K.J. Harrison & Partners Inc raised its holdings in shares of CVS Health Corp (NYSE:CVS) by 140.5% during the third quarter, HoldingsChannel reports. The institutional investor owned 18,775 shares of the pharmacy operator’s stock after acquiring an additional 10,967 shares during the quarter. K.J. Harrison & Partners Inc’s holdings in CVS Health were worth $1,478,000 at the end of the most recent quarter.
A number of other hedge funds have also made changes to their positions in CVS. Camarda Financial Advisors LLC purchased a new stake in shares of CVS Health during the second quarter valued at approximately $102,000. Kiley Juergens Wealth Management LLC purchased a new stake in shares of CVS Health during the second quarter valued at approximately $103,000. Legacy Advisors LLC raised its stake in shares of CVS Health by 7,100.0% during the second quarter. Legacy Advisors LLC now owns 1,800 shares of the pharmacy operator’s stock valued at $116,000 after purchasing an additional 1,775 shares during the period. Squar Milner Financial Services LLC purchased a new stake in shares of CVS Health during the second quarter valued at approximately $122,000. Finally, Canton Hathaway LLC purchased a new stake in shares of CVS Health during the third quarter valued at approximately $126,000. 82.62% of the stock is currently owned by hedge funds and other institutional investors.
Shares of NYSE:CVS opened at $72.39 on Thursday. The company has a debt-to-equity ratio of 1.73, a current ratio of 2.34 and a quick ratio of 1.87. The firm has a market capitalization of $73.70 billion, a P/E ratio of 12.27, a P/E/G ratio of 0.97 and a beta of 1.02. CVS Health Corp has a 12-month low of $60.14 and a 12-month high of $83.88.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, November 1st. Shareholders of record on Wednesday, October 24th will be paid a dividend of $0.50 per share. The ex-dividend date of this dividend is Tuesday, October 23rd. This represents a $2.00 annualized dividend and a yield of 2.76%. CVS Health’s payout ratio is 33.90%.
In other CVS Health news, EVP Eva C. Boratto sold 13,311 shares of the business’s stock in a transaction on Monday, September 17th. The shares were sold at an average price of $77.16, for a total transaction of $1,027,076.76. Following the completion of the sale, the executive vice president now owns 55,162 shares in the company, valued at $4,256,299.92. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, EVP Lisa Bisaccia sold 21,534 shares of the business’s stock in a transaction on Monday, October 1st. The shares were sold at an average price of $80.00, for a total transaction of $1,722,720.00. The disclosure for this sale can be found here. In the last quarter, insiders have sold 43,409 shares of company stock valued at $3,392,097. 0.53% of the stock is owned by insiders.
CVS has been the topic of a number of analyst reports. Royal Bank of Canada reiterated a “buy” rating and set a $90.00 price objective on shares of CVS Health in a research note on Wednesday, August 8th. Citigroup restated a “buy” rating and issued a $81.00 price target on shares of CVS Health in a research note on Monday, July 9th. Bank of America lifted their price target on shares of CVS Health from $86.00 to $90.00 and gave the stock a “buy” rating in a research note on Monday, September 17th. Tigress Financial restated a “buy” rating on shares of CVS Health in a research note on Friday, October 26th. Finally, ValuEngine upgraded shares of CVS Health from a “sell” rating to a “hold” rating in a research note on Wednesday. One analyst has rated the stock with a sell rating, five have assigned a hold rating, ten have issued a buy rating and two have assigned a strong buy rating to the company. The stock presently has an average rating of “Buy” and an average target price of $86.18.
CVS Health Company 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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