US Bancorp DE reduced its stake in shares of CVS Health Corp (NYSE:CVS) by 0.7% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,328,743 shares of the pharmacy operator’s stock after selling 9,687 shares during the quarter. US Bancorp DE’s holdings in CVS Health were worth $104,598,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds also recently modified their holdings of CVS. Fisher Asset Management LLC grew its holdings in CVS Health by 5.7% in the second quarter. Fisher Asset Management LLC now owns 317,675 shares of the pharmacy operator’s stock worth $20,442,000 after purchasing an additional 17,250 shares during the period. Trust Co. of Vermont grew its holdings in CVS Health by 3.1% in the second quarter. Trust Co. of Vermont now owns 26,186 shares of the pharmacy operator’s stock worth $1,685,000 after purchasing an additional 776 shares during the period. Ledyard National Bank grew its holdings in CVS Health by 7.4% in the second quarter. Ledyard National Bank now owns 63,503 shares of the pharmacy operator’s stock worth $4,086,000 after purchasing an additional 4,364 shares during the period. Adams Asset Advisors LLC purchased a new stake in CVS Health in the second quarter worth about $5,454,000. Finally, BLB&B Advisors LLC grew its holdings in CVS Health by 30.2% in the second quarter. BLB&B Advisors LLC now owns 14,753 shares of the pharmacy operator’s stock worth $949,000 after purchasing an additional 3,423 shares during the period. Hedge funds and other institutional investors own 82.42% of the company’s stock.
A number of brokerages have weighed in on CVS. Leerink Swann restated a “positive” rating and issued a $95.00 price objective (up previously from $85.00) on shares of CVS Health in a report on Thursday. Morgan Stanley set a $100.00 price objective on shares of CVS Health and gave the stock a “buy” rating in a report on Wednesday. Wolfe Research began coverage on shares of CVS Health in a report on Thursday, October 25th. They issued a “peer perform” rating on the stock. Royal Bank of Canada set a $99.00 price objective on shares of CVS Health and gave the stock a “buy” rating in a report on Tuesday, October 23rd. Finally, ValuEngine cut shares of CVS Health from a “sell” rating to a “strong sell” rating in a report on Tuesday, September 4th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating, ten have issued a buy rating and two have assigned a strong buy rating to the stock. CVS Health presently has a consensus rating of “Buy” and a consensus target price of $88.58.
NYSE:CVS opened at $80.05 on Friday. CVS Health Corp has a 52 week low of $60.14 and a 52 week 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 company has a market cap of $79.31 billion, a PE ratio of 13.57, a PEG ratio of 1.04 and a beta of 0.98.
CVS Health (NYSE:CVS) last posted its quarterly earnings results on Tuesday, November 6th. The pharmacy operator reported $1.73 EPS for the quarter, beating the Zacks’ 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 firm had revenue of $47.27 billion for the quarter, compared to analysts’ expectations of $47.22 billion. During the same quarter in the prior year, the company posted $1.50 earnings per share. The business’s revenue for the quarter was up 2.4% on a year-over-year basis. As a group, equities analysts predict that CVS Health Corp will post 7.05 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Thursday, November 1st. Investors of record on Wednesday, October 24th were given a dividend of $0.50 per share. The ex-dividend date was Tuesday, October 23rd. This represents a $2.00 dividend on an annualized basis and a yield of 2.50%. CVS Health’s dividend payout ratio (DPR) is 33.90%.
CVS Health Company Profile
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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