Becker Capital Management Inc. Invests $279,000 in CVS Health Corp (CVS)
Becker Capital Management Inc. purchased a new position in CVS Health Corp (NYSE:CVS) in the 3rd quarter, Holdings Channel reports. The firm purchased 3,435 shares of the pharmacy operator’s stock, valued at approximately $279,000.
Other hedge funds have also bought and sold shares of the company. Horan Capital Advisors LLC. increased its position in CVS Health by 3.2% during the second quarter. Horan Capital Advisors LLC. now owns 32,115 shares of the pharmacy operator’s stock valued at $2,584,000 after acquiring an additional 1,000 shares during the last quarter. Community Bank N.A. increased its position in CVS Health by 7.3% during the second quarter. Community Bank N.A. now owns 19,976 shares of the pharmacy operator’s stock valued at $1,608,000 after acquiring an additional 1,362 shares during the last quarter. FIL Ltd increased its position in CVS Health by 13.8% during the second quarter. FIL Ltd now owns 514,836 shares of the pharmacy operator’s stock valued at $41,424,000 after acquiring an additional 62,318 shares during the last quarter. Midwest Investment Management LLC increased its position in CVS Health by 6.2% during the second quarter. Midwest Investment Management LLC now owns 21,382 shares of the pharmacy operator’s stock valued at $1,720,000 after acquiring an additional 1,245 shares during the last quarter. Finally, ETRADE Capital Management LLC increased its position in CVS Health by 3.7% during the second quarter. ETRADE Capital Management LLC now owns 55,653 shares of the pharmacy operator’s stock valued at $4,478,000 after acquiring an additional 1,979 shares during the last quarter. Hedge funds and other institutional investors own 81.62% of the company’s stock.
A number of analysts recently commented on CVS shares. Jefferies Group set a $76.00 price objective on CVS Health and gave the company a “hold” rating in a research report on Monday, December 4th. Royal Bank of Canada assumed coverage on CVS Health in a research report on Tuesday, September 19th. They set an “outperform” rating and a $95.00 price objective for the company. Vetr lowered CVS Health from a “buy” rating to a “hold” rating and set a $77.11 price target for the company. in a report on Thursday, January 4th. Robert W. Baird reissued a “hold” rating and set a $77.00 price target on shares of CVS Health in a report on Friday, October 27th. Finally, UBS Group raised CVS Health from an “outperform” rating to a “strong-buy” rating in a report on Thursday, January 4th. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating, twelve have issued a buy rating and two have assigned a strong buy rating to the company. CVS Health presently has an average rating of “Buy” and a consensus price target of $86.66.
Shares of CVS Health Corp (NYSE CVS) opened at $77.69 on Wednesday. The stock has a market capitalization of $78,700.00, a PE ratio of 16.05, a price-to-earnings-growth ratio of 1.38 and a beta of 0.90. The company has a current ratio of 1.05, a quick ratio of 0.55 and a debt-to-equity ratio of 0.67. CVS Health Corp has a fifty-two week low of $66.45 and a fifty-two week high of $84.72.
CVS Health (NYSE:CVS) last released its quarterly earnings data on Monday, November 6th. The pharmacy operator reported $1.50 earnings per share for the quarter, topping analysts’ consensus estimates of $1.49 by $0.01. The firm had revenue of $46.18 billion during the quarter, compared to analyst estimates of $46.17 billion. CVS Health had a return on equity of 16.96% and a net margin of 2.77%. The business’s quarterly revenue was up 3.5% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.64 earnings per share. equities research analysts expect that CVS Health Corp will post 5.9 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, February 2nd. Stockholders of record on Wednesday, January 24th will be paid a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a dividend yield of 2.57%. The ex-dividend date of this dividend is Tuesday, January 23rd. CVS Health’s dividend payout ratio (DPR) is 41.32%.
In other news, EVP Lisa Bisaccia sold 29,445 shares of the company’s stock in a transaction dated Thursday, December 21st. The stock was sold at an average price of $75.00, for a total value of $2,208,375.00. Following the completion of the transaction, the executive vice president now owns 15,556 shares of the company’s stock, valued at $1,166,700. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.61% of the company’s stock.
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CVS Health Company 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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