Dearborn Partners LLC decreased its holdings in CVS Health Corp (NYSE:CVS) by 5.9% during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 9,992 shares of the pharmacy operator’s stock after selling 630 shares during the period. Dearborn Partners LLC’s holdings in CVS Health were worth $649,000 at the end of the most recent quarter.
A number of other large investors have also added to or reduced their stakes in CVS. New England Investment & Retirement Group Inc. bought a new stake in CVS Health in the first quarter valued at approximately $25,000. PrairieView Partners LLC bought a new stake in CVS Health in the first quarter valued at approximately $29,000. Marquette Asset Management LLC raised its stake in CVS Health by 148.9% in the first quarter. Marquette Asset Management LLC now owns 560 shares of the pharmacy operator’s stock valued at $33,000 after buying an additional 335 shares during the period. Nelson Van Denburg & Campbell Wealth Management Group LLC raised its stake in CVS Health by 327.3% in the first quarter. Nelson Van Denburg & Campbell Wealth Management Group LLC now owns 594 shares of the pharmacy operator’s stock valued at $35,000 after buying an additional 455 shares during the period. Finally, Exchange Traded Concepts LLC bought a new stake in CVS Health in the second quarter valued at approximately $41,000. Hedge funds and other institutional investors own 76.04% of the company’s stock.
Several equities analysts have recently commented on CVS shares. Tigress Financial reaffirmed a “buy” rating on shares of CVS Health in a research report on Friday, April 24th. JPMorgan Chase & Co. decreased their target price on CVS Health from $97.00 to $94.00 and set an “overweight” rating on the stock in a research report on Monday, May 4th. Credit Suisse Group raised CVS Health from a “neutral” rating to an “outperform” rating and set a $75.00 target price on the stock in a research report on Thursday, May 14th. They noted that the move was a valuation call. Citigroup decreased their target price on CVS Health from $86.00 to $75.00 and set a “buy” rating on the stock in a research report on Thursday, May 7th. Finally, Robert W. Baird upped their target price on CVS Health from $62.00 to $66.00 and gave the company a “neutral” rating in a research report on Thursday, May 7th. One analyst has rated the stock with a sell rating, three have issued a hold rating, fourteen have issued a buy rating and two have assigned a strong buy rating to the company. The company currently has a consensus rating of “Buy” and an average price target of $80.35.
NYSE:CVS traded down $1.06 during trading hours on Friday, reaching $62.94. 9,200,682 shares of the company were exchanged, compared to its average volume of 6,159,701. The company has a market capitalization of $82.27 billion, a P/E ratio of 11.40, a P/E/G ratio of 1.39 and a beta of 0.76. CVS Health Corp has a 1-year low of $52.04 and a 1-year high of $77.03. The company has a debt-to-equity ratio of 1.29, a current ratio of 0.99 and a quick ratio of 0.70. The business has a 50 day moving average of $63.99 and a 200 day moving average of $64.46.
CVS Health (NYSE:CVS) last issued its quarterly earnings results on Wednesday, May 6th. The pharmacy operator reported $1.91 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.63 by $0.28. The business had revenue of $66.76 billion for the quarter, compared to the consensus estimate of $64.11 billion. CVS Health had a return on equity of 15.17% and a net margin of 2.76%. The firm’s quarterly revenue was up 8.3% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.62 earnings per share. As a group, equities research analysts anticipate that CVS Health Corp will post 7.11 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Monday, August 3rd. Shareholders of record on Thursday, July 23rd will be issued a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a dividend yield of 3.18%. The ex-dividend date is Wednesday, July 22nd. 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.
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