Meeder Asset Management Inc. grew its holdings in CVS Health Corp (NYSE:CVS) by 261.3% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 68,121 shares of the pharmacy operator’s stock after acquiring an additional 49,266 shares during the quarter. Meeder Asset Management Inc.’s holdings in CVS Health were worth $4,939,000 as of its most recent filing with the Securities and Exchange Commission.
Several other institutional investors and hedge funds have also bought and sold shares of CVS. FIL Ltd lifted its position in CVS Health by 13.8% in the second quarter. FIL Ltd now owns 514,836 shares of the pharmacy operator’s stock worth $41,424,000 after purchasing an additional 62,318 shares during the period. ETRADE Capital Management LLC lifted its position in CVS Health by 3.7% in the second quarter. ETRADE Capital Management LLC now owns 55,653 shares of the pharmacy operator’s stock worth $4,478,000 after purchasing an additional 1,979 shares during the period. Ally Financial Inc. lifted its position in CVS Health by 20.0% in the second quarter. Ally Financial Inc. now owns 90,000 shares of the pharmacy operator’s stock worth $7,241,000 after purchasing an additional 15,000 shares during the period. Livforsakringsbolaget Skandia Omsesidigt lifted its position in CVS Health by 17.9% in the fourth quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 77,859 shares of the pharmacy operator’s stock worth $5,645,000 after purchasing an additional 11,800 shares during the period. Finally, Checchi Capital Advisers LLC lifted its position in CVS Health by 14.5% in the fourth quarter. Checchi Capital Advisers LLC now owns 9,063 shares of the pharmacy operator’s stock worth $657,000 after purchasing an additional 1,150 shares during the period. 83.96% of the stock is owned by institutional investors.
In other news, EVP Lisa Bisaccia sold 29,445 shares of the firm’s stock in a transaction on Thursday, December 21st. The stock was sold at an average price of $75.00, for a total value 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 sale was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP Helena Foulkes sold 19,965 shares of the firm’s stock in a transaction on Friday, February 16th. The shares were sold at an average price of $71.04, for a total value of $1,418,313.60. Following the completion of the sale, the executive vice president now owns 65,072 shares of the company’s stock, valued at $4,622,714.88. The disclosure for this sale can be found here. Company insiders own 0.61% of the company’s stock.
Several research analysts recently commented on CVS shares. Raymond James Financial reaffirmed a “buy” rating on shares of CVS Health in a research report on Monday, December 4th. 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. Leerink Swann set a $85.00 target price on CVS Health and gave the stock a “buy” rating in a research report on Monday, December 4th. Needham & Company LLC raised their target price on CVS Health from $79.00 to $85.00 and gave the stock a “buy” rating in a research report on Monday, December 4th. Finally, Deutsche Bank started coverage on CVS Health in a research report on Monday, December 4th. They issued a “buy” rating and a $90.00 target price for the company. Two 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 issued a strong buy rating to the company. The stock presently has an average rating of “Buy” and a consensus target price of $87.03.
Shares of CVS stock opened at $62.94 on Wednesday. CVS Health Corp has a 12 month low of $61.87 and a 12 month high of $84.00. The firm has a market capitalization of $64,554.67, a price-to-earnings ratio of 9.73, a PEG ratio of 1.05 and a beta of 1.03. The company has a quick ratio of 0.52, a current ratio of 1.02 and a debt-to-equity ratio of 0.59.
CVS Health (NYSE:CVS) last announced its earnings results on Thursday, February 8th. The pharmacy operator reported $1.92 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.88 by $0.04. CVS Health had a return on equity of 17.21% and a net margin of 3.58%. The company had revenue of $48.39 billion during the quarter, compared to analyst estimates of $47.54 billion. During the same period last year, the company posted $1.71 earnings per share. The firm’s quarterly revenue was up 5.3% compared to the same quarter last year. sell-side analysts predict that CVS Health Corp will post 6.37 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, May 3rd. Stockholders of record on Monday, April 23rd will be paid a $0.50 dividend. The ex-dividend date is Friday, April 20th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 3.18%. CVS Health’s dividend payout ratio (DPR) is presently 30.91%.
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About CVS Health
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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