CVS Health Corp (CVS) Shares Sold by Gardiner Nancy B
Gardiner Nancy B lessened its stake in shares of CVS Health Corp (NYSE:CVS) by 8.4% in the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 12,504 shares of the pharmacy operator’s stock after selling 1,140 shares during the period. CVS Health comprises approximately 1.7% of Gardiner Nancy B’s investment portfolio, making the stock its 24th biggest holding. Gardiner Nancy B’s holdings in CVS Health were worth $983,000 at the end of the most recent reporting period.
Several other institutional investors also recently bought and sold shares of CVS. Camarda Financial Advisors LLC purchased a new stake in CVS Health in the second quarter valued at $102,000. Kiley Juergens Wealth Management LLC purchased a new stake in CVS Health in the second quarter valued at $103,000. Legacy Advisors LLC boosted its holdings in CVS Health by 7,100.0% in the second quarter. Legacy Advisors LLC now owns 1,800 shares of the pharmacy operator’s stock valued at $116,000 after purchasing an additional 1,775 shares during the last quarter. Squar Milner Financial Services LLC purchased a new stake in CVS Health in the second quarter valued at $122,000. Finally, Canton Hathaway LLC purchased a new stake in CVS Health in the third quarter valued at $126,000. 82.75% of the stock is owned by hedge funds and other institutional investors.
In other news, EVP Eva C. Boratto sold 13,311 shares of the firm’s stock in a transaction on Monday, September 17th. The shares were sold at an average price of $77.16, for a total value of $1,027,076.76. Following the sale, the executive vice president now directly owns 55,162 shares in the company, valued at approximately $4,256,299.92. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Kevin Hourican sold 8,564 shares of the firm’s stock in a transaction on Monday, August 27th. The shares were sold at an average price of $75.00, for a total transaction of $642,300.00. Following the completion of the sale, the executive vice president now owns 12,135 shares in the company, valued at $910,125. The disclosure for this sale can be found here. Insiders sold a total of 43,409 shares of company stock valued at $3,392,097 in the last three months. 0.53% of the stock is currently owned by corporate insiders.
CVS Health (NYSE:CVS) last posted its quarterly earnings data on Wednesday, August 8th. The pharmacy operator reported $1.69 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.61 by $0.08. The firm had revenue of $46.71 billion during the quarter, compared to analysts’ expectations of $46.34 billion. CVS Health had a net margin of 1.61% and a return on equity of 18.25%. The firm’s quarterly revenue was up 2.2% on a year-over-year basis. During the same quarter last year, the company posted $1.33 EPS. On average, sell-side analysts expect that CVS Health Corp will post 7.05 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, November 1st. Shareholders of record on Wednesday, October 24th will be given a $0.50 dividend. The ex-dividend date of this dividend is Tuesday, October 23rd. This represents a $2.00 annualized dividend and a yield of 2.74%. CVS Health’s dividend payout ratio is presently 33.90%.
Several equities research analysts have commented on CVS shares. Royal Bank of Canada lowered their price target on shares of CVS Health to $84.00 and set an “outperform” rating on the stock in a report on Friday, June 29th. Mizuho reissued a “buy” rating on shares of CVS Health in a research note on Saturday, June 30th. Morgan Stanley lowered their target price on shares of CVS Health from $88.00 to $80.00 and set an “overweight” rating on the stock in a research note on Tuesday, July 3rd. Citigroup reissued a “buy” rating and set a $81.00 target price on shares of CVS Health in a research note on Monday, July 9th. Finally, Leerink Swann set a $80.00 target price on shares of CVS Health and gave the stock an “outperform” rating in a research note on Thursday, August 9th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating, ten have issued a buy rating and two have assigned a strong buy rating to the company. The stock has an average rating of “Buy” and an average price target of $86.31.
CVS Health Profile
CVS Health Corporation, together with its subsidiaries, provides integrated pharmacy health care services. It operates through Pharmacy Services and Retail/LTC segments. The Pharmacy Services segment offers pharmacy benefit management solutions, such as plan design and administration, formulary management, Medicare Part D services, mail order, specialty pharmacy and infusion services, retail pharmacy network management services, prescription management systems, clinical services, disease management programs, and medical pharmacy management services.
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