Pathstone Family Office LLC Has $2.35 Million Stake in CVS Health Corp (CVS)
Pathstone Family Office LLC raised its stake in shares of CVS Health Corp (NYSE:CVS) by 341.0% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,270 shares of the pharmacy operator’s stock after buying an additional 982 shares during the quarter. Pathstone Family Office LLC’s holdings in CVS Health were worth $2,353,000 at the end of the most recent reporting period.
Other institutional investors also recently bought and sold shares of the company. Eagle Asset Management Inc. boosted its position in CVS Health by 0.8% during the 1st quarter. Eagle Asset Management Inc. now owns 24,031 shares of the pharmacy operator’s stock worth $1,886,000 after acquiring an additional 179 shares during the last quarter. Sawtooth Solutions LLC boosted its position in CVS Health by 112.9% during the 1st quarter. Sawtooth Solutions LLC now owns 18,943 shares of the pharmacy operator’s stock worth $1,487,000 after acquiring an additional 10,047 shares during the last quarter. Pioneer Investment Management Inc. boosted its position in CVS Health by 4.6% during the 1st quarter. Pioneer Investment Management Inc. now owns 8,033,087 shares of the pharmacy operator’s stock worth $630,598,000 after acquiring an additional 353,621 shares during the last quarter. CIBC World Markets Inc. boosted its position in CVS Health by 46.7% during the 1st quarter. CIBC World Markets Inc. now owns 209,999 shares of the pharmacy operator’s stock worth $16,485,000 after acquiring an additional 66,849 shares during the last quarter. Finally, Blue Chip Partners Inc. acquired a new position in CVS Health during the 1st quarter worth approximately $236,000. Institutional investors own 82.60% of the company’s stock.
A number of equities research analysts have recently issued reports on the company. Royal Bank Of Canada assumed coverage on CVS Health in a research note on Tuesday, September 19th. They set an “outperform” rating and a $95.00 price objective on the stock. Jefferies Group upped their price objective on CVS Health from $82.00 to $86.00 and gave the stock a “hold” rating in a research note on Friday, September 15th. Needham & Company LLC reiterated a “hold” rating on shares of CVS Health in a research note on Sunday, September 10th. Wolfe Research cut CVS Health from an “outperform” rating to a “market perform” rating and dropped their price objective for the stock from $89.00 to $82.00 in a research note on Monday, August 14th. Finally, Robert W. Baird reiterated an “outperform” rating and set a $90.00 price objective on shares of CVS Health in a research note on Monday, August 14th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and fourteen have given a buy rating to the company’s stock. CVS Health has an average rating of “Buy” and a consensus price target of $85.82.
In other news, CFO David M. Denton sold 237,078 shares of the stock in a transaction on 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 sale, the chief financial officer now directly owns 141,096 shares of the company’s stock, valued at approximately $11,238,296.40. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, EVP Thomas M. Moriarty sold 20,547 shares of the stock in a transaction on Monday, October 2nd. The stock was sold at an average price of $81.17, for a total value of $1,667,799.99. Following the sale, the executive vice president now directly owns 43,178 shares in the company, valued at $3,504,758.26. The disclosure for this sale can be found here. Over the last three months, insiders have sold 714,125 shares of company stock worth $58,119,381. 0.61% of the stock is currently owned by insiders.
CVS Health Corp (NYSE CVS) opened at $75.12 on Friday. 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 Corp has a 1-year low of $66.45 and a 1-year high of $84.72. The company has a market capitalization of $77,587.89, a price-to-earnings ratio of 13.41, a price-to-earnings-growth ratio of 1.31 and a beta of 0.89.
CVS Health (NYSE:CVS) last issued its quarterly earnings data on Monday, November 6th. The pharmacy operator reported $1.50 EPS for the quarter, beating analysts’ consensus estimates of $1.49 by $0.01. CVS Health had a return on equity of 16.96% and a net margin of 2.77%. The firm had revenue of $46.18 billion for the quarter, compared to analyst estimates of $46.17 billion. During the same period in the prior year, the firm posted $1.64 EPS. The company’s revenue for the quarter was up 3.5% on a year-over-year basis. equities research analysts predict that CVS Health Corp will post 5.9 earnings per share for the current year.
The business also recently announced a quarterly dividend, which was paid on Friday, November 3rd. Stockholders of record on Tuesday, October 24th were issued a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a dividend yield of 2.66%. The ex-dividend date of this dividend was Monday, October 23rd. CVS Health’s dividend payout ratio (DPR) is currently 41.32%.
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CVS Health 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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