Swedbank reduced its stake in CVS Health Corp (NYSE:CVS) by 54.5% during the third quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 943,346 shares of the pharmacy operator’s stock after selling 1,130,232 shares during the quarter. Swedbank owned approximately 0.09% of CVS Health worth $74,260,000 at the end of the most recent quarter.
Other institutional investors also recently made changes to their positions in the company. Quantbot Technologies LP purchased a new stake in CVS Health in the 1st quarter worth $103,000. GSA Capital Partners LLP increased its stake in CVS Health by 641.3% in the 1st quarter. GSA Capital Partners LLP now owns 48,375 shares of the pharmacy operator’s stock worth $3,009,000 after buying an additional 41,849 shares in the last quarter. M&R Capital Management Inc. increased its stake in CVS Health by 3.6% in the 1st quarter. M&R Capital Management Inc. now owns 63,592 shares of the pharmacy operator’s stock worth $3,960,000 after buying an additional 2,238 shares in the last quarter. Mcdaniel Terry & Co. increased its stake in CVS Health by 2.2% in the 1st quarter. Mcdaniel Terry & Co. now owns 139,697 shares of the pharmacy operator’s stock worth $8,691,000 after buying an additional 3,032 shares in the last quarter. Finally, Bristol John W & Co. Inc. NY purchased a new stake in CVS Health in the 1st quarter worth $333,000. 82.75% of the stock is currently owned by institutional investors.
A number of equities research analysts have issued reports on CVS shares. Bank of America increased 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. Royal Bank of Canada increased their price target on CVS Health to $101.00 and gave the stock an “outperform” rating in a research note on Tuesday, September 18th. ValuEngine upgraded CVS Health from a “strong sell” rating to a “sell” rating in a research note on Tuesday, August 28th. Citigroup restated a “buy” rating and set a $81.00 price objective on shares of CVS Health in a research report on Monday, July 9th. Finally, Morgan Stanley cut their price objective on CVS Health from $88.00 to $80.00 and set an “overweight” rating for the company in a research report on Tuesday, July 3rd. One research analyst has rated the stock with a sell rating, five have given a hold rating, ten have assigned a buy rating and two have issued a strong buy rating to the company. CVS Health presently has a consensus rating of “Buy” and an average price target of $86.31.
In related news, EVP Kevin Hourican sold 8,564 shares of CVS Health stock in a transaction dated Monday, August 27th. The stock was sold at an average price of $75.00, for a total value of $642,300.00. Following the completion of the transaction, the executive vice president now owns 12,135 shares in the company, valued at $910,125. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Lisa Bisaccia sold 21,534 shares of CVS Health stock in a transaction dated Monday, October 1st. The stock was sold at an average price of $80.00, for a total value of $1,722,720.00. The disclosure for this sale can be found here. In the last quarter, insiders sold 43,409 shares of company stock valued at $3,392,097. 0.53% of the stock is currently owned by company insiders.
Shares of CVS Health stock opened at $74.58 on Friday. The stock has a market cap of $80.14 billion, a PE ratio of 12.64, a PEG ratio of 1.05 and a beta of 1.02. 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 twelve month low of $60.14 and a twelve month high of $83.88.
CVS Health (NYSE:CVS) last issued its quarterly earnings data on Wednesday, August 8th. The pharmacy operator reported $1.69 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.61 by $0.08. The firm had revenue of $46.71 billion during 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%. The business’s quarterly revenue was up 2.2% compared to the same quarter last year. During the same quarter last year, the business posted $1.33 earnings per share. Analysts anticipate that CVS Health Corp will post 7.05 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Thursday, November 1st. Investors of record on Wednesday, October 24th will be given a $0.50 dividend. The ex-dividend date of this dividend is Tuesday, October 23rd. This represents a $2.00 annualized dividend and a yield of 2.68%. CVS Health’s dividend payout ratio is currently 33.90%.
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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