Robeco Institutional Asset Management B.V. reduced its position in CVS Health Corporation (NYSE:CVS) by 42.7% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 280,720 shares of the pharmacy operator’s stock after selling 209,222 shares during the quarter. Robeco Institutional Asset Management B.V.’s holdings in CVS Health Corporation were worth $22,586,000 at the end of the most recent quarter.
Other hedge funds have also recently added to or reduced their stakes in the company. Gemmer Asset Management LLC raised its stake in shares of CVS Health Corporation by 15.3% during the second quarter. Gemmer Asset Management LLC now owns 1,509 shares of the pharmacy operator’s stock worth $121,000 after acquiring an additional 200 shares in the last quarter. TB Alternative Assets Ltd. purchased a new position in shares of CVS Health Corporation during the second quarter worth approximately $121,000. SRS Capital Advisors Inc. raised its stake in shares of CVS Health Corporation by 48.2% during the first quarter. SRS Capital Advisors Inc. now owns 2,256 shares of the pharmacy operator’s stock worth $177,000 after acquiring an additional 734 shares in the last quarter. Grace & White Inc. NY purchased a new position in shares of CVS Health Corporation during the second quarter worth approximately $199,000. Finally, Nadler Financial Group Inc. purchased a new position in shares of CVS Health Corporation during the second quarter worth approximately $202,000. Institutional investors own 82.04% of the company’s stock.
Several research analysts have commented on the stock. Jefferies Group LLC decreased their price target on shares of CVS Health Corporation from $86.00 to $76.00 and set a “hold” rating on the stock in a research note on Tuesday, November 7th. Leerink Swann reaffirmed an “outperform” rating and issued a $85.00 target price (down from $90.00) on shares of CVS Health Corporation in a research note on Tuesday, November 7th. Loop Capital cut their price target on shares of CVS Health Corporation from $83.00 to $73.00 and set a “hold” rating on the stock in a report on Tuesday, November 7th. BidaskClub upgraded shares of CVS Health Corporation from a “sell” rating to a “hold” rating in a report on Wednesday, August 2nd. Finally, Needham & Company LLC upgraded shares of CVS Health Corporation from a “hold” rating to a “buy” rating and lifted their price target for the company from $69.02 to $79.00 in a report on Friday. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and fourteen have assigned a buy rating to the stock. The company currently has an average rating of “Buy” and an average price target of $85.82.
In other news, CFO David M. Denton sold 237,078 shares of CVS Health Corporation stock in a transaction that occurred on Monday, September 11th. The stock was sold at an average price of $79.65, for a total value of $18,883,262.70. Following the sale, the chief financial officer now directly owns 141,096 shares of the company’s stock, valued at $11,238,296.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Richard J. Swift sold 2,500 shares of CVS Health Corporation stock in a transaction that occurred on Wednesday, August 16th. The stock was sold at an average price of $79.62, for a total value of $199,050.00. Following the completion of the sale, the director now directly owns 3,258 shares in the company, valued at $259,401.96. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 716,625 shares of company stock valued at $58,318,431. 0.61% of the stock is owned by company insiders.
CVS Health Corporation (CVS) opened at $71.48 on Tuesday. CVS Health Corporation has a 12-month low of $66.45 and a 12-month high of $84.72. The company has a debt-to-equity ratio of 0.67, a quick ratio of 0.55 and a current ratio of 1.05. The stock has a market capitalization of $71,912.30, a price-to-earnings ratio of 12.43, a PEG ratio of 1.22 and a beta of 0.86.
CVS Health Corporation (NYSE:CVS) last issued its quarterly earnings results on Monday, November 6th. The pharmacy operator reported $1.50 earnings per share for the quarter, topping the consensus estimate of $1.49 by $0.01. The business had revenue of $46.18 billion during the quarter, compared to the consensus estimate of $46.17 billion. CVS Health Corporation had a return on equity of 16.96% and a net margin of 2.77%. The company’s quarterly revenue was up 3.5% on a year-over-year basis. During the same quarter last year, the company earned $1.64 earnings per share. research analysts forecast that CVS Health Corporation will post 5.89 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Friday, November 3rd. Investors of record on Tuesday, October 24th were given a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a yield of 2.80%. The ex-dividend date was Monday, October 23rd. CVS Health Corporation’s dividend payout ratio is currently 41.32%.
CVS Health Corporation Profile
CVS Health Corporation, together with its subsidiaries, is an integrated pharmacy healthcare company. The Company provides pharmacy care for the senior community through Omnicare, Inc (Omnicare) and Omnicare’s long-term care (LTC) operations, which include distribution of pharmaceuticals, related pharmacy consulting and other ancillary services to chronic care facilities and other care settings.
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