Benin Management CORP raised its holdings in shares of CVS Health Corp (NYSE:CVS) by 6.0% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 16,104 shares of the pharmacy operator’s stock after purchasing an additional 915 shares during the period. Benin Management CORP’s holdings in CVS Health were worth $1,196,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also added to or reduced their stakes in CVS. Signet Financial Management LLC grew its holdings in shares of CVS Health by 8.4% during the 3rd quarter. Signet Financial Management LLC now owns 5,066 shares of the pharmacy operator’s stock worth $363,000 after acquiring an additional 391 shares during the period. Point72 Asset Management L.P. purchased a new position in shares of CVS Health during the 3rd quarter worth approximately $22,738,000. Regal Investment Advisors LLC grew its holdings in shares of CVS Health by 349.5% during the 3rd quarter. Regal Investment Advisors LLC now owns 43,073 shares of the pharmacy operator’s stock worth $2,717,000 after acquiring an additional 33,491 shares during the period. River & Mercantile Asset Management LLP grew its holdings in shares of CVS Health by 17.5% during the 2nd quarter. River & Mercantile Asset Management LLP now owns 154,572 shares of the pharmacy operator’s stock worth $8,425,000 after acquiring an additional 23,061 shares during the period. Finally, Artemis Investment Management LLP purchased a new position in shares of CVS Health during the 3rd quarter worth approximately $41,422,000. 76.67% of the stock is owned by institutional investors and hedge funds.
Shares of CVS Health stock opened at $73.53 on Friday. CVS Health Corp has a one year low of $51.72 and a one year high of $77.03. The stock’s fifty day moving average is $74.15 and its 200 day moving average is $66.14. The stock has a market cap of $96.28 billion, a P/E ratio of 21.75, a P/E/G ratio of 1.58 and a beta of 0.89. The company has a debt-to-equity ratio of 1.32, a quick ratio of 0.61 and a current ratio of 0.92.
CVS Health (NYSE:CVS) last announced its earnings results on Wednesday, November 6th. The pharmacy operator reported $1.84 EPS for the quarter, topping the Zacks’ consensus estimate of $1.77 by $0.07. CVS Health had a return on equity of 15.45% and a net margin of 1.83%. The company had revenue of $64.81 billion for the quarter, compared to analysts’ expectations of $62.99 billion. During the same period last year, the firm earned $1.73 EPS. CVS Health’s revenue for the quarter was up 36.5% compared to the same quarter last year. Analysts predict that CVS Health Corp will post 7.03 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Monday, February 3rd. Investors of record on Thursday, January 23rd will be issued a $0.50 dividend. The ex-dividend date is Wednesday, January 22nd. This represents a $2.00 dividend on an annualized basis and a yield of 2.72%. CVS Health’s dividend payout ratio is currently 28.25%.
A number of research analysts have weighed in on the company. SunTrust Banks upped their target price on CVS Health to $85.00 and gave the stock a “buy” rating in a report on Thursday, November 7th. UBS Group restated a “buy” rating and issued a $78.00 price target on shares of CVS Health in a research note on Thursday, November 7th. Royal Bank of Canada assumed coverage on CVS Health in a research note on Friday, September 27th. They issued an “outperform” rating and a $85.00 price target on the stock. Mizuho upped their price target on CVS Health from $71.00 to $82.00 and gave the stock a “buy” rating in a research note on Friday, November 8th. Finally, Citigroup upped their price target on CVS Health from $72.00 to $83.00 and gave the stock a “buy” rating in a research note on Thursday, November 7th. They noted that the move was a valuation call. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating, seventeen have given a buy rating and one has given a strong buy rating to the stock. The stock has a consensus rating of “Buy” and an average price target of $77.43.
In other CVS Health news, EVP Troyen A. Brennan sold 23,604 shares of the firm’s stock in a transaction dated 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 sale, the executive vice president now directly owns 107,921 shares of the company’s stock, valued at $7,338,628. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, EVP Karen S. Lynch sold 80,143 shares of the firm’s stock in a transaction dated Monday, November 18th. The shares were sold at an average price of $75.00, for a total value of $6,010,725.00. Following the sale, the executive vice president now directly owns 41,831 shares in the company, valued at $3,137,325. The disclosure for this sale can be found here. Over the last three months, insiders have sold 427,786 shares of company stock worth $31,726,338. Insiders own 0.53% of the company’s stock.
CVS Health Company 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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