Founders Capital Management acquired a new stake in CVS Health Corp (NYSE:CVS) in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor acquired 503 shares of the pharmacy operator’s stock, valued at approximately $37,000.
Several other institutional investors have also made changes to their positions in the company. First American Bank bought a new stake in CVS Health during the 4th quarter valued at $204,000. Telemus Capital LLC raised its holdings in CVS Health by 0.8% during the 4th quarter. Telemus Capital LLC now owns 34,186 shares of the pharmacy operator’s stock valued at $2,540,000 after buying an additional 287 shares during the last quarter. Eqis Capital Management Inc. raised its holdings in CVS Health by 26.4% during the 4th quarter. Eqis Capital Management Inc. now owns 18,587 shares of the pharmacy operator’s stock valued at $1,381,000 after buying an additional 3,886 shares during the last quarter. New York State Teachers Retirement System raised its holdings in CVS Health by 3.2% during the 4th quarter. New York State Teachers Retirement System now owns 1,949,327 shares of the pharmacy operator’s stock valued at $144,816,000 after buying an additional 61,119 shares during the last quarter. Finally, Duff & Phelps Investment Management Co. raised its holdings in CVS Health by 2.1% during the 4th quarter. Duff & Phelps Investment Management Co. now owns 14,505 shares of the pharmacy operator’s stock valued at $1,078,000 after buying an additional 300 shares during the last quarter. 76.67% of the stock is owned by institutional investors.
In related news, EVP Troyen A. Brennan sold 23,604 shares of the stock in a transaction dated 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 sale, the executive vice president now directly owns 107,921 shares of the company’s stock, valued at approximately $7,338,628. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO Jonathan C. Roberts sold 57,563 shares of the stock in a transaction dated Wednesday, January 8th. The shares were sold at an average price of $72.63, for a total transaction of $4,180,800.69. Following the sale, the chief operating officer now directly owns 102,608 shares in the company, valued at $7,452,419.04. The disclosure for this sale can be found here. Insiders have sold a total of 427,786 shares of company stock worth $31,726,338 over the last three months. 0.53% of the stock is currently owned by insiders.
CVS has been the subject of a number of recent analyst reports. SunTrust Banks upped their price target on shares of CVS Health to $85.00 and gave the company a “buy” rating in a report on Thursday, November 7th. Royal Bank of Canada began coverage on shares of CVS Health in a report on Friday, September 27th. They issued an “outperform” rating and a $85.00 price objective for the company. Raymond James restated a “strong-buy” rating and issued a $90.00 price objective (up from $80.00) on shares of CVS Health in a report on Wednesday, December 4th. UBS Group restated a “buy” rating and issued a $78.00 price objective on shares of CVS Health in a report on Thursday, November 7th. Finally, Mizuho upped their price objective on shares of CVS Health from $71.00 to $82.00 and gave the stock a “buy” rating in a report on Friday, November 8th. One research analyst has rated the stock with a sell rating, six have given a hold rating, seventeen have assigned a buy rating and one has given a strong buy rating to the stock. CVS Health currently has a consensus rating of “Buy” and a consensus target price of $77.43.
Shares of CVS Health stock opened at $71.43 on Friday. The company has a debt-to-equity ratio of 1.32, a current ratio of 0.92 and a quick ratio of 0.61. The company has a 50-day moving average of $74.09 and a 200 day moving average of $66.22. The firm has a market cap of $95.66 billion, a price-to-earnings ratio of 21.13, a PEG ratio of 1.57 and a beta of 0.89. CVS Health Corp has a 1 year low of $51.72 and a 1 year high of $77.03.
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, topping the Thomson Reuters’ consensus estimate of $1.77 by $0.07. The company had revenue of $64.81 billion during the quarter, compared to analyst estimates of $62.99 billion. CVS Health had a net margin of 1.83% and a return on equity of 15.45%. CVS Health’s quarterly revenue was up 36.5% compared to the same quarter last year. During the same period last year, the business earned $1.73 EPS. On average, equities analysts anticipate that CVS Health Corp will post 7.03 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Monday, February 3rd. Investors of record on Thursday, January 23rd will be paid a $0.50 dividend. The ex-dividend date of this dividend is Wednesday, January 22nd. This represents a $2.00 annualized dividend and a dividend yield of 2.80%. CVS Health’s payout ratio is 28.25%.
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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