Foundry Partners LLC reduced its position in shares of CVS Health Corp (NYSE:CVS) by 8.7% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 170,620 shares of the pharmacy operator’s stock after selling 16,200 shares during the period. Foundry Partners LLC’s holdings in CVS Health were worth $13,875,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its position in CVS Health by 1.4% in the second quarter. Vanguard Group Inc. now owns 76,557,597 shares of the pharmacy operator’s stock worth $6,159,825,000 after acquiring an additional 1,056,265 shares in the last quarter. FMR LLC grew its position in CVS Health by 22.0% in the second quarter. FMR LLC now owns 30,150,634 shares of the pharmacy operator’s stock worth $2,425,920,000 after acquiring an additional 5,446,930 shares in the last quarter. Northern Trust Corp grew its position in CVS Health by 5.5% in the second quarter. Northern Trust Corp now owns 15,618,081 shares of the pharmacy operator’s stock worth $1,256,631,000 after acquiring an additional 807,639 shares in the last quarter. Nordea Investment Management AB grew its position in CVS Health by 8.4% in the second quarter. Nordea Investment Management AB now owns 14,154,922 shares of the pharmacy operator’s stock worth $1,138,905,000 after acquiring an additional 1,100,373 shares in the last quarter. Finally, Dimensional Fund Advisors LP grew its position in CVS Health by 5.4% in the second quarter. Dimensional Fund Advisors LP now owns 10,426,282 shares of the pharmacy operator’s stock worth $838,895,000 after acquiring an additional 534,314 shares in the last quarter. Hedge funds and other institutional investors own 81.63% of the company’s stock.
Several brokerages recently issued reports on CVS. UBS Group upgraded shares of CVS Health from an “outperform” rating to a “strong-buy” rating in a research report on Thursday. Raymond James Financial upgraded shares of CVS Health from an “outperform” rating to a “strong-buy” rating and set a $90.00 price target for the company in a research report on Thursday. They noted that the move was a valuation call. Vetr lowered shares of CVS Health from a “buy” rating to a “hold” rating and set a $77.11 price target for the company. in a research report on Thursday. Royal Bank of Canada assumed coverage on shares of CVS Health in a research report on Tuesday, September 19th. They set an “outperform” rating and a $95.00 price target for the company. Finally, Jefferies Group upped their price target on shares of CVS Health from $82.00 to $86.00 and gave the company a “hold” rating in a research report on Friday, September 15th. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating, eleven have issued a buy rating and two have issued a strong buy rating to the stock. The company presently has an average rating of “Buy” and an average target price of $86.09.
CVS Health (NYSE:CVS) last issued its quarterly earnings data on Monday, November 6th. The pharmacy operator reported $1.50 EPS for the quarter, beating the consensus estimate of $1.49 by $0.01. The firm had revenue of $46.18 billion during the quarter, compared to the consensus estimate of $46.17 billion. CVS Health had a net margin of 2.77% and a return on equity of 16.96%. The company’s quarterly revenue was up 3.5% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.64 earnings per share. sell-side analysts predict that CVS Health Corp will post 5.9 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, February 2nd. Stockholders of record on Wednesday, January 24th will be paid a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a dividend yield of 2.66%. The ex-dividend date is Tuesday, January 23rd. CVS Health’s dividend payout ratio (DPR) is 41.32%.
In other news, EVP Lisa Bisaccia sold 29,445 shares of the company’s stock in a transaction dated Thursday, December 21st. The shares were sold at an average price of $75.00, for a total transaction of $2,208,375.00. Following the completion of the transaction, the executive vice president now directly owns 15,556 shares of the company’s stock, valued at $1,166,700. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.61% of the company’s stock.
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CVS Health Company 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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