Farr Miller & Washington LLC DC reduced its holdings in shares of CVS Health Co. (NYSE:CVS) by 17.4% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 516,407 shares of the pharmacy operator’s stock after selling 108,987 shares during the period. CVS Health comprises 2.6% of Farr Miller & Washington LLC DC’s investment portfolio, making the stock its 15th largest holding. Farr Miller & Washington LLC DC’s holdings in CVS Health were worth $30,158,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also made changes to their positions in CVS. Nordea Investment Management AB increased its stake in CVS Health by 91.3% during the 2nd quarter. Nordea Investment Management AB now owns 18,518,644 shares of the pharmacy operator’s stock worth $1,189,082,000 after buying an additional 8,837,591 shares during the period. Morgan Stanley increased its stake in CVS Health by 19.4% during the 1st quarter. Morgan Stanley now owns 20,645,844 shares of the pharmacy operator’s stock worth $1,224,919,000 after buying an additional 3,352,364 shares during the period. BlackRock Inc. increased its stake in CVS Health by 3.2% during the 3rd quarter. BlackRock Inc. now owns 100,284,278 shares of the pharmacy operator’s stock worth $5,856,601,000 after buying an additional 3,127,908 shares during the period. AQR Capital Management LLC increased its stake in CVS Health by 296.5% during the 2nd quarter. AQR Capital Management LLC now owns 3,410,037 shares of the pharmacy operator’s stock worth $218,618,000 after buying an additional 2,549,974 shares during the period. Finally, Bank of Nova Scotia increased its stake in CVS Health by 856.3% during the 2nd quarter. Bank of Nova Scotia now owns 1,296,261 shares of the pharmacy operator’s stock worth $84,218,000 after buying an additional 1,160,705 shares during the period. 68.47% of the stock is currently owned by hedge funds and other institutional investors.
Shares of NYSE:CVS opened at $67.53 on Monday. The stock has a market cap of $88.52 billion, a P/E ratio of 11.22, a P/E/G ratio of 1.54 and a beta of 0.69. The firm has a fifty day moving average price of $62.73 and a 200 day moving average price of $62.91. The company has a debt-to-equity ratio of 0.89, a current ratio of 0.95 and a quick ratio of 0.67. CVS Health Co. has a 1-year low of $52.04 and a 1-year high of $76.44.
CVS Health (NYSE:CVS) last released its earnings results on Wednesday, November 11th. The pharmacy operator reported $1.66 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.33 by $0.33. CVS Health had a net margin of 2.99% and a return on equity of 15.60%. The company had revenue of $67.05 billion during the quarter, compared to analysts’ expectations of $66.54 billion. During the same quarter last year, the business earned $1.84 EPS. The business’s revenue was up 3.5% on a year-over-year basis. Sell-side analysts expect that CVS Health Co. will post 7.43 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Monday, November 2nd. Stockholders of record on Thursday, October 22nd were issued a $0.50 dividend. The ex-dividend date of this dividend was Wednesday, October 21st. This represents a $2.00 dividend on an annualized basis and a dividend yield of 2.96%. CVS Health’s dividend payout ratio is presently 28.25%.
In other news, EVP Alan Lotvin sold 7,138 shares of the stock in a transaction dated Friday, November 13th. The shares were sold at an average price of $70.00, for a total value of $499,660.00. Following the completion of the transaction, the executive vice president now owns 8,023 shares in the company, valued at approximately $561,610. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.46% of the company’s stock.
A number of equities research analysts have commented on CVS shares. Deutsche Bank Aktiengesellschaft dropped their price objective on shares of CVS Health from $104.00 to $101.00 and set a “buy” rating on the stock in a research report on Monday, November 9th. Credit Suisse Group increased their price objective on shares of CVS Health from $75.00 to $90.00 and gave the company an “outperform” rating in a research report on Friday, August 7th. SVB Leerink increased their price objective on shares of CVS Health from $72.00 to $73.00 and gave the company a “market perform” rating in a research report on Thursday, August 6th. Piper Sandler increased their price objective on shares of CVS Health from $72.00 to $76.00 and gave the company an “overweight” rating in a research report on Wednesday, November 11th. Finally, Cantor Fitzgerald reissued an “overweight” rating on shares of CVS Health in a research report on Monday, November 9th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating, eleven have assigned a buy rating and two have issued a strong buy rating to the stock. CVS Health has an average rating of “Buy” and an average target price of $82.43.
About CVS Health
CVS Health Corporation provides health services and plans in the United States. The company's Pharmacy Services segment offers pharmacy benefit management solutions, including plan design and administration, formulary management, retail pharmacy network management, mail order pharmacy, specialty pharmacy and infusion, clinical, and disease and medical spend management services.
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