Novare Capital Management LLC acquired a new position in shares of CVS Health Corp (NYSE:CVS) during the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 48,401 shares of the pharmacy operator’s stock, valued at approximately $3,936,000.
Several other institutional investors and hedge funds have also recently modified their holdings of CVS. Jackson Grant Investment Advisers Inc. raised its holdings in CVS Health by 0.6% during the 2nd quarter. Jackson Grant Investment Advisers Inc. now owns 2,881 shares of the pharmacy operator’s stock valued at $232,000 after buying an additional 18 shares during the period. Traynor Capital Management Inc. raised its holdings in CVS Health by 1.3% during the 2nd quarter. Traynor Capital Management Inc. now owns 3,676 shares of the pharmacy operator’s stock valued at $290,000 after buying an additional 48 shares during the period. Sequoia Financial Advisors LLC raised its holdings in CVS Health by 0.8% during the 2nd quarter. Sequoia Financial Advisors LLC now owns 6,406 shares of the pharmacy operator’s stock valued at $515,000 after buying an additional 53 shares during the period. Brookstone Capital Management raised its holdings in CVS Health by 1.8% during the 2nd quarter. Brookstone Capital Management now owns 3,153 shares of the pharmacy operator’s stock valued at $254,000 after buying an additional 55 shares during the period. Finally, Mengis Capital Management Inc. raised its holdings in CVS Health by 0.7% during the 2nd quarter. Mengis Capital Management Inc. now owns 11,415 shares of the pharmacy operator’s stock valued at $918,000 after buying an additional 75 shares during the period. 81.70% of the stock is currently owned by institutional investors and hedge funds.
In other news, EVP Lisa Bisaccia sold 29,445 shares of the stock in a transaction 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 transaction, the executive vice president now owns 15,556 shares of the company’s stock, valued at approximately $1,166,700. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 0.61% of the stock is currently owned by corporate insiders.
CVS Health Corp (CVS) opened at $79.86 on Monday. The company has a market capitalization of $80,897.54, a price-to-earnings ratio of 16.50, a price-to-earnings-growth ratio of 1.26 and a beta of 0.90. The company has a debt-to-equity ratio of 0.67, a current ratio of 1.05 and a quick ratio of 0.55. CVS Health Corp has a 12-month low of $66.45 and a 12-month 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 Thomson Reuters’ consensus estimate of $1.49 by $0.01. The company had revenue of $46.18 billion for the quarter, compared to the consensus estimate of $46.17 billion. CVS Health had a return on equity of 16.96% and a net margin of 2.77%. CVS Health’s quarterly revenue was up 3.5% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.64 EPS. equities research analysts expect that CVS Health Corp will post 5.89 earnings per share for the current fiscal year.
The company also recently declared 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 of this dividend is Tuesday, January 23rd. CVS Health’s payout ratio is 41.32%.
CVS has been the topic of several recent research reports. Leerink Swann restated an “outperform” rating and set a $85.00 price target (down previously from $90.00) on shares of CVS Health in a report on Tuesday, November 7th. Oppenheimer restated a “buy” rating and set a $95.00 price target on shares of CVS Health in a report on Monday, October 9th. Raymond James Financial upgraded 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 target on CVS Health and gave the company a “buy” rating in a report on Thursday, October 12th. Finally, Needham & Company LLC restated a “hold” rating on shares of CVS Health in a report on Thursday, October 12th. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating, twelve have assigned a buy rating and two have issued a strong buy rating to the company. The company has an average rating of “Buy” and a consensus target price of $87.25.
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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