Prudential Financial Inc. Grows Position in CVS Health Corp (CVS)

Prudential Financial Inc. increased its holdings in CVS Health Corp (NYSE:CVS) by 13.1% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,332,567 shares of the pharmacy operator’s stock after purchasing an additional 386,036 shares during the quarter. Prudential Financial Inc.’s holdings in CVS Health were worth $271,004,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Pathstone Family Office LLC raised its holdings in shares of CVS Health by 341.0% during the second quarter. Pathstone Family Office LLC now owns 1,270 shares of the pharmacy operator’s stock valued at $2,353,000 after acquiring an additional 982 shares during the period. Fieldpoint Private Securities LLC raised its holdings in shares of CVS Health by 333.3% during the second quarter. Fieldpoint Private Securities LLC now owns 1,300 shares of the pharmacy operator’s stock valued at $105,000 after acquiring an additional 1,000 shares during the period. Arcadia Investment Management Corp MI raised its holdings in shares of CVS Health by 119.6% during the third quarter. Arcadia Investment Management Corp MI now owns 1,333 shares of the pharmacy operator’s stock valued at $108,000 after acquiring an additional 726 shares during the period. MPS Loria Financial Planners LLC acquired a new stake in shares of CVS Health during the second quarter valued at approximately $119,000. Finally, Gemmer Asset Management LLC raised its holdings in shares of CVS Health by 15.3% during the second quarter. Gemmer Asset Management LLC now owns 1,509 shares of the pharmacy operator’s stock valued at $121,000 after acquiring an additional 200 shares during the period. Institutional investors and hedge funds own 81.62% of the company’s stock.

Shares of CVS Health Corp (NYSE CVS) opened at $77.69 on Wednesday. The company has a debt-to-equity ratio of 0.67, a current ratio of 1.05 and a quick ratio of 0.55. The company has a market cap of $78,700.00, a P/E ratio of 16.05, a price-to-earnings-growth ratio of 1.38 and a beta of 0.90. CVS Health Corp has a 1 year low of $66.45 and a 1 year high of $84.72.

CVS Health (NYSE:CVS) last posted its earnings results on Monday, November 6th. The pharmacy operator reported $1.50 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.49 by $0.01. The company had revenue of $46.18 billion during the quarter, compared to the consensus estimate of $46.17 billion. CVS Health had a net margin of 2.77% and a return on equity of 16.96%. The company’s revenue for the quarter was up 3.5% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.64 earnings per share. sell-side analysts predict that CVS Health Corp will post 5.9 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, February 2nd. Shareholders of record on Wednesday, January 24th will be given a $0.50 dividend. This represents a $2.00 annualized dividend and a yield of 2.57%. The ex-dividend date is Tuesday, January 23rd. CVS Health’s dividend payout ratio is 41.32%.

CVS has been the topic of a number of recent analyst reports. Oppenheimer restated a “buy” rating and set a $95.00 price target on shares of CVS Health in a report on Monday, October 9th. SunTrust Banks set a $85.00 price target on shares of CVS Health and gave the company a “buy” rating in a report on Thursday, October 12th. Mizuho set a $90.00 price objective on shares of CVS Health and gave the company a “buy” rating in a research report on Tuesday, October 24th. Cowen set a $86.00 price objective on shares of CVS Health and gave the company a “buy” rating in a research report on Sunday, October 29th. Finally, Needham & Company LLC raised shares of CVS Health from a “hold” rating to a “buy” rating and boosted their price objective for the company from $69.02 to $79.00 in a research report on Friday, November 10th. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating, twelve have issued a buy rating and two have issued a strong buy rating to the stock. The company has an average rating of “Buy” and a consensus price target of $86.66.

In other CVS Health news, EVP Lisa Bisaccia sold 29,445 shares of the business’s stock in a transaction that occurred 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 $1,166,700. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.61% of the company’s stock.

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CVS Health Company Profile

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

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