Fosun International Ltd raised its stake in CVS Health Corp (NYSE:CVS) by 98.6% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 13,110 shares of the pharmacy operator’s stock after purchasing an additional 6,510 shares during the period. Fosun International Ltd’s holdings in CVS Health were worth $1,033,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other hedge funds also recently bought and sold shares of CVS. Carmichael Hill & Associates Inc. purchased a new position in shares of CVS Health in the 3rd quarter valued at about $235,000. Seizert Capital Partners LLC increased its holdings in shares of CVS Health by 7.8% in the 3rd quarter. Seizert Capital Partners LLC now owns 363,061 shares of the pharmacy operator’s stock valued at $28,580,000 after acquiring an additional 26,255 shares during the last quarter. Trillium Asset Management LLC increased its holdings in shares of CVS Health by 1.1% in the 3rd quarter. Trillium Asset Management LLC now owns 164,147 shares of the pharmacy operator’s stock valued at $12,922,000 after acquiring an additional 1,788 shares during the last quarter. Jupiter Asset Management Ltd. increased its holdings in shares of CVS Health by 1.7% in the 3rd quarter. Jupiter Asset Management Ltd. now owns 141,550 shares of the pharmacy operator’s stock valued at $11,143,000 after acquiring an additional 2,404 shares during the last quarter. Finally, Janus Henderson Group PLC increased its holdings in shares of CVS Health by 90.2% in the 3rd quarter. Janus Henderson Group PLC now owns 1,171,895 shares of the pharmacy operator’s stock valued at $92,263,000 after acquiring an additional 555,880 shares during the last quarter. 83.03% of the stock is currently owned by institutional investors.
In other CVS Health news, EVP Troyen A. Brennan sold 14,229 shares of the stock in a transaction that occurred on Wednesday, November 14th. The stock was sold at an average price of $82.00, for a total transaction of $1,166,778.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Lisa Bisaccia sold 21,534 shares of the stock in a transaction that occurred 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 have sold a total of 49,074 shares of company stock valued at $3,916,575 over the last ninety days. 0.53% of the stock is owned by insiders.
NYSE:CVS opened at $80.27 on Thursday. The company has a market cap of $80.99 billion, a P/E ratio of 13.61, a PEG ratio of 1.14 and a beta of 0.98. The company has a current ratio of 2.44, a quick ratio of 1.94 and a debt-to-equity ratio of 1.66. CVS Health Corp has a 52-week low of $60.14 and a 52-week high of $83.88.
CVS Health (NYSE:CVS) last released its quarterly earnings results on Tuesday, November 6th. The pharmacy operator reported $1.73 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.71 by $0.02. The firm had revenue of $47.27 billion for the quarter, compared to the consensus estimate of $47.22 billion. CVS Health had a return on equity of 18.69% and a net margin of 1.65%. The firm’s quarterly revenue was up 2.4% compared to the same quarter last year. During the same quarter last year, the business posted $1.50 EPS. On average, research analysts expect that CVS Health Corp will post 7.02 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Thursday, November 1st. Shareholders of record on Wednesday, October 24th were given a dividend of $0.50 per share. The ex-dividend date of this dividend was Tuesday, October 23rd. This represents a $2.00 dividend on an annualized basis and a yield of 2.49%. CVS Health’s payout ratio is 33.90%.
A number of research firms have recently commented on CVS. Evercore ISI began coverage on CVS Health in a report on Wednesday. They issued an “outperform” rating and a $89.00 price objective on the stock. Loop Capital set a $80.00 price objective on CVS Health and gave the company a “hold” rating in a report on Wednesday. Wells Fargo & Co increased their price objective on CVS Health from $98.00 to $104.00 and gave the company an “outperform” rating in a report on Tuesday. Cantor Fitzgerald started coverage on CVS Health in a report on Monday. They issued an “overweight” rating and a $96.00 price objective on the stock. Finally, Argus raised their price target on CVS Health to $100.00 and gave the stock a “buy” rating in a research note on Tuesday, November 13th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating, fourteen have given a buy rating and two have assigned a strong buy rating to the company. The stock has an average rating of “Buy” and a consensus price target of $91.03.
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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