Eqis Capital Management Inc. cut its holdings in shares of CVS Health Co. (NYSE:CVS) by 9.6% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 12,887 shares of the pharmacy operator’s stock after selling 1,371 shares during the period. Eqis Capital Management Inc.’s holdings in CVS Health were worth $753,000 at the end of the most recent reporting period.
Other large investors have also recently made changes to their positions in the company. Rodgers Brothers Inc. increased its holdings in shares of CVS Health by 0.7% in the second quarter. Rodgers Brothers Inc. now owns 23,521 shares of the pharmacy operator’s stock valued at $1,528,000 after buying an additional 154 shares in the last quarter. Insight Wealth Strategies LLC raised its position in shares of CVS Health by 4.7% during the second quarter. Insight Wealth Strategies LLC now owns 3,666 shares of the pharmacy operator’s stock valued at $238,000 after buying an additional 165 shares during the last quarter. Ellis Investment Partners LLC raised its position in shares of CVS Health by 47.0% during the third quarter. Ellis Investment Partners LLC now owns 541 shares of the pharmacy operator’s stock valued at $31,000 after buying an additional 173 shares during the last quarter. Roosevelt Investment Group Inc. raised its position in shares of CVS Health by 1.0% during the second quarter. Roosevelt Investment Group Inc. now owns 18,346 shares of the pharmacy operator’s stock valued at $1,192,000 after buying an additional 175 shares during the last quarter. Finally, Estabrook Capital Management raised its position in CVS Health by 5.0% in the second quarter. Estabrook Capital Management now owns 3,650 shares of the pharmacy operator’s stock worth $237,000 after purchasing an additional 175 shares in the last quarter. 68.47% of the stock is currently owned by hedge funds and other institutional investors.
NYSE:CVS opened at $66.39 on Friday. The company has a debt-to-equity ratio of 0.89, a quick ratio of 0.67 and a current ratio of 0.95. The stock’s fifty day moving average is $61.50 and its 200 day moving average is $62.70. CVS Health Co. has a fifty-two week low of $52.04 and a fifty-two week high of $77.03. The firm has a market capitalization of $86.90 billion, a PE ratio of 10.97, a PEG ratio of 1.68 and a beta of 0.69.
CVS Health (NYSE:CVS) last issued its quarterly earnings data on Wednesday, November 11th. The pharmacy operator reported $1.66 earnings per share for the quarter, beating analysts’ consensus estimates of $1.33 by $0.33. The company had revenue of $67.05 billion for the quarter, compared to the consensus estimate of $66.54 billion. CVS Health had a return on equity of 15.60% and a net margin of 2.99%. The firm’s revenue for the quarter was up 3.5% compared to the same quarter last year. During the same quarter last year, the company earned $1.84 earnings per share. Equities analysts forecast that CVS Health Co. will post 7.44 EPS for the current year.
The business also recently declared a quarterly dividend, which was paid on Monday, November 2nd. Investors of record on Thursday, October 22nd were given a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a yield of 3.01%. The ex-dividend date of this dividend was Wednesday, October 21st. CVS Health’s dividend payout ratio is currently 28.25%.
Several analysts have weighed in on the stock. SVB Leerink upped their price objective on shares of CVS Health from $72.00 to $73.00 and gave the stock a “market perform” rating in a research note on Thursday, August 6th. Credit Suisse Group increased their target price on shares of CVS Health from $75.00 to $90.00 and gave the stock an “outperform” rating in a report on Friday, August 7th. Piper Sandler increased their target price on shares of CVS Health from $72.00 to $76.00 and gave the stock an “overweight” rating in a report on Wednesday, November 11th. Deutsche Bank Aktiengesellschaft dropped their price objective on shares of CVS Health from $104.00 to $101.00 and set a “buy” rating on the stock in a report on Monday, November 9th. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating on shares of CVS Health in a research report on Monday, November 9th. One investment analyst has rated the stock with a sell rating, three have given a hold rating, eleven have issued a buy rating and two have issued a strong buy rating to the company. The stock currently has an average rating of “Buy” and an average price target of $82.43.
In other news, EVP Alan Lotvin sold 7,138 shares of CVS Health stock in a transaction that occurred on Friday, November 13th. The stock was sold at an average price of $70.00, for a total value of $499,660.00. Following the sale, the executive vice president now directly owns 8,023 shares of the company’s stock, valued at $561,610. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.46% of the stock is currently owned by company insiders.
CVS Health Profile
CVS Health Corporation provides health services and plans in the United States. The company's Pharmacy Services segment offers pharmacy benefit management solutions, including plan design and administration, formulary management, retail pharmacy network management, mail order pharmacy, specialty pharmacy and infusion, clinical, and disease and medical spend management services.
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