Riverhead Capital Management LLC Grows Position in CVS Health Corporation (CVS)
Riverhead Capital Management LLC raised its stake in shares of CVS Health Corporation (NYSE:CVS) by 47.5% during the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 97,791 shares of the pharmacy operator’s stock after buying an additional 31,510 shares during the quarter. Riverhead Capital Management LLC’s holdings in CVS Health Corporation were worth $7,868,000 at the end of the most recent reporting period.
A number of other large investors also recently made changes to their positions in the business. Jackson Grant Investment Advisers Inc. grew its holdings in CVS Health Corporation by 0.6% during the 2nd quarter. Jackson Grant Investment Advisers Inc. now owns 2,881 shares of the pharmacy operator’s stock valued at $232,000 after buying an additional 18 shares during the last quarter. Keel Point LLC lifted its stake in shares of CVS Health Corporation by 0.7% during the 1st quarter. Keel Point LLC now owns 3,296 shares of the pharmacy operator’s stock worth $259,000 after purchasing an additional 22 shares during the period. First City Capital Management Inc. lifted its stake in shares of CVS Health Corporation by 0.3% during the 1st quarter. First City Capital Management Inc. now owns 12,771 shares of the pharmacy operator’s stock worth $1,003,000 after purchasing an additional 40 shares during the period. Elefante Mark B lifted its stake in shares of CVS Health Corporation by 0.7% during the 2nd quarter. Elefante Mark B now owns 6,400 shares of the pharmacy operator’s stock worth $515,000 after purchasing an additional 45 shares during the period. Finally, Traynor Capital Management Inc. lifted its stake in shares of CVS Health Corporation by 1.3% during the 2nd quarter. Traynor Capital Management Inc. now owns 3,676 shares of the pharmacy operator’s stock worth $290,000 after purchasing an additional 48 shares during the period. Hedge funds and other institutional investors own 81.42% of the company’s stock.
CVS Health Corporation (CVS) opened at $70.55 on Friday. The company has a debt-to-equity ratio of 0.67, a current ratio of 1.05 and a quick ratio of 0.55. CVS Health Corporation has a 52-week low of $66.45 and a 52-week high of $84.72. The firm has a market capitalization of $72,408.67, a price-to-earnings ratio of 12.52, a P/E/G ratio of 1.23 and a beta of 0.86.
CVS Health Corporation (NYSE:CVS) last released its quarterly earnings data on Monday, November 6th. The pharmacy operator reported $1.50 EPS for the quarter, beating the consensus estimate of $1.49 by $0.01. CVS Health Corporation had a return on equity of 16.96% and a net margin of 2.77%. The company had revenue of $46.18 billion for the quarter, compared to analyst estimates of $46.17 billion. During the same period last year, the company posted $1.64 earnings per share. The firm’s revenue was up 3.5% compared to the same quarter last year. analysts predict that CVS Health Corporation will post 5.9 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Friday, November 3rd. Shareholders of record on Tuesday, October 24th were given a $0.50 dividend. This represents a $2.00 annualized dividend and a yield of 2.83%. The ex-dividend date was Monday, October 23rd. CVS Health Corporation’s dividend payout ratio (DPR) is presently 41.32%.
CVS has been the topic of a number of recent analyst reports. Robert W. Baird reissued a “hold” rating and set a $77.00 price target on shares of CVS Health Corporation in a research note on Friday, October 27th. Mizuho set a $90.00 price target on CVS Health Corporation and gave the stock a “buy” rating in a research note on Tuesday, October 24th. BidaskClub lowered CVS Health Corporation from a “hold” rating to a “sell” rating in a research note on Friday, August 25th. Loop Capital initiated coverage on CVS Health Corporation in a research note on Thursday, August 24th. They set a “hold” rating and a $83.00 price target on the stock. Finally, Needham & Company LLC reissued a “hold” rating on shares of CVS Health Corporation in a research note on Sunday, September 10th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and fourteen have issued a buy rating to the company. The company has an average rating of “Buy” and an average target price of $85.82.
In other CVS Health Corporation news, insider Larry J. Merlo sold 241,150 shares of the firm’s stock in a transaction dated Wednesday, September 13th. The stock was sold at an average price of $83.07, for a total value of $20,032,330.50. Following the transaction, the insider now directly owns 299,255 shares of the company’s stock, valued at $24,859,112.85. The transaction was disclosed in a 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 dated Monday, September 11th. The shares were sold at an average price of $79.61, for a total value of $7,186,155.87. Following the completion of the transaction, the executive vice president now directly owns 70,102 shares in the company, valued at $5,580,820.22. The disclosure for this sale can be found here. Insiders sold 714,125 shares of company stock worth $58,119,381 over the last three months. 0.61% of the stock is currently owned by corporate insiders.
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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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