Tdam USA Inc. reduced its holdings in CVS Health Corp (NYSE:CVS) by 15.2% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 35,775 shares of the pharmacy operator’s stock after selling 6,392 shares during the quarter. Tdam USA Inc.’s holdings in CVS Health were worth $1,949,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also bought and sold shares of the company. FMR LLC lifted its position in CVS Health by 30.6% in the fourth quarter. FMR LLC now owns 39,263,265 shares of the pharmacy operator’s stock worth $2,572,528,000 after purchasing an additional 9,194,005 shares during the period. Geode Capital Management LLC increased its holdings in shares of CVS Health by 36.2% in the fourth quarter. Geode Capital Management LLC now owns 16,462,292 shares of the pharmacy operator’s stock valued at $1,076,697,000 after buying an additional 4,376,604 shares in the last quarter. Dimensional Fund Advisors LP increased its holdings in shares of CVS Health by 28.3% in the fourth quarter. Dimensional Fund Advisors LP now owns 13,790,753 shares of the pharmacy operator’s stock valued at $903,574,000 after buying an additional 3,041,266 shares in the last quarter. Norges Bank bought a new position in shares of CVS Health in the fourth quarter valued at $840,254,000. Finally, Nordea Investment Management AB increased its holdings in shares of CVS Health by 2.8% in the first quarter. Nordea Investment Management AB now owns 12,426,745 shares of the pharmacy operator’s stock valued at $670,172,000 after buying an additional 340,315 shares in the last quarter. 77.18% of the stock is owned by institutional investors and hedge funds.
Shares of NYSE CVS traded down $0.83 during mid-day trading on Wednesday, hitting $59.02. The company had a trading volume of 458,134 shares, compared to its average volume of 11,224,507. The company has a debt-to-equity ratio of 1.39, a quick ratio of 0.64 and a current ratio of 0.95. The firm’s 50-day moving average price is $56.12. CVS Health Corp has a 12 month low of $51.72 and a 12 month high of $82.15. The company has a market cap of $77.11 billion, a price-to-earnings ratio of 8.34, a P/E/G ratio of 1.30 and a beta of 0.90.
CVS Health (NYSE:CVS) last released its earnings results on Wednesday, August 7th. The pharmacy operator reported $1.89 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.70 by $0.19. CVS Health had a net margin of 1.91% and a return on equity of 16.15%. The business had revenue of $63.43 billion during the quarter, compared to analysts’ expectations of $62.66 billion. During the same quarter last year, the company earned $1.69 earnings per share. The firm’s revenue was up 35.2% on a year-over-year basis. Analysts anticipate that CVS Health Corp will post 6.96 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Friday, August 2nd. Investors of record on Thursday, July 25th were paid a $0.50 dividend. This represents a $2.00 annualized dividend and a dividend yield of 3.39%. The ex-dividend date was Wednesday, July 24th. CVS Health’s payout ratio is presently 28.25%.
CVS has been the topic of several research reports. Raymond James dropped their price target on CVS Health from $90.00 to $75.00 and set a “strong-buy” rating on the stock in a report on Thursday, April 18th. Evercore ISI set a $63.00 target price on shares of CVS Health and gave the company a “buy” rating in a research note on Wednesday, August 7th. Standpoint Research raised shares of CVS Health from a “hold” rating to a “buy” rating in a research note on Wednesday, June 5th. ValuEngine downgraded shares of CVS Health from a “sell” rating to a “strong sell” rating in a research note on Tuesday, July 2nd. Finally, Morgan Stanley reaffirmed a “buy” rating and issued a $74.00 price target on shares of CVS Health in a research note on Sunday. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating, sixteen have assigned a buy rating and one has issued a strong buy rating to the stock. The stock currently has an average rating of “Buy” and an average target price of $75.14.
CVS Health Company 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.
Featured Story: Trading Options- What is a Strangle?
Receive News & Ratings for CVS Health Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for CVS Health and related companies with MarketBeat.com's FREE daily email newsletter.