Boys Arnold & Co. Inc. Has $4.71 Million Holdings in CVS Health Corp (CVS)

Boys Arnold & Co. Inc. raised its position in CVS Health Corp (NYSE:CVS) by 6.2% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 59,194 shares of the pharmacy operator’s stock after acquiring an additional 3,469 shares during the quarter. Boys Arnold & Co. Inc.’s holdings in CVS Health were worth $4,706,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Adviser Investments LLC boosted its stake in shares of CVS Health by 43.3% during the 2nd quarter. Adviser Investments LLC now owns 2,993 shares of the pharmacy operator’s stock valued at $193,000 after purchasing an additional 905 shares in the last quarter. Keystone Financial Planning Inc. boosted its stake in shares of CVS Health by 44.5% during the 2nd quarter. Keystone Financial Planning Inc. now owns 59,038 shares of the pharmacy operator’s stock valued at $3,799,000 after purchasing an additional 18,176 shares in the last quarter. Schwab Charles Investment Management Inc. boosted its stake in shares of CVS Health by 4.3% during the 2nd quarter. Schwab Charles Investment Management Inc. now owns 7,332,665 shares of the pharmacy operator’s stock valued at $471,857,000 after purchasing an additional 300,887 shares in the last quarter. Waddell & Reed Financial Inc. boosted its stake in shares of CVS Health by 21.5% during the 2nd quarter. Waddell & Reed Financial Inc. now owns 993,394 shares of the pharmacy operator’s stock valued at $63,925,000 after purchasing an additional 175,725 shares in the last quarter. Finally, Ronna Sue Cohen boosted its stake in shares of CVS Health by 4.0% during the 3rd quarter. Ronna Sue Cohen now owns 59,741 shares of the pharmacy operator’s stock valued at $4,703,000 after purchasing an additional 2,288 shares in the last quarter. Hedge funds and other institutional investors own 82.42% of the company’s stock.

NYSE:CVS opened at $80.05 on Friday. CVS Health Corp has a one year low of $60.14 and a one year high of $83.88. The company has a debt-to-equity ratio of 1.66, a quick ratio of 1.87 and a current ratio of 2.44. The stock has a market cap of $79.31 billion, a P/E ratio of 13.57, a price-to-earnings-growth ratio of 1.04 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 EPS for the quarter, topping the consensus estimate of $1.71 by $0.02. CVS Health had a net margin of 1.65% and a return on equity of 18.69%. The business had revenue of $47.27 billion for the quarter, compared to analyst estimates of $47.22 billion. During the same quarter in the previous year, the firm posted $1.50 earnings per share. CVS Health’s quarterly revenue was up 2.4% on a year-over-year basis. Research analysts anticipate that CVS Health Corp will post 7.04 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, November 1st. Investors of record on Wednesday, October 24th were paid a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a yield of 2.50%. The ex-dividend date was Tuesday, October 23rd. CVS Health’s payout ratio is currently 33.90%.

A number of equities research analysts have recently weighed in on CVS shares. ValuEngine raised shares of CVS Health from a “sell” rating to a “hold” rating in a research note on Tuesday. Bank of America lifted their target price on shares of CVS Health from $86.00 to $90.00 and gave the company a “buy” rating in a research note on Monday, September 17th. Royal Bank of Canada reaffirmed a “buy” rating and set a $90.00 target price on shares of CVS Health in a research note on Wednesday, August 8th. Finally, Tigress Financial reaffirmed a “buy” rating on shares of CVS Health in a research note on Friday, October 26th. One investment analyst has rated the stock with a sell rating, five have given a hold rating, ten have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus target price of $88.58.

In related news, EVP Kevin Hourican sold 8,564 shares of the business’s stock in a transaction dated Monday, August 27th. The shares were sold at an average price of $75.00, for a total transaction of $642,300.00. Following the sale, the executive vice president now owns 12,135 shares of the company’s stock, valued at $910,125. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Lisa Bisaccia sold 21,534 shares of the business’s stock in a transaction dated Monday, October 1st. The stock was sold at an average price of $80.00, for a total transaction of $1,722,720.00. The disclosure for this sale can be found here. Insiders have sold 43,409 shares of company stock worth $3,392,097 in the last three months. 0.53% of the stock is currently owned by insiders.

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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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Institutional Ownership by Quarter for CVS Health (NYSE:CVS)

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