Trustcore Financial Services LLC acquired a new stake in shares of CVS Health (NYSE:CVS) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 3,038 shares of the pharmacy operator’s stock, valued at approximately $220,000.
Several other large investors also recently made changes to their positions in CVS. BlackRock Inc. raised its stake in CVS Health by 3.8% during the 4th quarter. BlackRock Inc. now owns 66,996,510 shares of the pharmacy operator’s stock valued at $4,857,249,000 after purchasing an additional 2,430,476 shares during the period. Dimensional Fund Advisors LP raised its stake in CVS Health by 4.1% during the 3rd quarter. Dimensional Fund Advisors LP now owns 10,856,659 shares of the pharmacy operator’s stock valued at $882,860,000 after purchasing an additional 430,377 shares during the period. Bank of New York Mellon Corp raised its stake in CVS Health by 1.2% during the 4th quarter. Bank of New York Mellon Corp now owns 10,705,490 shares of the pharmacy operator’s stock valued at $776,147,000 after purchasing an additional 126,183 shares during the period. Veritas Asset Management LLP raised its stake in CVS Health by 2.8% during the 3rd quarter. Veritas Asset Management LLP now owns 8,674,524 shares of the pharmacy operator’s stock valued at $705,412,000 after purchasing an additional 235,960 shares during the period. Finally, Ameriprise Financial Inc. raised its stake in CVS Health by 30.2% during the 3rd quarter. Ameriprise Financial Inc. now owns 7,977,370 shares of the pharmacy operator’s stock valued at $648,683,000 after purchasing an additional 1,849,593 shares during the period. Institutional investors own 83.97% of the company’s stock.
Several analysts have issued reports on the stock. Morgan Stanley raised shares of CVS Health from an “equal weight” rating to an “overweight” rating and set a $88.00 target price on the stock in a research note on Friday, January 5th. Needham & Company LLC boosted their target price on shares of CVS Health from $85.00 to $88.00 and gave the company a “buy” rating in a research note on Tuesday, January 2nd. SunTrust Banks boosted their target price on shares of CVS Health to $90.00 and gave the company a “buy” rating in a research note on Friday, January 5th. Leerink Swann set a $85.00 target price on shares of CVS Health and gave the company a “buy” rating in a research note on Friday, February 9th. Finally, Mizuho set a $95.00 target price on shares of CVS Health and gave the company a “buy” rating in a research note on Wednesday, January 24th. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating, twelve have given a buy rating and two have given a strong buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus target price of $86.65.
NYSE CVS opened at $64.00 on Friday. CVS Health has a 1-year low of $60.14 and a 1-year high of $84.00. The company has a debt-to-equity ratio of 0.59, a quick ratio of 0.52 and a current ratio of 1.02. The firm has a market capitalization of $63,986.53, a PE ratio of 10.65, a P/E/G ratio of 1.04 and a beta of 1.05.
CVS Health (NYSE:CVS) last posted its quarterly earnings results on Thursday, February 8th. The pharmacy operator reported $1.92 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.88 by $0.04. CVS Health had a net margin of 3.58% and a return on equity of 17.21%. The business had revenue of $48.39 billion for the quarter, compared to the consensus estimate of $47.54 billion. During the same period in the prior year, the business posted $1.71 earnings per share. CVS Health’s revenue for the quarter was up 5.3% compared to the same quarter last year. sell-side analysts predict that CVS Health will post 6.31 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Thursday, May 3rd. Stockholders of record on Monday, April 23rd will be paid a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a dividend yield of 3.13%. The ex-dividend date is Friday, April 20th. CVS Health’s dividend payout ratio (DPR) is presently 33.90%.
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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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