Mathes Company Inc. cut its stake in shares of CVS Health Corporation (NYSE:CVS) by 44.0% during the second quarter, according to its most recent filing with the SEC. The institutional investor owned 6,009 shares of the pharmacy operator’s stock after selling 4,725 shares during the period. Mathes Company Inc.’s holdings in CVS Health Corporation were worth $483,000 as of its most recent SEC filing.
A number of other hedge funds also recently added to or reduced their stakes in CVS. Mercer Capital Advisers Inc. acquired a new stake in shares of CVS Health Corporation during the first quarter worth approximately $118,000. SRS Capital Advisors Inc. acquired a new stake in shares of CVS Health Corporation during the fourth quarter worth approximately $120,000. Gemmer Asset Management LLC boosted its stake in shares of CVS Health Corporation by 15.3% in the second quarter. Gemmer Asset Management LLC now owns 1,509 shares of the pharmacy operator’s stock worth $121,000 after buying an additional 200 shares during the period. D Orazio & Associates Inc. boosted its stake in shares of CVS Health Corporation by 34.5% in the fourth quarter. D Orazio & Associates Inc. now owns 1,560 shares of the pharmacy operator’s stock worth $123,000 after buying an additional 400 shares during the period. Finally, Sowell Financial Services LLC acquired a new stake in shares of CVS Health Corporation during the fourth quarter worth approximately $140,000. Institutional investors and hedge funds own 82.09% of the company’s stock.
Shares of CVS Health Corporation (NYSE CVS) traded up 1.05% on Friday, hitting $79.75. The company had a trading volume of 3,974,427 shares. The company has a market capitalization of $81.25 billion, a price-to-earnings ratio of 16.63 and a beta of 0.91. CVS Health Corporation has a 52 week low of $69.30 and a 52 week high of $98.66. The stock’s 50-day moving average is $78.74 and its 200 day moving average is $79.18.
CVS Health Corporation (NYSE:CVS) last announced its quarterly earnings results on Tuesday, May 2nd. The pharmacy operator reported $1.17 earnings per share for the quarter, beating the consensus estimate of $1.10 by $0.07. The company had revenue of $44.51 billion during the quarter, compared to analysts’ expectations of $44.20 billion. CVS Health Corporation had a return on equity of 17.56% and a net margin of 2.86%. CVS Health Corporation’s quarterly revenue was up 3.0% on a year-over-year basis. During the same period last year, the business earned $1.18 earnings per share. Equities analysts expect that CVS Health Corporation will post $5.87 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, August 3rd. Stockholders of record on Monday, July 24th will be given a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a dividend yield of 2.51%. The ex-dividend date is Thursday, July 20th. CVS Health Corporation’s dividend payout ratio (DPR) is presently 41.67%.
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A number of analysts have recently commented on the stock. BidaskClub cut shares of CVS Health Corporation from a “hold” rating to a “sell” rating in a report on Monday, July 24th. Jefferies Group LLC reiterated a “hold” rating and issued a $82.00 price target on shares of CVS Health Corporation in a research note on Friday, July 14th. Guggenheim reiterated a “buy” rating on shares of CVS Health Corporation in a research note on Monday, July 3rd. Needham & Company LLC began coverage on shares of CVS Health Corporation in a research note on Tuesday, June 27th. They issued a “hold” rating on the stock. Finally, Leerink Swann set a $90.00 price target on shares of CVS Health Corporation and gave the stock a “buy” rating in a research note on Tuesday, June 27th. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and fourteen have issued a buy rating to the company. The company currently has an average rating of “Buy” and an average target price of $93.67.
In other news, CFO David M. Denton sold 230,510 shares of CVS Health Corporation stock in a transaction that occurred on Monday, June 12th. The stock was sold at an average price of $80.00, for a total value of $18,440,800.00. Following the sale, the chief financial officer now directly owns 176,983 shares of the company’s stock, valued at $14,158,640. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Helena Foulkes sold 20,333 shares of CVS Health Corporation stock in a transaction that occurred on Monday, June 26th. The stock was sold at an average price of $80.00, for a total value of $1,626,640.00. Following the completion of the sale, the executive vice president now directly owns 59,301 shares in the company, valued at $4,744,080. The disclosure for this sale can be found here. Insiders sold 271,175 shares of company stock valued at $21,632,597 over the last 90 days. Company insiders own 0.61% of the company’s stock.
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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