Partnervest Advisory Services LLC cut its holdings in CVS Health Corp (NYSE:CVS) by 25.4% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 2,766 shares of the pharmacy operator’s stock after selling 944 shares during the quarter. Partnervest Advisory Services LLC’s holdings in CVS Health were worth $218,000 as of its most recent SEC filing.
A number of other institutional investors have also modified their holdings of CVS. Camarda Financial Advisors LLC purchased a new position in CVS Health during the 2nd quarter valued at about $102,000. Canton Hathaway LLC purchased a new position in CVS Health during the 3rd quarter valued at about $126,000. Kiley Juergens Wealth Management LLC purchased a new position in CVS Health during the 2nd quarter valued at about $103,000. MCF Advisors LLC grew its stake in CVS Health by 284.1% during the 3rd quarter. MCF Advisors LLC now owns 1,713 shares of the pharmacy operator’s stock valued at $135,000 after acquiring an additional 1,267 shares in the last quarter. Finally, Legacy Advisors LLC grew its stake in CVS Health by 7,100.0% during the 2nd quarter. Legacy Advisors LLC now owns 1,800 shares of the pharmacy operator’s stock valued at $116,000 after acquiring an additional 1,775 shares in the last quarter. Hedge funds and other institutional investors own 82.42% of the company’s stock.
In related news, EVP Kevin Hourican sold 8,564 shares of the business’s stock in a transaction that occurred on 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 sale, the executive vice president now directly owns 12,135 shares in the company, valued at approximately $910,125. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Eva C. Boratto sold 13,311 shares of the business’s stock in a transaction that occurred 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 $4,256,299.92. The disclosure for this sale can be found here. In 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 company insiders.
Shares of NYSE CVS opened at $73.69 on Tuesday. The company has a market capitalization of $74.41 billion, a P/E ratio of 12.49, a PEG 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. The company has a debt-to-equity ratio of 1.73, a current ratio of 2.34 and a quick ratio of 1.87.
CVS Health (NYSE:CVS) last announced its quarterly earnings results on Wednesday, August 8th. The pharmacy operator reported $1.69 EPS for the quarter, beating the Thomson Reuters’ consensus estimate 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 firm’s quarterly revenue was up 2.2% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.33 EPS. As a group, equities analysts forecast that CVS Health Corp will post 7.05 earnings per share for the current year.
The company also recently declared a quarterly dividend, which was paid on Thursday, November 1st. Investors of record on Wednesday, October 24th were paid a $0.50 dividend. The ex-dividend date was Tuesday, October 23rd. This represents a $2.00 annualized dividend and a dividend yield of 2.71%. CVS Health’s payout ratio is 33.90%.
CVS has been the topic of several research analyst reports. Royal Bank of Canada reaffirmed a “buy” rating and set a $90.00 target price on shares of CVS Health in a research note on Wednesday, August 8th. Citigroup reaffirmed a “buy” rating and set a $81.00 target price on shares of CVS Health in a research note on Monday, July 9th. Bank of America lifted their target price on CVS Health from $86.00 to $90.00 and gave the company a “buy” rating in a research note on Monday, September 17th. Tigress Financial reaffirmed a “buy” rating on shares of CVS Health in a research note on Friday, October 26th. Finally, ValuEngine raised CVS Health from a “sell” rating to a “hold” rating in a research note on Wednesday, October 31st. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating, ten have given a buy rating and two have given a strong buy rating to the company. CVS Health has an average rating of “Buy” and a consensus price target of $86.18.
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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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