Curbstone Financial Management Corp reduced its stake in shares of CVS Health Co. (NYSE:CVS) by 3.4% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 35,036 shares of the pharmacy operator’s stock after selling 1,250 shares during the quarter. Curbstone Financial Management Corp’s holdings in CVS Health were worth $2,636,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors also recently modified their holdings of CVS. Norges Bank purchased a new stake in CVS Health in the fourth quarter valued at about $964,912,000. Boston Partners increased its holdings in shares of CVS Health by 259.0% in the fourth quarter. Boston Partners now owns 3,681,480 shares of the pharmacy operator’s stock valued at $251,445,000 after purchasing an additional 2,656,101 shares during the period. Caisse DE Depot ET Placement DU Quebec increased its holdings in shares of CVS Health by 33.3% in the fourth quarter. Caisse DE Depot ET Placement DU Quebec now owns 10,118,403 shares of the pharmacy operator’s stock valued at $691,087,000 after purchasing an additional 2,525,912 shares during the period. Lazard Asset Management LLC increased its holdings in shares of CVS Health by 50.6% in the fourth quarter. Lazard Asset Management LLC now owns 3,246,537 shares of the pharmacy operator’s stock valued at $221,736,000 after purchasing an additional 1,090,493 shares during the period. Finally, State of Tennessee Treasury Department increased its holdings in shares of CVS Health by 341.3% in the fourth quarter. State of Tennessee Treasury Department now owns 1,166,106 shares of the pharmacy operator’s stock valued at $79,645,000 after purchasing an additional 901,845 shares during the period. Hedge funds and other institutional investors own 74.21% of the company’s stock.
A number of brokerages have recently weighed in on CVS. SVB Leerink increased their price objective on CVS Health from $73.00 to $80.00 and gave the company a “market perform” rating in a report on Monday, December 14th. Jefferies Financial Group raised CVS Health from a “hold” rating to a “buy” rating and set a $90.00 price objective on the stock in a report on Friday, January 8th. Finally, Guggenheim reaffirmed a “neutral” rating on shares of CVS Health in a report on Tuesday, March 23rd. Four equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. The company currently has an average rating of “Buy” and a consensus price target of $82.08.
CVS traded down $0.41 during trading on Thursday, hitting $74.08. The company’s stock had a trading volume of 27,652 shares, compared to its average volume of 7,071,797. The company has a current ratio of 0.95, a quick ratio of 0.67 and a debt-to-equity ratio of 0.89. CVS Health Co. has a twelve month low of $55.36 and a twelve month high of $77.23. The business’s fifty day simple moving average is $72.43 and its 200 day simple moving average is $68.51. The firm has a market capitalization of $97.15 billion, a price-to-earnings ratio of 12.24, a P/E/G ratio of 1.72 and a beta of 0.82.
CVS Health (NYSE:CVS) last issued its quarterly earnings data on Monday, February 15th. The pharmacy operator reported $1.30 EPS for the quarter, beating the consensus estimate of $1.24 by $0.06. CVS Health had a return on equity of 15.60% and a net margin of 2.99%. The company had revenue of $69.55 billion for the quarter, compared to analyst estimates of $68.67 billion. During the same period last year, the company earned $1.73 earnings per share. As a group, equities research analysts forecast that CVS Health Co. will post 7.43 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, May 3rd. Shareholders of record on Friday, April 23rd will be issued a $0.50 dividend. This represents a $2.00 annualized dividend and a yield of 2.70%. The ex-dividend date of this dividend is Thursday, April 22nd. CVS Health’s payout ratio is currently 28.25%.
CVS Health Company Profile
CVS Health Corporation provides health services in the United States. The company's Pharmacy Services segment offers pharmacy benefit management solutions, including plan design and administration, formulary management, retail pharmacy network management, mail order pharmacy, specialty pharmacy and infusion, clinical, and disease and medical spend management services.
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