Lingohr & Partner Asset Management GmbH Has $1.76 Million Position in CVS Health Corp (CVS)
Lingohr & Partner Asset Management GmbH grew its holdings in shares of CVS Health Corp (NYSE:CVS) by 9.3% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 22,400 shares of the pharmacy operator’s stock after purchasing an additional 1,900 shares during the quarter. CVS Health makes up 1.0% of Lingohr & Partner Asset Management GmbH’s investment portfolio, making the stock its 15th largest holding. Lingohr & Partner Asset Management GmbH’s holdings in CVS Health were worth $1,758,000 as of its most recent SEC filing.
Several other institutional investors have also made changes to their positions in CVS. Sandy Spring Bank increased its holdings in CVS Health by 3.7% in the 2nd quarter. Sandy Spring Bank now owns 75,966 shares of the pharmacy operator’s stock worth $6,113,000 after acquiring an additional 2,708 shares during the last quarter. Strategic Global Advisors LLC increased its holdings in CVS Health by 480.9% in the 2nd quarter. Strategic Global Advisors LLC now owns 17,763 shares of the pharmacy operator’s stock worth $1,429,000 after acquiring an additional 14,705 shares during the last quarter. Profund Advisors LLC increased its holdings in CVS Health by 20.0% in the 2nd quarter. Profund Advisors LLC now owns 34,111 shares of the pharmacy operator’s stock worth $2,745,000 after acquiring an additional 5,687 shares during the last quarter. Loews Corp purchased a new stake in CVS Health in the 2nd quarter worth about $20,115,000. Finally, BlueMountain Capital Management LLC increased its holdings in CVS Health by 1,092.9% in the 2nd quarter. BlueMountain Capital Management LLC now owns 21,652 shares of the pharmacy operator’s stock worth $1,742,000 after acquiring an additional 19,837 shares during the last quarter. 82.60% of the stock is owned by hedge funds and other institutional investors.
CVS has been the subject of several recent research reports. Robert W. Baird reissued a “hold” rating and issued a $77.00 price objective on shares of CVS Health in a report on Friday, October 27th. Needham & Company LLC raised CVS Health from a “hold” rating to a “buy” rating and lifted their price objective for the stock from $69.02 to $79.00 in a report on Friday, November 10th. Mizuho set a $90.00 price objective on CVS Health and gave the stock a “buy” rating in a report on Tuesday, October 24th. BidaskClub downgraded CVS Health from a “hold” rating to a “sell” rating in a research note on Friday, August 25th. Finally, Loop Capital initiated coverage on CVS Health in a research note on Thursday, August 24th. They issued a “hold” rating and a $83.00 target price for the company. 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 company. The stock currently has a consensus rating of “Buy” and a consensus target price of $85.82.
Shares of CVS Health Corp (CVS) traded down $1.48 during midday trading on Friday, reaching $75.12. The company’s stock had a trading volume of 10,566,187 shares, compared to its average volume of 6,682,293. CVS Health Corp has a fifty-two week low of $66.45 and a fifty-two 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 $76,100.00, a P/E ratio of 12.73, a P/E/G ratio of 1.25 and a beta of 0.86.
CVS Health (NYSE:CVS) last issued its quarterly earnings results on Monday, November 6th. The pharmacy operator reported $1.50 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.49 by $0.01. The firm had revenue of $46.18 billion during the quarter, compared to the consensus estimate of $46.17 billion. CVS Health had a return on equity of 16.96% and a net margin of 2.77%. The company’s revenue for the quarter was up 3.5% on a year-over-year basis. During the same quarter last year, the company posted $1.64 EPS. equities research analysts predict that CVS Health Corp will post 5.9 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Friday, November 3rd. Stockholders of record on Tuesday, October 24th were given a dividend of $0.50 per share. The ex-dividend date was Monday, October 23rd. This represents a $2.00 dividend on an annualized basis and a dividend yield of 2.66%. CVS Health’s dividend payout ratio (DPR) is presently 41.32%.
In other news, CFO David M. Denton sold 237,078 shares of CVS Health stock in a transaction dated Monday, September 11th. The stock was sold at an average price of $79.65, for a total transaction of $18,883,262.70. Following the completion of the sale, the chief financial officer now owns 141,096 shares in the company, valued at approximately $11,238,296.40. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, EVP Thomas M. Moriarty sold 90,267 shares of CVS Health stock in a transaction dated Monday, September 11th. The shares were sold at an average price of $79.61, for a total value of $7,186,155.87. Following the sale, the executive vice president now owns 70,102 shares of the company’s stock, valued at approximately $5,580,820.22. The disclosure for this sale can be found here. In the last quarter, insiders have sold 714,125 shares of company stock valued at $58,119,381. Corporate insiders own 0.61% of the company’s stock.
CVS Health 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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