Papp L Roy & Associates increased its stake in shares of CVS Health Corporation (NYSE:CVS) by 95.5% during the second quarter, according to its most recent 13F filing with the SEC. The fund owned 15,624 shares of the pharmacy operator’s stock after buying an additional 7,633 shares during the period. Papp L Roy & Associates’ holdings in CVS Health Corporation were worth $1,496,000 as of its most recent filing with the SEC.
A number of other institutional investors also recently modified their holdings of CVS. Bank of Montreal Can acquired a new position in CVS Health Corporation during the second quarter valued at about $438,948,000. Nordea Investment Management AB raised its stake in shares of 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 valued at $1,114,838,000 after buying an additional 4,423,216 shares during the period. Credit Agricole S A raised its stake in shares of 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 valued at $258,521,000 after buying an additional 1,320,987 shares during the period. NN Investment Partners Holdings N.V. purchased a new stake in shares of CVS Health Corporation during the first quarter valued at approximately $125,795,000. Finally, State Street Corp raised its stake in shares of 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 valued at $4,621,391,000 after buying an additional 1,023,799 shares during the period. Hedge funds and other institutional investors own 80.95% of the company’s stock.
Shares of CVS Health Corporation (NYSE:CVS) traded up 0.91% during mid-day trading on Friday, reaching $88.80. The company had a trading volume of 6,705,822 shares. The stock has a market capitalization of $94.68 billion, a P/E ratio of 20.43 and a beta of 0.83. CVS Health Corporation has a 52-week low of $85.41 and a 52-week high of $106.67. The company’s 50-day moving average is $90.11 and its 200 day moving average is $96.45.
CVS Health Corporation (NYSE:CVS) last posted its quarterly earnings results on Tuesday, August 2nd. The pharmacy operator reported $1.32 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.30 by $0.02. The firm had revenue of $43.70 billion for the quarter, compared to analyst estimates of $44.28 billion. CVS Health Corporation had a net margin of 2.88% and a return on equity of 15.86%. The firm’s quarterly revenue was up 17.6% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.19 earnings per share. Analysts anticipate that CVS Health Corporation will post $5.86 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, November 3rd. Shareholders 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 annualized dividend and a yield of 1.91%. CVS Health Corporation’s dividend payout ratio (DPR) is 39.08%.
Several equities research analysts have recently commented on CVS shares. Morgan Stanley lowered CVS Health Corporation from an “overweight” rating to an “equal weight” rating and decreased their price target for the stock from $111.00 to $104.00 in a research note on Monday, June 20th. Deutsche Bank AG boosted their price target on CVS Health Corporation from $99.00 to $105.00 and gave the stock a “hold” rating in a research note on Wednesday, June 22nd. Mizuho reissued a “buy” rating and set a $108.00 price target (down previously from $117.00) on shares of CVS Health Corporation in a research note on Thursday, June 23rd. Jefferies Group reissued a “buy” rating on shares of CVS Health Corporation in a research note on Monday, July 4th. Finally, Vetr lowered CVS Health Corporation from a “strong-buy” rating to a “hold” rating and set a $95.44 price target on the stock. in a research note on Monday, July 25th. Five research analysts have rated the stock with a hold rating, eighteen have given a buy rating and one has assigned a strong buy rating to the stock. The stock presently has an average rating of “Buy” and an average price target of $112.40.
About CVS Health Corporation
CVS Health Corporation, together with its subsidiaries (CVS Health), is a pharmacy company. The Company operates through three business segments: Pharmacy Services, Retail/LTC and Corporate. The Company offers a range of products and services, such as advising patients on their medications at its CVS Pharmacy locations, introducing programs to help control costs for its clients at CVS Caremark, how care is delivered to its patients with conditions through CVS Specialty, pharmacy care for the senior community through Omnicare.
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