Beese Fulmer Investment Management Inc. grew its stake in shares of CVS Health Corp (NYSE:CVS) by 954.3% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 84,253 shares of the pharmacy operator’s stock after acquiring an additional 76,262 shares during the quarter. Beese Fulmer Investment Management Inc.’s holdings in CVS Health were worth $4,544,000 as of its most recent SEC filing.
Several other large investors also recently modified their holdings of the company. Oregon Public Employees Retirement Fund increased its holdings in CVS Health by 6,858.5% in the 4th quarter. Oregon Public Employees Retirement Fund now owns 25,089,377 shares of the pharmacy operator’s stock worth $383,000 after buying an additional 24,728,818 shares in the last quarter. BlackRock Inc. increased its holdings in CVS Health by 22.0% in the 4th quarter. BlackRock Inc. now owns 92,954,958 shares of the pharmacy operator’s stock worth $6,090,409,000 after buying an additional 16,757,941 shares in the last quarter. Norges Bank bought a new stake in CVS Health in the 4th quarter worth about $840,254,000. FMR LLC grew its stake in shares of CVS Health by 30.6% during the 4th quarter. FMR LLC now owns 39,263,265 shares of the pharmacy operator’s stock valued at $2,572,528,000 after purchasing an additional 9,194,005 shares during the period. Finally, Geode Capital Management LLC grew its stake in shares of CVS Health by 36.2% during the 4th quarter. Geode Capital Management LLC now owns 16,462,292 shares of the pharmacy operator’s stock valued at $1,076,697,000 after purchasing an additional 4,376,604 shares during the period. Hedge funds and other institutional investors own 78.49% of the company’s stock.
A number of research firms have issued reports on CVS. Morgan Stanley set a $92.00 price target on CVS Health and gave the company a “buy” rating in a research note on Friday, February 22nd. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $80.00 price objective on shares of CVS Health in a research report on Thursday, February 21st. BMO Capital Markets set a $63.00 price objective on CVS Health and gave the company a “hold” rating in a research report on Friday, May 3rd. Barclays set a $73.00 price objective on CVS Health and gave the company a “buy” rating in a research report on Thursday, April 11th. Finally, ValuEngine raised CVS Health from a “strong sell” rating to a “sell” rating in a research report on Friday, May 3rd. Two analysts have rated the stock with a sell rating, seven have given a hold rating, fifteen have assigned a buy rating and one has assigned a strong buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus price target of $77.62.
NYSE:CVS traded up $0.28 during trading hours on Friday, reaching $53.07. The stock had a trading volume of 5,592,987 shares, compared to its average volume of 11,002,900. The company has a market cap of $69.53 billion, a price-to-earnings ratio of 7.50, a PEG ratio of 1.05 and a beta of 0.93. The company has a debt-to-equity ratio of 1.45, a current ratio of 0.95 and a quick ratio of 0.64. CVS Health Corp has a 52 week low of $51.72 and a 52 week high of $82.15.
CVS Health (NYSE:CVS) last released its earnings results on Wednesday, May 1st. The pharmacy operator reported $1.62 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.50 by $0.12. The firm had revenue of $61.65 billion for the quarter, compared to the consensus estimate of $60.39 billion. CVS Health had a positive return on equity of 16.80% and a negative net margin of 0.08%. The company’s revenue for the quarter was up 34.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.48 EPS. As a group, analysts anticipate that CVS Health Corp will post 6.83 EPS for the current year.
The business also recently announced a quarterly dividend, which was paid on Friday, May 3rd. Stockholders of record on Tuesday, April 23rd were given a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a dividend yield of 3.77%. The ex-dividend date was Monday, April 22nd. CVS Health’s dividend payout ratio is currently 28.25%.
In other CVS Health news, Director Edward J. Ludwig acquired 4,000 shares of the business’s stock in a transaction on Friday, March 1st. The shares were bought at an average price of $58.27 per share, with a total value of $233,080.00. Following the transaction, the director now directly owns 5,378 shares of the company’s stock, valued at approximately $313,376.06. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP James David Clark sold 1,664 shares of the company’s stock in a transaction on Friday, March 1st. The shares were sold at an average price of $58.14, for a total value of $96,744.96. Following the completion of the transaction, the senior vice president now directly owns 8,557 shares in the company, valued at approximately $497,503.98. The disclosure for this sale can be found here. In the last three months, insiders have bought 23,600 shares of company stock worth $1,270,896. Corporate insiders own 0.53% of the company’s stock.
CVS Health Company Profile
CVS Health Corporation provides health services and plans in the United States. Its Pharmacy Services segment offers pharmacy benefit management solutions, such as plan design and administration, formulary management, retail pharmacy network management, mail order pharmacy, specialty pharmacy and infusion, Medicare Part D, clinical, disease management, and medical spend management services.
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