Synovus Financial Corp raised its stake in shares of CVS Health Corporation (NYSE:CVS) by 19.9% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 89,059 shares of the pharmacy operator’s stock after purchasing an additional 14,789 shares during the quarter. Synovus Financial Corp’s holdings in CVS Health Corporation were worth $7,156,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of the business. Horan Capital Advisors LLC. boosted its holdings in shares of CVS Health Corporation by 3.2% during the 2nd quarter. Horan Capital Advisors LLC. now owns 32,115 shares of the pharmacy operator’s stock valued at $2,584,000 after buying an additional 1,000 shares in the last quarter. Community Bank N.A. boosted its holdings in shares of CVS Health Corporation by 7.3% during the 2nd quarter. Community Bank N.A. now owns 19,976 shares of the pharmacy operator’s stock valued at $1,608,000 after buying an additional 1,362 shares in the last quarter. Northwestern Mutual Wealth Management Co. boosted its holdings in shares of CVS Health Corporation by 3.2% during the 1st quarter. Northwestern Mutual Wealth Management Co. now owns 176,294 shares of the pharmacy operator’s stock valued at $13,840,000 after buying an additional 5,478 shares in the last quarter. Midwest Investment Management LLC boosted its holdings in shares of CVS Health Corporation by 6.2% during the 2nd quarter. Midwest Investment Management LLC now owns 21,382 shares of the pharmacy operator’s stock valued at $1,720,000 after buying an additional 1,245 shares in the last quarter. Finally, Fiduciary Trust Co. boosted its holdings in shares of CVS Health Corporation by 1.2% during the 1st quarter. Fiduciary Trust Co. now owns 366,007 shares of the pharmacy operator’s stock valued at $28,732,000 after buying an additional 4,265 shares in the last quarter. 82.04% of the stock is currently owned by institutional investors and hedge funds.

Shares of CVS Health Corporation (NYSE CVS) opened at $70.26 on Friday. CVS Health Corporation has a 52-week low of $66.45 and a 52-week high of $84.72. The company has a market cap of $70,706.84, a PE ratio of 12.22, a PEG ratio of 1.20 and a beta of 0.86. The company has a debt-to-equity ratio of 0.67, a quick ratio of 0.55 and a current ratio of 1.05.

CVS Health Corporation (NYSE:CVS) last released its quarterly earnings results on Monday, November 6th. The pharmacy operator reported $1.50 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.49 by $0.01. CVS Health Corporation had a net margin of 2.77% and a return on equity of 16.96%. The firm had revenue of $46.18 billion during the quarter, compared to analyst estimates of $46.17 billion. During the same quarter in the prior year, the firm earned $1.64 EPS. The business’s revenue for the quarter was up 3.5% compared to the same quarter last year. sell-side analysts expect that CVS Health Corporation will post 5.9 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which was paid on Friday, November 3rd. Stockholders of record on Tuesday, October 24th were given a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a dividend yield of 2.85%. The ex-dividend date was Monday, October 23rd. CVS Health Corporation’s payout ratio is currently 41.32%.

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A number of analysts have recently commented on CVS shares. Royal Bank Of Canada started coverage on shares of CVS Health Corporation in a report on Tuesday, September 19th. They set an “outperform” rating and a $95.00 target price on the stock. Robert W. Baird restated a “hold” rating and set a $77.00 target price on shares of CVS Health Corporation in a report on Friday, October 27th. Loop Capital initiated coverage on shares of CVS Health Corporation in a research note on Thursday, August 24th. They issued a “hold” rating and a $83.00 price target on the stock. Jefferies Group LLC set a $86.00 price target on shares of CVS Health Corporation and gave the stock a “hold” rating in a research note on Wednesday, October 18th. Finally, Wolfe Research cut shares of CVS Health Corporation from an “outperform” rating to a “market perform” rating and dropped their price target for the stock from $89.00 to $82.00 in a research note on Monday, August 14th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and fourteen have assigned a buy rating to the stock. The company has a consensus rating of “Buy” and an average price target of $85.82.

In related news, CFO David M. Denton sold 237,078 shares of the stock in a transaction that occurred on Monday, September 11th. The shares were sold at an average price of $79.65, for a total value of $18,883,262.70. Following the completion of the sale, the chief financial officer now directly owns 141,096 shares of the company’s stock, valued at approximately $11,238,296.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Thomas M. Moriarty sold 90,267 shares of the stock in a transaction that occurred on Monday, September 11th. The stock was sold at an average price of $79.61, for a total transaction of $7,186,155.87. Following the completion of the sale, the executive vice president now directly owns 70,102 shares of the company’s stock, valued at $5,580,820.22. The disclosure for this sale can be found here. Insiders have sold a total of 714,125 shares of company stock valued at $58,119,381 in the last ninety days. Insiders own 0.61% of the company’s stock.

CVS Health Corporation Company 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.

Institutional Ownership by Quarter for CVS Health Corporation (NYSE:CVS)

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