Gofen & Glossberg LLC IL decreased its holdings in CVS Health Corp (NYSE:CVS) by 5.2% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 26,609 shares of the pharmacy operator’s stock after selling 1,458 shares during the quarter. Gofen & Glossberg LLC IL’s holdings in CVS Health were worth $2,095,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also modified their holdings of CVS. BlackRock Inc. raised its position in CVS Health by 5.9% in the 2nd quarter. BlackRock Inc. now owns 74,135,102 shares of the pharmacy operator’s stock valued at $4,770,597,000 after purchasing an additional 4,121,620 shares during the last quarter. Charles Schwab Investment Advisory Inc. acquired a new stake in shares of CVS Health in the 2nd quarter valued at $190,701,000. Boston Partners increased its stake in shares of CVS Health by 41.9% in the 2nd quarter. Boston Partners now owns 9,908,888 shares of the pharmacy operator’s stock valued at $637,637,000 after buying an additional 2,924,875 shares during the period. Carmignac Gestion acquired a new stake in shares of CVS Health in the 1st quarter valued at $165,735,000. Finally, Barrow Hanley Mewhinney & Strauss LLC increased its stake in shares of CVS Health by 16.7% in the 1st quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 18,102,755 shares of the pharmacy operator’s stock valued at $1,126,173,000 after buying an additional 2,588,382 shares during the period. Hedge funds and other institutional investors own 82.75% of the company’s stock.
Shares of CVS Health stock opened at $74.58 on Friday. The company has a quick ratio of 1.87, a current ratio of 2.34 and a debt-to-equity ratio of 1.73. CVS Health Corp has a 12 month low of $60.14 and a 12 month high of $83.88. The firm has a market cap of $80.14 billion, a P/E ratio of 12.64, a P/E/G ratio of 1.05 and a beta of 1.02.
CVS Health (NYSE:CVS) last announced its quarterly earnings data on Wednesday, August 8th. The pharmacy operator reported $1.69 EPS for the quarter, topping analysts’ consensus estimates of $1.61 by $0.08. CVS Health had a return on equity of 18.25% and a net margin of 1.61%. The business had revenue of $46.71 billion during the quarter, compared to analysts’ expectations of $46.34 billion. During the same period in the previous year, the firm earned $1.33 earnings per share. The firm’s quarterly revenue was up 2.2% compared to the same quarter last year. As a group, equities research analysts anticipate that CVS Health Corp will post 7.05 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, November 1st. Investors of record on Wednesday, October 24th will be paid a dividend of $0.50 per share. The ex-dividend date of this dividend is Tuesday, October 23rd. This represents a $2.00 dividend on an annualized basis and a dividend yield of 2.68%. CVS Health’s dividend payout ratio (DPR) is presently 33.90%.
In related news, EVP Lisa Bisaccia sold 21,534 shares of CVS Health stock in a transaction on Monday, October 1st. The stock was sold at an average price of $80.00, for a total transaction of $1,722,720.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Kevin Hourican sold 8,564 shares of CVS Health stock in a transaction on Monday, August 27th. The stock was sold at an average price of $75.00, for a total value of $642,300.00. Following the sale, the executive vice president now directly 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 have sold 43,409 shares of company stock valued at $3,392,097. 0.53% of the stock is owned by insiders.
CVS has been the subject of several research reports. Royal Bank of Canada lowered their target price on CVS Health to $84.00 and set an “outperform” rating for the company in a research note on Friday, June 29th. Mizuho reissued a “buy” rating on shares of CVS Health in a research note on Saturday, June 30th. Morgan Stanley lowered their target price on CVS Health from $88.00 to $80.00 and set an “overweight” rating for the company in a research note on Tuesday, July 3rd. Citigroup reissued a “buy” rating and issued a $81.00 target price on shares of CVS Health in a research note on Monday, July 9th. Finally, Leerink Swann set a $80.00 target price on CVS Health and gave the company an “outperform” rating in a research note on Thursday, August 9th. One analyst has rated the stock with a sell rating, five have issued a hold rating, ten have issued a buy rating and two have assigned a strong buy rating to the company. The stock has a consensus rating of “Buy” and a consensus price target of $86.31.
CVS Health Company 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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