Villere ST Denis J & Co. LLC Makes New $12.35 Million Investment in CVS Health Corp (NYSE:CVS)

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Villere ST Denis J & Co. LLC bought a new position in CVS Health Corp (NYSE:CVS) during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 195,790 shares of the pharmacy operator’s stock, valued at approximately $12,348,000. CVS Health accounts for about 0.8% of Villere ST Denis J & Co. LLC’s investment portfolio, making the stock its 27th largest holding.

A number of other hedge funds have also added to or reduced their stakes in the business. Nuveen Asset Management LLC increased its stake in shares of CVS Health by 16,194.7% during the second quarter. Nuveen Asset Management LLC now owns 12,112,044 shares of the pharmacy operator’s stock valued at $659,986,000 after buying an additional 12,037,713 shares during the period. Morgan Stanley increased its stake in shares of CVS Health by 12.8% during the second quarter. Morgan Stanley now owns 13,765,635 shares of the pharmacy operator’s stock valued at $750,088,000 after buying an additional 1,560,142 shares during the period. Macquarie Group Ltd. increased its stake in shares of CVS Health by 10.9% during the second quarter. Macquarie Group Ltd. now owns 13,905,440 shares of the pharmacy operator’s stock valued at $757,707,000 after buying an additional 1,372,275 shares during the period. Prudential PLC increased its stake in shares of CVS Health by 54.8% during the second quarter. Prudential PLC now owns 3,737,874 shares of the pharmacy operator’s stock valued at $203,137,000 after buying an additional 1,323,366 shares during the period. Finally, Vanguard Group Inc. increased its stake in shares of CVS Health by 1.2% during the second quarter. Vanguard Group Inc. now owns 102,367,899 shares of the pharmacy operator’s stock valued at $5,578,027,000 after buying an additional 1,167,143 shares during the period. Institutional investors and hedge funds own 76.12% of the company’s stock.

In related news, EVP Joshua Matthew Flum sold 17,703 shares of the firm’s stock in a transaction dated Monday, September 30th. The stock was sold at an average price of $63.00, for a total transaction of $1,115,289.00. Following the sale, the executive vice president now owns 36,163 shares of the company’s stock, valued at $2,278,269. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Eva C. Boratto sold 8,130 shares of the firm’s stock in a transaction dated Thursday, September 12th. The shares were sold at an average price of $65.00, for a total value of $528,450.00. Following the sale, the chief financial officer now directly owns 55,273 shares in the company, valued at approximately $3,592,745. The disclosure for this sale can be found here. 0.53% of the stock is owned by company insiders.

Several equities analysts have recently commented on the company. TheStreet upgraded CVS Health from a “c+” rating to a “b-” rating in a research note on Monday, September 9th. Citigroup raised their price target on CVS Health from $68.00 to $72.00 and gave the company a “buy” rating in a research note on Thursday, August 8th. Deutsche Bank assumed coverage on CVS Health in a research note on Thursday, September 12th. They set a “buy” rating and a $91.00 price target on the stock. Morgan Stanley raised their price target on CVS Health from $74.00 to $77.00 and gave the company an “overweight” rating in a research note on Thursday, September 26th. Finally, Cowen restated an “outperform” rating and set a $76.00 price target (up previously from $69.00) on shares of CVS Health in a research note on Tuesday, August 27th. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating, eighteen have given a buy rating and one has given a strong buy rating to the company. The stock has a consensus rating of “Buy” and an average target price of $75.39.

CVS stock traded up $0.77 during trading on Tuesday, reaching $66.47. 340,822 shares of the company traded hands, compared to its average volume of 6,243,850. CVS Health Corp has a 12 month low of $51.72 and a 12 month high of $82.15. The business has a 50 day simple moving average of $63.06 and a 200 day simple moving average of $57.29. The company has a market capitalization of $86.04 billion, a price-to-earnings ratio of 9.40, a price-to-earnings-growth ratio of 1.44 and a beta of 0.86. The company has a debt-to-equity ratio of 1.39, a quick ratio of 0.64 and a current ratio of 0.95.

CVS Health (NYSE:CVS) last issued its quarterly earnings data on Wednesday, August 7th. The pharmacy operator reported $1.89 earnings per share for the quarter, beating analysts’ consensus estimates of $1.70 by $0.19. CVS Health had a return on equity of 16.15% and a net margin of 1.91%. The company had revenue of $63.43 billion for the quarter, compared to the consensus estimate of $62.66 billion. During the same quarter last year, the company earned $1.69 earnings per share. The firm’s revenue for the quarter was up 35.2% compared to the same quarter last year. As a group, research analysts forecast that CVS Health Corp will post 6.97 EPS for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Monday, November 4th. Investors of record on Thursday, October 24th will be given a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a yield of 3.01%. The ex-dividend date of this dividend is Wednesday, October 23rd. CVS Health’s payout ratio is currently 28.25%.

About CVS Health

CVS Health Corporation provides health services and plans in the United States. Its Pharmacy Services segment offers pharmacy benefit management solutions, such as plan design and administration, formulary management, retail pharmacy network management, mail order pharmacy, specialty pharmacy and infusion, Medicare Part D, clinical, disease management, and medical spend management services.

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

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