Benin Management CORP grew its position in CVS Health Corp (NYSE:CVS) by 6.0% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 16,104 shares of the pharmacy operator’s stock after purchasing an additional 915 shares during the period. Benin Management CORP’s holdings in CVS Health were worth $1,196,000 at the end of the most recent quarter.
Other institutional investors have also recently bought and sold shares of the company. Macquarie Group Ltd. boosted its position in shares of CVS Health by 10.9% during the 2nd quarter. Macquarie Group Ltd. now owns 13,905,440 shares of the pharmacy operator’s stock worth $757,707,000 after purchasing an additional 1,372,275 shares during the period. Prudential PLC boosted its position in shares of CVS Health by 54.8% during the 2nd quarter. Prudential PLC now owns 3,737,874 shares of the pharmacy operator’s stock worth $203,137,000 after purchasing an additional 1,323,366 shares during the period. Parnassus Investments CA boosted its position in shares of CVS Health by 14.1% during the 3rd quarter. Parnassus Investments CA now owns 8,261,294 shares of the pharmacy operator’s stock worth $521,040,000 after purchasing an additional 1,020,904 shares during the period. Artemis Investment Management LLP purchased a new position in shares of CVS Health during the 3rd quarter worth approximately $41,422,000. Finally, Haverford Trust Co. boosted its position in shares of CVS Health by 41.4% during the 3rd quarter. Haverford Trust Co. now owns 2,231,574 shares of the pharmacy operator’s stock worth $140,745,000 after purchasing an additional 652,905 shares during the period. 76.67% of the stock is owned by institutional investors and hedge funds.
In other CVS Health news, COO Jonathan C. Roberts sold 57,563 shares of the firm’s stock in a transaction on Wednesday, January 8th. The shares were sold at an average price of $72.63, for a total transaction of $4,180,800.69. Following the transaction, the chief operating officer now directly owns 102,608 shares of the company’s stock, valued at approximately $7,452,419.04. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Troyen A. Brennan sold 23,604 shares of the firm’s stock in a transaction on Monday, November 4th. The stock was sold at an average price of $68.00, for a total transaction of $1,605,072.00. Following the transaction, the executive vice president now directly owns 107,921 shares in the company, valued at $7,338,628. The disclosure for this sale can be found here. Insiders have sold a total of 427,786 shares of company stock worth $31,726,338 over the last quarter. 0.53% of the stock is owned by company insiders.
CVS Health (NYSE:CVS) last announced its quarterly earnings data on Wednesday, November 6th. The pharmacy operator reported $1.84 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.77 by $0.07. CVS Health had a net margin of 1.83% and a return on equity of 15.45%. The business had revenue of $64.81 billion for the quarter, compared to analyst estimates of $62.99 billion. During the same period last year, the business earned $1.73 EPS. The company’s revenue was up 36.5% on a year-over-year basis. On average, analysts predict that CVS Health Corp will post 7.03 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, February 3rd. Stockholders of record on Thursday, January 23rd will be issued a $0.50 dividend. The ex-dividend date is Wednesday, January 22nd. This represents a $2.00 dividend on an annualized basis and a dividend yield of 2.72%. CVS Health’s payout ratio is 28.25%.
CVS has been the subject of a number of research analyst reports. Morgan Stanley increased their price objective on shares of CVS Health from $74.00 to $77.00 and gave the stock an “overweight” rating in a research report on Thursday, September 26th. Citigroup increased their price objective on shares of CVS Health from $72.00 to $83.00 and gave the stock a “buy” rating in a research report on Thursday, November 7th. They noted that the move was a valuation call. SunTrust Banks increased their target price on shares of CVS Health to $85.00 and gave the stock a “buy” rating in a report on Thursday, November 7th. Cowen set a $76.00 target price on shares of CVS Health and gave the stock a “buy” rating in a report on Monday, October 21st. Finally, Royal Bank of Canada began coverage on shares of CVS Health in a report on Friday, September 27th. They set an “outperform” rating and a $85.00 target price on the stock. One analyst has rated the stock with a sell rating, six have given a hold rating, seventeen have issued a buy rating and one has given a strong buy rating to the company. CVS Health currently has a consensus rating of “Buy” and an average price target of $77.43.
CVS Health Profile
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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