Oppenheimer & Co. Inc. Has $4.91 Million Stake in CVS Health Corporation (CVS)
Oppenheimer & Co. Inc. boosted its stake in CVS Health Corporation (NYSE:CVS) by 20.1% during the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 62,495 shares of the pharmacy operator’s stock after buying an additional 10,450 shares during the period. Oppenheimer & Co. Inc.’s holdings in CVS Health Corporation were worth $4,906,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also recently bought and sold shares of the company. LSV Asset Management boosted its position in CVS Health Corporation by 44.2% in the first quarter. LSV Asset Management now owns 4,579,916 shares of the pharmacy operator’s stock valued at $359,523,000 after buying an additional 1,404,384 shares in the last quarter. Swiss National Bank boosted its position in CVS Health Corporation by 26.9% in the first quarter. Swiss National Bank now owns 3,826,410 shares of the pharmacy operator’s stock valued at $300,373,000 after buying an additional 811,100 shares in the last quarter. Karp Capital Management Corp purchased a new position in CVS Health Corporation during the first quarter valued at about $55,824,000. Thornburg Investment Management Inc. boosted its position in CVS Health Corporation by 31.8% in the first quarter. Thornburg Investment Management Inc. now owns 2,712,089 shares of the pharmacy operator’s stock valued at $212,899,000 after buying an additional 654,058 shares in the last quarter. Finally, Crawford Investment Counsel Inc. boosted its position in CVS Health Corporation by 780.7% in the first quarter. Crawford Investment Counsel Inc. now owns 643,617 shares of the pharmacy operator’s stock valued at $50,524,000 after buying an additional 570,535 shares in the last quarter. 81.92% of the stock is owned by hedge funds and other institutional investors.
CVS Health Corporation (NYSE:CVS) traded up 0.34% during mid-day trading on Friday, hitting $79.41. 2,985,502 shares of the stock traded hands. The firm has a market cap of $80.73 billion, a PE ratio of 15.82 and a beta of 0.91. The stock has a 50 day moving average price of $78.83 and a 200 day moving average price of $78.96. CVS Health Corporation has a 12-month low of $69.30 and a 12-month high of $98.44.
CVS Health Corporation (NYSE:CVS) last released its earnings results on Tuesday, August 8th. The pharmacy operator reported $1.33 EPS for the quarter, topping analysts’ consensus estimates of $1.31 by $0.02. CVS Health Corporation had a net margin of 2.93% and a return on equity of 17.47%. The business had revenue of $45.69 billion for the quarter, compared to the consensus estimate of $45.36 billion. During the same period in the previous year, the firm earned $1.32 EPS. The business’s revenue for the quarter was up 4.5% on a year-over-year basis. On average, analysts expect that CVS Health Corporation will post $5.88 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Thursday, August 3rd. Investors of record on Monday, July 24th were issued a $0.50 dividend. The ex-dividend date of this dividend was Thursday, July 20th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 2.52%. CVS Health Corporation’s payout ratio is currently 39.92%.
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CVS has been the subject of several analyst reports. Vetr raised shares of CVS Health Corporation from a “buy” rating to a “strong-buy” rating and set a $87.97 price target for the company in a report on Wednesday, May 24th. Tigress Financial initiated coverage on shares of CVS Health Corporation in a report on Thursday, April 27th. They set a “buy” rating for the company. Leerink Swann set a $90.00 price target on shares of CVS Health Corporation and gave the stock a “buy” rating in a report on Tuesday, June 27th. Guggenheim reissued a “buy” rating on shares of CVS Health Corporation in a report on Monday, July 3rd. Finally, Needham & Company LLC initiated coverage on shares of CVS Health Corporation in a report on Tuesday, June 27th. They set a “hold” rating for the company. Eight investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. CVS Health Corporation currently has an average rating of “Buy” and a consensus price target of $91.27.
In related news, 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 sale, the chief financial officer now directly owns 176,983 shares in the company, valued at approximately $14,158,640. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Helena Foulkes sold 20,333 shares of the business’s stock in a transaction that occurred on Monday, June 26th. The stock was sold at an average price of $80.00, for a total transaction of $1,626,640.00. Following the completion of the sale, the executive vice president now owns 59,301 shares in the company, valued at $4,744,080. The disclosure for this sale can be found here. Insiders sold a total of 271,175 shares of company stock worth $21,632,597 over the last quarter. 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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