CVS Health Corp (CVS) Position Lessened by Piedmont Investment Advisors LLC

Piedmont Investment Advisors LLC decreased its position in shares of CVS Health Corp (NYSE:CVS) by 3.5% during the 3rd quarter, according to its most recent disclosure with the SEC. The firm owned 284,891 shares of the pharmacy operator’s stock after selling 10,266 shares during the period. Piedmont Investment Advisors LLC’s holdings in CVS Health were worth $23,167,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently made changes to their positions in CVS. Beach Investment Management LLC. purchased a new position in shares of CVS Health during the second quarter valued at approximately $2,224,000. Mengis Capital Management Inc. lifted its stake in shares of CVS Health by 0.7% during the second quarter. Mengis Capital Management Inc. now owns 11,415 shares of the pharmacy operator’s stock valued at $918,000 after buying an additional 75 shares during the period. St. James Investment Company LLC lifted its stake in shares of CVS Health by 6.0% during the second quarter. St. James Investment Company LLC now owns 870,302 shares of the pharmacy operator’s stock valued at $70,024,000 after buying an additional 49,242 shares during the period. Canada Pension Plan Investment Board lifted its stake in shares of CVS Health by 89.8% during the second quarter. Canada Pension Plan Investment Board now owns 1,851,099 shares of the pharmacy operator’s stock valued at $148,939,000 after buying an additional 876,027 shares during the period. Finally, Wetherby Asset Management Inc. lifted its stake in shares of CVS Health by 0.6% during the second quarter. Wetherby Asset Management Inc. now owns 24,899 shares of the pharmacy operator’s stock valued at $2,003,000 after buying an additional 158 shares during the period. 81.69% of the stock is currently owned by institutional investors and hedge funds.

A number of equities analysts have weighed in on CVS shares. Needham & Company LLC increased their price target on shares of CVS Health from $79.00 to $85.00 and gave the stock a “buy” rating in a research note on Monday, December 4th. Deutsche Bank started coverage on shares of CVS Health in a research note on Monday, December 4th. They set a “buy” rating and a $90.00 price target on the stock. Mizuho set a $90.00 price target on shares of CVS Health and gave the stock a “buy” rating in a research note on Tuesday, October 24th. Cowen set a $86.00 price target on shares of CVS Health and gave the stock a “buy” rating in a research note on Sunday, October 29th. Finally, Leerink Swann set a $85.00 price target on shares of CVS Health and gave the stock a “buy” rating in a research note on Monday, December 4th. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating, twelve have issued a buy rating and two have assigned a strong buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $87.77.

In related news, EVP Lisa Bisaccia sold 29,445 shares of the firm’s stock in a transaction on Thursday, December 21st. The shares were sold at an average price of $75.00, for a total transaction of $2,208,375.00. Following the completion of the sale, the executive vice president now directly owns 15,556 shares of the company’s stock, valued at approximately $1,166,700. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 0.61% of the stock is currently owned by company insiders.

Shares of CVS Health Corp (CVS) opened at $69.39 on Friday. CVS Health Corp has a 52-week low of $66.45 and a 52-week high of $84.00. The stock has a market cap of $70,291.52, a price-to-earnings ratio of 10.72, a PEG ratio of 1.16 and a beta of 0.93. The company has a quick ratio of 0.55, a current ratio of 1.02 and a debt-to-equity ratio of 0.59.

CVS Health (NYSE:CVS) last released its quarterly earnings data on Thursday, February 8th. The pharmacy operator reported $1.92 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.88 by $0.04. CVS Health had a net margin of 3.58% and a return on equity of 17.21%. The company had revenue of $48.39 billion during the quarter, compared to analyst estimates of $47.54 billion. During the same quarter in the prior year, the business earned $1.71 earnings per share. The business’s quarterly revenue was up 5.3% compared to the same quarter last year. research analysts forecast that CVS Health Corp will post 6.47 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which was paid on Friday, February 2nd. Investors of record on Wednesday, January 24th were issued a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a yield of 2.88%. The ex-dividend date of this dividend was Tuesday, January 23rd. CVS Health’s payout ratio is 30.91%.

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CVS Health 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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Institutional Ownership by Quarter for CVS Health (NYSE:CVS)

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