Metropolitan Life Insurance Co. NY raised its holdings in CVS Health Corp (NYSE:CVS) by 29.9% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 192,819 shares of the pharmacy operator’s stock after acquiring an additional 44,351 shares during the period. Metropolitan Life Insurance Co. NY’s holdings in CVS Health were worth $12,634,000 as of its most recent filing with the Securities and Exchange Commission.
Other large investors have also bought and sold shares of the company. Bell Rock Capital LLC boosted its position in shares of CVS Health by 764.0% during the fourth quarter. Bell Rock Capital LLC now owns 432 shares of the pharmacy operator’s stock worth $28,000 after buying an additional 382 shares during the period. Daiwa SB Investments Ltd. acquired a new position in shares of CVS Health during the fourth quarter worth about $30,000. Acima Private Wealth LLC acquired a new position in shares of CVS Health during the fourth quarter worth about $33,000. Murphy Pohlad Asset Management LLC acquired a new position in shares of CVS Health during the fourth quarter worth about $39,000. Finally, Cornerstone Advisors Inc. boosted its position in shares of CVS Health by 71.6% during the third quarter. Cornerstone Advisors Inc. now owns 508 shares of the pharmacy operator’s stock worth $40,000 after buying an additional 212 shares during the period. 81.55% of the stock is owned by hedge funds and other institutional investors.
CVS opened at $53.90 on Wednesday. CVS Health Corp has a 52-week low of $51.77 and a 52-week high of $82.15. The stock has a market cap of $70.40 billion, a P/E ratio of 7.70, a P/E/G ratio of 1.06 and a beta of 0.94. The company has a debt-to-equity ratio of 1.22, a quick ratio of 0.65 and a current ratio of 1.03.
CVS Health (NYSE:CVS) last released its earnings results on Wednesday, February 20th. The pharmacy operator reported $2.14 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.07 by $0.07. CVS Health had a positive return on equity of 17.49% and a negative net margin of 0.31%. The business had revenue of $54.42 billion for the quarter, compared to analyst estimates of $53.78 billion. During the same quarter in the prior year, the company posted $1.92 earnings per share. CVS Health’s revenue was up 12.5% on a year-over-year basis. Equities research analysts predict that CVS Health Corp will post 6.8 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Friday, May 3rd. Investors of record on Tuesday, April 23rd will be issued a dividend of $0.50 per share. The ex-dividend date is Monday, April 22nd. This represents a $2.00 annualized dividend and a yield of 3.71%. CVS Health’s payout ratio is presently 28.25%.
Several research analysts have recently weighed in on the company. CIBC reaffirmed a “market perform” rating on shares of CVS Health in a research report on Monday. Oppenheimer cut CVS Health from an “outperform” rating to a “market perform” rating in a research report on Monday. Barclays set a $73.00 price objective on CVS Health and gave the stock a “buy” rating in a research report on Thursday, April 11th. BMO Capital Markets assumed coverage on CVS Health in a research report on Wednesday, April 10th. They set an “outperform” rating and a $58.00 price objective for the company. Finally, SunTrust Banks reduced their price objective on CVS Health from $85.00 to $65.00 in a research report on Wednesday, April 10th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and sixteen have assigned a buy rating to the company. CVS Health currently has a consensus rating of “Buy” and a consensus price target of $79.61.
In other CVS Health news, insider Larry J. Merlo sold 166,368 shares of the company’s stock in a transaction that occurred on Friday, February 1st. The stock was sold at an average price of $64.51, for a total value of $10,732,399.68. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director David W. Dorman acquired 9,600 shares of the company’s stock in a transaction on Friday, March 8th. The stock was acquired at an average price of $52.71 per share, for a total transaction of $506,016.00. Following the purchase, the director now directly owns 122,302 shares of the company’s stock, valued at $6,446,538.42. The disclosure for this purchase can be found here. In the last quarter, insiders have purchased 23,600 shares of company stock worth $1,270,896 and have sold 245,671 shares worth $15,839,966. Corporate insiders own 0.53% of the company’s stock.
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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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