Legacy Private Trust Co. Buys 20,919 Shares of CVS Health Corp (NYSE:CVS)

Legacy Private Trust Co. grew its stake in CVS Health Corp (NYSE:CVS) by 140.8% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 35,777 shares of the pharmacy operator’s stock after purchasing an additional 20,919 shares during the quarter. Legacy Private Trust Co.’s holdings in CVS Health were worth $2,256,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently modified their holdings of the business. We Are One Seven LLC raised its holdings in CVS Health by 1.9% in the 3rd quarter. We Are One Seven LLC now owns 27,436 shares of the pharmacy operator’s stock worth $1,730,000 after purchasing an additional 510 shares in the last quarter. Artemis Investment Management LLP bought a new position in CVS Health in the 3rd quarter worth $41,422,000. Gradient Investments LLC raised its holdings in CVS Health by 78.3% in the 3rd quarter. Gradient Investments LLC now owns 617 shares of the pharmacy operator’s stock worth $39,000 after purchasing an additional 271 shares in the last quarter. Gofen & Glossberg LLC IL raised its holdings in CVS Health by 4.5% in the 3rd quarter. Gofen & Glossberg LLC IL now owns 37,738 shares of the pharmacy operator’s stock worth $2,380,000 after purchasing an additional 1,634 shares in the last quarter. Finally, Altfest L J & Co. Inc. raised its holdings in CVS Health by 175.2% in the 3rd quarter. Altfest L J & Co. Inc. now owns 12,300 shares of the pharmacy operator’s stock worth $776,000 after purchasing an additional 7,830 shares in the last quarter. Institutional investors and hedge funds own 75.91% of the company’s stock.

In related news, EVP Joshua Matthew Flum sold 17,703 shares of the stock in a transaction dated Monday, September 30th. The shares were sold at an average price of $63.00, for a total transaction of $1,115,289.00. Following the sale, the executive vice president now directly owns 36,163 shares of the company’s stock, valued at approximately $2,278,269. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Eva C. Boratto sold 8,130 shares of the stock in a transaction dated Thursday, September 12th. The shares were sold at an average price of $65.00, for a total transaction of $528,450.00. Following the sale, the chief financial officer now directly owns 55,273 shares in the company, valued at $3,592,745. The disclosure for this sale can be found here. Corporate insiders own 0.53% of the company’s stock.

CVS has been the subject of several research reports. Evercore ISI set a $63.00 price objective on shares of CVS Health and gave the stock a “buy” rating in a report on Wednesday, August 7th. Citigroup upped their price objective on shares of CVS Health from $68.00 to $72.00 and gave the stock a “buy” rating in a report on Thursday, August 8th. Cowen restated an “outperform” rating and issued a $76.00 price objective (up from $69.00) on shares of CVS Health in a report on Tuesday, August 27th. TheStreet upgraded shares of CVS Health from a “c+” rating to a “b-” rating in a report on Monday, September 9th. Finally, Morgan Stanley upped their target price on shares of CVS Health from $74.00 to $77.00 and gave the stock an “overweight” rating in a research report on Thursday, September 26th. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating, eighteen have issued a buy rating and one has given a strong buy rating to the company’s stock. The company has an average rating of “Buy” and an average target price of $75.39.

Shares of NYSE:CVS traded up $1.34 during midday trading on Thursday, reaching $62.14. The company’s stock had a trading volume of 6,206,275 shares, compared to its average volume of 6,401,102. The firm has a 50 day moving average of $62.11 and a 200-day moving average of $56.68. The firm has a market capitalization of $80.62 billion, a P/E ratio of 8.78, a PEG ratio of 1.35 and a beta of 0.86. The company has a quick ratio of 0.64, a current ratio of 0.95 and a debt-to-equity ratio of 1.39. CVS Health Corp has a 12-month low of $51.72 and a 12-month high of $82.15.

CVS Health (NYSE:CVS) last announced its quarterly earnings data on Wednesday, August 7th. The pharmacy operator reported $1.89 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.70 by $0.19. CVS Health had a net margin of 1.91% and a return on equity of 16.15%. The company had revenue of $63.43 billion for the quarter, compared to the consensus estimate of $62.66 billion. During the same period in the prior year, the firm posted $1.69 EPS. CVS Health’s revenue for the quarter was up 35.2% on a year-over-year basis. On average, research analysts predict that CVS Health Corp will post 6.97 EPS for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Monday, November 4th. Investors of record on Thursday, October 24th will be given a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a yield of 3.22%. The ex-dividend date of this dividend is Wednesday, October 23rd. CVS Health’s dividend payout ratio (DPR) 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.

See Also: Current Ratio

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

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