Rehmann Capital Advisory Group Sells 592 Shares of CVS Health Corporation (CVS)
Rehmann Capital Advisory Group decreased its position in CVS Health Corporation (NYSE:CVS) by 3.7% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 15,481 shares of the pharmacy operator’s stock after selling 592 shares during the period. Rehmann Capital Advisory Group’s holdings in CVS Health Corporation were worth $1,482,000 as of its most recent SEC filing.
Several other institutional investors also recently made changes to their positions in CVS. Springbok Capital Management LLC increased its position in shares of CVS Health Corporation by 190.5% in the first quarter. Springbok Capital Management LLC now owns 1,130 shares of the pharmacy operator’s stock worth $117,000 after buying an additional 741 shares during the period. Arcadia Investment Management Corp MI increased its position in shares of CVS Health Corporation by 87.7% in the second quarter. Arcadia Investment Management Corp MI now owns 1,605 shares of the pharmacy operator’s stock worth $154,000 after buying an additional 750 shares during the period. Physicians Financial Services Inc. increased its position in shares of CVS Health Corporation by 5.8% in the second quarter. Physicians Financial Services Inc. now owns 1,849 shares of the pharmacy operator’s stock worth $177,000 after buying an additional 101 shares during the period. Highland Private Wealth Management acquired a new position in shares of CVS Health Corporation during the first quarter worth about $198,000. Finally, Glovista Investments LLC acquired a new position in shares of CVS Health Corporation during the first quarter worth about $223,000. 80.96% of the stock is owned by institutional investors and hedge funds.
CVS Health Corporation (NYSE:CVS) traded down 0.63% during mid-day trading on Friday, hitting $88.99. The company had a trading volume of 9,151,656 shares. The company has a market cap of $94.88 billion, a PE ratio of 20.47 and a beta of 0.84. CVS Health Corporation has a one year low of $86.50 and a one year high of $106.67. The company’s 50 day moving average price is $92.98 and its 200-day moving average price is $97.44.
CVS Health Corporation (NYSE:CVS) last released its quarterly earnings data on Tuesday, August 2nd. The pharmacy operator reported $1.32 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.30 by $0.02. CVS Health Corporation had a return on equity of 15.86% and a net margin of 2.88%. The business earned $43.70 billion during the quarter, compared to analyst estimates of $44.28 billion. During the same quarter in the previous year, the firm posted $1.19 EPS. The business’s revenue for the quarter was up 17.6% compared to the same quarter last year. Equities research analysts anticipate that CVS Health Corporation will post $5.86 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, November 3rd. Shareholders of record on Monday, October 24th will be paid a dividend of $0.425 per share. This represents a $1.70 annualized dividend and a yield of 1.91%. The ex-dividend date of this dividend is Thursday, October 20th. CVS Health Corporation’s payout ratio is currently 39.08%.
A number of brokerages recently issued reports on CVS. Deutsche Bank AG upped their price target on CVS Health Corporation from $99.00 to $108.00 and gave the company a “hold” rating in a report on Wednesday, August 3rd. Zacks Investment Research upgraded CVS Health Corporation from a “sell” rating to a “hold” rating in a research note on Wednesday, August 3rd. FBR & Co reiterated an “outperform” rating and issued a $120.00 price objective on shares of CVS Health Corporation in a research note on Wednesday, August 3rd. Mizuho boosted their price objective on CVS Health Corporation from $108.00 to $111.00 and gave the company a “buy” rating in a research note on Thursday, August 4th. Finally, Leerink Swann reiterated a “buy” rating on shares of CVS Health Corporation in a research note on Wednesday, August 3rd. Six research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. CVS Health Corporation currently has an average rating of “Buy” and an average target price of $113.02.
CVS Health Corporation Company Profile
CVS Health Corporation, together with its subsidiaries, is a pharmacy company. The Company operates through three business segments: Pharmacy Services, Retail Pharmacy and Corporate. The Pharmacy Services segment provides a range of pharmacy benefit management (PBM) services and operates under the CVS/caremark Pharmacy Services, Novologix and Navarro Health Services names.
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