Morningstar Investment Services LLC Reduces Stake in CVS Health Corporation (CVS)

Morningstar Investment Services LLC decreased its position in CVS Health Corporation (NYSE:CVS) by 3.9% during the first quarter, according to its most recent filing with the SEC. The fund owned 5,857 shares of the pharmacy operator’s stock after selling 240 shares during the period. Morningstar Investment Services LLC’s holdings in CVS Health Corporation were worth $460,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. Norges Bank bought a new stake in CVS Health Corporation during the fourth quarter worth $800,355,000. Macquarie Group Ltd. boosted its stake in CVS Health Corporation by 16.6% in the fourth quarter. Macquarie Group Ltd. now owns 9,526,280 shares of the pharmacy operator’s stock worth $751,719,000 after buying an additional 1,359,100 shares during the last quarter. Parnassus Investments CA boosted its stake in CVS Health Corporation by 2.9% in the first quarter. Parnassus Investments CA now owns 6,237,016 shares of the pharmacy operator’s stock worth $473,605,000 after buying an additional 175,695 shares during the last quarter. Bank of Montreal Can boosted its stake in CVS Health Corporation by 10.7% in the first quarter. Bank of Montreal Can now owns 4,939,142 shares of the pharmacy operator’s stock worth $387,722,000 after buying an additional 475,722 shares during the last quarter. Finally, LSV Asset Management boosted its stake in CVS Health Corporation by 44.2% in the first quarter. LSV Asset Management now owns 4,579,916 shares of the pharmacy operator’s stock worth $359,523,000 after buying an additional 1,404,384 shares during the last quarter. 82.09% of the stock is currently owned by hedge funds and other institutional investors.

CVS Health Corporation (NYSE:CVS) opened at 77.03 on Monday. The stock’s 50 day moving average is $78.76 and its 200 day moving average is $79.29. The firm has a market cap of $78.48 billion, a price-to-earnings ratio of 16.06 and a beta of 0.91. CVS Health Corporation has a one year low of $69.30 and a one year high of $98.66.

CVS Health Corporation (NYSE:CVS) last announced its quarterly earnings results on Tuesday, May 2nd. The pharmacy operator reported $1.17 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.10 by $0.07. The business had revenue of $44.51 billion for the quarter, compared to analyst estimates of $44.20 billion. CVS Health Corporation had a net margin of 2.86% and a return on equity of 17.56%. The company’s revenue was up 3.0% on a year-over-year basis. During the same quarter last year, the firm earned $1.18 EPS. On average, analysts predict that CVS Health Corporation will post $5.87 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Thursday, August 3rd. Stockholders of record on Monday, July 24th will be paid a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a dividend yield of 2.60%. The ex-dividend date of this dividend is Thursday, July 20th. CVS Health Corporation’s payout ratio is 41.67%.

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Several analysts recently weighed in on the stock. Jefferies Group LLC reissued a “hold” rating and issued a $82.00 price objective on shares of CVS Health Corporation in a research note on Friday, June 9th. Vetr raised shares of CVS Health Corporation from a “buy” rating to a “strong-buy” rating and set a $87.97 price objective on the stock in a research note on Wednesday, May 24th. Evercore ISI reissued an “outperform” rating and issued a $88.00 price objective (up previously from $87.00) on shares of CVS Health Corporation in a research note on Wednesday, May 3rd. Cowen and Company reissued an “outperform” rating and issued a $86.00 price objective on shares of CVS Health Corporation in a research note on Tuesday, June 13th. Finally, Tigress Financial assumed coverage on shares of CVS Health Corporation in a research note on Thursday, April 27th. They issued a “buy” rating on the stock. Nine research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. The company currently has a consensus rating of “Buy” and an average price target of $93.67.

In other news, EVP Helena Foulkes sold 20,333 shares of CVS Health Corporation stock in a transaction dated Monday, June 26th. The shares were sold at an average price of $80.00, for a total transaction of $1,626,640.00. Following the sale, the executive vice president now owns 59,301 shares of the company’s stock, valued at approximately $4,744,080. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO David M. Denton sold 230,510 shares of CVS Health Corporation stock in a transaction dated Monday, June 12th. The shares were sold at an average price of $80.00, for a total transaction of $18,440,800.00. Following the sale, the chief financial officer now directly owns 176,983 shares in the company, valued at approximately $14,158,640. The disclosure for this sale can be found here. Insiders have sold a total of 271,175 shares of company stock worth $21,632,597 in the last ninety days. Insiders own 0.61% of the company’s stock.

CVS Health Corporation Company Profile

CVS Health Corporation, together with its subsidiaries, is an integrated pharmacy healthcare company. The Company provides pharmacy care for the senior community through Omnicare, Inc (Omnicare) and Omnicare’s long-term care (LTC) operations, which include distribution of pharmaceuticals, related pharmacy consulting and other ancillary services to chronic care facilities and other care settings.

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Institutional Ownership by Quarter for CVS Health Corporation (NYSE:CVS)

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