Perkins Capital Management Inc. Reduces Position in CVS Health Corp (CVS)

Perkins Capital Management Inc. lowered its holdings in shares of CVS Health Corp (NYSE:CVS) by 23.3% during the 1st quarter, HoldingsChannel reports. The fund owned 15,950 shares of the pharmacy operator’s stock after selling 4,850 shares during the period. Perkins Capital Management Inc.’s holdings in CVS Health were worth $860,000 as of its most recent SEC filing.

A number of other large investors have also bought and sold shares of CVS. Bell Rock Capital LLC lifted its stake in shares of CVS Health by 764.0% in the fourth quarter. Bell Rock Capital LLC now owns 432 shares of the pharmacy operator’s stock worth $28,000 after buying an additional 382 shares in the last quarter. Bay Harbor Wealth Management LLC lifted its stake in shares of CVS Health by 1,871.4% in the first quarter. Bay Harbor Wealth Management LLC now owns 552 shares of the pharmacy operator’s stock worth $30,000 after buying an additional 524 shares in the last quarter. Acima Private Wealth LLC bought a new position in shares of CVS Health in the fourth quarter worth approximately $33,000. Murphy Pohlad Asset Management LLC bought a new position in shares of CVS Health in the fourth quarter worth approximately $39,000. Finally, Somerset Trust Co lifted its stake in shares of CVS Health by 152.7% in the first quarter. Somerset Trust Co now owns 758 shares of the pharmacy operator’s stock worth $41,000 after buying an additional 458 shares in the last quarter. 80.39% of the stock is currently owned by institutional investors and hedge funds.

In other CVS Health news, Director Edward J. Ludwig bought 4,000 shares of CVS Health stock in a transaction on Friday, March 1st. The stock was acquired at an average cost of $58.27 per share, with a total value of $233,080.00. Following the completion of the acquisition, the director now owns 5,378 shares in the company, valued at $313,376.06. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP James David Clark sold 1,664 shares of the company’s stock in a transaction that occurred on Friday, March 1st. The shares were sold at an average price of $58.14, for a total transaction of $96,744.96. Following the sale, the senior vice president now directly owns 8,557 shares of the company’s stock, valued at $497,503.98. The disclosure for this sale can be found here. Over the last ninety days, insiders have acquired 23,600 shares of company stock valued at $1,270,896. 0.53% of the stock is owned by corporate insiders.

Several brokerages have recently issued reports on CVS. CIBC reiterated a “market perform” rating on shares of CVS Health in a research note on Monday, April 15th. Raymond James dropped their target price on shares of CVS Health from $90.00 to $75.00 and set a “strong-buy” rating on the stock in a research note on Thursday, April 18th. SunTrust Banks dropped their target price on shares of CVS Health from $85.00 to $65.00 in a research note on Wednesday, April 10th. BMO Capital Markets began coverage on shares of CVS Health in a research report on Wednesday, April 10th. They set an “outperform” rating and a $58.00 price objective on the stock. Finally, Guggenheim began coverage on shares of CVS Health in a research report on Thursday, April 18th. They set a “buy” rating and a $75.00 price objective on the stock. Two research analysts have rated the stock with a sell rating, seven have given a hold rating, fifteen have given a buy rating and one has given a strong buy rating to the stock. The company currently has an average rating of “Buy” and an average target price of $77.62.

Shares of CVS Health stock opened at $53.52 on Wednesday. The company has a market cap of $68.70 billion, a P/E ratio of 7.56, a P/E/G ratio of 1.03 and a beta of 0.93. CVS Health Corp has a twelve month low of $51.72 and a twelve month high of $82.15. The company has a debt-to-equity ratio of 1.45, a quick ratio of 0.64 and a current ratio of 0.95.

CVS Health (NYSE:CVS) last announced its earnings results on Wednesday, May 1st. The pharmacy operator reported $1.62 EPS for the quarter, beating the Zacks’ consensus estimate of $1.50 by $0.12. CVS Health had a negative net margin of 0.08% and a positive return on equity of 16.80%. The business had revenue of $61.65 billion during the quarter, compared to analysts’ expectations of $60.39 billion. During the same period in the prior year, the company earned $1.48 earnings per share. The firm’s revenue was up 34.8% on a year-over-year basis. On average, research analysts anticipate that CVS Health Corp will post 6.83 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which was paid on Friday, May 3rd. Shareholders of record on Tuesday, April 23rd were issued a dividend of $0.50 per share. The ex-dividend date of this dividend was Monday, April 22nd. This represents a $2.00 dividend on an annualized basis and a yield of 3.74%. CVS Health’s dividend payout ratio is currently 28.25%.

WARNING: This piece of content was reported by Dispatch Tribunal and is owned by of Dispatch Tribunal. If you are viewing this piece of content on another site, it was illegally copied and reposted in violation of US and international copyright & trademark law. The legal version of this piece of content can be read at https://www.dispatchtribunal.com/2019/05/22/perkins-capital-management-inc-reduces-position-in-cvs-health-corp-cvs.html.

CVS Health Company Profile

CVS Health Corporation provides health services and plans in the United States. Its Pharmacy Services segment offers pharmacy benefit management solutions, such as plan design and administration, formulary management, retail pharmacy network management, mail order pharmacy, specialty pharmacy and infusion, Medicare Part D, clinical, disease management, and medical spend management services.

See Also: 52-Week High/Low Prices For Stock Selection

Want to see what other hedge funds are holding CVS? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for CVS Health Corp (NYSE:CVS).

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

Receive News & Ratings for CVS Health Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for CVS Health and related companies with MarketBeat.com's FREE daily email newsletter.