Wagner Bowman Management Corp lessened its holdings in CVS Health Corp (NYSE:CVS) by 11.4% during the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 15,488 shares of the pharmacy operator’s stock after selling 1,999 shares during the quarter. Wagner Bowman Management Corp’s holdings in CVS Health were worth $843,000 as of its most recent SEC filing.
Several other hedge funds have also modified their holdings of CVS. FMR LLC raised its position in CVS Health by 30.6% during the 4th quarter. FMR LLC now owns 39,263,265 shares of the pharmacy operator’s stock worth $2,572,528,000 after purchasing an additional 9,194,005 shares during the last quarter. Geode Capital Management LLC raised its position in CVS Health by 36.2% during the 4th quarter. Geode Capital Management LLC now owns 16,462,292 shares of the pharmacy operator’s stock worth $1,076,697,000 after purchasing an additional 4,376,604 shares during the last quarter. Dimensional Fund Advisors LP raised its position in CVS Health by 28.3% during the 4th quarter. Dimensional Fund Advisors LP now owns 13,790,753 shares of the pharmacy operator’s stock worth $903,574,000 after purchasing an additional 3,041,266 shares during the last quarter. Norges Bank bought a new position in CVS Health during the 4th quarter worth $840,254,000. Finally, Nordea Investment Management AB raised its position in CVS Health by 2.8% during the 1st quarter. Nordea Investment Management AB now owns 12,426,745 shares of the pharmacy operator’s stock worth $670,172,000 after purchasing an additional 340,315 shares during the last quarter. 77.18% of the stock is currently owned by hedge funds and other institutional investors.
CVS has been the subject of several analyst reports. Evercore ISI set a $63.00 target price on CVS Health and gave the stock a “buy” rating in a research report on Wednesday, August 7th. Standpoint Research raised CVS Health from a “hold” rating to a “buy” rating in a research report on Wednesday, June 5th. Citigroup lifted their price objective on CVS Health from $68.00 to $72.00 and gave the stock a “buy” rating in a research report on Thursday, August 8th. Mizuho set a $71.00 price objective on CVS Health and gave the stock a “buy” rating in a research report on Wednesday, June 5th. Finally, Guggenheim started coverage on CVS Health in a research report on Thursday, April 18th. They issued a “buy” rating and a $75.00 price objective for the company. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating, sixteen have assigned a buy rating and one has given a strong buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus target price of $75.14.
CVS Health (NYSE:CVS) last released its quarterly earnings results on Wednesday, August 7th. The pharmacy operator reported $1.89 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.70 by $0.19. CVS Health had a return on equity of 16.15% and a net margin of 1.91%. The business had revenue of $63.43 billion during the quarter, compared to the consensus estimate of $62.66 billion. During the same quarter in the previous year, the business earned $1.69 EPS. The company’s quarterly revenue was up 35.2% on a year-over-year basis. On average, analysts anticipate that CVS Health Corp will post 6.96 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Friday, August 2nd. Stockholders of record on Thursday, July 25th were paid a $0.50 dividend. The ex-dividend date was Wednesday, July 24th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 3.32%. CVS Health’s payout ratio 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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