Prio Wealth Limited Partnership trimmed its holdings in CVS Health Corp (NYSE:CVS) by 2.0% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 104,425 shares of the pharmacy operator’s stock after selling 2,141 shares during the period. Prio Wealth Limited Partnership’s holdings in CVS Health were worth $6,719,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds have also made changes to their positions in CVS. Adviser Investments LLC raised its position in shares of CVS Health by 43.3% during the 2nd quarter. Adviser Investments LLC now owns 2,993 shares of the pharmacy operator’s stock valued at $193,000 after acquiring an additional 905 shares in the last quarter. ICM Asset Management Inc. WA acquired a new stake in shares of CVS Health during the 2nd quarter valued at approximately $1,152,000. Whitnell & Co. raised its position in shares of CVS Health by 3.6% during the 2nd quarter. Whitnell & Co. now owns 50,248 shares of the pharmacy operator’s stock valued at $3,233,000 after acquiring an additional 1,725 shares in the last quarter. Chase Investment Counsel Corp acquired a new stake in shares of CVS Health during the 1st quarter valued at approximately $235,000. Finally, Kendall Capital Management raised its position in shares of CVS Health by 5.9% during the 2nd quarter. Kendall Capital Management now owns 23,925 shares of the pharmacy operator’s stock valued at $1,540,000 after acquiring an additional 1,335 shares in the last quarter. 83.60% of the stock is currently owned by institutional investors.
Several research firms recently issued reports on CVS. Leerink Swann set a $80.00 price target on CVS Health and gave the company an “outperform” rating in a research report on Thursday, August 9th. Royal Bank of Canada reissued a “buy” rating and set a $90.00 price target on shares of CVS Health in a research report on Wednesday, August 8th. Morgan Stanley dropped their price target on CVS Health from $88.00 to $80.00 and set an “overweight” rating on the stock in a research report on Tuesday, July 3rd. Mizuho reissued a “buy” rating on shares of CVS Health in a research report on Saturday, June 30th. Finally, ValuEngine lowered CVS Health from a “sell” rating to a “strong sell” rating in a research report on Tuesday, May 8th. Three research analysts have rated the stock with a sell rating, four have assigned a hold rating, eleven have assigned a buy rating and two have given a strong buy rating to the company. CVS Health has a consensus rating of “Buy” and an average price target of $86.04.
Shares of CVS opened at $73.68 on Friday. The firm has a market cap of $70.30 billion, a P/E ratio of 12.49, a P/E/G ratio of 0.93 and a beta of 0.96. The company has a quick ratio of 1.87, a current ratio of 2.34 and a debt-to-equity ratio of 1.73. CVS Health Corp has a 12 month low of $60.14 and a 12 month high of $84.00.
CVS Health (NYSE:CVS) last issued its quarterly earnings data on Wednesday, August 8th. The pharmacy operator reported $1.69 EPS for the quarter, topping the Zacks’ consensus estimate of $1.61 by $0.08. The firm had revenue of $46.71 billion during the quarter, compared to the consensus estimate of $46.34 billion. CVS Health had a return on equity of 18.25% and a net margin of 1.61%. The firm’s revenue was up 2.2% on a year-over-year basis. During the same period in the prior year, the business earned $1.33 EPS. equities analysts forecast that CVS Health Corp will post 7.04 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Wednesday, August 1st. Investors of record on Wednesday, July 25th were paid a dividend of $0.50 per share. The ex-dividend date was Tuesday, July 24th. This represents a $2.00 dividend on an annualized basis and a yield of 2.71%. CVS Health’s payout ratio is currently 33.90%.
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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