USS Investment Management Ltd bought a new position in shares of CVS Health Corp (NYSE:CVS) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 45,827 shares of the pharmacy operator’s stock, valued at approximately $3,003,000.
A number of other institutional investors and hedge funds have also bought and sold shares of CVS. Cornerstone Advisors Inc. boosted its holdings in CVS Health by 71.6% in the 3rd quarter. Cornerstone Advisors Inc. now owns 508 shares of the pharmacy operator’s stock worth $40,000 after acquiring an additional 212 shares during the period. Canton Hathaway LLC purchased a new position in CVS Health in the 3rd quarter worth approximately $126,000. MCF Advisors LLC boosted its holdings in CVS Health by 284.1% in the 3rd quarter. MCF Advisors LLC now owns 1,713 shares of the pharmacy operator’s stock worth $135,000 after acquiring an additional 1,267 shares during the period. Capital Guardian Trust Co. purchased a new position in CVS Health in the 3rd quarter worth approximately $142,000. Finally, Patten Group Inc. boosted its holdings in CVS Health by 163.4% in the 3rd quarter. Patten Group Inc. now owns 1,844 shares of the pharmacy operator’s stock worth $145,000 after acquiring an additional 1,144 shares during the period. 84.46% of the stock is owned by hedge funds and other institutional investors.
A number of research firms have weighed in on CVS. Leerink Swann upped their price target on CVS Health from $85.00 to $95.00 and gave the stock a “positive” rating in a report on Thursday, November 8th. Morgan Stanley set a $100.00 target price on CVS Health and gave the company a “buy” rating in a research note on Wednesday, November 7th. Wolfe Research started coverage on CVS Health in a research note on Thursday, October 25th. They set a “peer perform” rating for the company. Goldman Sachs Group reiterated a “neutral” rating and set a $87.00 target price on shares of CVS Health in a research note on Thursday, November 29th. Finally, Royal Bank of Canada set a $99.00 target price on CVS Health and gave the company a “buy” rating in a research note on Tuesday, October 23rd. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and fourteen have given a buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $91.98.
CVS Health (NYSE:CVS) last issued its earnings results on Tuesday, November 6th. The pharmacy operator reported $1.73 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.71 by $0.02. The firm had revenue of $47.27 billion for the quarter, compared to analyst estimates of $47.22 billion. CVS Health had a return on equity of 18.69% and a net margin of 1.65%. The firm’s revenue for the quarter was up 2.4% on a year-over-year basis. During the same period last year, the company earned $1.50 earnings per share. Sell-side analysts anticipate that CVS Health Corp will post 7.04 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Monday, February 4th. Stockholders of record on Friday, January 25th will be issued a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a dividend yield of 3.03%. The ex-dividend date is Thursday, January 24th. CVS Health’s dividend payout ratio (DPR) is 33.90%.
In other news, EVP Troyen A. Brennan sold 14,229 shares of the firm’s stock in a transaction on Wednesday, November 14th. The stock was sold at an average price of $82.00, for a total transaction of $1,166,778.00. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CFO David M. Denton sold 25,159 shares of the firm’s stock in a transaction on Thursday, November 29th. The shares were sold at an average price of $80.13, for a total value of $2,015,990.67. Following the transaction, the chief financial officer now directly owns 403 shares in the company, valued at $32,292.39. The disclosure for this sale can be found here. 0.53% of the stock is currently owned by company insiders.
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About CVS Health
CVS Health Corporation, together with its subsidiaries, provides integrated pharmacy health care services. It operates through Pharmacy Services and Retail/LTC segments. The Pharmacy Services segment offers pharmacy benefit management solutions, such as plan design and administration, formulary management, Medicare Part D services, mail order, specialty pharmacy and infusion services, retail pharmacy network management services, prescription management systems, clinical services, disease management programs, and medical pharmacy management services.
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