Klingenstein Fields & Co. LLC lifted its stake in shares of CVS Health Corp (NYSE:CVS) by 4.8% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 360,861 shares of the pharmacy operator’s stock after purchasing an additional 16,547 shares during the quarter. Klingenstein Fields & Co. LLC’s holdings in CVS Health were worth $28,407,000 at the end of the most recent reporting period.
Several other hedge funds also recently added to or reduced their stakes in CVS. Camarda Financial Advisors LLC purchased a new stake in CVS Health in the 2nd quarter valued at about $102,000. Kiley Juergens Wealth Management LLC purchased a new stake in CVS Health in the 2nd quarter valued at about $103,000. Legacy Advisors LLC increased its stake in CVS Health by 7,100.0% in the 2nd quarter. Legacy Advisors LLC now owns 1,800 shares of the pharmacy operator’s stock valued at $116,000 after buying an additional 1,775 shares during the last quarter. Squar Milner Financial Services LLC purchased a new stake in CVS Health in the 2nd quarter valued at about $122,000. Finally, Canton Hathaway LLC purchased a new stake in CVS Health in the 3rd quarter valued at about $126,000. 82.42% of the stock is currently owned by institutional investors.
Shares of CVS stock opened at $79.83 on Friday. The company has a quick ratio of 1.87, a current ratio of 2.44 and a debt-to-equity ratio of 1.66. CVS Health Corp has a 12-month low of $60.14 and a 12-month high of $83.88. The company has a market cap of $80.25 billion, a PE ratio of 13.53, a P/E/G ratio of 1.05 and a beta of 0.98.
CVS Health (NYSE:CVS) last released its quarterly earnings data on Tuesday, November 6th. The pharmacy operator reported $1.73 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.71 by $0.02. The company had revenue of $47.27 billion during the quarter, compared to the consensus estimate of $47.22 billion. CVS Health had a net margin of 1.65% and a return on equity of 18.69%. CVS Health’s revenue for the quarter was up 2.4% on a year-over-year basis. During the same period last year, the firm earned $1.50 EPS. Equities analysts forecast that CVS Health Corp will post 7.04 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Thursday, November 1st. Investors of record on Wednesday, October 24th were issued a $0.50 dividend. This represents a $2.00 annualized dividend and a yield of 2.51%. The ex-dividend date was Tuesday, October 23rd. CVS Health’s dividend payout ratio (DPR) is presently 33.90%.
In related news, EVP Eva C. Boratto sold 13,311 shares of the firm’s stock in a transaction that occurred on Monday, September 17th. The shares were sold at an average price of $77.16, for a total value of $1,027,076.76. Following the completion of the transaction, the executive vice president now directly owns 55,162 shares of the company’s stock, valued at approximately $4,256,299.92. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Kevin Hourican sold 8,564 shares of the firm’s stock in a transaction that occurred on Monday, August 27th. The stock was sold at an average price of $75.00, for a total transaction of $642,300.00. Following the completion of the transaction, 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 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 analyst reports. Bank of America increased their price objective on shares of CVS Health from $86.00 to $90.00 and gave the company a “buy” rating in a research note on Monday, September 17th. ValuEngine lowered shares of CVS Health from a “sell” rating to a “strong sell” rating in a research note on Tuesday, September 4th. Royal Bank of Canada raised their price target on shares of CVS Health to $101.00 and gave the stock an “outperform” rating in a research note on Tuesday, September 18th. Tigress Financial restated a “buy” rating on shares of CVS Health in a research note on Friday, October 26th. Finally, Leerink Swann set a $80.00 price target on shares of CVS Health and gave the stock an “outperform” rating in a research note on Thursday, August 9th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating, ten have given a buy rating and two have assigned a strong buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus price target of $89.38.
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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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