Gareth Morgan Investments Limited Partnership purchased a new position in shares of CVS Health Corporation (NYSE:CVS) in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm purchased 14,860 shares of the pharmacy operator’s stock, valued at approximately $1,196,000.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Lee Danner & Bass Inc. raised its position in CVS Health Corporation by 4.3% in the first quarter. Lee Danner & Bass Inc. now owns 46,344 shares of the pharmacy operator’s stock worth $3,638,000 after acquiring an additional 1,903 shares in the last quarter. Teza Capital Management LLC purchased a new position in shares of CVS Health Corporation in the first quarter valued at $803,000. Morris Capital Advisors LLC increased its position in shares of CVS Health Corporation by 6.1% in the first quarter. Morris Capital Advisors LLC now owns 4,270 shares of the pharmacy operator’s stock valued at $335,000 after buying an additional 244 shares in the last quarter. Balasa Dinverno & Foltz LLC increased its position in shares of CVS Health Corporation by 3.0% in the first quarter. Balasa Dinverno & Foltz LLC now owns 7,514 shares of the pharmacy operator’s stock valued at $590,000 after buying an additional 217 shares in the last quarter. Finally, Montecito Bank & Trust increased its position in shares of CVS Health Corporation by 31.8% in the first quarter. Montecito Bank & Trust now owns 13,523 shares of the pharmacy operator’s stock valued at $1,087,000 after buying an additional 3,265 shares in the last quarter. 81.42% of the stock is owned by hedge funds and other institutional investors.

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In related news, EVP Thomas M. Moriarty sold 20,547 shares of the firm’s stock in a transaction dated Monday, October 2nd. The stock was sold at an average price of $81.17, for a total transaction of $1,667,799.99. Following the sale, the executive vice president now directly owns 43,178 shares in the company, valued at approximately $3,504,758.26. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Larry J. Merlo sold 241,150 shares of the firm’s stock in a transaction dated Wednesday, September 13th. The shares were sold at an average price of $83.07, for a total value of $20,032,330.50. Following the sale, the insider now owns 299,255 shares in the company, valued at $24,859,112.85. The disclosure for this sale can be found here. Insiders sold a total of 714,125 shares of company stock worth $58,119,381 over the last ninety days. Corporate insiders own 0.61% of the company’s stock.

A number of research analysts have recently weighed in on the company. Loop Capital dropped their price target on CVS Health Corporation from $83.00 to $73.00 and set a “hold” rating for the company in a research report on Tuesday, November 7th. Jefferies Group LLC dropped their price target on CVS Health Corporation from $86.00 to $76.00 and set a “hold” rating for the company in a research report on Tuesday, November 7th. Needham & Company LLC restated a “hold” rating on shares of CVS Health Corporation in a research report on Sunday, September 10th. Oppenheimer Holdings, Inc. restated a “buy” rating and issued a $95.00 price target on shares of CVS Health Corporation in a research report on Monday, October 9th. Finally, TheStreet cut CVS Health Corporation from a “b-” rating to a “c+” rating in a research report on Tuesday, October 31st. One analyst has rated the stock with a sell rating, eight have issued a hold rating and fourteen have assigned a buy rating to the stock. CVS Health Corporation currently has a consensus rating of “Buy” and an average price target of $85.82.

CVS Health Corporation (CVS) opened at $70.68 on Monday. The firm has a market capitalization of $71,598.27, a PE ratio of 12.38, a PEG ratio of 1.21 and a beta of 0.86. CVS Health Corporation has a 52 week low of $66.45 and a 52 week high of $84.72. The company has a quick ratio of 0.55, a current ratio of 1.05 and a debt-to-equity ratio of 0.67.

CVS Health Corporation (NYSE:CVS) last released its quarterly earnings data on Monday, November 6th. The pharmacy operator reported $1.50 earnings per share for the quarter, beating the consensus estimate of $1.49 by $0.01. The business had revenue of $46.18 billion for the quarter, compared to analyst estimates of $46.17 billion. CVS Health Corporation had a return on equity of 16.96% and a net margin of 2.77%. The company’s revenue was up 3.5% compared to the same quarter last year. During the same period in the previous year, the company posted $1.64 EPS. sell-side analysts anticipate that CVS Health Corporation will post 5.9 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which was paid on Friday, November 3rd. Stockholders of record on Tuesday, October 24th were paid a $0.50 dividend. This represents a $2.00 annualized dividend and a dividend yield of 2.83%. The ex-dividend date was Monday, October 23rd. CVS Health Corporation’s dividend payout ratio is currently 41.32%.

About CVS Health Corporation

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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Institutional Ownership by Quarter for CVS Health Corporation (NYSE:CVS)

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