Paradigm Asset Management Co. LLC Raises Position in CVS Health Corp (CVS)
Paradigm Asset Management Co. LLC raised its stake in shares of CVS Health Corp (NYSE:CVS) by 15.8% in the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 50,526 shares of the pharmacy operator’s stock after acquiring an additional 6,900 shares during the quarter. CVS Health Corp makes up 0.8% of Paradigm Asset Management Co. LLC’s portfolio, making the stock its 17th largest holding. Paradigm Asset Management Co. LLC’s holdings in CVS Health Corp were worth $4,065,000 as of its most recent filing with the SEC.
Other hedge funds and other institutional investors also recently modified their holdings of the company. Boston Partners raised its holdings in shares of CVS Health Corp by 69.1% in the second quarter. Boston Partners now owns 6,459,237 shares of the pharmacy operator’s stock valued at $519,711,000 after buying an additional 2,638,888 shares during the last quarter. Canada Pension Plan Investment Board increased its position in CVS Health Corp by 89.8% in the second quarter. Canada Pension Plan Investment Board now owns 1,851,099 shares of the pharmacy operator’s stock worth $148,939,000 after purchasing an additional 876,027 shares during the period. NN Investment Partners Holdings N.V. increased its position in CVS Health Corp by 141.2% in the second quarter. NN Investment Partners Holdings N.V. now owns 1,427,210 shares of the pharmacy operator’s stock worth $114,832,000 after purchasing an additional 835,476 shares during the period. Swiss National Bank increased its position in CVS Health Corp by 26.9% in the first quarter. Swiss National Bank now owns 3,826,410 shares of the pharmacy operator’s stock worth $300,373,000 after purchasing an additional 811,100 shares during the period. Finally, Karp Capital Management Corp acquired a new stake in CVS Health Corp in the first quarter worth about $55,824,000. 81.64% of the stock is owned by institutional investors.
Shares of CVS Health Corp (NYSE CVS) opened at $69.25 on Friday. CVS Health Corp has a 1 year low of $68.01 and a 1 year high of $84.89. The firm has a market capitalization of $70.40 billion, a price-to-earnings ratio of 11.86, a P/E/G ratio of 1.26 and a beta of 0.86. The company has a current ratio of 1.09, a quick ratio of 0.56 and a debt-to-equity ratio of 0.75.
CVS Health Corp (NYSE:CVS) last posted its earnings results on Tuesday, August 8th. The pharmacy operator reported $1.33 EPS for the quarter, beating the consensus estimate 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 Corp had a return on equity of 17.47% and a net margin of 2.93%. The business’s quarterly revenue was up 4.5% on a year-over-year basis. During the same period last year, the company earned $1.32 earnings per share. analysts predict that CVS Health Corp will post 5.88 earnings per share for the current year.
The company also recently announced a quarterly dividend, which was paid on Friday, November 3rd. Shareholders of record on Tuesday, October 24th were given a $0.50 dividend. The ex-dividend date was Monday, October 23rd. This represents a $2.00 annualized dividend and a yield of 2.89%. CVS Health Corp’s dividend payout ratio is presently 39.84%.
CVS has been the subject of several analyst reports. Robert W. Baird restated a “hold” rating and set a $77.00 target price on shares of CVS Health Corp in a research report on Friday, October 27th. Citigroup Inc decreased their target price on CVS Health Corp from $87.00 to $74.00 and set a “neutral” rating for the company in a research report on Friday. Cowen and Company set a $86.00 target price on CVS Health Corp and gave the stock a “buy” rating in a research report on Sunday, October 29th. BidaskClub upgraded CVS Health Corp from a “sell” rating to a “hold” rating in a research report on Wednesday, August 2nd. Finally, TheStreet lowered CVS Health Corp from a “b-” rating to a “c+” rating in a research report on Tuesday. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and fifteen have issued a buy rating to the stock. CVS Health Corp has a consensus rating of “Buy” and a consensus target price of $87.33.
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In related news, COO Jonathan C. Roberts sold 85,743 shares of the firm’s stock in a transaction that occurred on Monday, September 18th. The stock was sold at an average price of $83.14, for a total transaction of $7,128,673.02. Following the completion of the sale, the chief operating officer now owns 119,555 shares of the company’s stock, valued at $9,939,802.70. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Thomas M. Moriarty sold 90,267 shares of the firm’s stock in a transaction that occurred on Monday, September 11th. The stock was sold at an average price of $79.61, for a total value of $7,186,155.87. Following the sale, the executive vice president now directly owns 70,102 shares of the company’s stock, valued at approximately $5,580,820.22. The disclosure for this sale can be found here. Insiders sold 716,625 shares of company stock valued at $58,318,431 over the last quarter. Corporate insiders own 0.61% of the company’s stock.
About CVS Health Corp
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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