Resources Management Corp CT ADV purchased a new stake in CVS Health Corp (NYSE:CVS) in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 115,175 shares of the pharmacy operator’s stock, valued at approximately $7,264,000. CVS Health accounts for approximately 1.3% of Resources Management Corp CT ADV’s portfolio, making the stock its 24th biggest position.
Other large investors also recently made changes to their positions in the company. Nuveen Asset Management LLC grew its stake in shares of CVS Health by 16,194.7% during the 2nd quarter. Nuveen Asset Management LLC now owns 12,112,044 shares of the pharmacy operator’s stock worth $659,986,000 after purchasing an additional 12,037,713 shares during the period. Morgan Stanley boosted its holdings in CVS Health by 12.8% during the second quarter. Morgan Stanley now owns 13,765,635 shares of the pharmacy operator’s stock worth $750,088,000 after buying an additional 1,560,142 shares in the last quarter. Macquarie Group Ltd. boosted its holdings in CVS Health by 10.9% during the second quarter. Macquarie Group Ltd. now owns 13,905,440 shares of the pharmacy operator’s stock worth $757,707,000 after buying an additional 1,372,275 shares in the last quarter. Prudential PLC grew its position in CVS Health by 54.8% during the second quarter. Prudential PLC now owns 3,737,874 shares of the pharmacy operator’s stock valued at $203,137,000 after buying an additional 1,323,366 shares during the period. Finally, Vanguard Group Inc. grew its position in CVS Health by 1.2% during the second quarter. Vanguard Group Inc. now owns 102,367,899 shares of the pharmacy operator’s stock valued at $5,578,027,000 after buying an additional 1,167,143 shares during the period. 76.74% of the stock is owned by institutional investors.
Several research firms have recently issued reports on CVS. ValuEngine raised shares of CVS Health from a “strong sell” rating to a “sell” rating in a research note on Wednesday, October 2nd. Evercore ISI set a $63.00 price target on CVS Health and gave the company a “buy” rating in a research note on Wednesday, August 7th. Mizuho upped their price target on CVS Health from $71.00 to $82.00 and gave the stock a “buy” rating in a report on Friday, November 8th. UBS Group reaffirmed a “buy” rating and issued a $78.00 price target on shares of CVS Health in a report on Thursday, November 7th. Finally, Citigroup increased their price target on CVS Health from $72.00 to $83.00 and gave the stock a “buy” rating in a research report on Thursday, November 7th. They noted that the move was a valuation call. One research analyst has rated the stock with a sell rating, six have given a hold rating, eighteen have given a buy rating and one has given a strong buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average price target of $77.14.
In other CVS Health news, EVP Joshua Matthew Flum sold 17,703 shares of the stock in a transaction dated Monday, September 30th. The shares were sold at an average price of $63.00, for a total transaction of $1,115,289.00. Following the completion of the transaction, the executive vice president now owns 36,163 shares of the company’s stock, valued at $2,278,269. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Eva C. Boratto sold 8,130 shares of CVS Health stock in a transaction dated Thursday, September 12th. The shares were sold at an average price of $65.00, for a total transaction of $528,450.00. Following the sale, the chief financial officer now owns 55,273 shares of the company’s stock, valued at $3,592,745. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 129,580 shares of company stock worth $9,259,536. 0.53% of the stock is owned by insiders.
CVS Health stock traded up $0.29 during mid-day trading on Wednesday, hitting $75.00. The company’s stock had a trading volume of 4,948,489 shares, compared to its average volume of 9,867,358. The stock’s fifty day moving average is $70.48 and its two-hundred day moving average is $60.94. The company has a current ratio of 0.92, a quick ratio of 0.61 and a debt-to-equity ratio of 1.32. The firm has a market capitalization of $97.92 billion, a PE ratio of 10.59, a price-to-earnings-growth ratio of 1.62 and a beta of 0.88. CVS Health Corp has a 1 year low of $51.72 and a 1 year high of $78.06.
CVS Health (NYSE:CVS) last announced its quarterly earnings results on Wednesday, November 6th. The pharmacy operator reported $1.84 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.77 by $0.07. The business had revenue of $64.81 billion for the quarter, compared to analyst estimates of $62.99 billion. CVS Health had a return on equity of 15.45% and a net margin of 1.83%. The company’s quarterly revenue was up 36.5% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.73 EPS. On average, equities analysts expect that CVS Health Corp will post 7.03 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Monday, November 4th. Investors of record on Thursday, October 24th were given a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a dividend yield of 2.67%. The ex-dividend date of this dividend was Wednesday, October 23rd. CVS Health’s payout ratio is 28.25%.
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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