LFA Lugano Financial Advisors SA purchased a new position in shares of CVS Health Corp (NYSE:CVS) in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm purchased 175,651 shares of the pharmacy operator’s stock, valued at approximately $176,000.
Other hedge funds and other institutional investors also recently modified their holdings of the company. BlackRock Inc. raised its stake in shares of CVS Health by 5.9% during the 2nd quarter. BlackRock Inc. now owns 74,135,102 shares of the pharmacy operator’s stock worth $4,770,597,000 after buying an additional 4,121,620 shares during the last quarter. Barrow Hanley Mewhinney & Strauss LLC raised its stake in shares of CVS Health by 16.7% during the 1st quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 18,102,755 shares of the pharmacy operator’s stock worth $1,126,173,000 after buying an additional 2,588,382 shares during the last quarter. Parnassus Investments CA raised its stake in shares of CVS Health by 2.2% during the 2nd quarter. Parnassus Investments CA now owns 16,659,501 shares of the pharmacy operator’s stock worth $1,072,039,000 after buying an additional 350,872 shares during the last quarter. Bank of New York Mellon Corp raised its stake in shares of CVS Health by 15.9% during the 2nd quarter. Bank of New York Mellon Corp now owns 12,573,338 shares of the pharmacy operator’s stock worth $809,095,000 after buying an additional 1,721,683 shares during the last quarter. Finally, Veritas Asset Management LLP raised its stake in shares of CVS Health by 4.5% during the 2nd quarter. Veritas Asset Management LLP now owns 11,890,424 shares of the pharmacy operator’s stock worth $765,149,000 after buying an additional 508,500 shares during the last quarter. 82.75% of the stock is owned by hedge funds and other institutional investors.
In other news, EVP Lisa Bisaccia sold 21,534 shares of the business’s stock in a transaction that occurred on Monday, October 1st. The stock was sold at an average price of $80.00, for a total value of $1,722,720.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Kevin Hourican sold 8,564 shares of the business’s stock in a transaction that occurred on Monday, August 27th. The shares were sold at an average price of $75.00, for a total value of $642,300.00. Following the completion of the sale, the executive vice president now owns 12,135 shares of the company’s stock, valued at $910,125. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 43,409 shares of company stock worth $3,392,097. 0.53% of the stock is currently owned by corporate insiders.
CVS Health stock traded up $1.39 during midday trading on Friday, hitting $74.58. 9,475,196 shares of the company were exchanged, compared to its average volume of 8,231,727. The firm has a market capitalization of $80.14 billion, a PE ratio of 12.64, a price-to-earnings-growth ratio of 1.05 and a beta of 1.02. The company has a debt-to-equity ratio of 1.73, a quick ratio of 1.87 and a current ratio of 2.34. CVS Health Corp has a fifty-two week low of $60.14 and a fifty-two week high of $83.88.
CVS Health (NYSE:CVS) last released its quarterly earnings results on Wednesday, August 8th. The pharmacy operator reported $1.69 EPS for the quarter, topping the consensus estimate of $1.61 by $0.08. The firm had revenue of $46.71 billion for the quarter, compared to analyst estimates of $46.34 billion. CVS Health had a return on equity of 18.25% and a net margin of 1.61%. CVS Health’s revenue for the quarter was up 2.2% on a year-over-year basis. During the same period in the previous year, the company posted $1.33 EPS. On average, analysts forecast that CVS Health Corp will post 7.05 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, November 1st. Shareholders of record on Wednesday, October 24th will be given a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a dividend yield of 2.68%. The ex-dividend date is Tuesday, October 23rd. CVS Health’s payout ratio is 33.90%.
Several research firms have recently issued reports on CVS. ValuEngine raised CVS Health from a “sell” rating to a “hold” rating in a research note on Thursday. Royal Bank of Canada lifted their price target on CVS Health to $101.00 and gave the stock an “outperform” rating in a research note on Tuesday, September 18th. Bank of America lifted their price target on CVS Health from $86.00 to $90.00 and gave the stock a “buy” rating in a research note on Monday, September 17th. Leerink Swann set a $80.00 price target on CVS Health and gave the stock an “outperform” rating in a research note on Thursday, August 9th. Finally, Citigroup reaffirmed a “buy” rating and set a $81.00 price target on shares of CVS Health in a research note on Monday, July 9th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating, ten have issued a buy rating and two have issued a strong buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average price target of $86.31.
CVS Health Profile
CVS Health Corporation, together with its subsidiaries, provides integrated pharmacy health care services. It operates through Pharmacy Services and Retail/LTC segments. The Pharmacy Services segment offers pharmacy benefit management solutions, such as plan design and administration, formulary management, Medicare Part D services, mail order, specialty pharmacy and infusion services, retail pharmacy network management services, prescription management systems, clinical services, disease management programs, and medical pharmacy management services.
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