Bartlett & Co. LLC lowered its holdings in shares of CVS Health Corp (NYSE:CVS) by 3.6% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 40,018 shares of the pharmacy operator’s stock after selling 1,511 shares during the period. Bartlett & Co. LLC’s holdings in CVS Health were worth $2,524,000 as of its most recent SEC filing.
A number of other large investors have also modified their holdings of CVS. Vanguard Group Inc. increased its holdings 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 acquiring an additional 1,167,143 shares in the last quarter. Northern Trust Corp boosted its stake in shares of CVS Health by 1.1% during the 2nd quarter. Northern Trust Corp now owns 18,328,099 shares of the pharmacy operator’s stock worth $998,699,000 after purchasing an additional 205,275 shares during the last quarter. Macquarie Group Ltd. boosted its stake in shares of CVS Health by 10.9% during the 2nd quarter. Macquarie Group Ltd. now owns 13,905,440 shares of the pharmacy operator’s stock worth $757,707,000 after purchasing an additional 1,372,275 shares during the last quarter. Morgan Stanley boosted its stake in shares of CVS Health by 12.8% during the 2nd quarter. Morgan Stanley now owns 13,765,635 shares of the pharmacy operator’s stock worth $750,088,000 after purchasing an additional 1,560,142 shares during the last quarter. Finally, Veritas Asset Management LLP boosted its stake in shares of CVS Health by 0.7% during the 2nd quarter. Veritas Asset Management LLP now owns 12,269,758 shares of the pharmacy operator’s stock worth $668,579,000 after purchasing an additional 90,700 shares during the last quarter. Hedge funds and other institutional investors own 76.17% of the company’s stock.
Shares of CVS traded up $0.70 during mid-day trading on Friday, reaching $72.48. 5,893,108 shares of the stock traded hands, compared to its average volume of 6,966,567. The firm has a market cap of $87.55 billion, a price-to-earnings ratio of 10.24, a P/E/G ratio of 1.46 and a beta of 0.86. The stock has a fifty day simple moving average of $64.49 and a 200 day simple moving average of $58.44. 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.
CVS Health (NYSE:CVS) last issued its quarterly earnings results on Wednesday, November 6th. The pharmacy operator reported $1.84 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.77 by $0.07. The business had revenue of $64.81 billion during the quarter, compared to analyst estimates of $62.99 billion. CVS Health had a net margin of 1.91% and a return on equity of 16.15%. The business’s revenue was up 36.5% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.73 earnings per share. On average, equities research analysts expect that CVS Health Corp will post 6.99 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Monday, November 4th. Investors of record on Thursday, October 24th were paid a $0.50 dividend. The ex-dividend date was Wednesday, October 23rd. This represents a $2.00 dividend on an annualized basis and a dividend yield of 2.76%. CVS Health’s dividend payout ratio (DPR) is presently 28.25%.
In related news, CFO Eva C. Boratto sold 8,130 shares of CVS Health stock in a transaction 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 $3,592,745. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Troyen A. Brennan sold 23,604 shares of CVS Health stock in a transaction on Monday, November 4th. The stock was sold at an average price of $68.00, for a total transaction of $1,605,072.00. Following the completion of the sale, 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. In the last 90 days, insiders sold 49,437 shares of company stock valued at $3,248,811. Insiders own 0.53% of the company’s stock.
Several research firms recently issued reports on CVS. Deutsche Bank began coverage on shares of CVS Health in a research report on Thursday, September 12th. They issued a “buy” rating and a $91.00 target price on the stock. Morgan Stanley raised their target price on shares of CVS Health from $74.00 to $77.00 and gave the stock an “overweight” rating in a research report on Thursday, September 26th. ValuEngine raised shares of CVS Health from a “strong sell” rating to a “sell” rating in a research report on Wednesday, October 2nd. Bank of America raised their target price on shares of CVS Health from $72.00 to $75.00 and gave the stock a “buy” rating in a research report on Thursday, September 12th. Finally, Mizuho raised their target price on shares of CVS Health from $71.00 to $82.00 and gave the stock a “buy” rating in a research report on Friday. One research analyst has rated the stock with a sell rating, seven have given a hold rating, eighteen have assigned a buy rating and one has issued a strong buy rating to the stock. The company has an average rating of “Buy” and an average price target of $78.17.
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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