North American Management Corp lifted its holdings in CVS Health Corp (NYSE:CVS) by 3.3% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 12,482 shares of the pharmacy operator’s stock after buying an additional 398 shares during the period. North American Management Corp’s holdings in CVS Health were worth $680,000 as of its most recent SEC filing.
Other institutional investors have also modified their holdings of the company. Bay Harbor Wealth Management LLC boosted its position in shares of CVS Health by 1,871.4% in the first quarter. Bay Harbor Wealth Management LLC now owns 552 shares of the pharmacy operator’s stock worth $30,000 after buying an additional 524 shares during the period. Centaurus Financial Inc. boosted its position in shares of CVS Health by 570.8% in the first quarter. Centaurus Financial Inc. now owns 1,630 shares of the pharmacy operator’s stock worth $30,000 after buying an additional 1,387 shares during the period. Manchester Financial Inc. acquired a new stake in shares of CVS Health in the second quarter worth $31,000. Hudock Capital Group LLC boosted its position in shares of CVS Health by 54.0% in the second quarter. Hudock Capital Group LLC now owns 576 shares of the pharmacy operator’s stock worth $31,000 after buying an additional 202 shares during the period. Finally, C J Advisory Inc acquired a new stake in shares of CVS Health in the first quarter worth $33,000. 77.33% of the stock is owned by institutional investors and hedge funds.
Several analysts recently issued reports on CVS shares. Raymond James cut their price objective on CVS Health from $90.00 to $75.00 and set a “strong-buy” rating for the company in a report on Thursday, April 18th. Mizuho set a $71.00 target price on CVS Health and gave the company a “buy” rating in a report on Wednesday, June 5th. Guggenheim began coverage on CVS Health in a report on Thursday, April 18th. They set a “buy” rating and a $75.00 target price on the stock. Evercore ISI set a $63.00 target price on CVS Health and gave the company a “buy” rating in a report on Wednesday. Finally, Cantor Fitzgerald restated a “buy” rating and set a $80.00 target price on shares of CVS Health 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 given a buy rating and one has issued a strong buy rating to the company. CVS Health currently has an average rating of “Buy” and an average price target of $75.14.
CVS Health (NYSE:CVS) last posted its quarterly earnings data on Wednesday, August 7th. The pharmacy operator reported $1.89 EPS for the quarter, topping analysts’ consensus estimates of $1.70 by $0.19. The business had revenue of $63.43 billion for the quarter, compared to analyst estimates of $62.66 billion. CVS Health had a return on equity of 16.15% and a net margin of 1.91%. The firm’s revenue for the quarter was up 35.2% on a year-over-year basis. During the same period in the previous year, the company posted $1.69 earnings per share. On average, equities research analysts anticipate that CVS Health Corp will post 6.96 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 2nd. Stockholders of record on Thursday, July 25th were paid a $0.50 dividend. The ex-dividend date of this dividend was Wednesday, July 24th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 3.37%. CVS Health’s payout ratio is presently 28.25%.
About CVS Health
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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