Lincoln National Corp lessened its stake in CVS Health Corp (NYSE:CVS) by 24.0% during the third quarter, Holdings Channel reports. The firm owned 6,033 shares of the pharmacy operator’s stock after selling 1,904 shares during the period. Lincoln National Corp’s holdings in CVS Health were worth $490,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds also recently made changes to their positions in CVS. Cypress Capital Group lifted its holdings in CVS Health by 192.1% in the 1st quarter. Cypress Capital Group now owns 33,727 shares of the pharmacy operator’s stock worth $2,648,000 after buying an additional 22,180 shares in the last quarter. New England Asset Management Inc. lifted its holdings in CVS Health by 0.6% in the 1st quarter. New England Asset Management Inc. now owns 32,624 shares of the pharmacy operator’s stock worth $2,561,000 after buying an additional 200 shares in the last quarter. Gotham Asset Management LLC lifted its holdings in CVS Health by 2.5% in the 1st quarter. Gotham Asset Management LLC now owns 1,082,388 shares of the pharmacy operator’s stock worth $84,967,000 after buying an additional 26,547 shares in the last quarter. Endurant Capital Management LP lifted its holdings in CVS Health by 24.9% in the 1st quarter. Endurant Capital Management LP now owns 58,100 shares of the pharmacy operator’s stock worth $4,561,000 after buying an additional 11,600 shares in the last quarter. Finally, Sterling Investment Advisors Ltd. lifted its holdings in CVS Health by 2.1% in the 1st quarter. Sterling Investment Advisors Ltd. now owns 15,017 shares of the pharmacy operator’s stock worth $1,179,000 after buying an additional 303 shares in the last quarter. Institutional investors own 81.63% of the company’s stock.
Shares of CVS Health Corp (CVS) opened at $78.45 on Friday. The company has a debt-to-equity ratio of 0.67, a quick ratio of 0.55 and a current ratio of 1.05. CVS Health Corp has a 1 year low of $66.45 and a 1 year high of $84.72. The firm has a market cap of $79,470.00, a PE ratio of 16.21, a P/E/G ratio of 1.32 and a beta of 0.90.
CVS Health (NYSE:CVS) last announced its quarterly earnings data 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 business had revenue of $46.18 billion during the quarter, compared to the consensus estimate of $46.17 billion. During the same quarter in the prior year, the firm earned $1.64 EPS. The company’s revenue for the quarter was up 3.5% compared to the same quarter last year. research analysts expect that CVS Health Corp will post 5.9 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, February 2nd. Investors of record on Wednesday, January 24th will be given a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a dividend yield of 2.55%. The ex-dividend date of this dividend is Tuesday, January 23rd. CVS Health’s dividend payout ratio is presently 41.32%.
A number of brokerages have commented on CVS. SunTrust Banks boosted their price objective on shares of CVS Health to $90.00 and gave the stock a “buy” rating in a report on Friday. Morgan Stanley upgraded shares of CVS Health from an “equal weight” rating to an “overweight” rating and set a $88.00 price objective on the stock in a report on Friday. Vetr lowered shares of CVS Health from a “buy” rating to a “hold” rating and set a $77.11 price objective on the stock. in a report on Thursday. Raymond James Financial upgraded shares of CVS Health from an “outperform” rating to a “strong-buy” rating and set a $90.00 price objective on the stock in a report on Thursday. They noted that the move was a valuation call. Finally, UBS Group raised shares of CVS Health from an “outperform” rating to a “strong-buy” rating in a research report on Thursday. One investment 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 company. The stock currently has a consensus rating of “Buy” and an average target price of $86.42.
In related news, EVP Lisa Bisaccia sold 29,445 shares of the business’s stock in a transaction dated Thursday, December 21st. The shares were sold at an average price of $75.00, for a total transaction of $2,208,375.00. Following the completion of the sale, the executive vice president now owns 15,556 shares of the company’s stock, valued at approximately $1,166,700. The sale was disclosed in a legal filing with the SEC, which is available through this link. 0.61% of the stock is owned by corporate insiders.
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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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