Royal London Asset Management Ltd. lessened its stake in shares of CVS Health Corp (NYSE:CVS) by 4.0% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 498,309 shares of the pharmacy operator’s stock after selling 20,835 shares during the quarter. Royal London Asset Management Ltd.’s holdings in CVS Health were worth $27,160,000 at the end of the most recent reporting period.
Several other institutional investors also recently bought and sold shares of CVS. ARGA Investment Management LP increased its holdings in CVS Health by 418.0% during the 2nd quarter. ARGA Investment Management LP now owns 20,850 shares of the pharmacy operator’s stock valued at $1,136,000 after purchasing an additional 16,825 shares in the last quarter. Aperio Group LLC increased its holdings in CVS Health by 28.8% during the 2nd quarter. Aperio Group LLC now owns 692,147 shares of the pharmacy operator’s stock valued at $37,716,000 after purchasing an additional 154,689 shares in the last quarter. Great Valley Advisor Group Inc. increased its holdings in CVS Health by 9.9% during the 2nd quarter. Great Valley Advisor Group Inc. now owns 4,461 shares of the pharmacy operator’s stock valued at $242,000 after purchasing an additional 402 shares in the last quarter. KBC Group NV increased its holdings in CVS Health by 0.5% during the 2nd quarter. KBC Group NV now owns 430,101 shares of the pharmacy operator’s stock valued at $23,436,000 after purchasing an additional 1,943 shares in the last quarter. Finally, Dupont Capital Management Corp increased its holdings in CVS Health by 34.3% during the 2nd quarter. Dupont Capital Management Corp now owns 67,517 shares of the pharmacy operator’s stock valued at $3,679,000 after purchasing an additional 17,250 shares in the last quarter. Institutional investors and hedge funds own 77.18% of the company’s stock.
Shares of CVS Health stock traded up $1.11 during trading on Tuesday, reaching $59.86. 198,159 shares of the company were exchanged, compared to its average volume of 8,182,775. The company has a quick ratio of 0.64, a current ratio of 0.95 and a debt-to-equity ratio of 1.39. CVS Health Corp has a twelve month low of $51.72 and a twelve month high of $82.15. The business’s 50-day simple moving average is $55.98. The stock has a market cap of $77.11 billion, a price-to-earnings ratio of 8.45, a price-to-earnings-growth ratio of 1.30 and a beta of 0.90.
CVS Health (NYSE:CVS) last announced its quarterly earnings data on Wednesday, August 7th. The pharmacy operator reported $1.89 EPS for the quarter, topping analysts’ consensus estimates of $1.70 by $0.19. CVS Health had a return on equity of 16.15% and a net margin of 1.91%. The business had revenue of $63.43 billion during the quarter, compared to analysts’ expectations of $62.66 billion. During the same period in the previous year, the firm earned $1.69 earnings per share. The firm’s quarterly revenue was up 35.2% compared to the same quarter last year. On average, analysts expect that CVS Health Corp will post 6.96 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Friday, August 2nd. Investors of record on Thursday, July 25th were paid a dividend of $0.50 per share. The ex-dividend date was Wednesday, July 24th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 3.34%. CVS Health’s dividend payout ratio (DPR) is presently 28.25%.
A number of equities research analysts recently weighed in on the company. Oppenheimer cut CVS Health from an “outperform” rating to a “market perform” rating in a report on Monday, April 15th. UBS Group dropped their price target on CVS Health from $74.00 to $67.00 and set a “sell” rating for the company in a report on Thursday, May 2nd. Evercore ISI set a $63.00 price target on CVS Health and gave the company a “buy” rating in a report on Wednesday, August 7th. Standpoint Research raised CVS Health from a “hold” rating to a “buy” rating in a report on Wednesday, June 5th. Finally, Morgan Stanley reissued a “buy” rating and issued a $74.00 target price on shares of CVS Health in a research note on Sunday. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating, sixteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $75.14.
CVS Health Profile
CVS Health Corporation provides health services and plans in the United States. Its Pharmacy Services segment offers pharmacy benefit management solutions, such as plan design and administration, formulary management, retail pharmacy network management, mail order pharmacy, specialty pharmacy and infusion, Medicare Part D, clinical, disease management, and medical spend management services.
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