Legacy Advisors LLC cut its position in shares of CVS Health Corp (NYSE:CVS) by 11.9% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 7,848 shares of the pharmacy operator’s stock after selling 1,058 shares during the quarter. Legacy Advisors LLC’s holdings in CVS Health were worth $428,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Bay Harbor Wealth Management LLC lifted its holdings in CVS Health by 1,871.4% in the first quarter. Bay Harbor Wealth Management LLC now owns 552 shares of the pharmacy operator’s stock worth $30,000 after purchasing an additional 524 shares during the period. Centaurus Financial Inc. lifted its holdings in CVS Health by 570.8% in the 1st quarter. Centaurus Financial Inc. now owns 1,630 shares of the pharmacy operator’s stock valued at $30,000 after acquiring an additional 1,387 shares during the last quarter. C J Advisory Inc acquired a new stake in CVS Health in the 1st quarter valued at about $33,000. Murphy Pohlad Asset Management LLC acquired a new stake in CVS Health in the 4th quarter valued at about $39,000. Finally, Somerset Trust Co lifted its holdings in CVS Health by 152.7% in the 1st quarter. Somerset Trust Co now owns 758 shares of the pharmacy operator’s stock valued at $41,000 after acquiring an additional 458 shares during the last quarter. Institutional investors and hedge funds own 77.18% of the company’s stock.
A number of equities research analysts have weighed in on the stock. Raymond James cut their price target on shares of CVS Health from $90.00 to $75.00 and set a “strong-buy” rating for the company in a report on Thursday, April 18th. UBS Group reduced their price objective on shares of CVS Health from $74.00 to $67.00 and set a “sell” rating for the company in a research note on Thursday, May 2nd. Cantor Fitzgerald reaffirmed a “buy” rating and set a $80.00 price objective on shares of CVS Health in a research note on Wednesday, May 1st. Standpoint Research upgraded CVS Health from a “hold” rating to a “buy” rating in a report on Wednesday, June 5th. Finally, Morgan Stanley reiterated a “buy” rating and issued a $74.00 target price on shares of CVS Health in a report on Sunday, August 11th. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating, sixteen have given a buy rating and one has issued a strong buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus target price of $75.14.
Shares of CVS stock opened at $58.84 on Friday. The company has a quick ratio of 0.64, a current ratio of 0.95 and a debt-to-equity ratio of 1.39. The firm has a market cap of $77.83 billion, a price-to-earnings ratio of 8.31, a PEG ratio of 1.31 and a beta of 0.90. CVS Health Corp has a 12 month low of $51.72 and a 12 month high of $82.15. The stock has a 50-day moving average price of $56.32 and a 200 day moving average price of $56.32.
CVS Health (NYSE:CVS) last posted its earnings results on Wednesday, August 7th. The pharmacy operator reported $1.89 earnings per share for the quarter, topping analysts’ consensus estimates of $1.70 by $0.19. The business had revenue of $63.43 billion for the quarter, compared to analyst estimates of $62.66 billion. CVS Health had a return on equity of 16.15% and a net margin of 1.91%. The firm’s revenue was up 35.2% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.69 EPS. Sell-side analysts predict that CVS Health Corp will post 6.96 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Friday, August 2nd. Investors of record on Thursday, July 25th were paid a $0.50 dividend. The ex-dividend date of this dividend was Wednesday, July 24th. This represents a $2.00 annualized dividend and a yield of 3.40%. CVS Health’s dividend payout ratio (DPR) is presently 28.25%.
CVS Health Profile
CVS Health Corporation provides health services and plans in the United States. Its Pharmacy Services segment offers pharmacy benefit management solutions, such as plan design and administration, formulary management, retail pharmacy network management, mail order pharmacy, specialty pharmacy and infusion, Medicare Part D, clinical, disease management, and medical spend management services.
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