday, November 1st. Shareholders of record on Wednesday, October 24th were given a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a yield of 2.74%. The ex-dividend date of this dividend was Tuesday, October 23rd. CVS Health’s payout ratio is 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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