Raymond James Trust N.A. reduced its holdings in shares of CVS Health Corporation (NYSE:CVS) by 0.0% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 124,743 shares of the pharmacy operator’s stock after selling 5 shares during the quarter. CVS Health makes up about 0.8% of Raymond James Trust N.A.’s holdings, making the stock its 28th largest position. Raymond James Trust N.A.’s holdings in CVS Health were worth $10,037,000 at the end of the most recent quarter.
Other institutional investors have also modified their holdings of the company. Boston Partners raised its stake in shares of CVS Health by 69.1% in the second quarter. Boston Partners now owns 6,459,237 shares of the pharmacy operator’s stock valued at $519,711,000 after buying an additional 2,638,888 shares during the period. Prudential Financial Inc. raised its stake in shares of CVS Health by 61.8% in the second quarter. Prudential Financial Inc. now owns 2,946,531 shares of the pharmacy operator’s stock valued at $237,078,000 after buying an additional 1,125,400 shares during the period. Canada Pension Plan Investment Board raised its stake in shares of CVS Health by 89.8% in the second quarter. Canada Pension Plan Investment Board now owns 1,851,099 shares of the pharmacy operator’s stock valued at $148,939,000 after buying an additional 876,027 shares during the period. Veritas Asset Management LLP raised its stake in shares of CVS Health by 11.4% in the second quarter. Veritas Asset Management LLP now owns 8,438,564 shares of the pharmacy operator’s stock valued at $678,967,000 after buying an additional 865,756 shares during the period. Finally, NN Investment Partners Holdings N.V. raised its stake in shares of CVS Health by 141.2% in the second quarter. NN Investment Partners Holdings N.V. now owns 1,427,210 shares of the pharmacy operator’s stock valued at $114,832,000 after buying an additional 835,476 shares during the period. Institutional investors and hedge funds own 81.42% of the company’s stock.
In related news, EVP Thomas M. Moriarty sold 90,267 shares of the business’s stock in a transaction dated Monday, September 11th. The stock was sold at an average price of $79.61, for a total transaction of $7,186,155.87. Following the completion of the transaction, the executive vice president now directly owns 70,102 shares in the company, valued at $5,580,820.22. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, COO Jonathan C. Roberts sold 85,743 shares of the business’s stock in a transaction dated Monday, September 18th. The stock was sold at an average price of $83.14, for a total value of $7,128,673.02. Following the transaction, the chief operating officer now owns 119,555 shares of the company’s stock, valued at $9,939,802.70. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 714,125 shares of company stock valued at $58,119,381. 0.61% of the stock is owned by company insiders.
Shares of CVS Health Corporation (NYSE:CVS) opened at $70.55 on Friday. The company has a debt-to-equity ratio of 0.67, a quick ratio of 0.55 and a current ratio of 1.05. CVS Health Corporation has a one year low of $66.45 and a one year high of $84.72. The stock has a market capitalization of $71,466.59, a price-to-earnings ratio of 12.36, a P/E/G ratio of 1.21 and a beta of 0.86.
CVS Health (NYSE:CVS) last released its quarterly earnings data on Monday, November 6th. The pharmacy operator reported $1.50 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.49 by $0.01. CVS Health had a return on equity of 16.96% and a net margin of 2.77%. The company had revenue of $46.18 billion for the quarter, compared to analyst estimates of $46.17 billion. During the same period in the previous year, the company posted $1.64 EPS. The firm’s revenue for the quarter was up 3.5% compared to the same quarter last year. research analysts anticipate that CVS Health Corporation will post 5.9 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which was paid on Friday, November 3rd. Investors of record on Tuesday, October 24th were given a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a yield of 2.83%. The ex-dividend date of this dividend was Monday, October 23rd. CVS Health’s payout ratio is 41.32%.
Several analysts have issued reports on CVS shares. Royal Bank Of Canada started coverage on CVS Health in a research note on Tuesday, September 19th. They issued an “outperform” rating and a $95.00 target price on the stock. Robert W. Baird restated a “hold” rating and issued a $77.00 target price on shares of CVS Health in a research note on Friday, October 27th. Loop Capital started coverage on CVS Health in a research note on Thursday, August 24th. They issued a “hold” rating and a $83.00 target price on the stock. Jefferies Group LLC set a $86.00 target price on CVS Health and gave the company a “hold” rating in a research note on Wednesday, October 18th. Finally, Wolfe Research lowered CVS Health from an “outperform” rating to a “market perform” rating and lowered their target price for the company from $89.00 to $82.00 in a research note on Monday, August 14th. One research analyst has rated the stock with a sell rating, eight have given a hold rating and fourteen have given a buy rating to the stock. CVS Health has a consensus rating of “Buy” and a consensus target price of $85.82.
CVS Health 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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