Kanawha Capital Management LLC lessened its position in CVS Health Corp (NYSE:CVS) by 5.4% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 45,784 shares of the pharmacy operator’s stock after selling 2,595 shares during the quarter. Kanawha Capital Management LLC’s holdings in CVS Health were worth $3,319,000 at the end of the most recent reporting period.
Other hedge funds have also recently bought and sold shares of the company. Beach Investment Management LLC. purchased a new position in CVS Health in the 2nd quarter valued at approximately $2,224,000. Pacer Advisors Inc. increased its position in CVS Health by 5.9% during the second quarter. Pacer Advisors Inc. now owns 32,554 shares of the pharmacy operator’s stock worth $2,619,000 after buying an additional 1,808 shares in the last quarter. Tobam increased its position in CVS Health by 89.0% during the second quarter. Tobam now owns 303,048 shares of the pharmacy operator’s stock worth $24,383,000 after buying an additional 142,706 shares in the last quarter. CLS Investments LLC increased its position in CVS Health by 7.6% during the second quarter. CLS Investments LLC now owns 13,715 shares of the pharmacy operator’s stock worth $1,104,000 after buying an additional 974 shares in the last quarter. Finally, Brookstone Capital Management increased its position in CVS Health by 1.8% during the second quarter. Brookstone Capital Management now owns 3,153 shares of the pharmacy operator’s stock worth $254,000 after buying an additional 55 shares in the last quarter. Hedge funds and other institutional investors own 84.12% of the company’s stock.
Several equities research analysts have recently issued reports on CVS shares. Jefferies Group set a $76.00 price objective on CVS Health and gave the stock a “hold” rating in a report on Monday, December 4th. Robert W. Baird reduced their target price on CVS Health from $85.00 to $80.00 and set a “neutral” rating on the stock in a report on Friday, February 9th. ValuEngine cut CVS Health from a “buy” rating to a “hold” rating in a research note on Friday, February 2nd. Vetr cut CVS Health from a “buy” rating to a “hold” rating and set a $77.11 price objective on the stock. in a research note on Thursday, January 4th. Finally, Royal Bank of Canada set a $95.00 target price on CVS Health and gave the stock a “buy” rating in a research report on Monday, December 4th. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating, twelve have assigned a buy rating and two have given a strong buy rating to the stock. The company has an average rating of “Buy” and a consensus price target of $87.03.
CVS Health Corp (NYSE:CVS) traded down $1.20 during midday trading on Wednesday, hitting $67.05. 7,620,174 shares of the company traded hands, compared to its average volume of 8,749,492. CVS Health Corp has a twelve month low of $66.45 and a twelve month high of $84.00. The company has a current ratio of 1.02, a quick ratio of 0.52 and a debt-to-equity ratio of 0.59. The company has a market capitalization of $68,020.00, a PE ratio of 10.35, a PEG ratio of 1.14 and a beta of 1.03.
CVS Health (NYSE:CVS) last posted its quarterly earnings results on Thursday, February 8th. The pharmacy operator reported $1.92 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.88 by $0.04. The firm had revenue of $48.39 billion during the quarter, compared to analyst estimates of $47.54 billion. CVS Health had a net margin of 3.58% and a return on equity of 17.21%. The company’s quarterly revenue was up 5.3% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.71 earnings per share. sell-side analysts predict that CVS Health Corp will post 6.37 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Thursday, May 3rd. Stockholders of record on Monday, April 23rd will be paid a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a dividend yield of 2.98%. CVS Health’s dividend payout ratio (DPR) is currently 30.91%.
In other CVS Health news, EVP Lisa Bisaccia sold 29,445 shares of the firm’s stock in a transaction that occurred on Thursday, December 21st. The shares were sold at an average price of $75.00, for a total value of $2,208,375.00. Following the transaction, the executive vice president now directly owns 15,556 shares of the company’s stock, valued at $1,166,700. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, EVP Helena Foulkes sold 19,965 shares of CVS Health stock in a transaction on Friday, February 16th. The stock was sold at an average price of $71.04, for a total transaction of $1,418,313.60. Following the transaction, the executive vice president now directly owns 65,072 shares in the company, valued at $4,622,714.88. The disclosure for this sale can be found here. 0.61% of the stock is owned by corporate insiders.
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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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