Investment House LLC raised its position in CVS Health Corporation (NYSE:CVS) by 0.6% during the second quarter, Holdings Channel reports. The fund owned 61,515 shares of the pharmacy operator’s stock after buying an additional 360 shares during the period. Investment House LLC’s holdings in CVS Health Corporation were worth $5,889,000 at the end of the most recent reporting period.
Other hedge funds have also added to or reduced their stakes in the company. Bank of Montreal Can acquired a new stake in CVS Health Corporation during the second quarter worth approximately $438,948,000. Nordea Investment Management AB increased its stake in CVS Health Corporation by 61.3% in the second quarter. Nordea Investment Management AB now owns 11,644,431 shares of the pharmacy operator’s stock worth $1,114,838,000 after buying an additional 4,423,216 shares during the last quarter. Credit Agricole S A increased its stake in CVS Health Corporation by 112.8% in the first quarter. Credit Agricole S A now owns 2,492,231 shares of the pharmacy operator’s stock worth $258,521,000 after buying an additional 1,320,987 shares during the last quarter. NN Investment Partners Holdings N.V. acquired a new stake in CVS Health Corporation during the first quarter worth approximately $125,795,000. Finally, State Street Corp increased its stake in CVS Health Corporation by 2.4% in the first quarter. State Street Corp now owns 44,552,112 shares of the pharmacy operator’s stock worth $4,621,391,000 after buying an additional 1,023,799 shares during the last quarter. Institutional investors and hedge funds own 80.96% of the company’s stock.
Shares of CVS Health Corporation (NYSE:CVS) traded down 0.63% during mid-day trading on Friday, hitting $88.99. 9,151,656 shares of the stock were exchanged. The company has a market capitalization of $94.88 billion, a PE ratio of 20.47 and a beta of 0.84. CVS Health Corporation has a 12-month low of $86.50 and a 12-month high of $106.67. The firm has a 50-day moving average price of $92.98 and a 200 day moving average price of $97.44.
CVS Health Corporation (NYSE:CVS) last announced its quarterly earnings results on Tuesday, August 2nd. The pharmacy operator reported $1.32 earnings per share for the quarter, beating analysts’ consensus estimates of $1.30 by $0.02. The business had revenue of $43.70 billion for the quarter, compared to the consensus estimate of $44.28 billion. CVS Health Corporation had a net margin of 2.88% and a return on equity of 15.86%. CVS Health Corporation’s revenue for the quarter was up 17.6% on a year-over-year basis. During the same period last year, the company posted $1.19 EPS. On average, equities research analysts expect that CVS Health Corporation will post $5.86 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Thursday, November 3rd. Investors of record on Monday, October 24th will be given a $0.425 dividend. The ex-dividend date is Thursday, October 20th. This represents a $1.70 dividend on an annualized basis and a dividend yield of 1.91%. CVS Health Corporation’s dividend payout ratio is 39.08%.
CVS has been the topic of a number of research reports. Morgan Stanley downgraded shares of CVS Health Corporation from an “overweight” rating to an “equal weight” rating and dropped their target price for the stock from $111.00 to $104.00 in a report on Monday, June 20th. Credit Suisse Group AG reiterated a “buy” rating and issued a $115.00 target price on shares of CVS Health Corporation in a report on Sunday, June 5th. Jefferies Group reiterated a “buy” rating on shares of CVS Health Corporation in a report on Monday, July 4th. Deutsche Bank AG boosted their target price on shares of CVS Health Corporation from $99.00 to $105.00 and gave the stock a “hold” rating in a report on Wednesday, June 22nd. Finally, Mizuho reiterated a “buy” rating and issued a $108.00 target price (down from $117.00) on shares of CVS Health Corporation in a report on Thursday, June 23rd. Six equities research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has given a strong buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average target price of $112.81.
About CVS Health Corporation
CVS Health Corporation, together with its subsidiaries, is a pharmacy company. The Company operates through three business segments: Pharmacy Services, Retail Pharmacy and Corporate. The Pharmacy Services segment provides a range of pharmacy benefit management (PBM) services and operates under the CVS/caremark Pharmacy Services, Novologix and Navarro Health Services names.
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