Resources Management Corp CT ADV purchased a new position in shares of CVS Health Corp (NYSE:CVS) in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 115,175 shares of the pharmacy operator’s stock, valued at approximately $7,264,000. CVS Health comprises 1.3% of Resources Management Corp CT ADV’s investment portfolio, making the stock its 24th biggest holding.
Several other hedge funds and other institutional investors also recently modified their holdings of CVS. Manning & Napier Group LLC increased its stake in CVS Health by 21.3% in the 2nd quarter. Manning & Napier Group LLC now owns 363,888 shares of the pharmacy operator’s stock worth $19,827,000 after acquiring an additional 63,925 shares during the last quarter. Brookstone Capital Management increased its position in CVS Health by 15.8% in the second quarter. Brookstone Capital Management now owns 6,053 shares of the pharmacy operator’s stock worth $330,000 after purchasing an additional 825 shares during the last quarter. Trustcore Financial Services LLC increased its position in CVS Health by 6.6% in the second quarter. Trustcore Financial Services LLC now owns 4,285 shares of the pharmacy operator’s stock worth $234,000 after purchasing an additional 265 shares during the last quarter. BTIM Corp. bought a new stake in CVS Health in the second quarter worth $284,000. Finally, First Merchants Corp raised its stake in CVS Health by 8.6% during the second quarter. First Merchants Corp now owns 32,745 shares of the pharmacy operator’s stock valued at $1,784,000 after purchasing an additional 2,590 shares in the last quarter. 76.74% of the stock is owned by hedge funds and other institutional investors.
In other CVS Health news, EVP Troyen A. Brennan sold 23,604 shares of the company’s stock in a transaction 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 completion of the sale, the executive vice president now directly owns 107,921 shares in the company, valued at approximately $7,338,628. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Eva C. Boratto sold 8,130 shares of the stock in a transaction on Thursday, September 12th. The stock was sold at an average price of $65.00, for a total value of $528,450.00. Following the transaction, 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. Insiders have sold 129,580 shares of company stock valued at $9,259,536 in the last ninety days. Insiders own 0.53% of the company’s stock.
A number of research analysts recently commented on CVS shares. Evercore ISI set a $63.00 price target on shares of CVS Health and gave the company a “buy” rating in a report on Wednesday, August 7th. Raymond James reiterated a “strong-buy” rating and issued a $90.00 price target (up previously from $80.00) on shares of CVS Health in a research report on Wednesday. Mizuho boosted their price objective on CVS Health from $71.00 to $82.00 and gave the stock a “buy” rating in a research note on Friday, November 8th. Deutsche Bank assumed coverage on CVS Health in a research report on Thursday, September 12th. They set a “buy” rating and a $91.00 price objective on the stock. Finally, SunTrust Banks raised their price objective on CVS Health to $85.00 and gave the company a “buy” rating in a research note on Thursday, November 7th. One research analyst has rated the stock with a sell rating, six have given a hold rating, eighteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average price target of $77.14.
CVS Health stock traded up $0.29 during mid-day trading on Wednesday, hitting $75.00. The company’s stock had a trading volume of 4,948,489 shares, compared to its average volume of 9,867,358. The company has a 50 day moving average of $70.48 and a 200-day moving average of $60.94. The stock has a market cap of $97.92 billion, a PE ratio of 10.59, a P/E/G ratio of 1.62 and a beta of 0.88. The company has a debt-to-equity ratio of 1.32, a quick ratio of 0.61 and a current ratio of 0.92. CVS Health Corp has a one year low of $51.72 and a one year high of $78.06.
CVS Health (NYSE:CVS) last released its earnings results on Wednesday, November 6th. The pharmacy operator reported $1.84 earnings per share for the quarter, topping analysts’ consensus estimates of $1.77 by $0.07. The business had revenue of $64.81 billion for the quarter, compared to analyst estimates of $62.99 billion. CVS Health had a return on equity of 15.45% and a net margin of 1.83%. The business’s revenue was up 36.5% compared to the same quarter last year. During the same quarter last year, the firm posted $1.73 earnings per share. On average, equities research analysts forecast that CVS Health Corp will post 7.03 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Monday, November 4th. Stockholders of record on Thursday, October 24th were given a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a dividend yield of 2.67%. The ex-dividend date of this dividend was Wednesday, October 23rd. CVS Health’s dividend payout ratio (DPR) is presently 28.25%.
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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