Canal Capital Management LLC boosted its stake in shares of CVS Health Corporation (NYSE:CVS) by 36.7% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 17,241 shares of the pharmacy operator’s stock after buying an additional 4,632 shares during the period. Canal Capital Management LLC’s holdings in CVS Health Corporation were worth $1,387,000 as of its most recent filing with the SEC.
Several other hedge funds have also recently modified their holdings of CVS. Levin Capital Strategies L.P. increased its position in CVS Health Corporation by 6,358.6% in the fourth quarter. Levin Capital Strategies L.P. now owns 523,796 shares of the pharmacy operator’s stock worth $41,333,000 after buying an additional 515,686 shares during the period. Intellectus Partners LLC purchased a new position in CVS Health Corporation during the fourth quarter valued at approximately $917,000. SRS Capital Advisors Inc. purchased a new position in CVS Health Corporation during the fourth quarter valued at approximately $120,000. Pacific Global Investment Management CO boosted its position in CVS Health Corporation by 9.2% in the fourth quarter. Pacific Global Investment Management CO now owns 6,150 shares of the pharmacy operator’s stock valued at $485,000 after buying an additional 517 shares in the last quarter. Finally, Southpoint Capital Advisors LP purchased a new position in CVS Health Corporation during the fourth quarter valued at approximately $31,564,000. Institutional investors own 82.05% of the company’s stock.
CVS Health Corporation (CVS) traded down 0.2130% during trading on Thursday, reaching $79.5801. 835,332 shares of the company were exchanged. CVS Health Corporation has a 1-year low of $69.30 and a 1-year high of $98.44. The stock has a market capitalization of $81.08 billion, a P/E ratio of 16.5965 and a beta of 0.91. The company’s 50-day moving average price is $78.75 and its 200-day moving average price is $79.09.
CVS Health Corporation (NYSE:CVS) last issued its earnings results on Tuesday, May 2nd. The pharmacy operator reported $1.17 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.10 by $0.07. The firm had revenue of $44.51 billion for the quarter, compared to analysts’ expectations of $44.20 billion. CVS Health Corporation had a net margin of 2.86% and a return on equity of 17.56%. The firm’s revenue was up 3.0% compared to the same quarter last year. During the same quarter last year, the company earned $1.18 earnings per share. On average, equities analysts forecast that CVS Health Corporation will post $5.87 EPS for the current year.
The business also recently disclosed 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 is Thursday, July 20th. This represents a $2.00 dividend on an annualized basis and a yield of 2.51%. CVS Health Corporation’s payout ratio is currently 41.67%.
A number of equities research analysts recently commented on the stock. BidaskClub raised shares of CVS Health Corporation from a “sell” rating to a “hold” rating in a report on Wednesday. Vetr cut shares of CVS Health Corporation from a “buy” rating to a “hold” rating and set a $85.78 price target on the stock. in a report on Thursday, April 27th. Cowen and Company reiterated an “outperform” rating and issued a $86.00 price objective on shares of CVS Health Corporation in a research note on Tuesday, June 13th. Leerink Swann set a $90.00 price objective on shares of CVS Health Corporation and gave the company a “buy” rating in a research note on Tuesday, June 27th. Finally, Needham & Company LLC started coverage on shares of CVS Health Corporation in a research note on Tuesday, June 27th. They issued a “hold” rating for the company. Ten equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. The company has an average rating of “Buy” and an average target price of $93.67.
In other CVS Health Corporation news, EVP Helena Foulkes sold 20,333 shares of the firm’s stock in a transaction that occurred on Monday, June 26th. The shares were sold at an average price of $80.00, for a total transaction of $1,626,640.00. Following the sale, the executive vice president now owns 59,301 shares of the company’s stock, valued at $4,744,080. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO David M. Denton sold 230,510 shares of the firm’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 transaction of $18,440,800.00. Following the sale, the chief financial officer now directly owns 176,983 shares in the company, valued at approximately $14,158,640. The disclosure for this sale can be found here. In the last three months, insiders have sold 271,175 shares of company stock worth $21,632,597. 0.61% of the stock is owned by corporate insiders.
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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