Commonwealth of Pennsylvania Public School Empls Retrmt SYS boosted its position in CVS Health Corporation (NYSE:CVS) by 24.5% during the first quarter, Holdings Channel reports. The fund owned 76,085 shares of the pharmacy operator’s stock after buying an additional 14,952 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS’s holdings in CVS Health Corporation were worth $5,973,000 at the end of the most recent quarter.
Other institutional investors have also recently modified their holdings of the company. Mercer Capital Advisers Inc. purchased a new position in shares of CVS Health Corporation during the first quarter worth about $118,000. Sowell Financial Services LLC purchased a new position in shares of CVS Health Corporation during the fourth quarter worth about $140,000. Patriot Financial Group Insurance Agency LLC purchased a new position in shares of CVS Health Corporation during the fourth quarter worth about $156,000. Orrstown Financial Services Inc. boosted its stake in shares of CVS Health Corporation by 2,000.0% in the first quarter. Orrstown Financial Services Inc. now owns 2,100 shares of the pharmacy operator’s stock valued at $165,000 after buying an additional 2,000 shares during the last quarter. Finally, Edmp Inc. bought a new stake in shares of CVS Health Corporation during the first quarter valued at $202,000. 82.05% of the stock is owned by institutional investors and hedge funds.
CVS Health Corporation (NYSE:CVS) opened at 79.75 on Monday. The firm has a 50-day moving average price of $78.74 and a 200 day moving average price of $79.18. The company has a market cap of $81.25 billion, a price-to-earnings ratio of 16.63 and a beta of 0.91. CVS Health Corporation has a one year low of $69.30 and a one year high of $98.66.
CVS Health Corporation (NYSE:CVS) last posted its earnings results on Tuesday, May 2nd. The pharmacy operator reported $1.17 earnings per share for the quarter, topping analysts’ consensus estimates of $1.10 by $0.07. CVS Health Corporation had a return on equity of 17.56% and a net margin of 2.86%. The firm had revenue of $44.51 billion for the quarter, compared to the consensus estimate of $44.20 billion. During the same quarter in the prior year, the business earned $1.18 EPS. The business’s revenue for the quarter was up 3.0% on a year-over-year basis. Equities analysts expect that CVS Health Corporation will post $5.87 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Thursday, August 3rd. Shareholders of record on Monday, July 24th will be issued a dividend of $0.50 per share. The ex-dividend date of this dividend is Thursday, July 20th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 2.51%. CVS Health Corporation’s dividend payout ratio (DPR) is 41.67%.
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Several brokerages have recently weighed in on CVS. UBS AG reissued a “buy” rating and issued a $88.00 price target (down previously from $89.00) on shares of CVS Health Corporation in a research note on Tuesday, April 4th. Vetr cut CVS Health Corporation from a “buy” rating to a “hold” rating and set a $85.78 price target for the company. in a research note on Thursday, April 27th. Cowen and Company reissued an “outperform” rating and issued a $86.00 price target on shares of CVS Health Corporation in a research note on Tuesday, June 13th. Leerink Swann set a $90.00 price target on CVS Health Corporation and gave the company a “buy” rating in a research note on Tuesday, June 27th. Finally, Needham & Company LLC began coverage on CVS Health Corporation in a research note on Tuesday, June 27th. They issued a “hold” rating for the company. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and fourteen have assigned a buy rating to the company. CVS Health Corporation currently has a consensus rating of “Buy” and a consensus price target of $93.67.
In other CVS Health Corporation news, EVP Helena Foulkes sold 20,333 shares of the company’s stock in a transaction that occurred on Monday, June 26th. The stock was sold at an average price of $80.00, for a total transaction of $1,626,640.00. Following the transaction, the executive vice president now owns 59,301 shares in the company, valued at approximately $4,744,080. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO David M. Denton sold 230,510 shares of the company’s 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 transaction, the chief financial officer now owns 176,983 shares in the company, valued at approximately $14,158,640. The disclosure for this sale can be found here. Insiders have sold a total of 271,175 shares of company stock worth $21,632,597 in the last quarter. Company insiders own 0.61% of the company’s stock.
CVS Health Corporation 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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