Westport Asset Management Inc. Continues to Hold Holdings in CVS Health Corporation (CVS)

Westport Asset Management Inc. maintained its stake in CVS Health Corporation (NYSE:CVS) during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 27,792 shares of the pharmacy operator’s stock at the end of the 2nd quarter. CVS Health Corporation accounts for 1.9% of Westport Asset Management Inc.’s holdings, making the stock its 18th biggest position. Westport Asset Management Inc.’s holdings in CVS Health Corporation were worth $2,236,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. Boston Partners raised its holdings in shares of CVS Health Corporation by 69.1% in the second quarter. Boston Partners now owns 6,459,237 shares of the pharmacy operator’s stock worth $519,711,000 after buying an additional 2,638,888 shares during the period. LSV Asset Management raised its holdings in shares of CVS Health Corporation by 44.2% in the first quarter. LSV Asset Management now owns 4,579,916 shares of the pharmacy operator’s stock worth $359,523,000 after buying an additional 1,404,384 shares during the period. Canada Pension Plan Investment Board raised its holdings in shares of CVS Health Corporation by 89.8% in the second quarter. Canada Pension Plan Investment Board now owns 1,851,099 shares of the pharmacy operator’s stock worth $148,939,000 after buying an additional 876,027 shares during the period. NN Investment Partners Holdings N.V. raised its holdings in shares of CVS Health Corporation by 141.2% in the second quarter. NN Investment Partners Holdings N.V. now owns 1,427,210 shares of the pharmacy operator’s stock worth $114,832,000 after buying an additional 835,476 shares during the period. Finally, Swiss National Bank raised its holdings in shares of CVS Health Corporation by 26.9% in the first quarter. Swiss National Bank now owns 3,826,410 shares of the pharmacy operator’s stock worth $300,373,000 after buying an additional 811,100 shares during the period. Institutional investors and hedge funds own 81.59% of the company’s stock.

CVS Health Corporation (CVS) opened at 76.01 on Wednesday. The company has a 50 day moving average price of $78.73 and a 200 day moving average price of $78.71. The stock has a market cap of $77.27 billion, a price-to-earnings ratio of 15.14 and a beta of 0.92. CVS Health Corporation has a 52 week low of $69.30 and a 52 week high of $87.93.

CVS Health Corporation (NYSE:CVS) last posted its quarterly earnings results on Tuesday, August 8th. The pharmacy operator reported $1.33 earnings per share (EPS) for the quarter, topping the 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 firm had revenue of $45.69 billion during the quarter, compared to analysts’ expectations of $45.36 billion. During the same period in the prior year, the company posted $1.32 earnings per share. The firm’s revenue for the quarter was up 4.5% on a year-over-year basis. Analysts expect that CVS Health Corporation will post $5.88 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Friday, November 3rd. Shareholders of record on Tuesday, October 24th will be issued a $0.50 dividend. The ex-dividend date of this dividend is Monday, October 23rd. This represents a $2.00 dividend on an annualized basis and a yield of 2.63%. CVS Health Corporation’s dividend payout ratio (DPR) is presently 39.92%.

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CVS has been the topic of several recent analyst reports. Needham & Company LLC reiterated a “hold” rating on shares of CVS Health Corporation in a report on Sunday, September 10th. Oppenheimer Holdings, Inc. reissued a “buy” rating and issued a $95.00 price objective on shares of CVS Health Corporation in a research note on Monday, October 9th. BidaskClub cut CVS Health Corporation from a “hold” rating to a “sell” rating in a research note on Friday, August 25th. SunTrust Banks, Inc. set a $85.00 price objective on CVS Health Corporation and gave the stock a “buy” rating in a research note on Thursday, October 12th. Finally, Guggenheim reissued a “buy” rating on shares of CVS Health Corporation in a research note on Monday, July 3rd. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and sixteen have issued a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus target price of $88.63.

In other CVS Health Corporation news, EVP Thomas M. Moriarty sold 20,547 shares of the stock in a transaction dated Monday, October 2nd. The shares were sold at an average price of $81.17, for a total value of $1,667,799.99. Following the completion of the transaction, the executive vice president now directly owns 43,178 shares of the company’s stock, valued at $3,504,758.26. The sale was disclosed in a filing with the SEC, which is available at this link. Also, EVP Thomas M. Moriarty sold 90,267 shares of the stock in a transaction dated Monday, September 11th. The shares were sold at an average price of $79.61, for a total transaction of $7,186,155.87. Following the completion of the transaction, the executive vice president now directly owns 70,102 shares of the company’s stock, valued at $5,580,820.22. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 716,625 shares of company stock valued at $58,318,431. 0.61% of the stock is currently owned by corporate insiders.

CVS Health Corporation Profile

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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Institutional Ownership by Quarter for CVS Health Corporation (NYSE:CVS)

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