Mitsubishi UFJ Asset Management UK Ltd. raised its position in CVS Health Corp (NYSE:CVS) by 25.0% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 25,000 shares of the pharmacy operator’s stock after acquiring an additional 5,000 shares during the period. Mitsubishi UFJ Asset Management UK Ltd.’s holdings in CVS Health were worth $1,857,000 at the end of the most recent reporting period.
Several other hedge funds have also recently added to or reduced their stakes in CVS. 1 North Wealth Services LLC acquired a new stake in shares of CVS Health in the 3rd quarter worth $29,000. Gradient Investments LLC lifted its stake in shares of CVS Health by 78.3% in the 3rd quarter. Gradient Investments LLC now owns 617 shares of the pharmacy operator’s stock worth $39,000 after acquiring an additional 271 shares during the period. Cordasco Financial Network acquired a new stake in shares of CVS Health in the 3rd quarter worth $44,000. Allred Capital Management LLC acquired a new stake in shares of CVS Health in the 4th quarter worth $55,000. Finally, Stonebridge Capital Advisors LLC acquired a new stake in shares of CVS Health in the 2nd quarter worth $63,000. Institutional investors own 76.64% of the company’s stock.
CVS has been the subject of several recent analyst reports. Citigroup raised their target price on shares of 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. Morgan Stanley raised their price objective on shares of CVS Health from $74.00 to $77.00 and gave the company an “overweight” rating in a research note on Thursday, September 26th. Raymond James reiterated a “strong-buy” rating and issued a $90.00 price objective (up previously from $80.00) on shares of CVS Health in a research note on Wednesday, December 4th. Mizuho raised their price objective on shares of CVS Health from $71.00 to $82.00 and gave the company a “buy” rating in a research note on Friday, November 8th. Finally, ValuEngine cut shares of CVS Health from a “hold” rating to a “sell” rating in a research note on Wednesday, December 18th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating, seventeen have issued a buy rating and one has issued a strong buy rating to the stock. The company currently has a consensus rating of “Buy” and an average price target of $77.43.
In other news, EVP Karen S. Lynch sold 80,143 shares of CVS Health stock in a transaction dated Monday, November 18th. The shares were sold at an average price of $75.00, for a total transaction of $6,010,725.00. Following the completion of the sale, the executive vice president now directly owns 41,831 shares in the company, valued at $3,137,325. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, COO Jonathan C. Roberts sold 57,563 shares of CVS Health stock in a transaction dated Wednesday, January 8th. The stock was 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 owns 102,608 shares of the company’s stock, valued at $7,452,419.04. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 161,310 shares of company stock valued at $11,796,598. Insiders own 0.53% of the company’s stock.
NYSE:CVS remained flat at $$76.05 during mid-day trading on Friday. 1,949,236 shares of the company’s stock traded hands, compared to its average volume of 6,126,565. 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 business has a 50-day simple moving average of $74.15 and a 200 day simple moving average of $65.43. CVS Health Corp has a 52-week low of $51.72 and a 52-week high of $77.03. The stock has a market capitalization of $96.05 billion, a P/E ratio of 10.74, a PEG ratio of 1.57 and a beta of 0.89.
CVS Health (NYSE:CVS) last issued its quarterly earnings results on Wednesday, November 6th. The pharmacy operator reported $1.84 EPS for the quarter, topping analysts’ consensus estimates of $1.77 by $0.07. The business had revenue of $64.81 billion during the quarter, compared to the consensus estimate of $62.99 billion. CVS Health had a net margin of 1.83% and a return on equity of 15.45%. The company’s quarterly revenue was up 36.5% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.73 earnings per share. Research analysts anticipate that CVS Health Corp will post 7.03 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Monday, February 3rd. Stockholders of record on Thursday, January 23rd will be issued a dividend of $0.50 per share. The ex-dividend date of this dividend is Wednesday, January 22nd. This represents a $2.00 dividend on an annualized basis and a dividend yield of 2.63%. CVS Health’s dividend payout ratio (DPR) is presently 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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