Signature Wealth Management Group raised its holdings in shares of CVS Health Corp (NYSE:CVS) by 13.7% in the 3rd quarter, Holdings Channel reports. The firm owned 7,990 shares of the pharmacy operator’s stock after buying an additional 960 shares during the quarter. Signature Wealth Management Group’s holdings in CVS Health were worth $564,000 at the end of the most recent reporting period.
A number of other hedge funds have also added to or reduced their stakes in CVS. IFM Investors Pty Ltd lifted its position in CVS Health by 46.0% during the second quarter. IFM Investors Pty Ltd now owns 46,005 shares of the pharmacy operator’s stock valued at $2,960,000 after purchasing an additional 14,487 shares during the last quarter. Thompson Investment Management Inc. lifted its holdings in shares of CVS Health by 4.7% in the 2nd quarter. Thompson Investment Management Inc. now owns 97,616 shares of the pharmacy operator’s stock worth $6,282,000 after acquiring an additional 4,425 shares during the last quarter. Moon Capital Management LLC lifted its holdings in shares of CVS Health by 9.4% in the 2nd quarter. Moon Capital Management LLC now owns 60,015 shares of the pharmacy operator’s stock worth $3,862,000 after acquiring an additional 5,175 shares during the last quarter. Farmers Trust Co. bought a new stake in shares of CVS Health in the 2nd quarter worth about $2,503,000. Finally, Fisher Asset Management LLC lifted its holdings in shares of CVS Health by 5.7% in the 2nd quarter. Fisher Asset Management LLC now owns 317,675 shares of the pharmacy operator’s stock worth $20,442,000 after acquiring an additional 17,250 shares during the last quarter. Institutional investors and hedge funds own 82.42% of the company’s stock.
Shares of CVS opened at $73.09 on Monday. CVS Health Corp has a 1-year low of $60.14 and a 1-year high of $83.88. The stock has a market cap of $74.41 billion, a P/E ratio of 12.39, a P/E/G ratio of 0.97 and a beta of 0.98. The company has a debt-to-equity ratio of 1.73, a current ratio of 2.34 and a quick ratio of 1.87.
CVS Health (NYSE:CVS) last announced its quarterly earnings data on Wednesday, August 8th. The pharmacy operator reported $1.69 earnings per share for the quarter, beating analysts’ consensus estimates of $1.61 by $0.08. CVS Health had a net margin of 1.61% and a return on equity of 18.25%. The company had revenue of $46.71 billion during the quarter, compared to analyst estimates of $46.34 billion. During the same quarter last year, the business posted $1.33 EPS. The firm’s revenue for the quarter was up 2.2% on a year-over-year basis. Research analysts forecast that CVS Health Corp will post 7.05 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Thursday, November 1st. Investors of record on Wednesday, October 24th were issued a dividend of $0.50 per share. The ex-dividend date was Tuesday, October 23rd. This represents a $2.00 dividend on an annualized basis and a yield of 2.74%. CVS Health’s payout ratio is 33.90%.
Several equities research analysts have recently issued reports on the stock. ValuEngine upgraded shares of CVS Health from a “sell” rating to a “hold” rating in a report on Wednesday, October 31st. Wolfe Research assumed coverage on shares of CVS Health in a report on Thursday, October 25th. They issued a “peer perform” rating for the company. Royal Bank of Canada set a $99.00 target price on shares of CVS Health and gave the stock a “buy” rating in a report on Tuesday, October 23rd. Leerink Swann set a $80.00 target price on shares of CVS Health and gave the stock an “outperform” rating in a report on Thursday, August 9th. Finally, Tigress Financial restated a “buy” rating on shares of CVS Health in a report on Friday, October 26th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating, ten have issued a buy rating and two have given a strong buy rating to the company. CVS Health presently has a consensus rating of “Buy” and a consensus target price of $86.18.
In other CVS Health news, EVP Lisa Bisaccia sold 21,534 shares of the firm’s stock in a transaction dated Monday, October 1st. The shares were sold at an average price of $80.00, for a total transaction of $1,722,720.00. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Kevin Hourican sold 8,564 shares of the firm’s stock in a transaction dated Monday, August 27th. The shares were sold at an average price of $75.00, for a total transaction of $642,300.00. Following the transaction, the executive vice president now directly owns 12,135 shares in the company, valued at approximately $910,125. The disclosure for this sale can be found here. Insiders have sold a total of 43,409 shares of company stock valued at $3,392,097 in the last quarter. 0.53% of the stock is currently owned by company insiders.
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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