Ipswich Investment Management Co. Inc. Sells 3,250 Shares of CVS Health Corp (CVS)

Ipswich Investment Management Co. Inc. trimmed its stake in shares of CVS Health Corp (NYSE:CVS) by 51.2% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 3,103 shares of the pharmacy operator’s stock after selling 3,250 shares during the quarter. Ipswich Investment Management Co. Inc.’s holdings in CVS Health were worth $225,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently bought and sold shares of the company. Convergence Investment Partners LLC lifted its holdings in shares of CVS Health by 31.9% in the 4th quarter. Convergence Investment Partners LLC now owns 67,200 shares of the pharmacy operator’s stock valued at $4,872,000 after buying an additional 16,238 shares during the period. USS Investment Management Ltd lifted its holdings in shares of CVS Health by 35.4% in the 4th quarter. USS Investment Management Ltd now owns 326,500 shares of the pharmacy operator’s stock valued at $23,689,000 after buying an additional 85,300 shares during the period. Legacy Private Trust Co. lifted its holdings in shares of CVS Health by 10.1% in the 4th quarter. Legacy Private Trust Co. now owns 42,094 shares of the pharmacy operator’s stock valued at $3,052,000 after buying an additional 3,866 shares during the period. SPC Financial Inc. lifted its holdings in shares of CVS Health by 5.2% in the 4th quarter. SPC Financial Inc. now owns 20,300 shares of the pharmacy operator’s stock valued at $1,472,000 after buying an additional 1,000 shares during the period. Finally, Starfire Investment Advisers Inc. acquired a new stake in shares of CVS Health in the 4th quarter valued at approximately $447,000. 83.23% of the stock is owned by institutional investors.

Several analysts have recently commented on CVS shares. Robert W. Baird reissued a “hold” rating and issued a $77.00 price target on shares of CVS Health in a report on Friday, October 27th. Needham & Company LLC raised CVS Health from a “hold” rating to a “buy” rating and raised their price target for the company from $69.02 to $79.00 in a report on Friday, November 10th. Deutsche Bank reissued a “hold” rating on shares of CVS Health in a report on Tuesday, December 5th. Raymond James Financial reaffirmed a “buy” rating on shares of CVS Health in a research note on Monday, December 4th. Finally, Cowen reaffirmed an “outperform” rating and issued a $99.00 price objective (up from $81.00) on shares of CVS Health in a research note on Thursday, January 18th. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating, twelve have issued a buy rating and two have issued a strong buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average target price of $87.82.

CVS Health Corp (CVS) opened at $68.00 on Friday. The company has a current ratio of 1.02, a quick ratio of 0.52 and a debt-to-equity ratio of 0.59. The firm has a market capitalization of $69,759.22, a price-to-earnings ratio of 11.61, a price-to-earnings-growth ratio of 1.17 and a beta of 0.93. CVS Health Corp has a 1 year low of $66.45 and a 1 year high of $84.00.

CVS Health (NYSE:CVS) last released its quarterly earnings results on Thursday, February 8th. The pharmacy operator reported $1.92 earnings per share for the quarter, topping the consensus estimate of $1.88 by $0.04. The company had revenue of $48.39 billion during the quarter, compared to the consensus estimate of $47.54 billion. CVS Health had a return on equity of 17.21% and a net margin of 3.58%. CVS Health’s revenue was up 5.3% compared to the same quarter last year. During the same quarter last year, the business posted $1.71 earnings per share. sell-side analysts forecast that CVS Health Corp will post 6.37 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which was paid on Friday, February 2nd. Shareholders of record on Wednesday, January 24th were given a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a yield of 2.94%. The ex-dividend date was Tuesday, January 23rd. CVS Health’s payout ratio is 30.91%.

In other news, EVP Helena Foulkes sold 19,965 shares of CVS Health stock in a transaction on Friday, February 16th. The stock was sold at an average price of $71.04, for a total value of $1,418,313.60. Following the completion of the sale, the executive vice president now owns 65,072 shares of the company’s stock, valued at $4,622,714.88. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Lisa Bisaccia sold 29,445 shares of CVS Health stock in a transaction on Thursday, December 21st. The shares were sold at an average price of $75.00, for a total value of $2,208,375.00. Following the completion of the sale, the executive vice president now directly owns 15,556 shares of the company’s stock, valued at approximately $1,166,700. The disclosure for this sale can be found here. Company insiders own 0.61% of the company’s stock.

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About CVS Health

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.

Institutional Ownership by Quarter for CVS Health (NYSE:CVS)

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