Paragon Capital Management LLC increased its stake in shares of CVS Health Corporation (NYSE:CVS) by 9.4% during the first quarter, according to its most recent disclosure with the SEC. The fund owned 138,575 shares of the pharmacy operator’s stock after buying an additional 11,889 shares during the period. CVS Health Corporation makes up 3.4% of Paragon Capital Management LLC’s holdings, making the stock its 16th largest position. Paragon Capital Management LLC’s holdings in CVS Health Corporation were worth $10,878,000 as of its most recent SEC filing.
Several other hedge funds have also made changes to their positions in the company. Patriot Financial Group Insurance Agency LLC bought a new position in shares of CVS Health Corporation during the fourth quarter valued at $156,000. Norges Bank acquired a new position in CVS Health Corporation during the fourth quarter valued at approximately $800,355,000. Sowell Financial Services LLC acquired a new position in CVS Health Corporation during the fourth quarter valued at approximately $140,000. Assenagon Asset Management S.A. acquired a new position in CVS Health Corporation during the fourth quarter valued at approximately $7,003,000. Finally, Jarislowsky Fraser Ltd increased its position in CVS Health Corporation by 7.6% in the fourth quarter. Jarislowsky Fraser Ltd now owns 1,634,518 shares of the pharmacy operator’s stock valued at $128,979,000 after buying an additional 115,421 shares during the period. 81.92% of the stock is currently owned by institutional investors and hedge funds.
CVS Health Corporation (CVS) traded up 0.34% during trading on Friday, reaching $79.41. 2,985,502 shares of the company’s stock were exchanged. CVS Health Corporation has a 12 month low of $69.30 and a 12 month high of $98.44. The firm has a 50 day moving average of $78.83 and a 200-day moving average of $78.96. The stock has a market cap of $80.73 billion, a PE ratio of 15.82 and a beta of 0.91.
CVS Health Corporation (NYSE:CVS) last issued its earnings results on Tuesday, August 8th. The pharmacy operator reported $1.33 EPS for the quarter, topping analysts’ consensus estimates of $1.31 by $0.02. CVS Health Corporation had a return on equity of 17.47% and a net margin of 2.93%. The firm had revenue of $45.69 billion for the quarter, compared to the consensus estimate of $45.36 billion. During the same quarter in the prior year, the business earned $1.32 earnings per share. The company’s revenue was up 4.5% compared to the same quarter last year. On average, equities research analysts anticipate that CVS Health Corporation will post $5.88 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Thursday, August 3rd. Investors of record on Monday, July 24th were issued a $0.50 dividend. The ex-dividend date of this dividend was Thursday, July 20th. This represents a $2.00 dividend on an annualized basis and a yield of 2.52%. CVS Health Corporation’s payout ratio is 39.92%.
Several equities analysts recently commented on CVS shares. Tigress Financial started coverage on shares of CVS Health Corporation in a research note on Thursday, April 27th. They issued a “buy” rating on the stock. Vetr downgraded shares of CVS Health Corporation from a “buy” rating to a “hold” rating and set a $85.78 price objective on the stock. in a research note on Thursday, April 27th. Evercore ISI reiterated an “outperform” rating and set a $88.00 price objective (up from $87.00) on shares of CVS Health Corporation in a research note on Wednesday, May 3rd. ValuEngine downgraded shares of CVS Health Corporation from a “buy” rating to a “hold” rating in a research note on Friday, June 2nd. Finally, Jefferies Group LLC restated a “hold” rating and issued a $82.00 price target on shares of CVS Health Corporation in a research note on Friday, June 9th. Eight research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. The company has an average rating of “Buy” and an average target price of $91.27.
In related news, CFO David M. Denton sold 230,510 shares of the stock in a transaction that occurred on Monday, June 12th. The stock was sold at an average price of $80.00, for a total value of $18,440,800.00. Following the completion of the sale, the chief financial officer now owns 176,983 shares of the company’s stock, valued at $14,158,640. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, EVP Helena Foulkes sold 20,333 shares of the stock in a transaction that occurred on Monday, June 26th. The shares were sold at an average price of $80.00, for a total value of $1,626,640.00. Following the completion of the sale, the executive vice president now directly owns 59,301 shares of the company’s stock, valued at approximately $4,744,080. The disclosure for this sale can be found here. Insiders sold a total of 271,175 shares of company stock valued at $21,632,597 in the last ninety days. 0.61% of the stock is currently owned by insiders.
About CVS Health Corporation
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.
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