Eaton Vance Management boosted its position in CVS Health Corp (NYSE:CVS) by 3.7% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,835,107 shares of the pharmacy operator’s stock after purchasing an additional 66,038 shares during the quarter. Eaton Vance Management owned about 0.18% of CVS Health worth $120,236,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in CVS. Oregon Public Employees Retirement Fund lifted its position in shares of CVS Health by 6,858.5% during the 4th quarter. Oregon Public Employees Retirement Fund now owns 25,089,377 shares of the pharmacy operator’s stock valued at $383,000 after acquiring an additional 24,728,818 shares during the period. Dodge & Cox bought a new stake in shares of CVS Health during the 3rd quarter valued at $1,190,694,000. Capital International Investors lifted its position in shares of CVS Health by 5,579.8% during the 3rd quarter. Capital International Investors now owns 9,161,488 shares of the pharmacy operator’s stock valued at $721,192,000 after acquiring an additional 9,000,188 shares during the period. Diamond Hill Capital Management Inc. bought a new stake in shares of CVS Health during the 3rd quarter valued at $204,536,000. Finally, BlackRock Inc. lifted its position in shares of CVS Health by 2.8% during the 3rd quarter. BlackRock Inc. now owns 76,197,017 shares of the pharmacy operator’s stock valued at $5,998,231,000 after acquiring an additional 2,061,915 shares during the period. Institutional investors and hedge funds own 84.55% of the company’s stock.
In other CVS Health news, SVP James David Clark sold 1,664 shares of the company’s stock in a transaction dated Friday, March 1st. The stock was sold at an average price of $58.14, for a total value of $96,744.96. Following the completion of the transaction, the senior vice president now owns 8,557 shares of the company’s stock, valued at approximately $497,503.98. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Edward J. Ludwig bought 4,000 shares of the stock in a transaction on Friday, March 1st. The stock was purchased at an average cost of $58.27 per share, with a total value of $233,080.00. Following the acquisition, the director now owns 5,378 shares in the company, valued at $313,376.06. The disclosure for this purchase can be found here. Over the last 90 days, insiders have purchased 23,600 shares of company stock valued at $1,270,896 and have sold 412,039 shares valued at $27,326,012. 0.53% of the stock is owned by corporate insiders.
Shares of CVS stock opened at $55.60 on Friday. The company has a quick ratio of 0.65, a current ratio of 1.03 and a debt-to-equity ratio of 1.22. CVS Health Corp has a twelve month low of $51.93 and a twelve month high of $82.15. The firm has a market cap of $70.89 billion, a P/E ratio of 7.85, a price-to-earnings-growth ratio of 1.06 and a beta of 0.95.
CVS Health (NYSE:CVS) last announced its quarterly earnings data on Wednesday, February 20th. The pharmacy operator reported $2.14 earnings per share for the quarter, topping the consensus estimate of $2.07 by $0.07. CVS Health had a positive return on equity of 17.49% and a negative net margin of 0.31%. The business had revenue of $54.42 billion during the quarter, compared to the consensus estimate of $53.78 billion. During the same period in the prior year, the company earned $1.92 EPS. CVS Health’s revenue for the quarter was up 12.5% on a year-over-year basis. On average, research analysts expect that CVS Health Corp will post 6.8 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, May 3rd. Investors of record on Tuesday, April 23rd will be given a dividend of $0.50 per share. The ex-dividend date is Monday, April 22nd. This represents a $2.00 annualized dividend and a dividend yield of 3.60%. CVS Health’s dividend payout ratio is currently 28.25%.
A number of analysts have recently weighed in on CVS shares. Argus cut their target price on CVS Health from $100.00 to $80.00 and set a “positive” rating for the company in a research report on Monday, February 25th. Sanford C. Bernstein started coverage on CVS Health in a research report on Tuesday, March 12th. They set an “outperform” rating and a $76.00 target price for the company. Wells Fargo & Co downgraded CVS Health from an “outperform” rating to a “market perform” rating and cut their target price for the company from $104.00 to $68.00 in a research report on Wednesday, February 20th. Cantor Fitzgerald reiterated a “buy” rating and set a $96.00 target price on shares of CVS Health in a research report on Thursday, January 3rd. Finally, UBS Group started coverage on CVS Health in a research report on Thursday, January 17th. They set a “buy” rating and a $75.00 target price for the company. One investment analyst has rated the stock with a sell rating, three have given a hold rating and fifteen have issued a buy rating to the company. CVS Health currently has an average rating of “Buy” and a consensus target price of $84.18.
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About CVS Health
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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