Strs Ohio Sells 31,518 Shares of CVS Health Corp (CVS)
Strs Ohio reduced its position in CVS Health Corp (NYSE:CVS) by 3.8% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 791,285 shares of the pharmacy operator’s stock after selling 31,518 shares during the quarter. Strs Ohio owned about 0.08% of CVS Health worth $50,919,000 at the end of the most recent quarter.
A number of other hedge funds have also recently added to or reduced their stakes in the business. Wagner Wealth Management LLC bought a new stake in shares of CVS Health during the 4th quarter valued at approximately $114,000. Camarda Financial Advisors LLC bought a new stake in shares of CVS Health during the 2nd quarter valued at approximately $102,000. Kiley Juergens Wealth Management LLC bought a new stake in shares of CVS Health during the 2nd quarter valued at approximately $103,000. Quantbot Technologies LP bought a new stake in shares of CVS Health during the 1st quarter valued at approximately $103,000. Finally, Focused Wealth Management Inc grew its holdings in shares of CVS Health by 90.5% during the 4th quarter. Focused Wealth Management Inc now owns 1,781 shares of the pharmacy operator’s stock valued at $129,000 after purchasing an additional 846 shares during the last quarter. 83.60% of the stock is currently owned by hedge funds and other institutional investors.
CVS has been the topic of several research reports. Mizuho reaffirmed a “buy” rating on shares of CVS Health in a report on Saturday, June 30th. Royal Bank of Canada reaffirmed a “buy” rating and set a $90.00 price target on shares of CVS Health in a report on Wednesday, August 8th. ValuEngine lowered shares of CVS Health from a “sell” rating to a “strong sell” rating in a report on Tuesday, May 8th. Morgan Stanley decreased their price target on shares of CVS Health from $88.00 to $80.00 and set an “overweight” rating on the stock in a report on Tuesday, July 3rd. Finally, Citigroup reaffirmed a “buy” rating and set a $81.00 price target on shares of CVS Health in a report on Monday, July 9th. Three research analysts have rated the stock with a sell rating, four have issued a hold rating, eleven have given a buy rating and two have given a strong buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus target price of $86.04.
CVS Health (NYSE:CVS) last issued its quarterly earnings results on Wednesday, August 8th. The pharmacy operator reported $1.69 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.61 by $0.08. The firm had revenue of $46.71 billion for the quarter, compared to the consensus estimate of $46.34 billion. CVS Health had a net margin of 1.61% and a return on equity of 18.25%. The company’s revenue for the quarter was up 2.2% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.33 EPS. analysts expect that CVS Health Corp will post 7.04 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Wednesday, August 1st. Stockholders of record on Wednesday, July 25th were given a $0.50 dividend. The ex-dividend date was Tuesday, July 24th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 2.71%. CVS Health’s dividend payout ratio (DPR) is currently 33.90%.
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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