Proficio Capital Partners LLC Raises Position in CVS Health Corporation (CVS)

Proficio Capital Partners LLC boosted its stake in shares of CVS Health Corporation (NYSE:CVS) by 55.7% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 13,235 shares of the pharmacy operator’s stock after buying an additional 4,737 shares during the period. Proficio Capital Partners LLC’s holdings in CVS Health Corporation were worth $1,011,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of CVS. Bank of America Corp DE increased its stake in shares of CVS Health Corporation by 1.8% in the first quarter. Bank of America Corp DE now owns 22,411,957 shares of the pharmacy operator’s stock valued at $1,759,338,000 after buying an additional 398,999 shares in the last quarter. Macquarie Group Ltd. increased its stake in shares of CVS Health Corporation by 2.4% in the first quarter. Macquarie Group Ltd. now owns 9,752,261 shares of the pharmacy operator’s stock valued at $765,534,000 after buying an additional 225,981 shares in the last quarter. Pioneer Investment Management Inc. increased its stake in shares of CVS Health Corporation by 4.6% in the first quarter. Pioneer Investment Management Inc. now owns 8,033,087 shares of the pharmacy operator’s stock valued at $630,598,000 after buying an additional 353,621 shares in the last quarter. Parnassus Investments CA increased its stake in shares of CVS Health Corporation by 2.9% in the first quarter. Parnassus Investments CA now owns 6,237,016 shares of the pharmacy operator’s stock valued at $473,605,000 after buying an additional 175,695 shares in the last quarter. Finally, Legal & General Group Plc increased its stake in shares of CVS Health Corporation by 5.3% in the first quarter. Legal & General Group Plc now owns 5,305,671 shares of the pharmacy operator’s stock valued at $416,484,000 after buying an additional 268,160 shares in the last quarter. 82.31% of the stock is currently owned by institutional investors.

CVS Health Corporation (CVS) traded up 1.02% during trading on Wednesday, hitting $79.92. The stock had a trading volume of 1,036,029 shares. The firm’s 50 day moving average is $78.86 and its 200 day moving average is $78.95. CVS Health Corporation has a 1-year low of $69.30 and a 1-year high of $98.44. The firm has a market cap of $81.24 billion, a price-to-earnings ratio of 15.92 and a beta of 0.91.

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

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

CVS has been the topic of several recent research reports. Leerink Swann set a $90.00 price objective on CVS Health Corporation and gave the company a “buy” rating in a research report on Tuesday, June 27th. Vetr downgraded CVS Health Corporation from a “strong-buy” rating to a “buy” rating and set a $88.97 price objective on the stock. in a research report on Monday, June 12th. Tigress Financial initiated coverage on CVS Health Corporation in a research report on Thursday, April 27th. They issued a “buy” rating on the stock. Guggenheim restated a “buy” rating on shares of CVS Health Corporation in a research report on Monday, July 3rd. Finally, ValuEngine downgraded CVS Health Corporation from a “buy” rating to a “hold” rating in a research report on Friday, June 2nd. Eight research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average price target of $92.04.

In related news, CFO David M. Denton sold 230,510 shares of CVS Health Corporation stock in a transaction 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 completion of the sale, the chief financial officer now owns 176,983 shares of the company’s stock, valued at $14,158,640. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, EVP Helena Foulkes sold 20,333 shares of CVS Health Corporation stock in a transaction on Monday, June 26th. The shares were sold at an average price of $80.00, for a total value of $1,626,640.00. Following the sale, the executive vice president now directly owns 59,301 shares of the company’s stock, valued at approximately $4,744,080. The disclosure for this sale can be found here. In the last three months, insiders have sold 271,175 shares of company stock valued at $21,632,597. 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.