CVS Health Corp (NYSE:CVS) Shares Purchased by Northwestern Mutual Investment Management Company LLC

Northwestern Mutual Investment Management Company LLC boosted its position in CVS Health Corp (NYSE:CVS) by 0.5% in the 3rd quarter, HoldingsChannel reports. The firm owned 49,525 shares of the pharmacy operator’s stock after purchasing an additional 250 shares during the period. Northwestern Mutual Investment Management Company LLC’s holdings in CVS Health were worth $3,124,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of the business. Vanguard Group Inc. grew its holdings in CVS Health by 1.2% in the 2nd quarter. Vanguard Group Inc. now owns 102,367,899 shares of the pharmacy operator’s stock valued at $5,578,027,000 after buying an additional 1,167,143 shares during the period. Northern Trust Corp grew its holdings in shares of CVS Health by 1.1% during the 2nd quarter. Northern Trust Corp now owns 18,328,099 shares of the pharmacy operator’s stock worth $998,699,000 after purchasing an additional 205,275 shares during the period. Macquarie Group Ltd. grew its holdings in shares of CVS Health by 10.9% during the 2nd quarter. Macquarie Group Ltd. now owns 13,905,440 shares of the pharmacy operator’s stock worth $757,707,000 after purchasing an additional 1,372,275 shares during the period. Morgan Stanley raised its position in shares of CVS Health by 12.8% in the 2nd quarter. Morgan Stanley now owns 13,765,635 shares of the pharmacy operator’s stock valued at $750,088,000 after purchasing an additional 1,560,142 shares in the last quarter. Finally, Veritas Asset Management LLP raised its position in shares of CVS Health by 0.7% in the 2nd quarter. Veritas Asset Management LLP now owns 12,269,758 shares of the pharmacy operator’s stock valued at $668,579,000 after purchasing an additional 90,700 shares in the last quarter. Institutional investors own 75.92% of the company’s stock.

In other CVS Health news, EVP Troyen A. Brennan sold 23,604 shares of the stock in a transaction on Monday, November 4th. The stock was sold at an average price of $68.00, for a total value of $1,605,072.00. Following the sale, the executive vice president now directly owns 107,921 shares of the company’s stock, valued at $7,338,628. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Eva C. Boratto sold 8,130 shares of the stock in a transaction on Thursday, September 12th. The stock was sold at an average price of $65.00, for a total value of $528,450.00. Following the completion of 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. Insiders sold 49,437 shares of company stock worth $3,248,811 over the last ninety days. 0.53% of the stock is owned by corporate insiders.

A number of equities analysts have issued reports on the company. SunTrust Banks upped their target price on CVS Health to $85.00 and gave the company a “buy” rating in a research report on Thursday, November 7th. Deutsche Bank assumed coverage on CVS Health in a research report on Thursday, September 12th. They issued a “buy” rating and a $91.00 target price on the stock. Royal Bank of Canada assumed coverage on CVS Health in a research report on Friday, September 27th. They issued an “outperform” rating and a $85.00 target price on the stock. TheStreet raised CVS Health from a “c+” rating to a “b-” rating in a research report on Monday, September 9th. Finally, Mizuho upped their price target on CVS Health from $71.00 to $82.00 and gave the company a “buy” rating in a research report on Friday, November 8th. One research analyst has rated the stock with a sell rating, seven have given a hold rating, eighteen have issued a buy rating and one has assigned a strong buy rating to the company. The company has a consensus rating of “Buy” and an average price target of $77.59.

NYSE CVS traded up $0.47 during trading hours on Wednesday, hitting $72.82. The company had a trading volume of 5,103,959 shares, compared to its average volume of 10,096,409. CVS Health Corp has a fifty-two week low of $51.72 and a fifty-two week high of $82.15. The company has a quick ratio of 0.61, a current ratio of 0.92 and a debt-to-equity ratio of 1.32. The business has a fifty day simple moving average of $65.15 and a 200-day simple moving average of $58.83. The firm has a market cap of $94.28 billion, a P/E ratio of 10.29, a price-to-earnings-growth ratio of 1.57 and a beta of 0.86.

CVS Health (NYSE:CVS) last issued 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 return on equity of 15.45% and a net margin of 1.83%. The firm had revenue of $64.81 billion for the quarter, compared to analyst estimates of $62.99 billion. During the same period last year, the company earned $1.73 earnings per share. The firm’s revenue for the quarter was up 36.5% on a year-over-year basis. Equities analysts forecast that CVS Health Corp will post 7.01 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which was paid on Monday, November 4th. Shareholders of record on Thursday, October 24th were given a $0.50 dividend. This represents a $2.00 annualized dividend and a yield of 2.75%. The ex-dividend date of this dividend was Wednesday, October 23rd. CVS Health’s dividend payout ratio is presently 28.25%.

CVS Health 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.

Further Reading: What does an outperform rating mean?

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

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