Robecosam AG increased its stake in CVS Health Corp (NYSE:CVS) by 17.8% in the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 220,965 shares of the pharmacy operator’s stock after purchasing an additional 33,409 shares during the quarter. Robecosam AG’s holdings in CVS Health were worth $12,096,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds also recently bought and sold shares of the stock. Nordea Investment Management AB boosted its holdings in shares of CVS Health by 2.8% in the first quarter. Nordea Investment Management AB now owns 12,426,745 shares of the pharmacy operator’s stock worth $670,172,000 after acquiring an additional 340,315 shares during the period. Pinnacle Bank bought a new position in CVS Health in the fourth quarter valued at approximately $157,000. Contravisory Investment Management Inc. bought a new position in CVS Health in the first quarter valued at approximately $3,040,000. Owl Creek Asset Management L.P. grew its stake in CVS Health by 126.1% in the fourth quarter. Owl Creek Asset Management L.P. now owns 1,750,594 shares of the pharmacy operator’s stock valued at $114,699,000 after purchasing an additional 976,494 shares in the last quarter. Finally, M&R Capital Management Inc. grew its stake in CVS Health by 3.0% in the first quarter. M&R Capital Management Inc. now owns 130,126 shares of the pharmacy operator’s stock valued at $6,965,000 after purchasing an additional 3,794 shares in the last quarter. Hedge funds and other institutional investors own 77.18% of the company’s stock.
NYSE:CVS traded up $1.13 during mid-day trading on Tuesday, hitting $59.88. The company had a trading volume of 5,041,186 shares, compared to its average volume of 8,182,775. CVS Health Corp has a fifty-two week low of $51.72 and a fifty-two week high of $82.15. The company has a fifty day moving average price of $55.98. The company has a current ratio of 0.95, a quick ratio of 0.64 and a debt-to-equity ratio of 1.39. The stock has a market capitalization of $77.11 billion, a price-to-earnings ratio of 8.46, a P/E/G ratio of 1.30 and a beta of 0.90.
CVS Health (NYSE:CVS) last released its quarterly earnings results on Wednesday, August 7th. The pharmacy operator reported $1.89 EPS for the quarter, topping the Zacks’ consensus estimate of $1.70 by $0.19. The company had revenue of $63.43 billion for the quarter, compared to analyst estimates of $62.66 billion. CVS Health had a return on equity of 16.15% and a net margin of 1.91%. CVS Health’s revenue was up 35.2% compared to the same quarter last year. During the same quarter last year, the firm posted $1.69 earnings per share. As a group, research analysts anticipate that CVS Health Corp will post 6.96 earnings per share for the current year.
The business also recently declared a quarterly dividend, which was paid on Friday, August 2nd. Shareholders of record on Thursday, July 25th were paid a $0.50 dividend. The ex-dividend date was Wednesday, July 24th. This represents a $2.00 dividend on an annualized basis and a yield of 3.34%. CVS Health’s dividend payout ratio is 28.25%.
CVS has been the subject of a number of analyst reports. BMO Capital Markets set a $63.00 price target on CVS Health and gave the company a “hold” rating in a research note on Friday, May 3rd. Oppenheimer downgraded CVS Health from an “outperform” rating to a “market perform” rating in a research note on Monday, April 15th. Evercore ISI set a $63.00 price target on CVS Health and gave the company a “buy” rating in a research note on Wednesday, August 7th. Guggenheim initiated coverage on CVS Health in a research note on Thursday, April 18th. They issued a “buy” rating and a $75.00 price target for the company. Finally, Standpoint Research upgraded CVS Health from a “hold” rating to a “buy” rating in a research note on Wednesday, June 5th. Two analysts have rated the stock with a sell rating, seven have given a hold rating, sixteen have assigned a buy rating and one has issued a strong buy rating to the company. CVS Health presently has an average rating of “Buy” and an average price target of $75.14.
About CVS Health
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.
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