SG Americas Securities LLC increased its holdings in shares of CVS Health Corp (NYSE:CVS) by 8.8% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 275,190 shares of the pharmacy operator’s stock after acquiring an additional 22,142 shares during the quarter. SG Americas Securities LLC’s holdings in CVS Health were worth $17,356,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also added to or reduced their stakes in the stock. Haverford Trust Co. boosted its holdings in shares of CVS Health by 41.4% in the third quarter. Haverford Trust Co. now owns 2,231,574 shares of the pharmacy operator’s stock valued at $140,745,000 after acquiring an additional 652,905 shares in the last quarter. Haverford Financial Services Inc. boosted its holdings in shares of CVS Health by 8.2% in the third quarter. Haverford Financial Services Inc. now owns 190,307 shares of the pharmacy operator’s stock valued at $12,003,000 after acquiring an additional 14,358 shares in the last quarter. Daiwa Securities Group Inc. boosted its holdings in shares of CVS Health by 1.8% in the third quarter. Daiwa Securities Group Inc. now owns 67,310 shares of the pharmacy operator’s stock valued at $4,245,000 after acquiring an additional 1,202 shares in the last quarter. Appleton Partners Inc. MA bought a new position in shares of CVS Health in the third quarter valued at approximately $207,000. Finally, Eastern Bank boosted its holdings in shares of CVS Health by 1.6% in the third quarter. Eastern Bank now owns 217,717 shares of the pharmacy operator’s stock valued at $13,731,000 after acquiring an additional 3,353 shares in the last quarter. Hedge funds and other institutional investors own 76.17% of the company’s stock.
In related news, CFO Eva C. Boratto sold 8,130 shares of the company’s stock in a transaction that occurred on Thursday, September 12th. The shares were sold at an average price of $65.00, for a total value of $528,450.00. Following the completion of the sale, the chief financial officer now owns 55,273 shares in the company, valued at approximately $3,592,745. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, EVP Joshua Matthew Flum sold 17,703 shares of the company’s stock in a transaction that occurred on Monday, September 30th. The shares were sold at an average price of $63.00, for a total transaction of $1,115,289.00. Following the completion of the sale, the executive vice president now owns 36,163 shares of the company’s stock, valued at approximately $2,278,269. The disclosure for this sale can be found here. In the last 90 days, insiders sold 49,437 shares of company stock valued at $3,248,811. 0.53% of the stock is owned by insiders.
NYSE:CVS traded up $0.69 during trading hours on Friday, reaching $72.47. 9,245,128 shares of the company’s stock were exchanged, compared to its average volume of 6,966,567. The company has a market capitalization of $87.55 billion, a P/E ratio of 10.24, a price-to-earnings-growth ratio of 1.46 and a beta of 0.86. CVS Health Corp has a 12 month low of $51.72 and a 12 month high of $82.15. The company has a quick ratio of 0.64, a current ratio of 0.95 and a debt-to-equity ratio of 1.39. The business’s 50-day simple moving average is $64.49 and its two-hundred day simple moving average is $58.44.
CVS Health (NYSE:CVS) last issued its quarterly earnings results on Wednesday, November 6th. The pharmacy operator reported $1.84 EPS for the quarter, beating 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 net margin of 1.91% and a return on equity of 16.15%. The firm’s quarterly revenue was up 36.5% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.73 EPS. As a group, sell-side analysts anticipate that CVS Health Corp will post 6.99 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Monday, November 4th. Investors of record on Thursday, October 24th were given a $0.50 dividend. The ex-dividend date 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%.
Several research analysts have recently issued reports on the stock. Morgan Stanley increased their price objective on shares of CVS Health from $74.00 to $77.00 and gave the company an “overweight” rating in a report on Thursday, September 26th. Deutsche Bank assumed coverage on shares of CVS Health in a report on Thursday, September 12th. They issued a “buy” rating and a $91.00 price objective for the company. Raymond James increased their price objective on shares of CVS Health from $75.00 to $80.00 and gave the company a “strong-buy” rating in a report on Thursday. ValuEngine upgraded shares of CVS Health from a “strong sell” rating to a “sell” rating in a report on Wednesday, October 2nd. Finally, Evercore ISI set a $63.00 price objective on shares of CVS Health and gave the company a “buy” rating in a report on Wednesday, August 7th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating, eighteen have issued a buy rating and one has given a strong buy rating to the company. The stock currently has an average rating of “Buy” and an average target price of $78.17.
About CVS Health
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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