Thompson Investment Management Inc. lessened its stake in CVS Health Corp (NYSE:CVS) by 2.1% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 110,899 shares of the pharmacy operator’s stock after selling 2,345 shares during the period. CVS Health accounts for approximately 1.4% of Thompson Investment Management Inc.’s investment portfolio, making the stock its 20th largest holding. Thompson Investment Management Inc.’s holdings in CVS Health were worth $6,994,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds also recently bought and sold shares of the business. Centaurus Financial Inc. raised its holdings in shares of CVS Health by 570.8% in the first quarter. Centaurus Financial Inc. now owns 1,630 shares of the pharmacy operator’s stock valued at $30,000 after purchasing an additional 1,387 shares during the last quarter. Neville Rodie & Shaw Inc. purchased a new stake in shares of CVS Health in the second quarter valued at about $3,041,000. Cox Capital Mgt LLC purchased a new stake in shares of CVS Health in the second quarter valued at about $366,000. Boltwood Capital Management raised its holdings in shares of CVS Health by 32.4% in the second quarter. Boltwood Capital Management now owns 12,020 shares of the pharmacy operator’s stock valued at $655,000 after purchasing an additional 2,940 shares during the last quarter. Finally, Thomasville National Bank raised its holdings in shares of CVS Health by 4.6% in the second quarter. Thomasville National Bank now owns 231,853 shares of the pharmacy operator’s stock valued at $12,634,000 after purchasing an additional 10,295 shares during the last quarter. Institutional investors own 76.17% of the company’s stock.
Shares of CVS traded up $0.69 during trading hours on Friday, hitting $72.47. The company’s stock had a trading volume of 9,245,128 shares, compared to its average volume of 6,966,567. The company has a market cap of $87.55 billion, a price-to-earnings ratio of 10.24, a PEG ratio of 1.46 and a beta of 0.86. 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 business has a 50 day simple moving average of $64.49 and a two-hundred day simple moving average of $58.44. CVS Health Corp has a 52-week low of $51.72 and a 52-week high of $82.15.
CVS Health (NYSE:CVS) last posted its earnings results on Wednesday, November 6th. The pharmacy operator reported $1.84 earnings per share for the quarter, topping the consensus estimate of $1.77 by $0.07. The firm 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 company’s revenue was up 36.5% on a year-over-year basis. During the same quarter last year, the company earned $1.73 earnings per share. Research analysts predict that CVS Health Corp will post 6.99 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which was paid on Monday, November 4th. Stockholders of record on Thursday, October 24th were paid a $0.50 dividend. 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 payout ratio is 28.25%.
In other news, CFO Eva C. Boratto sold 8,130 shares of the firm’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 transaction, the chief financial officer now directly owns 55,273 shares in the company, valued at $3,592,745. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Troyen A. Brennan sold 23,604 shares of the firm’s stock in a transaction that occurred on Monday, November 4th. The shares were sold at an average price of $68.00, for a total transaction of $1,605,072.00. Following the completion of the transaction, the executive vice president now owns 107,921 shares of the company’s stock, valued at $7,338,628. The disclosure for this sale can be found here. Insiders sold 49,437 shares of company stock valued at $3,248,811 in the last quarter. Corporate insiders own 0.53% of the company’s stock.
Several analysts have recently commented on the stock. TheStreet upgraded shares of CVS Health from a “c+” rating to a “b-” rating in a report on Monday, September 9th. Cowen set a $76.00 price objective on shares of CVS Health and gave the stock a “buy” rating in a report on Monday, October 21st. Raymond James raised their price objective on shares of CVS Health from $75.00 to $80.00 and gave the stock a “strong-buy” rating in a report on Thursday. Evercore ISI set a $63.00 price objective on shares of CVS Health and gave the stock a “buy” rating in a report on Wednesday, August 7th. Finally, Citigroup raised their price objective on shares of CVS Health from $72.00 to $83.00 and gave the stock a “buy” rating in a report on Thursday. They noted that the move was a valuation call. One analyst has rated the stock with a sell rating, seven have assigned a hold rating, eighteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The stock has an average rating of “Buy” and an average price target 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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