Sheets Smith Wealth Management raised its stake in CVS Health Corporation (NYSE:CVS) by 0.6% during the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 9,171 shares of the pharmacy operator’s stock after buying an additional 55 shares during the period. Sheets Smith Wealth Management’s holdings in CVS Health Corporation were worth $738,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also modified their holdings of the company. Mercer Capital Advisers Inc. acquired a new position in shares of CVS Health Corporation during the first quarter valued at about $118,000. Gemmer Asset Management LLC boosted its position in shares of CVS Health Corporation by 15.3% in the second quarter. Gemmer Asset Management LLC now owns 1,509 shares of the pharmacy operator’s stock valued at $121,000 after buying an additional 200 shares during the period. Orrstown Financial Services Inc. boosted its position in shares of CVS Health Corporation by 2,000.0% in the first quarter. Orrstown Financial Services Inc. now owns 2,100 shares of the pharmacy operator’s stock valued at $165,000 after buying an additional 2,000 shares during the period. SRS Capital Advisors Inc. boosted its position in shares of CVS Health Corporation by 48.2% in the first quarter. SRS Capital Advisors Inc. now owns 2,256 shares of the pharmacy operator’s stock valued at $177,000 after buying an additional 734 shares during the period. Finally, Edmp Inc. acquired a new position in shares of CVS Health Corporation during the first quarter valued at about $202,000. 81.92% of the stock is owned by hedge funds and other institutional investors.
Shares of CVS Health Corporation (NYSE CVS) traded up 0.98% during mid-day trading on Thursday, hitting $80.21. 2,176,267 shares of the stock traded hands. The firm’s 50 day moving average price is $78.74 and its 200 day moving average price is $78.97. CVS Health Corporation has a 12-month low of $69.30 and a 12-month high of $98.44. The firm has a market cap of $81.41 billion, a price-to-earnings ratio of 15.98 and a beta of 0.91. CVS Health Corporation also saw unusually large options trading activity on Monday. Stock traders purchased 12,222 put options on the stock. This is an increase of 254% compared to the typical daily volume of 3,454 put options.
CVS Health Corporation (NYSE:CVS) last released its quarterly earnings results on Tuesday, August 8th. The pharmacy operator reported $1.33 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.31 by $0.02. CVS Health Corporation had a net margin of 2.93% and a return on equity of 17.47%. The company had revenue of $45.69 billion for the quarter, compared to analysts’ expectations of $45.36 billion. During the same period last year, the company earned $1.32 EPS. The firm’s revenue for the quarter was up 4.5% compared to the same quarter last year. On average, equities research analysts predict that CVS Health Corporation will post $5.88 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Thursday, August 3rd. Shareholders of record on Monday, July 24th were paid a dividend of $0.50 per share. The ex-dividend date was Thursday, July 20th. This represents a $2.00 annualized dividend and a dividend yield of 2.52%. CVS Health Corporation’s dividend payout ratio is currently 39.92%.
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Several brokerages recently issued reports on CVS. Vetr cut shares of CVS Health Corporation from a “strong-buy” rating to a “buy” rating and set a $88.97 target price for the company. in a report on Monday, June 12th. Guggenheim reissued a “buy” rating on shares of CVS Health Corporation in a report on Monday, July 3rd. Needham & Company LLC began coverage on shares of CVS Health Corporation in a report on Tuesday, June 27th. They set a “hold” rating for the company. Jefferies Group LLC reissued a “hold” rating and set a $82.00 target price on shares of CVS Health Corporation in a report on Friday, July 14th. Finally, BidaskClub cut shares of CVS Health Corporation from a “hold” rating to a “sell” rating in a report on Monday, July 24th. Eight research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. The company has a consensus rating of “Buy” and an average target price of $91.27.
In other CVS Health Corporation news, EVP Helena Foulkes sold 20,332 shares of the firm’s stock in a transaction dated Monday, June 19th. The shares were sold at an average price of $76.98, for a total transaction of $1,565,157.36. Following the sale, the executive vice president now directly owns 59,300 shares of the company’s stock, valued at approximately $4,564,914. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO David M. Denton sold 230,510 shares of the firm’s stock in a transaction dated Monday, June 12th. The stock was sold at an average price of $80.00, for a total transaction of $18,440,800.00. Following the sale, the chief financial officer now directly owns 176,983 shares in the company, valued at $14,158,640. The disclosure for this sale can be found here. Insiders have sold a total of 271,175 shares of company stock worth $21,632,597 over the last ninety days. 0.61% of the stock is owned by corporate insiders.
About CVS Health Corporation
CVS Health Corporation, together with its subsidiaries, is an integrated pharmacy healthcare company. The Company provides pharmacy care for the senior community through Omnicare, Inc (Omnicare) and Omnicare’s long-term care (LTC) operations, which include distribution of pharmaceuticals, related pharmacy consulting and other ancillary services to chronic care facilities and other care settings.
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