Victory Capital Management Inc. trimmed its holdings in shares of CVS Health Corp (NYSE:CVS) by 35.6% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 284,758 shares of the pharmacy operator’s stock after selling 157,570 shares during the period. Victory Capital Management Inc.’s holdings in CVS Health were worth $20,645,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other hedge funds and other institutional investors have also made changes to their positions in CVS. Beach Investment Management LLC. purchased a new stake in CVS Health during the 2nd quarter worth about $2,224,000. Chilton Investment Co. LLC lifted its holdings in CVS Health by 4.7% during the 2nd quarter. Chilton Investment Co. LLC now owns 3,552 shares of the pharmacy operator’s stock worth $286,000 after buying an additional 161 shares during the last quarter. Flagship Harbor Advisors LLC lifted its holdings in CVS Health by 5.9% during the 2nd quarter. Flagship Harbor Advisors LLC now owns 15,095 shares of the pharmacy operator’s stock worth $1,180,000 after buying an additional 847 shares during the last quarter. Matrix Asset Advisors Inc. NY lifted its holdings in CVS Health by 5.6% during the 2nd quarter. Matrix Asset Advisors Inc. NY now owns 266,252 shares of the pharmacy operator’s stock worth $21,423,000 after buying an additional 14,070 shares during the last quarter. Finally, Seizert Capital Partners LLC lifted its holdings in CVS Health by 3.0% during the 2nd quarter. Seizert Capital Partners LLC now owns 556,649 shares of the pharmacy operator’s stock worth $44,788,000 after buying an additional 16,177 shares during the last quarter. 84.12% of the stock is owned by institutional investors.
A number of brokerages have issued reports on CVS. Bank of America began coverage on CVS Health in a report on Tuesday, February 27th. They set a “buy” rating and a $91.00 price target for the company. Citigroup set a $77.00 price target on CVS Health and gave the stock a “neutral” rating in a report on Tuesday, February 13th. Leerink Swann set a $85.00 price target on CVS Health and gave the stock a “buy” rating in a report on Friday, February 9th. Robert W. Baird reduced their target price on CVS Health from $85.00 to $80.00 and set a “neutral” rating for the company in a report on Friday, February 9th. Finally, Royal Bank of Canada set a $89.00 target price on CVS Health and gave the company a “buy” rating in a report on Thursday, February 8th. Two 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 has an average rating of “Buy” and a consensus price target of $87.03.
CVS Health Corp (CVS) opened at $65.65 on Friday. The stock has a market capitalization of $66,817.08, a PE ratio of 10.15, a P/E/G ratio of 1.09 and a beta of 1.03. CVS Health Corp has a 52-week low of $65.65 and a 52-week high of $84.00. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.02 and a quick ratio of 0.52.
CVS Health (NYSE:CVS) last issued its quarterly earnings results on Thursday, February 8th. The pharmacy operator reported $1.92 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.88 by $0.04. The firm had revenue of $48.39 billion for the quarter, compared to analysts’ expectations of $47.54 billion. CVS Health had a return on equity of 17.21% and a net margin of 3.58%. The firm’s revenue for the quarter was up 5.3% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.71 EPS. equities analysts expect that CVS Health Corp will post 6.37 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Thursday, May 3rd. Investors of record on Monday, April 23rd will be given a $0.50 dividend. This represents a $2.00 annualized dividend and a yield of 3.05%. The ex-dividend date of this dividend is Friday, April 20th. CVS Health’s dividend payout ratio (DPR) is presently 30.91%.
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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