Bedrijfstakpensioenfonds Voor DE Media PNO Invests $3.48 Million in CVS Health Corp (CVS) Stock
Bedrijfstakpensioenfonds Voor DE Media PNO acquired a new position in CVS Health Corp (NYSE:CVS) in the 3rd quarter, HoldingsChannel reports. The firm acquired 42,837 shares of the pharmacy operator’s stock, valued at approximately $3,484,000.
A number of other hedge funds and other institutional investors also recently modified their holdings of CVS. Pathstone Family Office LLC increased its stake in shares of CVS Health by 341.0% in the 2nd quarter. Pathstone Family Office LLC now owns 1,270 shares of the pharmacy operator’s stock worth $2,353,000 after acquiring an additional 982 shares in the last quarter. Fieldpoint Private Securities LLC increased its stake in shares of CVS Health by 333.3% in the 2nd quarter. Fieldpoint Private Securities LLC now owns 1,300 shares of the pharmacy operator’s stock worth $105,000 after acquiring an additional 1,000 shares in the last quarter. Arcadia Investment Management Corp MI increased its stake in shares of CVS Health by 119.6% in the 3rd quarter. Arcadia Investment Management Corp MI now owns 1,333 shares of the pharmacy operator’s stock worth $108,000 after acquiring an additional 726 shares in the last quarter. MPS Loria Financial Planners LLC bought a new position in shares of CVS Health in the 2nd quarter worth about $119,000. Finally, Gemmer Asset Management LLC increased its stake in shares of CVS Health by 15.3% in the 2nd quarter. Gemmer Asset Management LLC now owns 1,509 shares of the pharmacy operator’s stock worth $121,000 after acquiring an additional 200 shares in the last quarter. Institutional investors and hedge funds own 81.69% of the company’s stock.
Shares of CVS Health Corp (NYSE:CVS) opened at $79.50 on Thursday. The company has a debt-to-equity ratio of 0.67, a quick ratio of 0.55 and a current ratio of 1.05. The stock has a market cap of $80,530.00, a PE ratio of 16.43, a PEG ratio of 1.25 and a beta of 0.90. CVS Health Corp has a 1-year low of $66.45 and a 1-year high of $84.72.
CVS Health (NYSE:CVS) last announced its quarterly earnings results on Monday, November 6th. The pharmacy operator reported $1.50 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.49 by $0.01. The firm had revenue of $46.18 billion for the quarter, compared to the consensus estimate of $46.17 billion. CVS Health had a net margin of 2.77% and a return on equity of 16.96%. The business’s quarterly revenue was up 3.5% compared to the same quarter last year. During the same quarter last year, the firm posted $1.64 EPS. sell-side analysts forecast that CVS Health Corp will post 5.89 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Friday, February 2nd. Stockholders of record on Wednesday, January 24th will be issued a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a dividend yield of 2.52%. The ex-dividend date of this dividend is Tuesday, January 23rd. CVS Health’s payout ratio is presently 41.32%.
Several brokerages recently issued reports on CVS. Vetr lowered shares of CVS Health from a “hold” rating to a “sell” rating and set a $76.66 price target for the company. in a research note on Tuesday. ValuEngine downgraded shares of CVS Health from a “buy” rating to a “hold” rating in a research report on Sunday, December 31st. SunTrust Banks increased their price objective on shares of CVS Health to $90.00 and gave the company a “buy” rating in a research report on Friday, January 5th. Morgan Stanley raised shares of CVS Health from an “equal weight” rating to an “overweight” rating and set a $88.00 price objective on the stock in a research report on Friday, January 5th. Finally, Leerink Swann increased their price objective on shares of CVS Health from $82.00 to $90.00 and gave the company an “outperform” rating in a research report on Monday, January 8th. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating, twelve have given a buy rating and two have given a strong buy rating to the stock. CVS Health presently has a consensus rating of “Buy” and a consensus target price of $86.63.
In other news, EVP Lisa Bisaccia sold 29,445 shares of the firm’s stock in a transaction dated 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 sale, the executive vice president now owns 15,556 shares of the company’s stock, valued at approximately $1,166,700. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Company insiders own 0.61% of the company’s stock.
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About CVS Health
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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