Stanley Laman Group Ltd. cut its holdings in CVS Health Corp (NYSE:CVS) by 3.0% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 25,890 shares of the pharmacy operator’s stock after selling 796 shares during the period. Stanley Laman Group Ltd.’s holdings in CVS Health were worth $1,666,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also bought and sold shares of the company. HC Financial Advisors Inc. acquired a new stake in CVS Health during the 4th quarter worth about $285,000. Two Sigma Advisers LP lifted its position in CVS Health by 200.6% during the 4th quarter. Two Sigma Advisers LP now owns 2,310,106 shares of the pharmacy operator’s stock worth $167,483,000 after acquiring an additional 1,541,487 shares during the period. HealthCor Management L.P. acquired a new stake in CVS Health during the 4th quarter worth about $81,563,000. California State Teachers Retirement System lifted its position in CVS Health by 6.3% during the 4th quarter. California State Teachers Retirement System now owns 1,951,602 shares of the pharmacy operator’s stock worth $141,491,000 after acquiring an additional 115,379 shares during the period. Finally, Ardsley Advisory Partners acquired a new stake in CVS Health during the 4th quarter worth about $545,000. Institutional investors own 83.56% of the company’s stock.
NYSE CVS opened at $74.45 on Thursday. The stock has a market cap of $76.31 billion, a price-to-earnings ratio of 12.62, a P/E/G ratio of 1.01 and a beta of 0.96. CVS Health Corp has a fifty-two week low of $60.14 and a fifty-two week high of $84.00. 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 (NYSE:CVS) last released its quarterly earnings data on Wednesday, August 8th. The pharmacy operator reported $1.69 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.61 by $0.08. The business had revenue of $46.71 billion during the quarter, compared to analyst estimates of $46.34 billion. CVS Health had a return on equity of 18.25% and a net margin of 1.61%. The company’s revenue was up 2.2% on a year-over-year basis. During the same quarter last year, the business posted $1.33 EPS. analysts forecast that CVS Health Corp will post 7.05 EPS for the current year.
The firm also recently declared a quarterly dividend, which was paid on Wednesday, August 1st. Investors of record on Wednesday, July 25th were paid a $0.50 dividend. The ex-dividend date was Tuesday, July 24th. This represents a $2.00 annualized dividend and a dividend yield of 2.69%. CVS Health’s dividend payout ratio is presently 33.90%.
In related news, EVP Kevin Hourican sold 8,564 shares of CVS Health stock in a transaction dated Monday, August 27th. The stock was sold at an average price of $75.00, for a total value of $642,300.00. Following the completion of the transaction, the executive vice president now owns 12,135 shares in the company, valued at approximately $910,125. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 0.53% of the stock is owned by insiders.
A number of brokerages have commented on CVS. ValuEngine raised CVS Health from a “strong sell” rating to a “sell” rating in a research report on Tuesday. Leerink Swann set a $80.00 price target on CVS Health and gave the stock an “outperform” rating in a research report on Thursday, August 9th. Royal Bank of Canada reaffirmed a “buy” rating and set a $90.00 price target on shares of CVS Health in a research report on Wednesday, August 8th. Citigroup reaffirmed a “buy” rating and set a $81.00 price target on shares of CVS Health in a research report on Monday, July 9th. Finally, Morgan Stanley lowered their price target on CVS Health from $88.00 to $80.00 and set an “overweight” rating for the company in a research report on Tuesday, July 3rd. Two analysts have rated the stock with a sell rating, four have assigned a hold rating, eleven have given a buy rating and two have given a strong buy rating to the stock. The company presently has an average rating of “Buy” and an average target price of $86.04.
CVS Health 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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