State Board of Administration of Florida Retirement System cut its stake in shares of CVS Health Corp (NYSE:CVS) by 0.1% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,407,909 shares of the pharmacy operator’s stock after selling 1,552 shares during the period. State Board of Administration of Florida Retirement System owned approximately 0.14% of CVS Health worth $90,599,000 as of its most recent SEC filing.
Several other institutional investors also recently made changes to their positions in CVS. Leavell Investment Management Inc. lifted its holdings in shares of CVS Health by 13.1% in the second quarter. Leavell Investment Management Inc. now owns 6,507 shares of the pharmacy operator’s stock valued at $419,000 after purchasing an additional 754 shares in the last quarter. Butensky & Cohen Financial Security Inc. lifted its holdings in shares of CVS Health by 2.9% in the second quarter. Butensky & Cohen Financial Security Inc. now owns 27,216 shares of the pharmacy operator’s stock valued at $1,751,000 after purchasing an additional 772 shares in the last quarter. Trust Co. of Vermont lifted its holdings in shares of CVS Health by 3.1% in the second quarter. Trust Co. of Vermont now owns 26,186 shares of the pharmacy operator’s stock valued at $1,685,000 after purchasing an additional 776 shares in the last quarter. Blue Chip Partners Inc. lifted its holdings in shares of CVS Health by 12.9% in the second quarter. Blue Chip Partners Inc. now owns 6,865 shares of the pharmacy operator’s stock valued at $442,000 after purchasing an additional 785 shares in the last quarter. Finally, M Holdings Securities Inc. lifted its holdings in shares of CVS Health by 9.4% in the fourth quarter. M Holdings Securities Inc. now owns 9,160 shares of the pharmacy operator’s stock valued at $222,000 after purchasing an additional 787 shares in the last quarter. 83.60% of the stock is owned by institutional investors and hedge funds.
A number of brokerages have recently commented on CVS. Loop Capital set a $68.00 price target on CVS Health and gave the company a “hold” rating in a report on Monday, May 7th. Leerink Swann set a $80.00 price target on CVS Health and gave the company an “outperform” rating in a report on Thursday, August 9th. Citigroup restated a “buy” rating and issued a $81.00 price target on shares of CVS Health in a report on Monday, July 9th. ValuEngine lowered CVS Health from a “hold” rating to a “sell” rating in a report on Wednesday, May 2nd. Finally, Morgan Stanley cut their price target on CVS Health from $88.00 to $80.00 and set an “overweight” rating on the stock in a report on Tuesday, July 3rd. Three investment analysts have rated the stock with a sell rating, four have assigned a hold rating, eleven have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus price target of $86.04.
CVS opened at $73.68 on Friday. CVS Health Corp has a 52-week low of $60.14 and a 52-week high of $84.00. The stock 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 debt-to-equity ratio of 1.73, a quick ratio of 1.87 and a current ratio of 2.34.
CVS Health (NYSE:CVS) last released its earnings results on Wednesday, August 8th. The pharmacy operator reported $1.69 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.61 by $0.08. CVS Health had a return on equity of 18.25% and a net margin of 1.61%. The business had revenue of $46.71 billion for the quarter, compared to analyst estimates of $46.34 billion. During the same quarter in the prior year, the company posted $1.33 earnings per share. CVS Health’s revenue was up 2.2% on a year-over-year basis. equities research analysts predict that CVS Health Corp will post 7.04 EPS for the current year.
The business also recently announced a quarterly dividend, which was paid on Wednesday, August 1st. Investors of record on Wednesday, July 25th were issued a dividend of $0.50 per share. The ex-dividend date was Tuesday, July 24th. This represents a $2.00 annualized dividend and a yield of 2.71%. CVS Health’s payout ratio is presently 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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