Valeo Financial Advisors LLC trimmed its holdings in shares of CVS Health Corp (NYSE:CVS) by 29.3% during the third quarter, HoldingsChannel.com reports. The firm owned 7,624 shares of the pharmacy operator’s stock after selling 3,159 shares during the quarter. Valeo Financial Advisors LLC’s holdings in CVS Health were worth $552,000 as of its most recent filing with the SEC.
Several other institutional investors and hedge funds have also modified their holdings of CVS. BlackRock Inc. increased its holdings in shares of CVS Health by 5.9% during the second quarter. BlackRock Inc. now owns 74,135,102 shares of the pharmacy operator’s stock valued at $4,770,597,000 after purchasing an additional 4,121,620 shares during the period. Charles Schwab Investment Advisory Inc. acquired a new position in shares of CVS Health during the second quarter valued at $190,701,000. Boston Partners increased its holdings in shares of CVS Health by 41.9% during the second quarter. Boston Partners now owns 9,908,888 shares of the pharmacy operator’s stock valued at $637,637,000 after purchasing an additional 2,924,875 shares during the period. Morgan Stanley increased its holdings in shares of CVS Health by 28.4% during the second quarter. Morgan Stanley now owns 8,358,263 shares of the pharmacy operator’s stock valued at $537,854,000 after purchasing an additional 1,848,678 shares during the period. Finally, Caisse DE Depot ET Placement DU Quebec increased its holdings in shares of CVS Health by 52.1% during the second quarter. Caisse DE Depot ET Placement DU Quebec now owns 5,171,271 shares of the pharmacy operator’s stock valued at $332,771,000 after purchasing an additional 1,771,170 shares during the period. 82.42% of the stock is currently owned by institutional investors.
In related news, 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 transaction, the executive vice president now owns 55,162 shares in the company, valued at approximately $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 dated 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 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 corporate insiders.
Several brokerages recently weighed in on CVS. Leerink Swann reaffirmed a “positive” rating and set a $95.00 target price (up previously from $85.00) on shares of CVS Health in a research note on Thursday. Morgan Stanley set a $100.00 target price on CVS Health and gave the company a “buy” rating in a research note on Wednesday. Wolfe Research began coverage on 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 CVS Health and gave the company a “buy” rating in a research note on Tuesday, October 23rd. Finally, ValuEngine cut CVS Health from a “sell” rating to a “strong sell” rating in a research note on Tuesday, September 4th. One analyst has rated the stock with a sell rating, five have given a hold rating, ten have assigned a buy rating and two have given a strong buy rating to the stock. The stock has a consensus rating of “Buy” and an average target price of $88.58.
NYSE:CVS opened at $80.05 on Friday. The company has a debt-to-equity ratio of 1.66, a current ratio of 2.44 and a quick ratio of 1.87. CVS Health Corp has a 1-year low of $60.14 and a 1-year high of $83.88. The firm has a market capitalization of $79.31 billion, a P/E ratio of 13.57, a P/E/G ratio of 1.04 and a beta of 0.98.
CVS Health (NYSE:CVS) last released its quarterly earnings results on Tuesday, November 6th. The pharmacy operator reported $1.73 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.71 by $0.02. CVS Health had a return on equity of 18.69% and a net margin of 1.65%. The business had revenue of $47.27 billion during the quarter, compared to analyst estimates of $47.22 billion. During the same quarter last year, the company posted $1.50 EPS. CVS Health’s revenue for the quarter was up 2.4% on a year-over-year basis. Research analysts expect that CVS Health Corp will post 7.05 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Thursday, November 1st. Investors 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 dividend on an annualized basis and a dividend yield of 2.50%. CVS Health’s dividend payout ratio (DPR) is 33.90%.
About CVS Health
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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