WBI Investments Inc. bought a new stake in CVS Health Corp (NYSE:CVS) during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor bought 2,711 shares of the pharmacy operator’s stock, valued at approximately $213,000.
Several other institutional investors and hedge funds have also modified their holdings of CVS. Camarda Financial Advisors LLC acquired a new position in CVS Health in the second quarter worth approximately $102,000. Kiley Juergens Wealth Management LLC bought a new stake in CVS Health during the second quarter worth approximately $103,000. Legacy Advisors LLC boosted its position 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 purchasing an additional 1,775 shares during the period. Squar Milner Financial Services LLC bought a new stake in CVS Health during the second quarter worth approximately $122,000. Finally, Canton Hathaway LLC bought a new stake in CVS Health during the third quarter worth approximately $126,000. Institutional investors own 82.42% of the company’s stock.
A number of equities research analysts have issued reports on the company. ValuEngine raised CVS Health from a “sell” rating to a “hold” rating in a research report on Tuesday. Tigress Financial reaffirmed a “buy” rating on shares of CVS Health in a research report on Friday, October 26th. Wolfe Research assumed coverage on CVS Health in a research report on Thursday, October 25th. They set a “peer perform” rating for the company. Royal Bank of Canada set a $99.00 target price on CVS Health and gave the stock a “buy” rating in a research report on Tuesday, October 23rd. Finally, Bank of America upped their target price on CVS Health from $86.00 to $90.00 and gave the stock a “buy” rating in a research report on Monday, September 17th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating, ten have issued a buy rating and two have given a strong buy rating to the stock. The stock currently has an average rating of “Buy” and an average price target of $86.18.
In related news, EVP Kevin Hourican sold 8,564 shares of the firm’s stock in a transaction on 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 directly owns 12,135 shares of the company’s stock, valued at $910,125. The sale was disclosed in a document filed with the SEC, which can be accessed through 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 value 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 three months. 0.53% of the stock is owned by company insiders.
CVS opened at $77.90 on Wednesday. CVS Health Corp has a 1-year low of $60.14 and a 1-year high of $83.88. The company has a debt-to-equity ratio of 1.73, a current ratio of 2.34 and a quick ratio of 1.87. The company has a market capitalization of $74.41 billion, a PE ratio of 13.20, a price-to-earnings-growth ratio of 0.97 and a beta of 0.98.
CVS Health (NYSE:CVS) last posted its quarterly earnings data on Tuesday, November 6th. The pharmacy operator reported $1.73 earnings per share for the quarter, beating the consensus estimate of $1.71 by $0.02. CVS Health had a return on equity of 18.25% and a net margin of 1.61%. The company had revenue of $47.27 billion during the quarter, compared to analysts’ expectations of $47.22 billion. During the same period in the prior year, the business earned $1.50 earnings per share. CVS Health’s revenue for the quarter was up 2.4% compared to the same quarter last year. As a group, sell-side analysts predict that CVS Health Corp will post 7.04 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Thursday, November 1st. Stockholders of record on Wednesday, October 24th were given a $0.50 dividend. The ex-dividend date was Tuesday, October 23rd. This represents a $2.00 annualized dividend and a dividend yield of 2.57%. CVS Health’s dividend payout ratio is 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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