50,898 Shares in CVS Health Corporation (CVS) Acquired by Oxford Asset Management
Oxford Asset Management bought a new position in shares of CVS Health Corporation (NYSE:CVS) during the first quarter, according to its most recent disclosure with the SEC. The institutional investor bought 50,898 shares of the pharmacy operator’s stock, valued at approximately $3,995,000.
Several other hedge funds and other institutional investors have also added to or reduced their stakes in CVS. Mercer Capital Advisers Inc. purchased a new stake in shares of CVS Health Corporation during the first quarter worth about $118,000. Edmp Inc. bought a new stake in CVS Health Corporation during the first quarter worth $202,000. Pinnacle Bank bought a new stake in CVS Health Corporation during the first quarter worth $203,000. Doyle Wealth Management bought a new stake in CVS Health Corporation during the first quarter worth $208,000. Finally, Cue Financial Group Inc. raised its stake in CVS Health Corporation by 3.6% in the first quarter. Cue Financial Group Inc. now owns 2,708 shares of the pharmacy operator’s stock worth $213,000 after buying an additional 95 shares in the last quarter. 81.53% of the stock is currently owned by hedge funds and other institutional investors.
Shares of CVS Health Corporation (NYSE:CVS) traded up 0.66% on Wednesday, reaching $76.59. 896,504 shares of the company were exchanged. CVS Health Corporation has a 52-week low of $69.30 and a 52-week high of $94.30. The company has a market capitalization of $77.86 billion, a P/E ratio of 15.26 and a beta of 0.91. The stock has a 50 day moving average of $78.28 and a 200-day moving average of $78.95.
CVS Health Corporation (NYSE:CVS) last announced its quarterly earnings data on Tuesday, August 8th. The pharmacy operator reported $1.33 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.31 by $0.02. The company had revenue of $45.69 billion for the quarter, compared to analysts’ expectations of $45.36 billion. CVS Health Corporation had a net margin of 2.93% and a return on equity of 17.47%. The business’s revenue was up 4.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.32 EPS. On average, analysts predict that CVS Health Corporation will post $5.88 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Thursday, August 3rd. Stockholders of record on Monday, July 24th were paid a $0.50 dividend. The ex-dividend date of this dividend was Thursday, July 20th. This represents a $2.00 annualized dividend and a dividend yield of 2.63%. CVS Health Corporation’s dividend payout ratio is currently 39.92%.
A number of research firms have weighed in on CVS. BidaskClub lowered CVS Health Corporation from a “hold” rating to a “sell” rating in a report on Friday, August 25th. Loop Capital began coverage on CVS Health Corporation in a report on Thursday, August 24th. They set a “hold” rating and a $83.00 target price for the company. Citigroup Inc. lowered their target price on CVS Health Corporation from $88.00 to $87.00 and set a “neutral” rating for the company in a report on Thursday, August 17th. Robert W. Baird restated an “outperform” rating and set a $90.00 target price on shares of CVS Health Corporation in a report on Monday, August 14th. Finally, Wolfe Research lowered CVS Health Corporation from an “outperform” rating to a “market perform” rating and lowered their target price for the stock from $89.00 to $82.00 in a report on Monday, August 14th. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating and fourteen have assigned a buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus price target of $90.83.
In other news, CFO David M. Denton sold 230,510 shares of CVS Health Corporation stock in a transaction that occurred on Monday, June 12th. The shares were sold at an average price of $80.00, for a total value of $18,440,800.00. Following the transaction, the chief financial officer now directly 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 accessible through this hyperlink. Also, EVP Helena Foulkes sold 20,333 shares of CVS Health Corporation stock in a transaction that occurred on Monday, June 26th. The stock was sold at an average price of $80.00, for a total transaction of $1,626,640.00. Following the completion of the transaction, the executive vice president now directly owns 59,301 shares in the company, valued at $4,744,080. The disclosure for this sale can be found here. Insiders sold a total of 273,675 shares of company stock worth $21,831,647 in the last ninety days. 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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