Bradley Foster & Sargent Inc. CT Raises Holdings in CVS Health Corp (CVS)

Bradley Foster & Sargent Inc. CT raised its position in shares of CVS Health Corp (NYSE:CVS) by 17.9% in the third quarter, HoldingsChannel reports. The firm owned 29,413 shares of the pharmacy operator’s stock after buying an additional 4,462 shares during the period. Bradley Foster & Sargent Inc. CT owned about 28.93% of CVS Health worth $2,392,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of CVS. FMR LLC boosted its stake in CVS Health by 22.0% during the 2nd quarter. FMR LLC now owns 30,150,634 shares of the pharmacy operator’s stock valued at $2,425,920,000 after purchasing an additional 5,446,930 shares in the last quarter. Boston Partners boosted its stake in CVS Health by 69.1% during the 2nd quarter. Boston Partners now owns 6,459,237 shares of the pharmacy operator’s stock valued at $519,711,000 after purchasing an additional 2,638,888 shares in the last quarter. Parametric Portfolio Associates LLC boosted its stake in CVS Health by 71.5% during the 2nd quarter. Parametric Portfolio Associates LLC now owns 3,949,854 shares of the pharmacy operator’s stock valued at $317,805,000 after purchasing an additional 1,647,168 shares in the last quarter. Prudential Financial Inc. boosted its stake in CVS Health by 61.8% during the 2nd quarter. Prudential Financial Inc. now owns 2,946,531 shares of the pharmacy operator’s stock valued at $237,078,000 after purchasing an additional 1,125,400 shares in the last quarter. Finally, Nordea Investment Management AB boosted its stake in CVS Health by 8.4% during the 2nd quarter. Nordea Investment Management AB now owns 14,154,922 shares of the pharmacy operator’s stock valued at $1,138,905,000 after purchasing an additional 1,100,373 shares in the last quarter. 81.62% of the stock is owned by hedge funds and other institutional investors.

A number of brokerages have recently commented on CVS. ValuEngine downgraded CVS Health from a “buy” rating to a “hold” rating in a research report on Sunday, December 31st. Vetr downgraded CVS Health from a “buy” rating to a “hold” rating and set a $77.11 price objective for the company. in a research report on Thursday, January 4th. SunTrust Banks increased their price objective on CVS Health to $90.00 and gave the company a “buy” rating in a research report on Friday, January 5th. Morgan Stanley upgraded CVS Health from an “equal weight” rating to an “overweight” rating and set a $88.00 price objective for the company in a research report on Friday, January 5th. Finally, Leerink Swann increased their price objective on CVS Health from $82.00 to $90.00 and gave the company an “outperform” rating in a research report on Monday, January 8th. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating, twelve have given a buy rating and two have given a strong buy rating to the company. CVS Health currently has an average rating of “Buy” and a consensus target price of $86.66.

In other news, EVP Lisa Bisaccia sold 29,445 shares of the stock in a transaction on Thursday, December 21st. The stock was sold at an average price of $75.00, for a total value of $2,208,375.00. Following the completion of the sale, the executive vice president now owns 15,556 shares in the company, valued at $1,166,700. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 0.61% of the stock is owned by corporate insiders.

Shares of CVS Health Corp (NYSE:CVS) opened at $78.78 on Friday. The stock has a market capitalization of $79,800.00, a price-to-earnings ratio of 16.28, a PEG ratio of 1.38 and a beta of 0.90. CVS Health Corp has a 1-year low of $66.45 and a 1-year high of $84.72. The company has a quick ratio of 0.55, a current ratio of 1.05 and a debt-to-equity ratio of 0.67.

CVS Health (NYSE:CVS) last released its earnings results on Monday, November 6th. The pharmacy operator reported $1.50 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.49 by $0.01. The company had revenue of $46.18 billion during the quarter, compared to analyst estimates of $46.17 billion. CVS Health had a return on equity of 16.96% and a net margin of 2.77%. The company’s revenue for the quarter was up 3.5% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.64 earnings per share. sell-side analysts expect that CVS Health Corp will post 5.9 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, February 2nd. Stockholders of record on Wednesday, January 24th will be issued a $0.50 dividend. The ex-dividend date is Tuesday, January 23rd. This represents a $2.00 dividend on an annualized basis and a dividend yield of 2.54%. CVS Health’s payout ratio is currently 41.32%.

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About CVS Health

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

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