KAMES CAPITAL plc purchased a new position in CVS Health Corp (NYSE:CVS) during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund purchased 2,973 shares of the pharmacy operator’s stock, valued at approximately $234,000.
Other large investors have also added to or reduced their stakes in the company. Adviser Investments LLC lifted its stake in shares of CVS Health by 43.3% in the second quarter. Adviser Investments LLC now owns 2,993 shares of the pharmacy operator’s stock worth $193,000 after acquiring an additional 905 shares in the last quarter. Keystone Financial Planning Inc. lifted its stake in shares of CVS Health by 44.5% in the second quarter. Keystone Financial Planning Inc. now owns 59,038 shares of the pharmacy operator’s stock worth $3,799,000 after acquiring an additional 18,176 shares in the last quarter. Schwab Charles Investment Management Inc. lifted its stake in shares of CVS Health by 4.3% in the second quarter. Schwab Charles Investment Management Inc. now owns 7,332,665 shares of the pharmacy operator’s stock worth $471,857,000 after acquiring an additional 300,887 shares in the last quarter. Waddell & Reed Financial Inc. lifted its stake in shares of CVS Health by 21.5% in the second quarter. Waddell & Reed Financial Inc. now owns 993,394 shares of the pharmacy operator’s stock worth $63,925,000 after acquiring an additional 175,725 shares in the last quarter. Finally, ICM Asset Management Inc. WA acquired a new position in shares of CVS Health in the second quarter worth about $1,152,000. Institutional investors and hedge funds own 82.75% of the company’s stock.
Shares of NYSE CVS opened at $74.58 on Friday. CVS Health Corp has a 52-week low of $60.14 and a 52-week high of $83.88. The company has a market cap of $80.14 billion, a price-to-earnings ratio of 12.64, a PEG ratio of 1.05 and a beta of 1.02. The company has a debt-to-equity ratio of 1.73, a quick ratio of 1.87 and a current ratio of 2.34.
CVS Health (NYSE:CVS) last announced its quarterly earnings data on Wednesday, August 8th. The pharmacy operator reported $1.69 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.61 by $0.08. The firm had revenue of $46.71 billion for the quarter, compared to analysts’ expectations of $46.34 billion. CVS Health had a return on equity of 18.25% and a net margin of 1.61%. CVS Health’s revenue for the quarter was up 2.2% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.33 earnings per share. As a group, equities research analysts predict that CVS Health Corp will post 7.05 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Thursday, November 1st. Stockholders of record on Wednesday, October 24th will be given a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a dividend yield of 2.68%. The ex-dividend date of this dividend is Tuesday, October 23rd. CVS Health’s payout ratio is 33.90%.
CVS has been the topic of several recent analyst reports. ValuEngine cut CVS Health from a “sell” rating to a “strong sell” rating in a research note on Tuesday, September 4th. Bank of America upped their price objective on CVS Health from $86.00 to $90.00 and gave the company a “buy” rating in a research note on Monday, September 17th. Royal Bank of Canada upped their price objective on CVS Health to $101.00 and gave the company an “outperform” rating in a research note on Tuesday, September 18th. Citigroup restated a “buy” rating and set a $81.00 price objective on shares of CVS Health in a research note on Monday, July 9th. Finally, Leerink Swann set a $80.00 price objective on CVS Health and gave the company an “outperform” rating in a research note on Thursday, August 9th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating, ten have assigned a buy rating and two have issued a strong buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus target price of $86.31.
In other news, EVP Lisa Bisaccia sold 21,534 shares of the stock in a transaction that occurred on Monday, October 1st. The stock was sold at an average price of $80.00, for a total transaction of $1,722,720.00. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, EVP Eva C. Boratto sold 13,311 shares of the stock in a transaction that occurred on Monday, September 17th. The stock was sold at an average price of $77.16, for a total value of $1,027,076.76. Following the sale, the executive vice president now owns 55,162 shares in the company, valued at $4,256,299.92. The disclosure for this sale can be found here. Insiders have sold a total of 43,409 shares of company stock worth $3,392,097 over the last quarter. Insiders own 0.53% of the company’s stock.
CVS Health Company Profile
CVS Health Corporation, together with its subsidiaries, provides integrated pharmacy health care services. It operates through Pharmacy Services and Retail/LTC segments. The Pharmacy Services segment offers pharmacy benefit management solutions, such as plan design and administration, formulary management, Medicare Part D services, mail order, specialty pharmacy and infusion services, retail pharmacy network management services, prescription management systems, clinical services, disease management programs, and medical pharmacy management services.
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