Wright Investors Service Inc. reduced its position in shares of CVS Health Corp (NYSE:CVS) by 11.2% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 36,830 shares of the pharmacy operator’s stock after selling 4,668 shares during the quarter. Wright Investors Service Inc.’s holdings in CVS Health were worth $2,007,000 as of its most recent SEC filing.
Several other hedge funds also recently bought and sold shares of the company. Sigma Planning Corp lifted its position in shares of CVS Health by 18.2% during the 2nd quarter. Sigma Planning Corp now owns 58,414 shares of the pharmacy operator’s stock valued at $3,183,000 after buying an additional 8,987 shares in the last quarter. Watch Point Trust Co lifted its position in shares of CVS Health by 26.6% during the 2nd quarter. Watch Point Trust Co now owns 56,872 shares of the pharmacy operator’s stock valued at $3,099,000 after buying an additional 11,945 shares in the last quarter. Executive Wealth Management LLC lifted its position in shares of CVS Health by 62.4% during the 2nd quarter. Executive Wealth Management LLC now owns 565 shares of the pharmacy operator’s stock valued at $31,000 after buying an additional 217 shares in the last quarter. Stephens Inc. AR lifted its position in shares of CVS Health by 42.9% during the 2nd quarter. Stephens Inc. AR now owns 142,640 shares of the pharmacy operator’s stock valued at $7,772,000 after buying an additional 42,800 shares in the last quarter. Finally, White Pine Investment CO purchased a new position in shares of CVS Health during the 2nd quarter valued at about $4,105,000. 77.18% of the stock is currently owned by hedge funds and other institutional investors.
A number of research analysts have recently weighed in on CVS shares. Guggenheim started coverage on CVS Health in a research report on Thursday, April 18th. They set a “buy” rating and a $75.00 price objective on the stock. BMO Capital Markets set a $63.00 price target on CVS Health and gave the stock a “hold” rating in a report on Friday, May 3rd. Citigroup boosted their price target on CVS Health from $68.00 to $72.00 and gave the stock a “buy” rating in a report on Thursday, August 8th. Standpoint Research raised CVS Health from a “hold” rating to a “buy” rating in a report on Wednesday, June 5th. Finally, Raymond James lowered their price target on CVS Health from $90.00 to $75.00 and set a “strong-buy” rating on the stock in a report on Thursday, April 18th. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating, sixteen have issued a buy rating and one has given a strong buy rating to the company. CVS Health has a consensus rating of “Buy” and a consensus target price of $75.14.
Shares of CVS traded down $0.10 during mid-day trading on Thursday, hitting $58.46. 288,073 shares of the stock were exchanged, compared to its average volume of 8,160,261. The stock has a market cap of $76.38 billion, a P/E ratio of 8.24, a PEG ratio of 1.29 and a beta of 0.90. CVS Health Corp has a 52-week low of $51.72 and a 52-week high of $82.15. The stock has a 50-day simple moving average of $56.23. 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 issued its quarterly earnings data on Wednesday, August 7th. The pharmacy operator reported $1.89 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.70 by $0.19. The business 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% on a year-over-year basis. During the same period in the prior year, the firm earned $1.69 EPS. On average, analysts predict that CVS Health Corp will post 6.96 EPS for the current fiscal year.
The company also recently disclosed 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 annualized dividend and a dividend yield of 3.42%. CVS Health’s dividend payout ratio (DPR) is 28.25%.
CVS Health Company 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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