Caxton Associates LP bought a new stake in CVS Health Corp (NYSE:CVS) in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 3,800 shares of the pharmacy operator’s stock, valued at approximately $309,000.
Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. Vanguard Group Inc. raised its stake in shares of CVS Health by 1.4% in the second quarter. Vanguard Group Inc. now owns 76,557,597 shares of the pharmacy operator’s stock valued at $6,159,825,000 after purchasing an additional 1,056,265 shares in the last quarter. FMR LLC raised its stake in shares of CVS Health by 22.0% in the second quarter. FMR LLC now owns 30,150,634 shares of the pharmacy operator’s stock valued at $2,425,920,000 after purchasing an additional 5,446,930 shares in the last quarter. Northern Trust Corp raised its stake in shares of CVS Health by 5.5% in the second quarter. Northern Trust Corp now owns 15,618,081 shares of the pharmacy operator’s stock valued at $1,256,631,000 after purchasing an additional 807,639 shares in the last quarter. Nordea Investment Management AB raised its stake in shares of CVS Health by 8.4% in the second quarter. Nordea Investment Management AB now owns 14,154,922 shares of the pharmacy operator’s stock valued at $1,138,905,000 after purchasing an additional 1,100,373 shares in the last quarter. Finally, Dimensional Fund Advisors LP raised its stake in shares of CVS Health by 4.1% in the third quarter. Dimensional Fund Advisors LP now owns 10,856,659 shares of the pharmacy operator’s stock valued at $882,860,000 after purchasing an additional 430,377 shares in the last quarter. Institutional investors and hedge funds own 81.69% of the company’s stock.
Several research analysts have issued reports on CVS shares. Robert W. Baird reiterated a “hold” rating and set a $77.00 price objective on shares of CVS Health in a research note on Friday, October 27th. Needham & Company LLC upgraded CVS Health from a “hold” rating to a “buy” rating and increased their price objective for the stock from $69.02 to $79.00 in a research note on Friday, November 10th. Deutsche Bank reiterated a “hold” rating on shares of CVS Health in a research note on Tuesday, December 5th. Mizuho set a $90.00 price objective on CVS Health and gave the stock a “buy” rating in a research note on Tuesday, October 24th. Finally, Raymond James Financial reiterated a “buy” rating on shares of CVS Health in a research note on Monday, December 4th. Two research analysts have rated the stock with a sell rating, seven have given a hold rating, eleven have assigned a buy rating and three have issued a strong buy rating to the company. The company has an average rating of “Buy” and an average price target of $88.27.
Shares of CVS Health Corp (NYSE:CVS) opened at $70.55 on Friday. CVS Health Corp has a 12 month low of $66.45 and a 12 month high of $84.00. The firm has a market capitalization of $75,315.95, a price-to-earnings ratio of 13.02, a PEG ratio of 1.24 and a beta of 0.93. The company has a quick ratio of 0.55, a current ratio of 1.05 and a debt-to-equity ratio of 0.67.
CVS Health (NYSE:CVS) last announced its earnings results on Thursday, February 8th. The pharmacy operator reported $1.92 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.88 by $0.04. CVS Health had a return on equity of 16.96% and a net margin of 2.77%. The company had revenue of $48.39 billion during the quarter, compared to analyst estimates of $47.54 billion. During the same period last year, the company posted $1.71 earnings per share. The firm’s quarterly revenue was up 5.3% compared to the same quarter last year. sell-side analysts predict that CVS Health Corp will post 5.88 EPS for the current year.
The company also recently declared a quarterly dividend, which was paid on Friday, February 2nd. Investors of record on Wednesday, January 24th were issued a $0.50 dividend. This represents a $2.00 annualized dividend and a yield of 2.83%. The ex-dividend date of this dividend was Tuesday, January 23rd. CVS Health’s dividend payout ratio is 41.32%.
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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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