Capital Investment Advisory Services LLC grew its holdings in shares of CVS Health Corp (NYSE:CVS) by 21.2% in the 3rd quarter, Holdings Channel reports. The fund owned 4,731 shares of the pharmacy operator’s stock after purchasing an additional 826 shares during the period. Capital Investment Advisory Services LLC’s holdings in CVS Health were worth $372,000 at the end of the most recent quarter.
Other hedge funds have also added to or reduced their stakes in the company. Camarda Financial Advisors LLC bought a new position in CVS Health during the second quarter worth $102,000. Kiley Juergens Wealth Management LLC bought a new position in CVS Health during the second quarter worth $103,000. Legacy Advisors LLC raised its stake in CVS Health by 7,100.0% during the second quarter. Legacy Advisors LLC now owns 1,800 shares of the pharmacy operator’s stock worth $116,000 after buying an additional 1,775 shares during the last quarter. Squar Milner Financial Services LLC bought a new position in CVS Health during the second quarter worth $122,000. Finally, Canton Hathaway LLC bought a new position in CVS Health during the third quarter worth $126,000. 82.42% of the stock is owned by hedge funds and other institutional investors.
NYSE:CVS opened at $73.69 on Tuesday. The company has a quick ratio of 1.87, a current ratio of 2.34 and a debt-to-equity ratio of 1.73. The firm has a market capitalization of $74.41 billion, a price-to-earnings ratio of 12.49, a P/E/G ratio of 0.97 and a beta of 0.98. CVS Health Corp has a 12 month low of $60.14 and a 12 month high of $83.88.
CVS Health (NYSE:CVS) last posted its quarterly earnings results on Wednesday, August 8th. The pharmacy operator reported $1.69 EPS for the quarter, topping analysts’ consensus estimates of $1.61 by $0.08. The business had revenue of $46.71 billion during the quarter, compared to analysts’ expectations of $46.34 billion. CVS Health had a net margin of 1.61% and a return on equity of 18.25%. The business’s quarterly revenue was up 2.2% on a year-over-year basis. During the same period last year, the company posted $1.33 earnings per share. As a group, research analysts anticipate that CVS Health Corp will post 7.05 EPS for the current year.
The business also recently declared a quarterly dividend, which was paid on Thursday, November 1st. Shareholders of record on Wednesday, October 24th were issued a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a yield of 2.71%. The ex-dividend date of this dividend was Tuesday, October 23rd. CVS Health’s payout ratio is 33.90%.
A number of equities analysts recently weighed in on the stock. ValuEngine raised shares of CVS Health from a “sell” rating to a “hold” rating in a research note on Wednesday, October 31st. Wolfe Research assumed coverage on shares of CVS Health in a research note on Thursday, October 25th. They set 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 research note 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 research note on Thursday, August 9th. Finally, Tigress Financial reissued a “buy” rating on shares of CVS Health in a research note on Friday, October 26th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating, ten have given a buy rating and two have assigned a strong buy rating to the company. The stock presently has an average rating of “Buy” and a consensus price target of $86.18.
In other CVS Health news, EVP Eva C. Boratto sold 13,311 shares of the firm’s stock in a transaction on Monday, September 17th. The shares were 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 directly owns 55,162 shares in the company, valued at $4,256,299.92. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Lisa Bisaccia sold 21,534 shares of the firm’s stock in a transaction on Monday, October 1st. The stock was sold at an average price of $80.00, for a total transaction of $1,722,720.00. The disclosure for this sale can be found here. Insiders sold 43,409 shares of company stock valued at $3,392,097 over the last 90 days. Corporate insiders own 0.53% of the company’s stock.
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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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