New York State Common Retirement Fund reduced its stake in shares of CVS Health Corp (NYSE:CVS) by 3.5% in the third quarter, according to its most recent filing with the SEC. The institutional investor owned 3,235,540 shares of the pharmacy operator’s stock after selling 116,655 shares during the period. New York State Common Retirement Fund owned about 0.32% of CVS Health worth $263,114,000 as of its most recent filing with the SEC.
A number of other institutional investors and hedge funds also recently modified their holdings of the business. Fieldpoint Private Securities LLC grew its holdings in shares of CVS Health by 333.3% in the second quarter. Fieldpoint Private Securities LLC now owns 1,300 shares of the pharmacy operator’s stock valued at $105,000 after acquiring an additional 1,000 shares in the last quarter. Arcadia Investment Management Corp MI grew its holdings in shares of CVS Health by 119.6% in the third quarter. Arcadia Investment Management Corp MI now owns 1,333 shares of the pharmacy operator’s stock valued at $108,000 after acquiring an additional 726 shares in the last quarter. MPS Loria Financial Planners LLC bought a new position in shares of CVS Health in the second quarter valued at approximately $119,000. Gemmer Asset Management LLC grew its holdings in shares of CVS Health by 15.3% in the second quarter. Gemmer Asset Management LLC now owns 1,509 shares of the pharmacy operator’s stock valued at $121,000 after acquiring an additional 200 shares in the last quarter. Finally, Captrust Financial Advisors bought a new position in shares of CVS Health in the second quarter valued at approximately $155,000. 81.70% of the stock is owned by hedge funds and other institutional investors.
CVS Health Corp (NYSE:CVS) opened at $80.95 on Tuesday. CVS Health Corp has a 12 month low of $66.45 and a 12 month high of $84.00. The stock has a market capitalization of $82,000.00, a PE ratio of 16.73, a PEG ratio of 1.26 and a beta of 0.90. The company has a debt-to-equity ratio of 0.67, a quick ratio of 0.55 and a current ratio of 1.05.
CVS Health (NYSE:CVS) last announced its quarterly earnings data on Monday, November 6th. The pharmacy operator reported $1.50 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.49 by $0.01. The firm had revenue of $46.18 billion for the quarter, compared to analysts’ expectations of $46.17 billion. CVS Health had a return on equity of 16.96% and a net margin of 2.77%. The company’s revenue for the quarter was up 3.5% compared to the same quarter last year. During the same period last year, the firm earned $1.64 earnings per share. sell-side analysts anticipate that CVS Health Corp will post 5.89 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Friday, February 2nd. Stockholders of record on Wednesday, January 24th will be issued a dividend of $0.50 per share. The ex-dividend date is Tuesday, January 23rd. This represents a $2.00 dividend on an annualized basis and a dividend yield of 2.47%. CVS Health’s dividend payout ratio is currently 41.32%.
In other news, EVP Lisa Bisaccia sold 29,445 shares of the 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 sale, the executive vice president now directly owns 15,556 shares in the company, valued at $1,166,700. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Corporate insiders own 0.61% of the company’s stock.
Several equities analysts have recently issued reports on the company. Cowen reaffirmed an “outperform” rating and issued a $99.00 target price (up from $81.00) on shares of CVS Health in a report on Thursday, January 18th. Vetr downgraded CVS Health from a “hold” rating to a “sell” rating and set a $76.66 price objective on the stock. in a research note on Tuesday, January 16th. Leerink Swann upped their price objective on 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 upped their price objective on CVS Health to $90.00 and gave the company a “buy” rating in a research note on Friday, January 5th. Finally, Morgan Stanley upgraded CVS Health from an “equal weight” rating to an “overweight” rating and set a $88.00 target price on the stock in a research report on Friday, January 5th. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating, twelve have given a buy rating and two have assigned a strong buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus price target of $87.25.
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CVS Health Company 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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