Lincoln Capital Corp raised its holdings in CVS Health Corp (NYSE:CVS) by 9.5% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 81,927 shares of the pharmacy operator’s stock after acquiring an additional 7,079 shares during the quarter. CVS Health comprises approximately 4.4% of Lincoln Capital Corp’s holdings, making the stock its 8th largest position. Lincoln Capital Corp’s holdings in CVS Health were worth $5,167,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also bought and sold shares of the company. 1 North Wealth Services LLC acquired a new position in CVS Health during the 3rd quarter valued at $29,000. Centaurus Financial Inc. increased its holdings in CVS Health by 570.8% in the 1st quarter. Centaurus Financial Inc. now owns 1,630 shares of the pharmacy operator’s stock valued at $30,000 after buying an additional 1,387 shares during the period. Manchester Financial Inc. bought a new stake in CVS Health in the 2nd quarter valued at $31,000. Hudock Capital Group LLC increased its holdings in CVS Health by 54.0% in the 2nd quarter. Hudock Capital Group LLC now owns 576 shares of the pharmacy operator’s stock valued at $31,000 after buying an additional 202 shares during the period. Finally, Executive Wealth Management LLC increased its holdings in CVS Health by 62.4% in the 2nd quarter. Executive Wealth Management LLC now owns 565 shares of the pharmacy operator’s stock valued at $31,000 after buying an additional 217 shares during the period. Hedge funds and other institutional investors own 76.17% of the company’s stock.
CVS has been the topic of several analyst reports. Royal Bank of Canada initiated coverage on shares of CVS Health in a report on Friday, September 27th. They issued an “outperform” rating and a $85.00 price target on the stock. Cowen set a $76.00 price target on shares of CVS Health and gave the company a “buy” rating in a report on Monday, October 21st. Deutsche Bank initiated coverage on shares of CVS Health in a report on Thursday, September 12th. They issued a “buy” rating and a $91.00 price target on the stock. TheStreet raised shares of CVS Health from a “c+” rating to a “b-” rating in a report on Monday, September 9th. Finally, Barclays boosted their price target on shares of CVS Health from $75.00 to $79.00 and gave the company an “overweight” rating in a report on Thursday. One analyst has rated the stock with a sell rating, seven have assigned a hold rating, eighteen have assigned a buy rating and one has issued a strong buy rating to the stock. CVS Health has an average rating of “Buy” and an average price target of $77.59.
CVS Health (NYSE:CVS) last posted its earnings results on Wednesday, November 6th. The pharmacy operator reported $1.84 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.77 by $0.07. CVS Health had a net margin of 1.91% and a return on equity of 16.15%. The business had revenue of $64.81 billion for the quarter, compared to analyst estimates of $62.99 billion. During the same quarter in the prior year, the firm earned $1.73 EPS. The firm’s quarterly revenue was up 36.5% compared to the same quarter last year. Equities analysts predict that CVS Health Corp will post 6.99 EPS for the current fiscal year.
The company 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 annualized dividend and a dividend yield of 2.76%. The ex-dividend date was Wednesday, October 23rd. CVS Health’s payout ratio is 28.25%.
In related news, CFO Eva C. Boratto sold 8,130 shares of the company’s 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 transaction, the chief financial officer now owns 55,273 shares in the company, valued at approximately $3,592,745. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP Troyen A. Brennan sold 23,604 shares of the company’s stock in a transaction dated Monday, November 4th. The stock was sold at an average price of $68.00, for a total transaction of $1,605,072.00. Following the transaction, the executive vice president now 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 ninety days, insiders sold 49,437 shares of company stock worth $3,248,811. 0.53% of the stock is owned by insiders.
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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