Woodstock Corp lifted its position in shares of CVS Health Co. (NYSE:CVS) by 2.2% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 117,738 shares of the pharmacy operator’s stock after purchasing an additional 2,497 shares during the quarter. Woodstock Corp’s holdings in CVS Health were worth $8,857,000 as of its most recent filing with the Securities & Exchange Commission.
Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Jackson Grant Investment Advisers Inc. boosted its position in shares of CVS Health by 127.8% during the fourth quarter. Jackson Grant Investment Advisers Inc. now owns 360 shares of the pharmacy operator’s stock valued at $25,000 after purchasing an additional 202 shares in the last quarter. ShoreHaven Wealth Partners LLC bought a new stake in CVS Health in the fourth quarter worth $25,000. Greenhouse Wealth Management LLC purchased a new position in shares of CVS Health in the fourth quarter worth $26,000. Reby Advisors LLC purchased a new position in shares of CVS Health in the fourth quarter worth $34,000. Finally, Fort Pitt Capital Group LLC purchased a new position in shares of CVS Health in the fourth quarter worth $35,000. Institutional investors own 74.21% of the company’s stock.
In other news, EVP Alan Lotvin sold 25,836 shares of the business’s stock in a transaction on Friday, January 8th. The shares were sold at an average price of $75.00, for a total value of $1,937,700.00. Following the transaction, the executive vice president now owns 18,469 shares of the company’s stock, valued at $1,385,175. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Larry J. Merlo sold 62,893 shares of the business’s stock in a transaction on Tuesday, January 19th. The stock was sold at an average price of $77.00, for a total transaction of $4,842,761.00. Following the completion of the transaction, the chief executive officer now directly owns 586,222 shares in the company, valued at approximately $45,139,094. The disclosure for this sale can be found here. Insiders have sold 594,375 shares of company stock worth $44,673,602 in the last ninety days. Insiders own 0.46% of the company’s stock.
NYSE:CVS traded down $0.41 during trading hours on Thursday, hitting $74.08. 27,652 shares of the stock traded hands, compared to its average volume of 7,071,797. The company has a quick ratio of 0.67, a current ratio of 0.95 and a debt-to-equity ratio of 0.89. CVS Health Co. has a 1 year low of $55.36 and a 1 year high of $77.23. The company has a market cap of $97.15 billion, a price-to-earnings ratio of 12.24, a price-to-earnings-growth ratio of 1.72 and a beta of 0.82. The stock has a 50 day moving average price of $72.43 and a 200 day moving average price of $68.51.
CVS Health (NYSE:CVS) last issued its quarterly earnings results on Monday, February 15th. The pharmacy operator reported $1.30 earnings per share for the quarter, beating the consensus estimate of $1.24 by $0.06. CVS Health had a net margin of 2.99% and a return on equity of 15.60%. The business had revenue of $69.55 billion for the quarter, compared to the consensus estimate of $68.67 billion. During the same quarter in the previous year, the firm earned $1.73 earnings per share. Equities analysts forecast that CVS Health Co. will post 7.43 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Monday, May 3rd. Shareholders of record on Friday, April 23rd will be issued a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a yield of 2.70%. The ex-dividend date of this dividend is Thursday, April 22nd. CVS Health’s dividend payout ratio is currently 28.25%.
Several research analysts have recently weighed in on the company. Guggenheim restated a “neutral” rating on shares of CVS Health in a research note on Tuesday, March 23rd. Jefferies Financial Group upgraded CVS Health from a “hold” rating to a “buy” rating and set a $90.00 price target for the company in a research note on Friday, January 8th. Finally, SVB Leerink upped their price objective on CVS Health from $73.00 to $80.00 and gave the company a “market perform” rating in a research report on Monday, December 14th. Four research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. CVS Health has an average rating of “Buy” and an average target price of $82.08.
About CVS Health
CVS Health Corporation provides health services 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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