Independence Bank of Kentucky raised its position in shares of CVS Health Corp (NYSE:CVS) by 200.2% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,865 shares of the pharmacy operator’s stock after acquiring an additional 5,245 shares during the period. Independence Bank of Kentucky’s holdings in CVS Health were worth $619,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other institutional investors and hedge funds have also recently modified their holdings of the company. Camarda Financial Advisors LLC purchased a new stake in CVS Health during the 2nd quarter valued at $102,000. Kiley Juergens Wealth Management LLC purchased a new stake in CVS Health during the 2nd quarter valued at $103,000. Legacy Advisors LLC raised its holdings in CVS Health by 7,100.0% during the 2nd quarter. Legacy Advisors LLC now owns 1,800 shares of the pharmacy operator’s stock valued at $116,000 after buying an additional 1,775 shares during the period. Squar Milner Financial Services LLC purchased a new stake in CVS Health during the 2nd quarter valued at $122,000. Finally, Canton Hathaway LLC purchased a new stake in CVS Health during the 3rd quarter valued at $126,000. 82.88% of the stock is currently owned by institutional investors and hedge funds.
CVS stock opened at $74.53 on Friday. 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 Corp has a twelve month low of $60.14 and a twelve month high of $83.88. The firm has a market capitalization of $75.70 billion, a price-to-earnings ratio of 11.28, a price-to-earnings-growth ratio of 0.99 and a beta of 1.02.
CVS Health (NYSE:CVS) last released its earnings results on Wednesday, August 8th. The pharmacy operator reported $1.69 earnings per share for the quarter, topping analysts’ consensus estimates 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 last year, the firm posted $1.33 earnings per share. The business’s revenue was up 2.2% compared to the same quarter last year. Sell-side analysts predict that CVS Health Corp will post 7.05 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, November 1st. Shareholders of record on Wednesday, October 24th will be paid a $0.50 dividend. The ex-dividend date is Tuesday, October 23rd. This represents a $2.00 dividend on an annualized basis and a yield of 2.68%. CVS Health’s payout ratio is 33.90%.
In other CVS Health news, EVP Lisa Bisaccia sold 21,534 shares of the stock in a transaction on Monday, October 1st. The stock was sold at an average price of $80.00, for a total value of $1,722,720.00. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Eva C. Boratto sold 13,311 shares of the stock in a transaction on Monday, September 17th. The stock was sold at an average price of $77.16, for a total value of $1,027,076.76. Following the completion of the sale, the executive vice president now owns 55,162 shares in the company, valued at approximately $4,256,299.92. The disclosure for this sale can be found here. In the last quarter, insiders sold 43,409 shares of company stock worth $3,392,097. Insiders own 0.53% of the company’s stock.
Several analysts recently weighed in on CVS shares. Bank of America increased their price target on CVS Health from $86.00 to $90.00 and gave the company a “buy” rating in a report on Monday, September 17th. ValuEngine lowered CVS Health from a “sell” rating to a “strong sell” rating in a report on Tuesday, September 4th. Royal Bank of Canada increased their price target on CVS Health to $101.00 and gave the company an “outperform” rating in a report on Tuesday, September 18th. Citigroup restated a “buy” rating and set a $81.00 price target on shares of CVS Health in a report on Monday, July 9th. Finally, 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. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating, ten have issued a buy rating and two have issued a strong buy rating to the company. CVS Health has an average rating of “Buy” and a consensus price target of $86.31.
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.
Recommended Story: Buyback For Investors Defined
Receive News & Ratings for CVS Health Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for CVS Health and related companies with MarketBeat.com's FREE daily email newsletter.