Boston Partners raised its stake in CVS Health Corp (NYSE:CVS) by 16.2% during the 3rd quarter, HoldingsChannel.com reports. The fund owned 7,507,793 shares of the pharmacy operator’s stock after acquiring an additional 1,048,556 shares during the period. CVS Health makes up about 0.8% of Boston Partners’ investment portfolio, making the stock its 29th largest position. Boston Partners’ holdings in CVS Health were worth $610,534,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other institutional investors also recently added to or reduced their stakes in the business. Jackson Grant Investment Advisers Inc. raised its holdings in CVS Health by 0.6% in the 2nd quarter. Jackson Grant Investment Advisers Inc. now owns 2,881 shares of the pharmacy operator’s stock valued at $232,000 after acquiring an additional 18 shares during the period. Elefante Mark B raised its holdings in CVS Health by 0.7% in the 2nd quarter. Elefante Mark B now owns 6,400 shares of the pharmacy operator’s stock valued at $515,000 after acquiring an additional 45 shares during the period. Traynor Capital Management Inc. raised its holdings in CVS Health by 1.3% in the 2nd quarter. Traynor Capital Management Inc. now owns 3,676 shares of the pharmacy operator’s stock valued at $290,000 after acquiring an additional 48 shares during the period. Sequoia Financial Advisors LLC raised its holdings in CVS Health by 0.8% in the 2nd quarter. Sequoia Financial Advisors LLC now owns 6,406 shares of the pharmacy operator’s stock valued at $515,000 after acquiring an additional 53 shares during the period. Finally, Brookstone Capital Management raised its holdings in CVS Health by 1.8% in the 2nd quarter. Brookstone Capital Management now owns 3,153 shares of the pharmacy operator’s stock valued at $254,000 after acquiring an additional 55 shares during the period. 81.62% of the stock is currently owned by hedge funds and other institutional investors.
In other CVS Health news, EVP Lisa Bisaccia sold 29,445 shares of the firm’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 sale, the executive vice president now owns 15,556 shares in the company, valued at $1,166,700. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.61% of the company’s stock.
CVS Health (NYSE:CVS) last issued its earnings results on Monday, November 6th. The pharmacy operator reported $1.50 earnings per share for the quarter, beating analysts’ consensus estimates of $1.49 by $0.01. CVS Health had a net margin of 2.77% and a return on equity of 16.96%. The firm had revenue of $46.18 billion for the quarter, compared to analyst estimates of $46.17 billion. During the same quarter last year, the business posted $1.64 earnings per share. The company’s quarterly revenue was up 3.5% on a year-over-year basis. equities analysts anticipate that CVS Health Corp will post 5.9 EPS for the current fiscal year.
The business 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. The ex-dividend date is Tuesday, January 23rd. This represents a $2.00 dividend on an annualized basis and a yield of 2.58%. CVS Health’s dividend payout ratio is currently 41.32%.
Several research analysts have weighed in on CVS shares. Jefferies Group set a $76.00 price target on shares of CVS Health and gave the company a “hold” rating in a report on Monday, December 4th. Royal Bank of Canada started coverage on shares of CVS Health in a report on Tuesday, September 19th. They set an “outperform” rating and a $95.00 target price on the stock. Vetr cut shares of CVS Health from a “buy” rating to a “hold” rating and set a $77.11 target price on the stock. in a report on Thursday, January 4th. Robert W. Baird reaffirmed a “hold” rating and set a $77.00 target price on shares of CVS Health in a report on Friday, October 27th. Finally, UBS Group raised shares of CVS Health from an “outperform” rating to a “strong-buy” rating in a report on Thursday, January 4th. One analyst has rated the stock with a sell rating, nine have assigned a hold rating, twelve have issued a buy rating and two have assigned a strong buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $86.66.
CVS Health 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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