CVS Health Corporation (CVS) Position Lowered by Public Employees Retirement System of Ohio

Public Employees Retirement System of Ohio decreased its position in shares of CVS Health Corporation (NYSE:CVS) by 0.6% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 760,909 shares of the pharmacy operator’s stock after selling 4,728 shares during the period. Public Employees Retirement System of Ohio owned 0.07% of CVS Health Corporation worth $59,731,000 as of its most recent filing with the SEC.

Several other hedge funds also recently made changes to their positions in the stock. Douglass Winthrop Advisors LLC increased its position in CVS Health Corporation by 16.8% in the first quarter. Douglass Winthrop Advisors LLC now owns 140,209 shares of the pharmacy operator’s stock worth $11,006,000 after buying an additional 20,155 shares during the last quarter. Creative Planning increased its position in CVS Health Corporation by 1.5% in the first quarter. Creative Planning now owns 90,927 shares of the pharmacy operator’s stock worth $7,138,000 after buying an additional 1,321 shares during the last quarter. S&CO Inc. increased its position in CVS Health Corporation by 2.1% in the first quarter. S&CO Inc. now owns 7,435 shares of the pharmacy operator’s stock worth $584,000 after buying an additional 150 shares during the last quarter. Raymond James Trust N.A. increased its position in CVS Health Corporation by 10.2% in the first quarter. Raymond James Trust N.A. now owns 124,748 shares of the pharmacy operator’s stock worth $9,793,000 after buying an additional 11,558 shares during the last quarter. Finally, Osborn Williams & Donohoe LLC increased its position in CVS Health Corporation by 2.2% in the first quarter. Osborn Williams & Donohoe LLC now owns 99,469 shares of the pharmacy operator’s stock worth $7,808,000 after buying an additional 2,158 shares during the last quarter. 82.31% of the stock is currently owned by hedge funds and other institutional investors.

Shares of CVS Health Corporation (CVS) traded up 1.01% during trading on Wednesday, reaching $79.91. 1,035,327 shares of the company’s stock were exchanged. CVS Health Corporation has a 12-month low of $69.30 and a 12-month high of $98.44. The company has a market capitalization of $81.23 billion, a P/E ratio of 15.92 and a beta of 0.91. The stock has a 50-day moving average price of $78.86 and a 200 day moving average price of $78.95.

CVS Health Corporation (NYSE:CVS) last issued its earnings results on Tuesday, August 8th. The pharmacy operator reported $1.33 earnings per share for the quarter, topping the consensus estimate of $1.31 by $0.02. CVS Health Corporation had a return on equity of 17.47% and a net margin of 2.93%. The business had revenue of $45.69 billion for the quarter, compared to analyst estimates of $45.36 billion. During the same quarter last year, the company earned $1.32 EPS. The business’s quarterly revenue was up 4.5% on a year-over-year basis. Equities analysts expect that CVS Health Corporation will post $5.88 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which was paid on Thursday, August 3rd. Stockholders of record on Monday, July 24th were given a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a dividend yield of 2.53%. The ex-dividend date was Thursday, July 20th. CVS Health Corporation’s dividend payout ratio (DPR) is presently 39.92%.

A number of research firms recently issued reports on CVS. Vetr downgraded shares of CVS Health Corporation from a “buy” rating to a “hold” rating and set a $85.78 price objective on the stock. in a report on Thursday, April 27th. Cowen and Company reissued an “outperform” rating and issued a $86.00 price objective on shares of CVS Health Corporation in a report on Tuesday, June 13th. BidaskClub raised shares of CVS Health Corporation from a “sell” rating to a “hold” rating in a report on Wednesday, August 2nd. Leerink Swann set a $90.00 price objective on shares of CVS Health Corporation and gave the stock a “buy” rating in a report on Tuesday, June 27th. Finally, Wolfe Research downgraded shares of CVS Health Corporation from an “outperform” rating to a “market perform” rating in a report on Monday. Eight research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. CVS Health Corporation presently has a consensus rating of “Buy” and a consensus target price of $92.04.

In other news, CFO David M. Denton sold 230,510 shares of the firm’s stock in a transaction dated 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 owns 176,983 shares of the company’s stock, valued at approximately $14,158,640. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Helena Foulkes sold 20,332 shares of the firm’s stock in a transaction dated Monday, June 19th. The stock was sold at an average price of $76.98, for a total value of $1,565,157.36. Following the sale, the executive vice president now directly owns 59,300 shares in the company, valued at approximately $4,564,914. 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 three months. Corporate 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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