CVS Health Corp (CVS) Holdings Cut by New York State Common Retirement Fund
New York State Common Retirement Fund lessened its holdings in CVS Health Corp (NYSE:CVS) by 3.5% during the third quarter, Holdings Channel reports. The fund owned 3,235,540 shares of the pharmacy operator’s stock after selling 116,655 shares during the period. New York State Common Retirement Fund’s holdings in CVS Health were worth $263,114,000 at the end of the most recent reporting period.
A number of other institutional investors have also added to or reduced their stakes in the business. Horan Capital Advisors LLC. grew its holdings in shares of CVS Health by 3.2% during the second quarter. Horan Capital Advisors LLC. now owns 32,115 shares of the pharmacy operator’s stock worth $2,584,000 after purchasing an additional 1,000 shares during the last quarter. Community Bank N.A. grew its holdings in shares of CVS Health by 7.3% during the second quarter. Community Bank N.A. now owns 19,976 shares of the pharmacy operator’s stock worth $1,608,000 after purchasing an additional 1,362 shares during the last quarter. FIL Ltd grew its holdings in shares of CVS Health by 13.8% during the second quarter. FIL Ltd now owns 514,836 shares of the pharmacy operator’s stock worth $41,424,000 after purchasing an additional 62,318 shares during the last quarter. Midwest Investment Management LLC grew its holdings in shares of CVS Health by 6.2% during the second quarter. Midwest Investment Management LLC now owns 21,382 shares of the pharmacy operator’s stock worth $1,720,000 after purchasing an additional 1,245 shares during the last quarter. Finally, ETRADE Capital Management LLC grew its holdings in shares of CVS Health by 3.7% during the second quarter. ETRADE Capital Management LLC now owns 55,653 shares of the pharmacy operator’s stock worth $4,478,000 after purchasing an additional 1,979 shares during the last quarter. Hedge funds and other institutional investors own 81.69% of the company’s stock.
In other CVS Health news, EVP Lisa Bisaccia sold 29,445 shares of the business’s stock in a transaction that occurred on 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 transaction, the executive vice president now directly owns 15,556 shares of the company’s stock, valued at $1,166,700. The sale was disclosed in a legal filing with the SEC, which is available through this link. 0.61% of the stock is currently owned by insiders.
CVS Health Corp (NYSE:CVS) opened at $78.78 on Tuesday. CVS Health Corp has a 12 month low of $66.45 and a 12 month high of $84.72. The company has a quick ratio of 0.55, a current ratio of 1.05 and a debt-to-equity ratio of 0.67. The stock has a market capitalization of $79,803.51, a P/E ratio of 16.28, a price-to-earnings-growth ratio of 1.25 and a beta of 0.90.
CVS Health (NYSE:CVS) last issued its quarterly earnings results on Monday, November 6th. The pharmacy operator reported $1.50 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.49 by $0.01. CVS Health had a return on equity of 16.96% and a net margin of 2.77%. The firm had revenue of $46.18 billion for the quarter, compared to analyst estimates of $46.17 billion. During the same period in the previous year, the firm earned $1.64 earnings per share. The company’s revenue was up 3.5% compared to the same quarter last year. equities research analysts anticipate that CVS Health Corp will post 5.89 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, February 2nd. Shareholders of record on Wednesday, January 24th will be paid a $0.50 dividend. This represents a $2.00 annualized dividend and a yield of 2.54%. The ex-dividend date is Tuesday, January 23rd. CVS Health’s dividend payout ratio (DPR) is presently 41.32%.
CVS has been the topic of a number of recent analyst reports. Jefferies Group set a $76.00 price objective on CVS Health and gave the stock a “hold” rating in a research note on Monday, December 4th. Royal Bank of Canada initiated coverage on CVS Health in a research note on Tuesday, September 19th. They issued an “outperform” rating and a $95.00 price objective on the stock. Vetr lowered CVS Health from a “buy” rating to a “hold” rating and set a $77.11 price objective on the stock. in a research note on Thursday, January 4th. Robert W. Baird reaffirmed a “hold” rating and issued a $77.00 price objective on shares of CVS Health in a research note on Friday, October 27th. Finally, UBS Group raised CVS Health from an “outperform” rating to a “strong-buy” rating in a research note on Thursday, January 4th. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating, twelve have given a buy rating and two have issued a strong buy rating to the company. The company currently has an average rating of “Buy” and a consensus price target of $86.66.
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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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