Lipe & Dalton reduced its stake in shares of CVS Health Corporation (NYSE:CVS) by 21.5% during the third quarter, Holdings Channel reports. The firm owned 2,558 shares of the pharmacy operator’s stock after selling 700 shares during the period. Lipe & Dalton’s holdings in CVS Health Corporation were worth $228,000 at the end of the most recent reporting period.
A number of other hedge funds have also recently bought and sold shares of the stock. Boston Partners raised its stake in CVS Health Corporation by 48.3% in the third quarter. Boston Partners now owns 4,474,349 shares of the pharmacy operator’s stock valued at $398,172,000 after buying an additional 1,456,835 shares during the period. Canada Pension Plan Investment Board raised its stake in CVS Health Corporation by 101.7% in the third quarter. Canada Pension Plan Investment Board now owns 2,807,795 shares of the pharmacy operator’s stock valued at $249,866,000 after buying an additional 1,415,802 shares during the period. Westwood Holdings Group Inc. raised its stake in CVS Health Corporation by 1,125.2% in the second quarter. Westwood Holdings Group Inc. now owns 1,516,808 shares of the pharmacy operator’s stock valued at $145,220,000 after buying an additional 1,393,009 shares during the period. Sentry Investments Corp. raised its stake in CVS Health Corporation by 62.1% in the second quarter. Sentry Investments Corp. now owns 3,532,600 shares of the pharmacy operator’s stock valued at $338,211,000 after buying an additional 1,353,000 shares during the period. Finally, CGOV Asset Management purchased a new stake in CVS Health Corporation during the third quarter valued at $117,815,000. 81.34% of the stock is currently owned by institutional investors.
Shares of CVS Health Corporation (NYSE:CVS) traded down 1.99% during midday trading on Friday, reaching $77.75. The company’s stock had a trading volume of 10,924,374 shares. CVS Health Corporation has a 12 month low of $69.30 and a 12 month high of $106.67. The stock has a market capitalization of $82.92 billion, a P/E ratio of 16.66 and a beta of 0.84. The stock’s 50-day moving average is $80.54 and its 200 day moving average is $86.55.
CVS Health Corporation (NYSE:CVS) last issued its quarterly earnings results on Tuesday, November 8th. The pharmacy operator reported $1.64 earnings per share for the quarter, beating analysts’ consensus estimates of $1.57 by $0.07. CVS Health Corporation had a return on equity of 17.18% and a net margin of 2.96%. The business had revenue of $44.60 billion for the quarter, compared to the consensus estimate of $45.29 billion. During the same quarter in the previous year, the company posted $1.28 earnings per share. CVS Health Corporation’s revenue for the quarter was up 15.5% compared to the same quarter last year. On average, analysts expect that CVS Health Corporation will post $5.81 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Thursday, February 2nd. Shareholders of record on Tuesday, January 24th will be paid a $0.50 dividend. The ex-dividend date is Friday, January 20th. This represents a $2.00 dividend on an annualized basis and a yield of 2.57%. This is an increase from CVS Health Corporation’s previous quarterly dividend of $0.43. CVS Health Corporation’s payout ratio is 42.83%.
CVS has been the topic of several research reports. Credit Suisse Group reissued an “outperform” rating and issued a $110.00 target price (down previously from $115.00) on shares of CVS Health Corporation in a report on Tuesday, October 4th. Robert W. Baird decreased their price objective on CVS Health Corporation from $114.00 to $104.00 and set an “outperform” rating on the stock in a research note on Monday, October 3rd. Leerink Swann reaffirmed an “outperform” rating and set a $105.00 price objective (down previously from $110.00) on shares of CVS Health Corporation in a research note on Sunday, October 2nd. Vetr raised CVS Health Corporation from a “buy” rating to a “strong-buy” rating and set a $98.36 price objective on the stock in a research note on Monday, October 24th. Finally, Guggenheim reaffirmed a “buy” rating and set a $90.00 price objective on shares of CVS Health Corporation in a research note on Tuesday, December 13th. Six equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. The stock has an average rating of “Buy” and a consensus price target of $101.77.
About CVS Health Corporation
CVS Health Corporation, together with its subsidiaries (CVS Health), is a pharmacy company. The Company operates through three business segments: Pharmacy Services, Retail/LTC and Corporate. The Company offers a range of products and services, such as advising patients on their medications at its CVS Pharmacy locations, introducing programs to help control costs for its clients at CVS Caremark, how care is delivered to its patients with conditions through CVS Specialty, pharmacy care for the senior community through Omnicare.
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