10 15 Associates Inc. boosted its stake in shares of CVS Health Corp (NYSE:CVS) by 1.1% in the 4th quarter, HoldingsChannel.com reports. The firm owned 38,504 shares of the pharmacy operator’s stock after buying an additional 424 shares during the quarter. 10 15 Associates Inc.’s holdings in CVS Health were worth $2,860,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors also recently modified their holdings of the company. Signet Financial Management LLC boosted its position in CVS Health by 8.4% during the third quarter. Signet Financial Management LLC now owns 5,066 shares of the pharmacy operator’s stock valued at $363,000 after purchasing an additional 391 shares during the last quarter. Point72 Asset Management L.P. acquired a new position in CVS Health during the third quarter valued at approximately $22,738,000. Regal Investment Advisors LLC boosted its position in CVS Health by 349.5% during the third quarter. Regal Investment Advisors LLC now owns 43,073 shares of the pharmacy operator’s stock valued at $2,717,000 after purchasing an additional 33,491 shares during the last quarter. River & Mercantile Asset Management LLP boosted its position in CVS Health by 17.5% during the second quarter. River & Mercantile Asset Management LLP now owns 154,572 shares of the pharmacy operator’s stock valued at $8,425,000 after purchasing an additional 23,061 shares during the last quarter. Finally, Artemis Investment Management LLP acquired a new position in CVS Health during the third quarter valued at approximately $41,422,000. 76.67% of the stock is owned by hedge funds and other institutional investors.
CVS has been the subject of several recent research reports. UBS Group reissued a “buy” rating and set a $78.00 price target on shares of CVS Health in a research report on Thursday, November 7th. Raymond James reissued a “strong-buy” rating and set a $90.00 price target (up from $80.00) on shares of CVS Health in a research report on Wednesday, December 4th. Mizuho increased their price target on CVS Health from $71.00 to $82.00 and gave the company a “buy” rating in a research report on Friday, November 8th. SunTrust Banks increased their price target on CVS Health to $85.00 and gave the company a “buy” rating in a research report on Thursday, November 7th. Finally, Royal Bank of Canada began coverage on CVS Health in a research report on Friday, September 27th. They issued an “outperform” rating and a $85.00 price objective for the company. One research analyst has rated the stock with a sell rating, six have issued a hold rating, seventeen have issued a buy rating and one has assigned a strong buy rating to the company. CVS Health currently has a consensus rating of “Buy” and an average target price of $77.43.
CVS Health (NYSE:CVS) last released its quarterly earnings data on Wednesday, November 6th. The pharmacy operator reported $1.84 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.77 by $0.07. CVS Health had a return on equity of 15.45% and a net margin of 1.83%. The company had revenue of $64.81 billion during the quarter, compared to analysts’ expectations of $62.99 billion. During the same period last year, the firm posted $1.73 earnings per share. The business’s revenue was up 36.5% on a year-over-year basis. As a group, analysts expect that CVS Health Corp will post 7.03 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Monday, February 3rd. Investors of record on Thursday, January 23rd will be issued a dividend of $0.50 per share. The ex-dividend date of this dividend is Wednesday, January 22nd. This represents a $2.00 annualized dividend and a yield of 2.80%. CVS Health’s payout ratio is currently 28.25%.
In related news, CEO Larry J. Merlo sold 266,476 shares of CVS Health stock in a transaction that occurred on Wednesday, January 15th. The stock was sold at an average price of $74.79, for a total transaction of $19,929,740.04. Following the completion of the sale, the chief executive officer now directly owns 703,497 shares of the company’s stock, valued at approximately $52,614,540.63. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, EVP Troyen A. Brennan sold 23,604 shares of CVS Health stock in a transaction that occurred on Monday, November 4th. The stock was sold at an average price of $68.00, for a total value of $1,605,072.00. Following the sale, the executive vice president now directly owns 107,921 shares of the company’s stock, valued at $7,338,628. The disclosure for this sale can be found here. Over the last three months, insiders have sold 427,786 shares of company stock valued at $31,726,338. 0.53% of the stock is currently owned by insiders.
CVS Health Company 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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