Boenning & Scattergood Inc. lifted its stake in shares of CVS Health Corp (NYSE:CVS) by 55.5% during the 1st quarter, HoldingsChannel.com reports. The fund owned 75,828 shares of the pharmacy operator’s stock after acquiring an additional 27,074 shares during the period. CVS Health accounts for 1.2% of Boenning & Scattergood Inc.’s portfolio, making the stock its 16th largest position. Boenning & Scattergood Inc.’s holdings in CVS Health were worth $4,090,000 at the end of the most recent quarter.
Several other hedge funds also recently made changes to their positions in the company. BlackRock Inc. raised its holdings in CVS Health by 22.0% in the fourth quarter. BlackRock Inc. now owns 92,954,958 shares of the pharmacy operator’s stock valued at $6,090,409,000 after buying an additional 16,757,941 shares during the period. Vanguard Group Inc raised its holdings in CVS Health by 1.7% in the third quarter. Vanguard Group Inc now owns 84,873,814 shares of the pharmacy operator’s stock valued at $6,681,267,000 after buying an additional 1,445,887 shares during the period. FMR LLC raised its holdings in CVS Health by 30.6% in the fourth quarter. FMR LLC now owns 39,263,265 shares of the pharmacy operator’s stock valued at $2,572,528,000 after buying an additional 9,194,005 shares during the period. Oregon Public Employees Retirement Fund raised its holdings in CVS Health by 6,858.5% in the fourth quarter. Oregon Public Employees Retirement Fund now owns 25,089,377 shares of the pharmacy operator’s stock valued at $383,000 after buying an additional 24,728,818 shares during the period. Finally, Northern Trust Corp raised its holdings in CVS Health by 24.6% in the fourth quarter. Northern Trust Corp now owns 17,939,831 shares of the pharmacy operator’s stock valued at $1,175,418,000 after buying an additional 3,543,504 shares during the period. Institutional investors and hedge funds own 80.39% of the company’s stock.
In related news, Director C David Brown II purchased 10,000 shares of the firm’s stock in a transaction dated Monday, March 11th. The stock was acquired at an average price of $53.18 per share, with a total value of $531,800.00. Following the completion of the transaction, the director now owns 16,222 shares of the company’s stock, valued at $862,685.96. The acquisition was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, SVP James David Clark sold 1,664 shares of the firm’s stock in a transaction that occurred on Friday, March 1st. The stock was sold at an average price of $58.14, for a total transaction of $96,744.96. Following the sale, the senior vice president now directly owns 8,557 shares of the company’s stock, valued at approximately $497,503.98. The disclosure for this sale can be found here. Insiders have bought 23,600 shares of company stock valued at $1,270,896 in the last three months. Corporate insiders own 0.53% of the company’s stock.
Shares of NYSE:CVS opened at $53.52 on Wednesday. The company has a debt-to-equity ratio of 1.45, a current ratio of 0.95 and a quick ratio of 0.64. CVS Health Corp has a 52-week low of $51.72 and a 52-week high of $82.15. The company has a market capitalization of $68.70 billion, a price-to-earnings ratio of 7.56, a PEG ratio of 1.03 and a beta of 0.93.
CVS Health (NYSE:CVS) last issued its quarterly earnings data on Wednesday, May 1st. The pharmacy operator reported $1.62 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.50 by $0.12. CVS Health had a negative net margin of 0.08% and a positive return on equity of 16.80%. The company had revenue of $61.65 billion during the quarter, compared to the consensus estimate of $60.39 billion. During the same quarter last year, the company earned $1.48 earnings per share. CVS Health’s revenue for the quarter was up 34.8% on a year-over-year basis. On average, analysts anticipate that CVS Health Corp will post 6.83 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Friday, May 3rd. Stockholders of record on Tuesday, April 23rd were given a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a dividend yield of 3.74%. The ex-dividend date of this dividend was Monday, April 22nd. CVS Health’s payout ratio is currently 28.25%.
CVS has been the topic of several research reports. ValuEngine lowered shares of CVS Health from a “sell” rating to a “strong sell” rating in a report on Thursday, February 28th. CIBC restated a “market perform” rating on shares of CVS Health in a report on Monday, April 15th. Oppenheimer lowered shares of CVS Health from an “outperform” rating to a “market perform” rating in a report on Monday, April 15th. Argus cut their price target on shares of CVS Health from $100.00 to $80.00 and set a “positive” rating on the stock in a report on Monday, February 25th. Finally, SunTrust Banks lowered their price objective on shares of CVS Health to $85.00 and set a “buy” rating for the company in a research report on Thursday, February 21st. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating, fifteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average target price of $77.62.
CVS Health Company Profile
CVS Health Corporation provides health services and plans in the United States. Its Pharmacy Services segment offers pharmacy benefit management solutions, such as plan design and administration, formulary management, retail pharmacy network management, mail order pharmacy, specialty pharmacy and infusion, Medicare Part D, clinical, disease management, and medical spend management services.
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