SFE Investment Counsel decreased its stake in CVS Health Corp (NYSE:CVS) by 37.4% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 2,720 shares of the pharmacy operator’s stock after selling 1,625 shares during the period. SFE Investment Counsel’s holdings in CVS Health were worth $214,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds also recently modified their holdings of the company. Camarda Financial Advisors LLC acquired a new stake in shares of CVS Health in the second quarter valued at about $102,000. Kiley Juergens Wealth Management LLC bought a new stake in shares of CVS Health during the 2nd quarter valued at about $103,000. Legacy Advisors LLC boosted its position in shares of CVS Health by 7,100.0% during the 2nd 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 in the last quarter. Squar Milner Financial Services LLC bought a new stake in shares of CVS Health during the 2nd quarter valued at about $122,000. Finally, Canton Hathaway LLC bought a new stake in shares of CVS Health during the 3rd quarter valued at about $126,000. 82.42% of the stock is owned by institutional investors.
Several equities research analysts recently commented on the company. Wolfe Research assumed coverage on CVS Health in a research report on Thursday, October 25th. They set a “peer perform” rating on the stock. Leerink Swann set a $80.00 target price on CVS Health and gave the company an “outperform” rating in a research report on Thursday, August 9th. Royal Bank of Canada set a $99.00 target price on CVS Health and gave the company a “buy” rating in a research report on Tuesday, October 23rd. ValuEngine lowered CVS Health from a “sell” rating to a “strong sell” rating in a research report on Tuesday, September 4th. Finally, Tigress Financial restated a “buy” rating on shares of CVS Health in a research report on Friday, October 26th. One research analyst has rated the stock with a sell rating, five have given a hold rating, ten have assigned a buy rating and two have issued a strong buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average price target of $86.18.
CVS Health (NYSE:CVS) last announced its quarterly earnings results on Tuesday, November 6th. The pharmacy operator reported $1.73 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.71 by $0.02. The business had revenue of $47.27 billion for the quarter, compared to analyst estimates of $47.22 billion. CVS Health had a return on equity of 18.25% and a net margin of 1.61%. The company’s quarterly revenue was up 2.4% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.50 earnings per share. Equities research analysts anticipate that CVS Health Corp will post 7.04 earnings per share for the current year.
The company also recently declared a quarterly dividend, which was paid on Thursday, November 1st. Shareholders of record on Wednesday, October 24th were issued a $0.50 dividend. The ex-dividend date was Tuesday, October 23rd. This represents a $2.00 annualized dividend and a yield of 2.57%. CVS Health’s payout ratio is currently 33.90%.
In other CVS Health news, EVP Kevin Hourican sold 8,564 shares of the stock in a transaction that occurred on Monday, August 27th. The stock was sold at an average price of $75.00, for a total value of $642,300.00. Following the transaction, the executive vice president now owns 12,135 shares in the company, valued at $910,125. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, EVP Eva C. Boratto sold 13,311 shares of the stock in a transaction that occurred on Monday, September 17th. The stock was sold at an average price of $77.16, for a total value of $1,027,076.76. Following the completion of the transaction, the executive vice president now owns 55,162 shares in the company, valued at approximately $4,256,299.92. The disclosure for this sale can be found here. In the last quarter, insiders sold 43,409 shares of company stock worth $3,392,097. Corporate insiders own 0.53% of the company’s stock.
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About CVS Health
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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