Endurance Wealth Management Inc. lessened its stake in CVS Health Corp (NYSE:CVS) by 1.3% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 25,071 shares of the pharmacy operator’s stock after selling 327 shares during the quarter. Endurance Wealth Management Inc.’s holdings in CVS Health were worth $1,863,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Vanguard Group Inc. boosted its stake in CVS Health by 1.2% during the second quarter. Vanguard Group Inc. now owns 102,367,899 shares of the pharmacy operator’s stock valued at $5,578,027,000 after buying an additional 1,167,143 shares in the last quarter. Macquarie Group Ltd. boosted its stake in CVS Health by 10.9% during the second quarter. Macquarie Group Ltd. now owns 13,905,440 shares of the pharmacy operator’s stock valued at $757,707,000 after buying an additional 1,372,275 shares in the last quarter. Morgan Stanley boosted its stake in CVS Health by 12.8% during the second quarter. Morgan Stanley now owns 13,765,635 shares of the pharmacy operator’s stock valued at $750,088,000 after buying an additional 1,560,142 shares in the last quarter. Nuveen Asset Management LLC boosted its stake in CVS Health by 16,194.7% during the second quarter. Nuveen Asset Management LLC now owns 12,112,044 shares of the pharmacy operator’s stock valued at $659,986,000 after buying an additional 12,037,713 shares in the last quarter. Finally, Invesco Ltd. boosted its stake in CVS Health by 6.0% during the second quarter. Invesco Ltd. now owns 11,208,693 shares of the pharmacy operator’s stock valued at $610,761,000 after buying an additional 638,593 shares in the last quarter. Hedge funds and other institutional investors own 76.64% of the company’s stock.
In other CVS Health news, EVP Troyen A. Brennan sold 23,604 shares of the firm’s stock in a transaction dated Monday, November 4th. The stock was sold at an average price of $68.00, for a total transaction of $1,605,072.00. Following the completion of the sale, the executive vice president now directly owns 107,921 shares in the company, valued at approximately $7,338,628. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Karen S. Lynch sold 80,143 shares of the firm’s stock in a transaction dated Monday, November 18th. The stock was sold at an average price of $75.00, for a total value of $6,010,725.00. Following the sale, the executive vice president now owns 41,831 shares of the company’s stock, valued at $3,137,325. The disclosure for this sale can be found here. Insiders have sold a total of 161,310 shares of company stock valued at $11,796,598 over the last 90 days. Corporate insiders own 0.53% of the company’s stock.
Several research analysts recently weighed in on the company. Mizuho raised their target price on CVS Health from $71.00 to $82.00 and gave the company a “buy” rating in a research note on Friday, November 8th. SunTrust Banks raised their target price on CVS Health to $85.00 and gave the company a “buy” rating in a research note on Thursday, November 7th. Royal Bank of Canada assumed coverage on CVS Health in a research note on Friday, September 27th. They set an “outperform” rating and a $85.00 target price for the company. ValuEngine cut CVS Health from a “hold” rating to a “sell” rating in a research note on Wednesday, December 18th. Finally, Raymond James reaffirmed a “strong-buy” rating and set a $90.00 target price (up previously from $80.00) on shares of CVS Health in a research note on Wednesday, December 4th. One analyst has rated the stock with a sell rating, six have given a hold rating, seventeen have issued a buy rating and one has given a strong buy rating to the company. CVS Health currently has a consensus rating of “Buy” and an average target price of $77.43.
Shares of NYSE:CVS traded up $0.61 during midday trading on Tuesday, reaching $73.37. The company had a trading volume of 1,695,041 shares, compared to its average volume of 4,735,093. The company has a debt-to-equity ratio of 1.32, a quick ratio of 0.61 and a current ratio of 0.92. CVS Health Corp has a 1-year low of $51.72 and a 1-year high of $77.03. The firm has a market cap of $93.81 billion, a price-to-earnings ratio of 10.36, a price-to-earnings-growth ratio of 1.54 and a beta of 0.89. The company has a fifty day simple moving average of $74.18 and a two-hundred day simple moving average of $65.12.
CVS Health (NYSE:CVS) last released its quarterly earnings results on Wednesday, November 6th. The pharmacy operator reported $1.84 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.77 by $0.07. CVS Health had a return on equity of 15.45% and a net margin of 1.83%. The business had revenue of $64.81 billion during the quarter, compared to analyst estimates of $62.99 billion. During the same quarter last year, the company posted $1.73 EPS. CVS Health’s revenue for the quarter was up 36.5% on a year-over-year basis. Analysts expect that CVS Health Corp will post 7.03 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, February 3rd. Shareholders of record on Thursday, January 23rd will be given a dividend of $0.50 per share. The ex-dividend date is Wednesday, January 22nd. This represents a $2.00 dividend on an annualized basis and a yield of 2.73%. CVS Health’s payout ratio is presently 28.25%.
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.
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