Focused Investors LLC Has $137.77 Million Stake in CVS Health Corporation (NYSE:CVS)
Focused Investors LLC cut its stake in CVS Health Corporation (NYSE:CVS) by 19.3% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,712,300 shares of the pharmacy operator’s stock after selling 408,400 shares during the period. CVS Health Corporation makes up approximately 5.9% of Focused Investors LLC’s portfolio, making the stock its 3rd largest position. Focused Investors LLC’s holdings in CVS Health Corporation were worth $137,772,000 at the end of the most recent quarter.
A number of other large investors have also recently added to or reduced their stakes in the company. Mercer Capital Advisers Inc. purchased a new stake in CVS Health Corporation during the first quarter valued at about $118,000. Gemmer Asset Management LLC raised its stake in CVS Health Corporation by 15.3% in the second quarter. Gemmer Asset Management LLC now owns 1,509 shares of the pharmacy operator’s stock valued at $121,000 after buying an additional 200 shares in the last quarter. Orrstown Financial Services Inc. raised its stake in CVS Health Corporation by 2,000.0% in the first quarter. Orrstown Financial Services Inc. now owns 2,100 shares of the pharmacy operator’s stock valued at $165,000 after buying an additional 2,000 shares in the last quarter. SRS Capital Advisors Inc. raised its stake in CVS Health Corporation by 48.2% in the first quarter. SRS Capital Advisors Inc. now owns 2,256 shares of the pharmacy operator’s stock valued at $177,000 after buying an additional 734 shares in the last quarter. Finally, Edmp Inc. purchased a new stake in CVS Health Corporation during the first quarter valued at about $202,000. 81.92% of the stock is owned by institutional investors.
CVS Health Corporation (NYSE:CVS) traded down 1.74% on Tuesday, hitting $77.74. The stock had a trading volume of 3,548,346 shares. The company has a market cap of $79.20 billion, a PE ratio of 16.21 and a beta of 0.91. CVS Health Corporation has a 12 month low of $69.30 and a 12 month high of $98.44. The company has a 50-day moving average of $78.75 and a 200 day moving average of $79.09. CVS Health Corporation also was the recipient of unusually large options trading on Monday. Stock investors bought 12,222 put options on the stock. This represents an increase of 254% compared to the typical volume of 3,454 put options.
CVS Health Corporation (NYSE:CVS) last issued its quarterly earnings results on Tuesday, August 8th. The pharmacy operator reported $1.33 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.31 by $0.02. CVS Health Corporation had a return on equity of 17.56% and a net margin of 2.86%. The firm had revenue of $45.69 billion during the quarter, compared to analysts’ expectations of $45.36 billion. During the same period in the previous year, the business earned $1.32 earnings per share. The firm’s revenue for the quarter was up 4.5% on a year-over-year basis. On average, analysts predict that CVS Health Corporation will post $5.87 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Thursday, August 3rd. Investors of record on Monday, July 24th were given a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a dividend yield of 2.53%. The ex-dividend date was Thursday, July 20th. CVS Health Corporation’s payout ratio is 41.67%.
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Several research firms recently issued reports on CVS. Vetr lowered shares of CVS Health Corporation from a “strong-buy” rating to a “buy” rating and set a $88.97 target price for the company. in a report on Monday, June 12th. Guggenheim reissued a “buy” rating on shares of CVS Health Corporation in a report on Monday, July 3rd. Needham & Company LLC began coverage on shares of CVS Health Corporation in a report on Tuesday, June 27th. They issued a “hold” rating for the company. Jefferies Group LLC restated a “hold” rating and issued a $82.00 price target on shares of CVS Health Corporation in a research note on Friday, July 14th. Finally, BidaskClub downgraded CVS Health Corporation from a “hold” rating to a “sell” rating in a research note on Monday, July 24th. Nine analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. CVS Health Corporation currently has an average rating of “Buy” and a consensus target price of $92.20.
In other CVS Health Corporation news, EVP Helena Foulkes sold 20,332 shares of the business’s stock in a transaction on Monday, June 19th. The stock was sold at an average price of $76.98, for a total transaction of $1,565,157.36. Following the transaction, the executive vice president now owns 59,300 shares of the company’s stock, valued at $4,564,914. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO David M. Denton sold 230,510 shares of the business’s stock in a transaction on Monday, June 12th. The stock was sold at an average price of $80.00, for a total value of $18,440,800.00. Following the transaction, the chief financial officer now directly owns 176,983 shares in the company, valued at approximately $14,158,640. The disclosure for this sale can be found here. Insiders have sold 271,175 shares of company stock valued at $21,632,597 over the last quarter. 0.61% of the stock is owned by company insiders.
CVS Health Corporation Company Profile
CVS Health Corporation, together with its subsidiaries, is an integrated pharmacy healthcare company. The Company provides pharmacy care for the senior community through Omnicare, Inc (Omnicare) and Omnicare’s long-term care (LTC) operations, which include distribution of pharmaceuticals, related pharmacy consulting and other ancillary services to chronic care facilities and other care settings.
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