Legacy Advisors LLC lifted its stake in CVS Health Corp (NYSE:CVS) by 2.5% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 8,048 shares of the pharmacy operator’s stock after purchasing an additional 200 shares during the quarter. Legacy Advisors LLC’s holdings in CVS Health were worth $508,000 as of its most recent SEC filing.
Several other institutional investors also recently made changes to their positions in the stock. Vanguard Group Inc. increased its holdings in CVS Health by 1.2% in the 2nd quarter. Vanguard Group Inc. now owns 102,367,899 shares of the pharmacy operator’s stock worth $5,578,027,000 after buying an additional 1,167,143 shares during the period. Northern Trust Corp increased its holdings in CVS Health by 1.1% in the 2nd quarter. Northern Trust Corp now owns 18,328,099 shares of the pharmacy operator’s stock worth $998,699,000 after buying an additional 205,275 shares during the period. Macquarie Group Ltd. increased its holdings in CVS Health by 10.9% in the 2nd quarter. Macquarie Group Ltd. now owns 13,905,440 shares of the pharmacy operator’s stock worth $757,707,000 after buying an additional 1,372,275 shares during the period. Morgan Stanley increased its holdings in CVS Health by 12.8% in the 2nd quarter. Morgan Stanley now owns 13,765,635 shares of the pharmacy operator’s stock worth $750,088,000 after buying an additional 1,560,142 shares during the period. Finally, Nordea Investment Management AB increased its holdings in CVS Health by 2.8% in the 1st quarter. Nordea Investment Management AB now owns 12,426,745 shares of the pharmacy operator’s stock worth $670,172,000 after buying an additional 340,315 shares during the period. 75.91% of the stock is owned by hedge funds and other institutional investors.
In other news, EVP Joshua Matthew Flum sold 17,703 shares of the stock in a transaction that occurred on Monday, September 30th. The stock was sold at an average price of $63.00, for a total transaction of $1,115,289.00. Following the transaction, the executive vice president now owns 36,163 shares in the company, valued at approximately $2,278,269. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Eva C. Boratto sold 8,130 shares of the stock in a transaction that occurred on Thursday, September 12th. The shares were sold at an average price of $65.00, for a total value of $528,450.00. Following the transaction, the chief financial officer now owns 55,273 shares in the company, valued at approximately $3,592,745. The disclosure for this sale can be found here. 0.53% of the stock is owned by company insiders.
CVS has been the topic of several research reports. Royal Bank of Canada initiated coverage on shares of CVS Health in a report on Friday, September 27th. They issued an “outperform” rating and a $85.00 price target on the stock. ValuEngine upgraded shares of CVS Health from a “strong sell” rating to a “sell” rating in a report on Wednesday, October 2nd. Bank of America increased their price target on shares of CVS Health from $72.00 to $75.00 and gave the stock a “buy” rating in a report on Thursday, September 12th. TheStreet upgraded shares of CVS Health from a “c+” rating to a “b-” rating in a report on Monday, September 9th. Finally, Evercore ISI set a $63.00 price target on shares of CVS Health and gave the stock a “buy” rating in a report on Wednesday, August 7th. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating, eighteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus target price of $75.39.
Shares of NYSE CVS traded up $1.59 during midday trading on Thursday, reaching $62.39. 3,521,383 shares of the stock were exchanged, compared to its average volume of 6,401,102. The firm has a market cap of $80.62 billion, a price-to-earnings ratio of 8.81, a PEG ratio of 1.35 and a beta of 0.86. CVS Health Corp has a twelve month low of $51.72 and a twelve month high of $82.15. The firm has a 50-day simple moving average of $62.11 and a two-hundred day simple moving average of $56.68. The company has a quick ratio of 0.64, a current ratio of 0.95 and a debt-to-equity ratio of 1.39.
CVS Health (NYSE:CVS) last issued its quarterly earnings data on Wednesday, August 7th. The pharmacy operator reported $1.89 EPS for the quarter, topping analysts’ consensus estimates of $1.70 by $0.19. The business had revenue of $63.43 billion for the quarter, compared to analysts’ expectations of $62.66 billion. CVS Health had a net margin of 1.91% and a return on equity of 16.15%. The business’s revenue was up 35.2% on a year-over-year basis. During the same quarter last year, the company earned $1.69 EPS. Research analysts expect that CVS Health Corp will post 6.97 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, November 4th. Stockholders of record on Thursday, October 24th will be paid a dividend of $0.50 per share. The ex-dividend date is Wednesday, October 23rd. This represents a $2.00 dividend on an annualized basis and a dividend yield of 3.21%. CVS Health’s payout ratio is 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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