Lucus Advisors LLC Acquires New Position in CVS Health Corporation (CVS)
Lucus Advisors LLC acquired a new position in CVS Health Corporation (NYSE:CVS) during the first quarter, Holdings Channel reports. The firm acquired 5,199 shares of the pharmacy operator’s stock, valued at approximately $408,000.
Other large investors also recently modified their holdings of the company. Mercer Capital Advisers Inc. acquired a new position in shares of CVS Health Corporation during the first quarter valued at about $118,000. Orrstown Financial Services Inc. raised its position in shares of 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 during the period. SRS Capital Advisors Inc. raised its position in shares of 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 during the period. Edmp Inc. acquired a new position in shares of CVS Health Corporation during the first quarter valued at about $202,000. Finally, Pinnacle Bank acquired a new position in shares of CVS Health Corporation during the first quarter valued at about $203,000. 81.92% of the stock is currently owned by hedge funds and other institutional investors.
Shares of CVS Health Corporation (NYSE CVS) traded down 0.05% during mid-day trading on Thursday, reaching $79.39. 604,382 shares of the company’s stock traded hands. The company has a 50 day moving average of $78.74 and a 200 day moving average of $78.97. The company has a market cap of $80.58 billion, a price-to-earnings ratio of 15.82 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. CVS Health Corporation also was the recipient of some unusual options trading on Monday. Stock investors purchased 12,222 put options on the stock. This is an increase of 254% compared to the average 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 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.31 by $0.02. CVS Health Corporation had a return on equity of 17.47% and a net margin of 2.93%. The firm had revenue of $45.69 billion for the quarter, compared to analyst estimates of $45.36 billion. During the same period in the previous year, the firm earned $1.32 earnings per share. The company’s revenue was up 4.5% compared to the same quarter last year. Analysts expect that CVS Health Corporation will post $5.88 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Thursday, August 3rd. Shareholders of record on Monday, July 24th were paid a $0.50 dividend. This represents a $2.00 annualized dividend and a yield of 2.52%. The ex-dividend date of this dividend was Thursday, July 20th. CVS Health Corporation’s dividend payout ratio (DPR) is presently 39.92%.
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Several research analysts have recently issued reports on the stock. Vetr lowered shares of CVS Health Corporation from a “buy” rating to a “hold” rating and set a $85.78 target price on the stock. in a research note on Thursday, April 27th. Cowen and Company reaffirmed an “outperform” rating and issued a $86.00 target price on shares of CVS Health Corporation in a research note on Tuesday, June 13th. BidaskClub raised shares of CVS Health Corporation from a “sell” rating to a “hold” rating in a research note on Wednesday, August 2nd. Leerink Swann set a $90.00 target price on shares of CVS Health Corporation and gave the company a “buy” rating in a research note on Tuesday, June 27th. Finally, Needham & Company LLC assumed coverage on shares of CVS Health Corporation in a research note on Tuesday, June 27th. They issued a “hold” rating on the stock. Eight research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. CVS Health Corporation presently has a consensus rating of “Buy” and a consensus target price of $91.27.
In other CVS Health Corporation news, EVP Helena Foulkes sold 20,332 shares of the business’s stock in a transaction that occurred on Monday, June 19th. The stock was sold at an average price of $76.98, for a total value of $1,565,157.36. Following the transaction, the executive vice president now directly owns 59,300 shares of the company’s stock, valued at $4,564,914. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO David M. Denton sold 230,510 shares of the business’s stock in a transaction that occurred on Monday, June 12th. The shares were sold at an average price of $80.00, for a total value of $18,440,800.00. Following the completion of the transaction, the chief financial officer now directly owns 176,983 shares in the company, valued at $14,158,640. The disclosure for this sale can be found here. Over the last three months, insiders sold 271,175 shares of company stock worth $21,632,597. Insiders own 0.61% of the company’s stock.
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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