Westhampton Capital LLC purchased a new position in CVS Health Corp (NYSE:CVS) during the 2nd quarter, HoldingsChannel reports. The fund purchased 6,545 shares of the pharmacy operator’s stock, valued at approximately $357,000.
A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. FMR LLC increased its stake in CVS Health by 30.6% in the fourth quarter. FMR LLC now owns 39,263,265 shares of the pharmacy operator’s stock valued at $2,572,528,000 after acquiring an additional 9,194,005 shares during the last quarter. Geode Capital Management LLC increased its stake in CVS Health by 36.2% in the fourth quarter. Geode Capital Management LLC now owns 16,462,292 shares of the pharmacy operator’s stock valued at $1,076,697,000 after acquiring an additional 4,376,604 shares during the last quarter. Dimensional Fund Advisors LP increased its stake in CVS Health by 28.3% in the fourth quarter. Dimensional Fund Advisors LP now owns 13,790,753 shares of the pharmacy operator’s stock valued at $903,574,000 after acquiring an additional 3,041,266 shares during the last quarter. Norges Bank bought a new position in CVS Health in the fourth quarter valued at $840,254,000. Finally, Nordea Investment Management AB increased its stake in CVS Health by 2.8% in the first quarter. Nordea Investment Management AB now owns 12,426,745 shares of the pharmacy operator’s stock valued at $670,172,000 after acquiring an additional 340,315 shares during the last quarter. 75.20% of the stock is currently owned by institutional investors and hedge funds.
Shares of NYSE:CVS traded down $1.50 on Friday, reaching $60.55. 5,658,025 shares of the company traded hands, compared to its average volume of 9,224,633. The business’s 50-day simple moving average is $57.21 and its 200 day simple moving average is $56.35. CVS Health Corp has a 52 week low of $51.72 and a 52 week high of $82.15. The stock has a market capitalization of $80.06 billion, a P/E ratio of 8.55, a price-to-earnings-growth ratio of 1.35 and a beta of 0.90. The company has a current ratio of 0.95, a quick ratio of 0.64 and a debt-to-equity ratio of 1.39.
CVS Health (NYSE:CVS) last announced its quarterly earnings data on Wednesday, August 7th. The pharmacy operator reported $1.89 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.70 by $0.19. The firm had revenue of $63.43 billion for the quarter, compared to analysts’ expectations of $62.66 billion. CVS Health had a return on equity of 16.15% and a net margin of 1.91%. The company’s revenue for the quarter was up 35.2% compared to the same quarter last year. During the same period last year, the firm earned $1.69 earnings per share. Sell-side analysts expect that CVS Health Corp will post 6.96 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Friday, August 2nd. Stockholders of record on Thursday, July 25th were issued a dividend of $0.50 per share. The ex-dividend date of this dividend was Wednesday, July 24th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 3.30%. CVS Health’s dividend payout ratio is currently 28.25%.
CVS has been the topic of a number of research analyst reports. Credit Suisse Group cut CVS Health from an “outperform” rating to a “neutral” rating and reduced their target price for the company from $73.00 to $61.00 in a research note on Monday, April 29th. Morgan Stanley reissued a “buy” rating and issued a $74.00 target price on shares of CVS Health in a research note on Sunday, August 11th. ValuEngine cut CVS Health from a “sell” rating to a “strong sell” rating in a research note on Tuesday, July 2nd. Cantor Fitzgerald reaffirmed a “buy” rating and set a $80.00 price objective on shares of CVS Health in a research note on Wednesday, May 1st. Finally, Citigroup raised their price objective on CVS Health from $68.00 to $72.00 and gave the company a “buy” rating in a research note on Thursday, August 8th. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating, sixteen have assigned a buy rating and one has given a strong buy rating to the company. CVS Health presently has a consensus rating of “Buy” and a consensus target price of $75.14.
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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