Lowe Brockenbrough & Co. Inc. trimmed its position in shares of CVS Health Corp (NYSE:CVS) by 9.8% during the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 26,974 shares of the pharmacy operator’s stock after selling 2,934 shares during the period. Lowe Brockenbrough & Co. Inc.’s holdings in CVS Health were worth $2,194,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Narwhal Capital Management grew its holdings in shares of CVS Health by 96.9% during the 2nd quarter. Narwhal Capital Management now owns 32,070 shares of the pharmacy operator’s stock valued at $2,580,000 after acquiring an additional 15,780 shares in the last quarter. Pennsylvania Trust Co lifted its stake in shares of CVS Health by 38.4% in the 2nd quarter. Pennsylvania Trust Co now owns 173,995 shares of the pharmacy operator’s stock valued at $14,000,000 after purchasing an additional 48,265 shares during the last quarter. Stokes & Hubbell Capital Management LLC acquired a new stake in shares of CVS Health in the 2nd quarter valued at $2,492,000. NN Investment Partners Holdings N.V. lifted its stake in shares of CVS Health by 141.2% in the 2nd quarter. NN Investment Partners Holdings N.V. now owns 1,427,210 shares of the pharmacy operator’s stock valued at $114,832,000 after purchasing an additional 835,476 shares during the last quarter. Finally, Bank of The West lifted its stake in shares of CVS Health by 3.3% in the 2nd quarter. Bank of The West now owns 85,739 shares of the pharmacy operator’s stock valued at $6,899,000 after purchasing an additional 2,732 shares during the last quarter. Hedge funds and other institutional investors own 81.69% of the company’s stock.
Several research firms recently issued reports on CVS. Cowen reaffirmed an “outperform” rating and issued a $99.00 price objective (up previously from $81.00) on shares of CVS Health in a research note on Thursday. Vetr lowered shares of CVS Health from a “hold” rating to a “sell” rating and set a $76.66 price objective for the company. in a research note on Tuesday, January 16th. Leerink Swann lifted their price objective on shares of CVS Health from $82.00 to $90.00 and gave the company an “outperform” rating in a research note on Monday, January 8th. SunTrust Banks lifted their price objective on shares of CVS Health to $90.00 and gave the company a “buy” rating in a research note on Friday, January 5th. Finally, Morgan Stanley raised shares of CVS Health from an “equal weight” rating to an “overweight” rating and set a $88.00 price objective for the company in a research note on Friday, January 5th. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating, twelve have given a buy rating and two have assigned a strong buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $87.25.
CVS Health Corp (CVS) opened at $79.86 on Friday. The company has a market cap of $80,897.54, a PE ratio of 13.99, a PEG ratio of 1.26 and a beta of 0.90. The company has a current ratio of 1.05, a quick ratio of 0.55 and a debt-to-equity ratio of 0.67. CVS Health Corp has a 52-week low of $66.45 and a 52-week high of $84.00.
CVS Health (NYSE:CVS) last announced its quarterly earnings data on Monday, November 6th. The pharmacy operator reported $1.50 EPS for the quarter, beating the Zacks’ consensus estimate of $1.49 by $0.01. The business had revenue of $46.18 billion during the quarter, compared to analyst estimates of $46.17 billion. CVS Health had a net margin of 2.77% and a return on equity of 16.96%. The firm’s revenue for the quarter was up 3.5% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.64 earnings per share. sell-side analysts forecast that CVS Health Corp will post 5.89 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, February 2nd. Stockholders of record on Wednesday, January 24th will be given a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a dividend yield of 2.50%. The ex-dividend date is Tuesday, January 23rd. CVS Health’s dividend payout ratio is currently 41.32%.
In other news, EVP Lisa Bisaccia sold 29,445 shares of the company’s stock in a transaction dated Thursday, December 21st. The shares were sold at an average price of $75.00, for a total transaction of $2,208,375.00. Following the completion of the transaction, the executive vice president now owns 15,556 shares of the company’s stock, valued at $1,166,700. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.61% of the stock is currently owned by corporate insiders.
CVS Health 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.
Want to see what other hedge funds are holding CVS? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for CVS Health Corp (NYSE:CVS).
Receive News & Ratings for CVS Health Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for CVS Health and related companies with MarketBeat.com's FREE daily email newsletter.