Bourgeon Capital Management LLC boosted its holdings in shares of CVS Health Corp (NYSE:CVS) by 2.0% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 117,401 shares of the pharmacy operator’s stock after purchasing an additional 2,247 shares during the quarter. CVS Health comprises approximately 4.0% of Bourgeon Capital Management LLC’s holdings, making the stock its 6th largest position. Bourgeon Capital Management LLC’s holdings in CVS Health were worth $7,404,000 at the end of the most recent quarter.
A number of other large investors have also made changes to their positions in CVS. Nuveen Asset Management LLC boosted its stake in CVS Health by 16,194.7% during the 2nd quarter. Nuveen Asset Management LLC now owns 12,112,044 shares of the pharmacy operator’s stock valued at $659,986,000 after purchasing an additional 12,037,713 shares during the period. Morgan Stanley boosted its stake in CVS Health by 12.8% during the 2nd quarter. Morgan Stanley now owns 13,765,635 shares of the pharmacy operator’s stock valued at $750,088,000 after purchasing an additional 1,560,142 shares during the period. Macquarie Group Ltd. boosted its stake in CVS Health by 10.9% during the 2nd quarter. Macquarie Group Ltd. now owns 13,905,440 shares of the pharmacy operator’s stock valued at $757,707,000 after purchasing an additional 1,372,275 shares during the period. Prudential PLC boosted its stake in CVS Health by 54.8% during the 2nd quarter. Prudential PLC now owns 3,737,874 shares of the pharmacy operator’s stock valued at $203,137,000 after purchasing an additional 1,323,366 shares during the period. Finally, Vanguard Group Inc. boosted its stake in CVS Health by 1.2% during the 2nd quarter. Vanguard Group Inc. now owns 102,367,899 shares of the pharmacy operator’s stock valued at $5,578,027,000 after purchasing an additional 1,167,143 shares during the period. Hedge funds and other institutional investors own 76.17% of the company’s stock.
Shares of CVS Health stock traded up $0.69 during midday trading on Friday, hitting $72.47. 9,245,128 shares of the company were exchanged, compared to its average volume of 6,966,567. The company has a debt-to-equity ratio of 1.39, a current ratio of 0.95 and a quick ratio of 0.64. The firm has a market cap of $87.55 billion, a P/E ratio of 10.24, a PEG ratio of 1.46 and a beta of 0.86. CVS Health Corp has a 52 week low of $51.72 and a 52 week high of $82.15. The firm has a 50 day simple moving average of $64.66 and a 200-day simple moving average of $58.54.
CVS Health (NYSE:CVS) last posted its earnings results on Wednesday, November 6th. The pharmacy operator reported $1.84 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.77 by $0.07. The business had revenue of $64.81 billion during the quarter, compared to the consensus estimate of $62.99 billion. CVS Health had a return on equity of 16.15% and a net margin of 1.91%. CVS Health’s revenue was up 36.5% on a year-over-year basis. During the same quarter last year, the company earned $1.73 EPS. Equities research analysts expect that CVS Health Corp will post 6.99 earnings per share for the current year.
The business also recently announced a quarterly dividend, which was paid on Monday, November 4th. Investors of record on Thursday, October 24th were given a dividend of $0.50 per share. The ex-dividend date of this dividend was Wednesday, October 23rd. This represents a $2.00 annualized dividend and a dividend yield of 2.76%. CVS Health’s dividend payout ratio (DPR) is presently 28.25%.
CVS has been the subject of several recent analyst reports. Raymond James increased their target price on CVS Health from $75.00 to $80.00 and gave the company a “strong-buy” rating in a research note on Thursday. UBS Group reiterated a “buy” rating and issued a $78.00 price objective on shares of CVS Health in a research report on Thursday. Bank of America raised their price objective on CVS Health from $72.00 to $75.00 and gave the stock a “buy” rating in a research report on Thursday, September 12th. Deutsche Bank initiated coverage on CVS Health in a research report on Thursday, September 12th. They issued a “buy” rating and a $91.00 price objective for the company. Finally, ValuEngine upgraded CVS Health from a “strong sell” rating to a “sell” rating in a research report on Wednesday, October 2nd. One analyst has rated the stock with a sell rating, seven have issued a hold rating, eighteen have given a buy rating and one has assigned a strong buy rating to the company. The stock currently has a consensus rating of “Buy” and an average target price of $78.17.
In related news, CFO Eva C. Boratto sold 8,130 shares of the firm’s stock in a transaction that occurred on Thursday, September 12th. The stock was sold at an average price of $65.00, for a total transaction of $528,450.00. Following the completion of the transaction, the chief financial officer now owns 55,273 shares in the company, valued at approximately $3,592,745. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Troyen A. Brennan sold 23,604 shares of the firm’s stock in a transaction that occurred on Monday, November 4th. The stock was sold at an average price of $68.00, for a total value of $1,605,072.00. Following the transaction, the executive vice president now owns 107,921 shares of the company’s stock, valued at approximately $7,338,628. The disclosure for this sale can be found here. Insiders have sold a total of 49,437 shares of company stock valued at $3,248,811 in the last 90 days. 0.53% of the stock is owned by corporate insiders.
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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