CVS Health Corporation (CVS) Shares Sold by Pacad Investment Ltd.

Pacad Investment Ltd. decreased its holdings in shares of CVS Health Corporation (NYSE:CVS) by 84.2% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 24,000 shares of the pharmacy operator’s stock after selling 128,190 shares during the period. Pacad Investment Ltd.’s holdings in CVS Health Corporation were worth $1,931,000 at the end of the most recent reporting period.

Several other institutional investors have also made changes to their positions in the stock. Keel Point LLC raised its stake in shares of CVS Health Corporation by 0.7% in the first quarter. Keel Point LLC now owns 3,296 shares of the pharmacy operator’s stock worth $259,000 after purchasing an additional 22 shares during the last quarter. First City Capital Management Inc. raised its stake in shares of CVS Health Corporation by 0.3% in the first quarter. First City Capital Management Inc. now owns 12,771 shares of the pharmacy operator’s stock worth $1,003,000 after purchasing an additional 40 shares during the last quarter. Elefante Mark B raised its stake in shares of CVS Health Corporation by 0.7% in the second quarter. Elefante Mark B now owns 6,400 shares of the pharmacy operator’s stock worth $515,000 after purchasing an additional 45 shares during the last quarter. Traynor Capital Management Inc. raised its stake in shares of CVS Health Corporation by 1.3% in the second quarter. Traynor Capital Management Inc. now owns 3,676 shares of the pharmacy operator’s stock worth $290,000 after purchasing an additional 48 shares during the last quarter. Finally, Norway Savings Bank raised its stake in shares of CVS Health Corporation by 0.3% in the second quarter. Norway Savings Bank now owns 17,014 shares of the pharmacy operator’s stock worth $1,368,000 after purchasing an additional 50 shares during the last quarter. Institutional investors own 82.04% of the company’s stock.

In other CVS Health Corporation news, CFO David M. Denton sold 237,078 shares of CVS Health Corporation stock in a transaction that occurred on Monday, September 11th. The stock was sold at an average price of $79.65, for a total transaction of $18,883,262.70. Following the sale, the chief financial officer now directly owns 141,096 shares of the company’s stock, valued at approximately $11,238,296.40. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Larry J. Merlo sold 241,150 shares of CVS Health Corporation stock in a transaction that occurred on Wednesday, September 13th. The shares were sold at an average price of $83.07, for a total value of $20,032,330.50. Following the sale, the insider now directly owns 299,255 shares in the company, valued at $24,859,112.85. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 716,625 shares of company stock worth $58,318,431. Insiders own 0.61% of the company’s stock.

Shares of CVS Health Corporation (CVS) opened at $70.99 on Monday. The company has a quick ratio of 0.55, a current ratio of 1.05 and a debt-to-equity ratio of 0.67. The stock has a market capitalization of $71,912.30, a PE ratio of 12.43, a P/E/G ratio of 1.22 and a beta of 0.86. CVS Health Corporation has a 12 month low of $66.45 and a 12 month high of $84.72.

CVS Health Corporation (NYSE:CVS) last posted its earnings results on Monday, November 6th. The pharmacy operator reported $1.50 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.49 by $0.01. The company had revenue of $46.18 billion for the quarter, compared to analysts’ expectations of $46.17 billion. CVS Health Corporation had a return on equity of 16.96% and a net margin of 2.77%. CVS Health Corporation’s quarterly revenue was up 3.5% on a year-over-year basis. During the same period last year, the firm earned $1.64 earnings per share. analysts predict that CVS Health Corporation will post 5.89 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which was paid on Friday, November 3rd. Shareholders of record on Tuesday, October 24th were given a dividend of $0.50 per share. The ex-dividend date of this dividend was Monday, October 23rd. This represents a $2.00 annualized dividend and a yield of 2.82%. CVS Health Corporation’s payout ratio is 41.32%.

Several research firms have recently issued reports on CVS. Needham & Company LLC reaffirmed a “hold” rating on shares of CVS Health Corporation in a report on Sunday, September 10th. Oppenheimer Holdings, Inc. reaffirmed a “buy” rating and issued a $95.00 target price on shares of CVS Health Corporation in a report on Monday, October 9th. BidaskClub lowered CVS Health Corporation from a “hold” rating to a “sell” rating in a report on Friday, August 25th. SunTrust Banks, Inc. set a $85.00 target price on CVS Health Corporation and gave the company a “buy” rating in a report on Thursday, October 12th. Finally, Leerink Swann reaffirmed an “outperform” rating and issued a $85.00 target price (down from $90.00) on shares of CVS Health Corporation in a report on Tuesday, November 7th. One analyst has rated the stock with a sell rating, eight have given a hold rating and fourteen have given a buy rating to the stock. CVS Health Corporation presently has an average rating of “Buy” and a consensus target price of $85.82.

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About CVS Health Corporation

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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Institutional Ownership by Quarter for CVS Health Corporation (NYSE:CVS)

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