Cox Capital Mgt LLC acquired a new position in shares of CVS Health Corp (NYSE:CVS) during the second quarter, Holdings Channel reports. The institutional investor acquired 6,708 shares of the pharmacy operator’s stock, valued at approximately $366,000.
Other institutional investors also recently bought and sold shares of the company. Bay Harbor Wealth Management LLC increased its position in shares of CVS Health by 1,871.4% during the first quarter. Bay Harbor Wealth Management LLC now owns 552 shares of the pharmacy operator’s stock worth $30,000 after acquiring an additional 524 shares during the period. Murphy Pohlad Asset Management LLC bought a new stake in CVS Health in the fourth quarter valued at approximately $39,000. C J Advisory Inc bought a new stake in CVS Health in the first quarter valued at approximately $33,000. Capital Financial Planning LLC bought a new stake in CVS Health in the fourth quarter valued at approximately $44,000. Finally, Somerset Trust Co boosted its holdings in CVS Health by 152.7% in the first quarter. Somerset Trust Co now owns 758 shares of the pharmacy operator’s stock valued at $41,000 after acquiring an additional 458 shares during the last quarter. 77.33% of the stock is currently owned by institutional investors and hedge funds.
CVS has been the topic of several analyst reports. SunTrust Banks reduced their target price on CVS Health from $85.00 to $65.00 in a report on Wednesday, April 10th. Morgan Stanley raised their target price on Thomson Reuters from $66.00 to $67.00 and gave the stock an “overweight” rating in a research note on Monday, April 29th. Barclays set a $325.00 target price on Align Technology and gave the stock a “buy” rating in a research note on Thursday, April 11th. Credit Suisse Group restated a “sell” rating and issued a $6.50 target price on shares of Deutsche Bank in a research note on Monday, April 29th. Finally, Cantor Fitzgerald reaffirmed a “buy” rating and issued a $60.00 price target on shares of Benefitfocus in a report on Wednesday, May 1st. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating, sixteen have issued a buy rating and one has assigned a strong buy rating to the stock. The company currently has an average rating of “Buy” and a consensus price target of $76.48.
Shares of NYSE:CVS traded up $0.79 on Tuesday, hitting $56.27. The company’s stock had a trading volume of 6,761,696 shares, compared to its average volume of 11,467,267. The firm’s 50-day moving average price is $54.98. CVS Health Corp has a 1 year low of $51.72 and a 1 year high of $82.15. The stock has a market cap of $72.67 billion, a P/E ratio of 7.95, a PEG ratio of 1.26 and a beta of 0.88. The company has a quick ratio of 0.64, a current ratio of 0.95 and a debt-to-equity ratio of 1.45.
CVS Health (NYSE:CVS) last released its quarterly earnings results on Wednesday, May 1st. The pharmacy operator reported $1.62 earnings per share for the quarter, beating the consensus estimate of $1.50 by $0.12. The firm had revenue of $61.65 billion for the quarter, compared to analysts’ expectations of $60.39 billion. CVS Health had a positive return on equity of 16.80% and a negative net margin of 0.08%. The company’s revenue was up 34.8% compared to the same quarter last year. During the same quarter last year, the firm posted $1.48 EPS. Sell-side analysts anticipate that CVS Health Corp will post 6.84 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 2nd. Investors of record on Thursday, July 25th will be issued a dividend of $0.50 per share. The ex-dividend date of this dividend is Wednesday, July 24th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 3.55%. CVS Health’s dividend payout ratio is 28.25%.
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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