CVS Health Corp (CVS) Shares Bought by Vista Investment Management
Vista Investment Management raised its position in shares of CVS Health Corp (NYSE:CVS) by 46.7% during the 4th quarter, HoldingsChannel reports. The fund owned 7,230 shares of the pharmacy operator’s stock after purchasing an additional 2,300 shares during the period. Vista Investment Management’s holdings in CVS Health were worth $474,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also recently modified their holdings of CVS. Oregon Public Employees Retirement Fund raised its holdings in shares of CVS Health by 6,858.5% during the 4th quarter. Oregon Public Employees Retirement Fund now owns 25,089,377 shares of the pharmacy operator’s stock worth $383,000 after acquiring an additional 24,728,818 shares in the last quarter. BlackRock Inc. raised its holdings in shares of CVS Health by 22.0% during the 4th quarter. BlackRock Inc. now owns 92,954,958 shares of the pharmacy operator’s stock worth $6,090,409,000 after acquiring an additional 16,757,941 shares in the last quarter. Dodge & Cox purchased a new stake in shares of CVS Health during the 3rd quarter worth approximately $1,190,694,000. Geode Capital Management LLC raised its holdings in shares of CVS Health by 36.2% during the 4th quarter. Geode Capital Management LLC now owns 16,462,292 shares of the pharmacy operator’s stock worth $1,076,697,000 after acquiring an additional 4,376,604 shares in the last quarter. Finally, Epoch Investment Partners Inc. raised its holdings in shares of CVS Health by 1,908.9% during the 4th quarter. Epoch Investment Partners Inc. now owns 3,872,700 shares of the pharmacy operator’s stock worth $253,740,000 after acquiring an additional 3,679,925 shares in the last quarter. 81.55% of the stock is currently owned by institutional investors and hedge funds.
CVS has been the topic of several recent research reports. Sanford C. Bernstein initiated coverage on CVS Health in a report on Tuesday, March 12th. They set an “outperform” rating and a $76.00 price objective on the stock. Morgan Stanley set a $92.00 price objective on CVS Health and gave the stock a “buy” rating in a report on Friday, February 22nd. ValuEngine cut CVS Health from a “sell” rating to a “strong sell” rating in a report on Thursday, February 28th. JPMorgan Chase & Co. reissued an “overweight” rating and set a $91.00 target price on shares of CVS Health in a research report on Thursday, February 21st. Finally, Citigroup cut their target price on CVS Health from $94.00 to $68.00 and set a “buy” rating on the stock in a research report on Wednesday, March 6th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating, seventeen have issued a buy rating and one has issued a strong buy rating to the company. CVS Health currently has an average rating of “Buy” and a consensus target price of $79.15.
CVS Health (NYSE:CVS) last released its earnings results on Wednesday, February 20th. The pharmacy operator reported $2.14 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $2.07 by $0.07. The firm had revenue of $54.42 billion for the quarter, compared to the consensus estimate of $53.78 billion. CVS Health had a positive return on equity of 17.49% and a negative net margin of 0.31%. The company’s revenue for the quarter was up 12.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.92 EPS. On average, equities analysts expect that CVS Health Corp will post 6.79 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Friday, May 3rd. Stockholders of record on Tuesday, April 23rd will be given a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a dividend yield of 3.80%. The ex-dividend date of this dividend is Monday, April 22nd. CVS Health’s dividend payout ratio is currently 28.25%.
In other CVS Health news, Director David W. Dorman acquired 9,600 shares of the business’s stock in a transaction on Friday, March 8th. The shares were bought at an average price of $52.71 per share, with a total value of $506,016.00. Following the transaction, the director now directly owns 122,302 shares of the company’s stock, valued at approximately $6,446,538.42. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, COO Jonathan C. Roberts sold 77,639 shares of the company’s stock in a transaction on Friday, February 1st. The shares were sold at an average price of $64.54, for a total value of $5,010,821.06. The disclosure for this sale can be found here. In the last ninety days, insiders acquired 23,600 shares of company stock worth $1,270,896 and sold 245,671 shares worth $15,839,966. Corporate insiders own 0.53% of the company’s stock.
CVS Health Profile
CVS Health Corporation provides health services and plans in the United States. Its Pharmacy Services segment offers pharmacy benefit management solutions, such as plan design and administration, formulary management, retail pharmacy network management, mail order pharmacy, specialty pharmacy and infusion, Medicare Part D, clinical, disease management, and medical spend management services.
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