Pictet & Cie Europe SA lessened its holdings in shares of CVS Health Corporation (NYSE:CVS) by 3.2% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 35,600 shares of the pharmacy operator’s stock after selling 1,160 shares during the period. Pictet & Cie Europe SA’s holdings in CVS Health Corporation were worth $2,864,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also modified their holdings of the company. Boston Partners raised its stake in CVS Health Corporation by 69.1% in the 2nd quarter. Boston Partners now owns 6,459,237 shares of the pharmacy operator’s stock worth $519,711,000 after acquiring an additional 2,638,888 shares during the last quarter. Prudential Financial Inc. raised its stake in CVS Health Corporation by 61.8% in the 2nd quarter. Prudential Financial Inc. now owns 2,946,531 shares of the pharmacy operator’s stock worth $237,078,000 after acquiring an additional 1,125,400 shares during the last quarter. Canada Pension Plan Investment Board raised its stake in CVS Health Corporation by 89.8% in the 2nd quarter. Canada Pension Plan Investment Board now owns 1,851,099 shares of the pharmacy operator’s stock worth $148,939,000 after acquiring an additional 876,027 shares during the last quarter. Veritas Asset Management LLP raised its stake in CVS Health Corporation by 11.4% in the 2nd quarter. Veritas Asset Management LLP now owns 8,438,564 shares of the pharmacy operator’s stock worth $678,967,000 after acquiring an additional 865,756 shares during the last quarter. Finally, NN Investment Partners Holdings N.V. raised its stake in CVS Health Corporation by 141.2% in the 2nd quarter. NN Investment Partners Holdings N.V. now owns 1,427,210 shares of the pharmacy operator’s stock worth $114,832,000 after acquiring an additional 835,476 shares during the last quarter. Hedge funds and other institutional investors own 82.04% of the company’s stock.
In other CVS Health Corporation news, EVP Thomas M. Moriarty sold 20,547 shares of the business’s stock in a transaction on Monday, October 2nd. The shares were sold at an average price of $81.17, for a total value of $1,667,799.99. Following the completion of the transaction, the executive vice president now owns 43,178 shares in the company, valued at $3,504,758.26. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP Thomas M. Moriarty sold 90,267 shares of the business’s stock in a transaction on Monday, September 11th. The stock was sold at an average price of $79.61, for a total transaction of $7,186,155.87. Following the completion of the transaction, 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 90 days, insiders sold 714,125 shares of company stock valued at $58,119,381. Insiders own 0.61% of the company’s stock.
Shares of CVS Health Corporation (NYSE:CVS) opened at $70.44 on Wednesday. CVS Health Corporation has a 1-year low of $66.45 and a 1-year high of $84.72. The company has a debt-to-equity ratio of 0.67, a current ratio of 1.05 and a quick ratio of 0.55. The firm has a market cap of $72,408.67, a P/E ratio of 12.52, a P/E/G ratio of 1.23 and a beta of 0.86.
CVS Health Corporation (NYSE:CVS) last posted its earnings results on Monday, November 6th. The pharmacy operator reported $1.50 earnings per share for the quarter, beating the Thomson Reuters’ 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 during the quarter, compared to the consensus estimate of $46.17 billion. During the same quarter last year, the firm earned $1.64 EPS. The firm’s revenue for the quarter was up 3.5% on a year-over-year basis. equities analysts expect that CVS Health Corporation will post 5.89 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Friday, November 3rd. Shareholders of record on Tuesday, October 24th were paid a $0.50 dividend. The ex-dividend date was Monday, October 23rd. This represents a $2.00 annualized dividend and a dividend yield of 2.84%. CVS Health Corporation’s dividend payout ratio (DPR) is 41.32%.
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Several equities research analysts have weighed in on CVS shares. Royal Bank Of Canada started coverage on CVS Health Corporation in a research report on Tuesday, September 19th. They set an “outperform” rating and a $95.00 price target on the stock. Jefferies Group LLC increased their price target on CVS Health Corporation from $82.00 to $86.00 and gave the stock a “hold” rating in a research report on Friday, September 15th. BidaskClub raised CVS Health Corporation from a “sell” rating to a “hold” rating in a research report on Wednesday, August 2nd. Needham & Company LLC reaffirmed a “hold” rating on shares of CVS Health Corporation in a research report on Sunday, September 10th. Finally, Wolfe Research downgraded CVS Health Corporation from an “outperform” rating to a “market perform” rating and cut their price target for the stock from $89.00 to $82.00 in a research report on Monday, August 14th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and fourteen have issued a buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $85.82.
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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