Notis McConarty Edward increased its holdings in shares of CVS Health Corp (NYSE:CVS) by 1.4% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 51,585 shares of the pharmacy operator’s stock after purchasing an additional 695 shares during the quarter. CVS Health makes up approximately 1.5% of Notis McConarty Edward’s portfolio, making the stock its 22nd biggest position. Notis McConarty Edward’s holdings in CVS Health were worth $3,253,000 as of its most recent SEC filing.
Other hedge funds have also bought and sold shares of the company. 1 North Wealth Services LLC purchased a new stake in CVS Health during the third quarter worth approximately $29,000. Executive Wealth Management LLC lifted its stake in CVS Health by 62.4% during the second quarter. Executive Wealth Management LLC now owns 565 shares of the pharmacy operator’s stock worth $31,000 after purchasing an additional 217 shares during the last quarter. Manchester Financial Inc. purchased a new stake in CVS Health during the second quarter worth approximately $31,000. Hudock Capital Group LLC increased its position in CVS Health by 54.0% during 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, Tarbox Family Office Inc. increased its position in CVS Health by 74.7% during the second quarter. Tarbox Family Office Inc. now owns 580 shares of the pharmacy operator’s stock worth $32,000 after buying an additional 248 shares during the period. Hedge funds and other institutional investors own 76.17% of the company’s stock.
Several research analysts have commented on the company. UBS Group reaffirmed a “buy” rating and set a $78.00 price target on shares of CVS Health in a research report on Thursday. TheStreet raised CVS Health from a “c+” rating to a “b-” rating in a research report on Monday, September 9th. Deutsche Bank assumed coverage on CVS Health in a research report on Thursday, September 12th. They set a “buy” rating and a $91.00 price target on the stock. Royal Bank of Canada assumed coverage on CVS Health in a research report on Friday, September 27th. They set an “outperform” rating and a $85.00 price target on the stock. Finally, ValuEngine raised CVS Health from a “strong sell” rating to a “sell” rating in a research report on Wednesday, October 2nd. One analyst has rated the stock with a sell rating, seven have assigned a hold rating, eighteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus price target of $78.17.
CVS Health (NYSE:CVS) last released its earnings results on Wednesday, November 6th. The pharmacy operator reported $1.84 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.77 by $0.07. The business had revenue of $64.81 billion for the quarter, compared to analyst estimates of $62.99 billion. CVS Health had a return on equity of 16.15% and a net margin of 1.91%. The company’s revenue for the quarter was up 36.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.73 earnings per share. On average, equities analysts anticipate that CVS Health Corp will post 6.99 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Monday, November 4th. Stockholders of record on Thursday, October 24th were issued a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a dividend yield of 2.76%. The ex-dividend date of this dividend was Wednesday, October 23rd. CVS Health’s payout ratio is currently 28.25%.
In other news, EVP Joshua Matthew Flum sold 17,703 shares of the business’s stock in a transaction that occurred on Monday, September 30th. The stock was sold at an average price of $63.00, for a total value of $1,115,289.00. Following the transaction, the executive vice president now owns 36,163 shares of the company’s stock, valued at $2,278,269. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Troyen A. Brennan sold 23,604 shares of the business’s stock in a transaction that occurred on Monday, November 4th. The shares were sold at an average price of $68.00, for a total value of $1,605,072.00. Following the completion of the transaction, the executive vice president now directly owns 107,921 shares in the company, valued at approximately $7,338,628. The disclosure for this sale can be found here. In the last three months, insiders sold 49,437 shares of company stock worth $3,248,811. Corporate insiders own 0.53% of the company’s stock.
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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