Osborne Partners Capital Management LLC cut its holdings in shares of CVS Health Corp (NYSE:CVS) by 4.3% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 115,029 shares of the pharmacy operator’s stock after selling 5,114 shares during the quarter. CVS Health makes up approximately 1.3% of Osborne Partners Capital Management LLC’s portfolio, making the stock its 20th largest holding. Osborne Partners Capital Management LLC’s holdings in CVS Health were worth $9,354,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Heritage Trust Co bought a new position in CVS Health during the first quarter valued at approximately $2,419,000. Pitcairn Co. grew its holdings in shares of CVS Health by 6.1% in the first quarter. Pitcairn Co. now owns 8,841 shares of the pharmacy operator’s stock worth $694,000 after purchasing an additional 511 shares during the last quarter. FCA Corp TX grew its holdings in shares of CVS Health by 165.0% in the first quarter. FCA Corp TX now owns 15,166 shares of the pharmacy operator’s stock worth $1,191,000 after purchasing an additional 9,444 shares during the last quarter. Norinchukin Bank The grew its holdings in shares of CVS Health by 0.3% in the first quarter. Norinchukin Bank The now owns 119,189 shares of the pharmacy operator’s stock worth $9,356,000 after purchasing an additional 360 shares during the last quarter. Finally, Twin Capital Management Inc. grew its holdings in shares of CVS Health by 15.9% in the first quarter. Twin Capital Management Inc. now owns 54,620 shares of the pharmacy operator’s stock worth $4,288,000 after purchasing an additional 7,510 shares during the last quarter. 81.62% of the stock is currently owned by institutional investors and hedge funds.
In other news, EVP Lisa Bisaccia sold 29,445 shares of the company’s stock in a transaction that occurred on Thursday, December 21st. The stock was sold at an average price of $75.00, for a total transaction of $2,208,375.00. Following the sale, the executive vice president now directly owns 15,556 shares of the company’s stock, valued at approximately $1,166,700. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.61% of the stock is currently owned by insiders.
Several research firms recently weighed in on CVS. Leerink Swann reiterated an “outperform” rating and issued a $85.00 price target (down previously from $90.00) on shares of CVS Health in a report on Tuesday, November 7th. Oppenheimer reiterated a “buy” rating and issued a $95.00 price target on shares of CVS Health in a report on Monday, October 9th. Raymond James Financial upgraded shares of CVS Health from an “outperform” rating to a “strong-buy” rating and set a $90.00 price target on the stock in a report on Thursday, January 4th. They noted that the move was a valuation call. SunTrust Banks set a $85.00 price objective on CVS Health and gave the company a “buy” rating in a research report on Thursday, October 12th. Finally, Needham & Company LLC reissued a “hold” rating on shares of CVS Health in a research report on Thursday, October 12th. One research analyst has rated the stock with a sell rating, nine have given a hold rating, twelve have assigned a buy rating and two have issued a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average target price of $86.66.
Shares of CVS Health Corp (NYSE CVS) traded down $0.24 during trading hours on Friday, hitting $78.78. The company had a trading volume of 7,098,202 shares, compared to its average volume of 10,770,000. 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 $84.72. The company has a market cap of $79,800.00, a P/E ratio of 16.28, a PEG ratio of 1.38 and a beta of 0.90.
CVS Health (NYSE:CVS) last posted its quarterly earnings results on Monday, November 6th. The pharmacy operator reported $1.50 EPS for the quarter, topping the Zacks’ consensus estimate of $1.49 by $0.01. CVS Health had a return on equity of 16.96% and a net margin of 2.77%. The company had revenue of $46.18 billion for the quarter, compared to analysts’ expectations of $46.17 billion. During the same period in the previous year, the firm earned $1.64 EPS. The firm’s revenue was up 3.5% compared to the same quarter last year. research analysts predict that CVS Health Corp will post 5.9 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, February 2nd. Investors of record on Wednesday, January 24th will be issued a $0.50 dividend. The ex-dividend date is Tuesday, January 23rd. This represents a $2.00 dividend on an annualized basis and a yield of 2.54%. CVS Health’s dividend payout ratio is presently 41.32%.
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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.
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