10 15 Associates Inc. grew its holdings in CVS Health Corp (NYSE:CVS) by 1.1% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 38,504 shares of the pharmacy operator’s stock after purchasing an additional 424 shares during the quarter. 10 15 Associates Inc.’s holdings in CVS Health were worth $2,860,000 as of its most recent filing with the SEC.
A number of other institutional investors have also bought and sold shares of CVS. Macquarie Group Ltd. boosted its stake in CVS Health by 10.9% in the second 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 in the last quarter. Prudential PLC boosted its stake in CVS Health by 54.8% in the second quarter. Prudential PLC now owns 3,737,874 shares of the pharmacy operator’s stock worth $203,137,000 after purchasing an additional 1,323,366 shares in the last quarter. Parnassus Investments CA boosted its stake in CVS Health by 14.1% in the third quarter. Parnassus Investments CA now owns 8,261,294 shares of the pharmacy operator’s stock worth $521,040,000 after purchasing an additional 1,020,904 shares in the last quarter. Artemis Investment Management LLP acquired a new position in CVS Health in the third quarter worth $41,422,000. Finally, Haverford Trust Co. boosted its stake in CVS Health by 41.4% in the third quarter. Haverford Trust Co. now owns 2,231,574 shares of the pharmacy operator’s stock worth $140,745,000 after purchasing an additional 652,905 shares in the last quarter. 76.67% of the stock is currently owned by institutional investors.
In other CVS Health news, EVP Karen S. Lynch sold 80,143 shares of the stock in a transaction dated Monday, November 18th. The stock was sold at an average price of $75.00, for a total value of $6,010,725.00. Following the transaction, the executive vice president now owns 41,831 shares of the company’s stock, valued at $3,137,325. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Larry J. Merlo sold 266,476 shares of the stock in a transaction dated Wednesday, January 15th. The shares were sold at an average price of $74.79, for a total value of $19,929,740.04. Following the completion of the transaction, the chief executive officer now directly owns 703,497 shares in the company, valued at approximately $52,614,540.63. The disclosure for this sale can be found here. Insiders sold 427,786 shares of company stock worth $31,726,338 in the last three months. Insiders own 0.53% of the company’s stock.
Shares of CVS opened at $71.43 on Friday. The company has a quick ratio of 0.61, a current ratio of 0.92 and a debt-to-equity ratio of 1.32. CVS Health Corp has a 12-month low of $51.72 and a 12-month high of $77.03. The firm has a market capitalization of $95.66 billion, a PE ratio of 21.13, a price-to-earnings-growth ratio of 1.57 and a beta of 0.89. The stock’s fifty day simple moving average is $74.09 and its 200-day simple moving average is $66.22.
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, beating the 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 business had revenue of $64.81 billion for the quarter, compared to analyst estimates of $62.99 billion. During the same quarter in the prior year, the firm posted $1.73 earnings per share. The firm’s revenue for the quarter was up 36.5% compared to the same quarter last year. Analysts anticipate 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. Shareholders of record on Thursday, January 23rd will be paid a $0.50 dividend. This represents a $2.00 annualized dividend and a yield of 2.80%. The ex-dividend date is Wednesday, January 22nd. CVS Health’s payout ratio is 28.25%.
A number of equities analysts have commented on the company. Citigroup boosted their price objective 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. JPMorgan Chase & Co. boosted their price objective on CVS Health from $88.00 to $97.00 and gave the stock an “overweight” rating in a research note on Thursday, December 19th. UBS Group reissued a “buy” rating and issued a $78.00 price objective 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 objective on the stock. Finally, Cowen set a $76.00 price objective on CVS Health and gave the stock a “buy” rating in a research note on Monday, October 21st. One analyst has rated the stock with a sell rating, six have given a hold rating, seventeen have given a buy rating and one has assigned a strong buy rating to the company. The company currently has a consensus rating of “Buy” and an average target price of $77.43.
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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