Manning & Napier Advisors LLC Increases Stake in CVS Health Corporation (CVS)
Manning & Napier Advisors LLC boosted its position in CVS Health Corporation (NYSE:CVS) by 109.3% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 296,527 shares of the pharmacy operator’s stock after buying an additional 154,847 shares during the period. Manning & Napier Advisors LLC’s holdings in CVS Health Corporation were worth $23,857,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in CVS. Naples Global Advisors LLC purchased a new position in CVS Health Corporation during the first quarter worth about $452,000. Regent Investment Management LLC boosted its stake in CVS Health Corporation by 0.6% in the first quarter. Regent Investment Management LLC now owns 66,818 shares of the pharmacy operator’s stock worth $5,245,000 after buying an additional 429 shares during the last quarter. Thompson Rubinstein Investment Management Inc. OR boosted its stake in CVS Health Corporation by 8.7% in the first quarter. Thompson Rubinstein Investment Management Inc. OR now owns 39,646 shares of the pharmacy operator’s stock worth $3,112,000 after buying an additional 3,159 shares during the last quarter. Candriam Luxembourg S.C.A. boosted its stake in CVS Health Corporation by 17.9% in the first quarter. Candriam Luxembourg S.C.A. now owns 92,139 shares of the pharmacy operator’s stock worth $7,233,000 after buying an additional 14,012 shares during the last quarter. Finally, Koshinski Asset Management Inc. boosted its stake in CVS Health Corporation by 83.3% in the first quarter. Koshinski Asset Management Inc. now owns 21,694 shares of the pharmacy operator’s stock worth $1,703,000 after buying an additional 9,858 shares during the last quarter. Hedge funds and other institutional investors own 82.31% of the company’s stock.
Shares of CVS Health Corporation (NYSE CVS) traded up 0.30% during trading on Monday, reaching $79.65. The company had a trading volume of 1,089,124 shares. The stock’s 50-day moving average price is $78.83 and its 200-day moving average price is $78.96. The stock has a market capitalization of $80.97 billion, a PE ratio of 15.87 and a beta of 0.91. CVS Health Corporation has a 12 month low of $69.30 and a 12 month high of $98.44.
CVS Health Corporation (NYSE:CVS) last released its earnings results on Tuesday, August 8th. The pharmacy operator reported $1.33 earnings per share for the quarter, topping analysts’ consensus estimates of $1.31 by $0.02. The firm had revenue of $45.69 billion during the quarter, compared to the consensus estimate of $45.36 billion. CVS Health Corporation had a return on equity of 17.47% and a net margin of 2.93%. The firm’s revenue for the quarter was up 4.5% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.32 earnings per share. Equities analysts forecast that CVS Health Corporation will post $5.88 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Thursday, August 3rd. Shareholders of record on Monday, July 24th were given a $0.50 dividend. The ex-dividend date of this dividend was Thursday, July 20th. This represents a $2.00 dividend on an annualized basis and a yield of 2.52%. CVS Health Corporation’s dividend payout ratio (DPR) is 39.92%.
A number of analysts have weighed in on the company. Wolfe Research reaffirmed a “peer perform” rating on shares of CVS Health Corporation in a research report on Monday. BidaskClub raised CVS Health Corporation from a “sell” rating to a “hold” rating in a research report on Wednesday, August 2nd. Jefferies Group LLC reaffirmed a “hold” rating and set a $82.00 price objective on shares of CVS Health Corporation in a research report on Friday, July 14th. Guggenheim reaffirmed a “buy” rating on shares of CVS Health Corporation in a research report on Monday, July 3rd. Finally, Needham & Company LLC assumed coverage on CVS Health Corporation in a research report on Tuesday, June 27th. They set a “hold” rating for the company. Eight analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus price target of $91.27.
In other news, CFO David M. Denton sold 230,510 shares of the stock in a transaction on Monday, June 12th. The stock was sold at an average price of $80.00, for a total transaction of $18,440,800.00. Following the completion of the sale, the chief financial officer now owns 176,983 shares in the company, valued at approximately $14,158,640. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Helena Foulkes sold 20,333 shares of the stock in a transaction on Monday, June 26th. The shares were sold at an average price of $80.00, for a total value of $1,626,640.00. Following the sale, the executive vice president now owns 59,301 shares of the company’s stock, valued at approximately $4,744,080. The disclosure for this sale can be found here. Insiders sold 271,175 shares of company stock valued at $21,632,597 over the last 90 days. 0.61% of the stock is currently owned by insiders.
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.
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