CVS Health Corporation (CVS) Shares Sold by Intact Investment Management Inc.
Intact Investment Management Inc. decreased its stake in shares of CVS Health Corporation (NYSE:CVS) by 3.1% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 30,800 shares of the pharmacy operator’s stock after selling 1,000 shares during the period. Intact Investment Management Inc.’s holdings in CVS Health Corporation were worth $2,479,000 at the end of the most recent reporting period.
A number of other hedge funds also recently modified their holdings of CVS. American Assets Investment Management LLC purchased a new stake in CVS Health Corporation during the first quarter worth approximately $1,832,000. Benjamin F. Edwards & Company Inc. grew its stake in CVS Health Corporation by 10.5% during the first quarter. Benjamin F. Edwards & Company Inc. now owns 31,014 shares of the pharmacy operator’s stock worth $2,435,000 after buying an additional 2,957 shares during the period. Crawford Investment Counsel Inc. grew its stake in CVS Health Corporation by 780.7% during the first quarter. Crawford Investment Counsel Inc. now owns 643,617 shares of the pharmacy operator’s stock worth $50,524,000 after buying an additional 570,535 shares during the period. Swiss National Bank grew its stake in CVS Health Corporation by 26.9% during the first quarter. Swiss National Bank now owns 3,826,410 shares of the pharmacy operator’s stock worth $300,373,000 after buying an additional 811,100 shares during the period. Finally, Baskin Financial Services Inc. grew its stake in CVS Health Corporation by 3.7% during the first quarter. Baskin Financial Services Inc. now owns 91,061 shares of the pharmacy operator’s stock worth $7,147,000 after buying an additional 3,238 shares during the period. 82.04% of the stock is owned by hedge funds and other institutional investors.
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Several equities research analysts have issued reports on CVS shares. BidaskClub downgraded shares of CVS Health Corporation from a “hold” rating to a “sell” rating in a research note on Monday, July 24th. Wolfe Research downgraded shares of CVS Health Corporation from an “outperform” rating to a “market perform” rating and decreased their price objective for the stock from $89.00 to $82.00 in a research note on Monday, August 14th. Robert W. Baird reiterated an “outperform” rating and set a $90.00 price objective on shares of CVS Health Corporation in a research note on Monday, August 14th. Citigroup Inc. decreased their price objective on shares of CVS Health Corporation from $88.00 to $87.00 and set a “neutral” rating for the company in a research note on Thursday, August 17th. Finally, Loop Capital started coverage on shares of CVS Health Corporation in a research note on Thursday, August 24th. They set a “hold” rating and a $83.00 price objective for the company. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and fourteen have assigned a buy rating to the stock. The stock has an average rating of “Buy” and a consensus price target of $85.82.
CVS Health Corporation (CVS) opened at $69.80 on Thursday. CVS Health Corporation has a 52 week low of $66.45 and a 52 week high of $84.72. The company has a current ratio of 1.05, a quick ratio of 0.55 and a debt-to-equity ratio of 0.67. The company has a market cap of $71,355.16, a price-to-earnings ratio of 12.34, a price-to-earnings-growth ratio of 1.21 and a beta of 0.86.
CVS Health Corporation (NYSE:CVS) last posted its quarterly earnings data on Monday, November 6th. The pharmacy operator reported $1.50 EPS for the quarter, beating the Zacks’ consensus estimate of $1.49 by $0.01. CVS Health Corporation had a net margin of 2.77% and a return on equity of 16.96%. The firm had revenue of $46.18 billion for the quarter, compared to the consensus estimate of $46.17 billion. During the same period in the prior year, the firm posted $1.64 EPS. The firm’s revenue was up 3.5% compared to the same quarter last year. equities research analysts predict that CVS Health Corporation will post 5.89 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Friday, November 3rd. Shareholders of record on Tuesday, October 24th were paid a dividend of $0.50 per share. The ex-dividend date of this dividend was Monday, October 23rd. This represents a $2.00 dividend on an annualized basis and a yield of 2.87%. CVS Health Corporation’s dividend payout ratio (DPR) is 41.32%.
In other CVS Health Corporation news, COO Jonathan C. Roberts sold 85,743 shares of the stock in a transaction on Monday, September 18th. The shares were sold at an average price of $83.14, for a total transaction of $7,128,673.02. Following the sale, the chief operating officer now directly owns 119,555 shares of the company’s stock, valued at $9,939,802.70. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Larry J. Merlo sold 241,150 shares of the stock in a transaction on Wednesday, September 13th. The stock was sold at an average price of $83.07, for a total transaction of $20,032,330.50. Following the sale, the insider now directly owns 299,255 shares in the company, valued at $24,859,112.85. The disclosure for this sale can be found here. Insiders have sold a total of 714,125 shares of company stock worth $58,119,381 over the last quarter. 0.61% of the stock is currently owned by 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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