Cim Investment Mangement Inc. Buys 7,777 Shares of CVS Health Corporation (CVS)
Cim Investment Mangement Inc. boosted its holdings in CVS Health Corporation (NYSE:CVS) by 96.5% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 15,840 shares of the pharmacy operator’s stock after purchasing an additional 7,777 shares during the quarter. Cim Investment Mangement Inc.’s holdings in CVS Health Corporation were worth $1,274,000 as of its most recent SEC filing.
A number of other hedge funds have also bought and sold shares of the business. Gemmer Asset Management LLC raised its holdings in shares of CVS Health Corporation by 15.3% during 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. TB Alternative Assets Ltd. purchased a new stake in shares of CVS Health Corporation during the 2nd quarter worth approximately $121,000. SRS Capital Advisors Inc. raised its holdings in shares of CVS Health Corporation by 48.2% during the 1st quarter. SRS Capital Advisors Inc. now owns 2,256 shares of the pharmacy operator’s stock worth $177,000 after acquiring an additional 734 shares in the last quarter. Grace & White Inc. NY purchased a new stake in shares of CVS Health Corporation during the 2nd quarter worth approximately $199,000. Finally, Nadler Financial Group Inc. purchased a new stake in shares of CVS Health Corporation during the 2nd quarter worth approximately $202,000. Institutional investors and hedge funds own 81.46% of the company’s stock.
In other CVS Health Corporation news, Director Richard J. Swift sold 2,500 shares of the firm’s stock in a transaction that occurred on Wednesday, August 16th. The stock was sold at an average price of $79.62, for a total value of $199,050.00. Following the sale, the director now directly owns 3,258 shares of the company’s stock, valued at $259,401.96. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Thomas M. Moriarty sold 90,267 shares of the firm’s stock in a transaction that occurred on Monday, September 11th. The shares were sold at an average price of $79.61, for a total value of $7,186,155.87. Following the completion of the sale, the executive vice president now directly owns 70,102 shares in the company, valued at $5,580,820.22. The disclosure for this sale can be found here. Over the last three months, insiders sold 716,625 shares of company stock worth $58,318,431. 0.61% of the stock is owned by corporate insiders.
CVS Health Corporation (CVS) opened at $70.99 on Friday. The company has a current ratio of 1.05, a quick ratio of 0.56 and a debt-to-equity ratio of 0.67. The firm has a market capitalization of $71,912.30, a P/E ratio of 12.43, a P/E/G ratio of 1.22 and a beta of 0.86. CVS Health Corporation has a 12-month low of $66.45 and a 12-month high of $84.72.
CVS Health Corporation (NYSE:CVS) last announced its quarterly earnings results on Monday, November 6th. The pharmacy operator reported $1.50 earnings per share for the quarter, beating the consensus estimate of $1.49 by $0.01. The company had revenue of $46.18 billion during the quarter, compared to analysts’ expectations of $46.17 billion. CVS Health Corporation had a return on equity of 16.96% and a net margin of 2.77%. CVS Health Corporation’s quarterly revenue was up 3.5% on a year-over-year basis. During the same period last year, the business earned $1.64 earnings per share. equities analysts predict that CVS Health Corporation will post 5.89 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, November 3rd. Shareholders of record on Tuesday, October 24th were issued a $0.50 dividend. This represents a $2.00 annualized dividend and a yield of 2.82%. The ex-dividend date was Monday, October 23rd. CVS Health Corporation’s payout ratio is currently 41.32%.
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CVS has been the topic of several recent research reports. Needham & Company LLC upgraded CVS Health Corporation from a “hold” rating to a “buy” rating and increased their price target for the company from $69.02 to $79.00 in a report on Friday. Loop Capital decreased their price target on CVS Health Corporation from $83.00 to $73.00 and set a “hold” rating on the stock in a report on Tuesday, November 7th. Jefferies Group LLC decreased their price target on CVS Health Corporation from $86.00 to $76.00 and set a “hold” rating on the stock in a report on Tuesday, November 7th. Leerink Swann reiterated an “outperform” rating and issued a $85.00 target price (down previously from $90.00) on shares of CVS Health Corporation in a research note on Tuesday, November 7th. Finally, Citigroup Inc. reduced their target price on CVS Health Corporation from $87.00 to $74.00 and set a “neutral” rating on the stock in a research note on Friday, November 3rd. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and fourteen have issued a buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average price target of $85.82.
CVS Health Corporation 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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