CVS Health Corporation (CVS) Position Lessened by State of Tennessee Treasury Department

State of Tennessee Treasury Department decreased its position in shares of CVS Health Corporation (NYSE:CVS) by 0.3% during the 2nd quarter, according to its most recent disclosure with the SEC. The firm owned 353,653 shares of the pharmacy operator’s stock after selling 1,122 shares during the period. State of Tennessee Treasury Department’s holdings in CVS Health Corporation were worth $28,455,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently made changes to their positions in CVS. Boston Partners raised its stake in CVS Health Corporation by 69.1% during the second quarter. Boston Partners now owns 6,459,237 shares of the pharmacy operator’s stock worth $519,711,000 after purchasing an additional 2,638,888 shares during the period. Prudential Financial Inc. raised its stake in CVS Health Corporation by 61.8% during the second quarter. Prudential Financial Inc. now owns 2,946,531 shares of the pharmacy operator’s stock worth $237,078,000 after purchasing an additional 1,125,400 shares during the period. Canada Pension Plan Investment Board raised its stake in CVS Health Corporation by 89.8% during the second quarter. Canada Pension Plan Investment Board now owns 1,851,099 shares of the pharmacy operator’s stock worth $148,939,000 after purchasing an additional 876,027 shares during the period. Veritas Asset Management LLP raised its stake in CVS Health Corporation by 11.4% during the second quarter. Veritas Asset Management LLP now owns 8,438,564 shares of the pharmacy operator’s stock worth $678,967,000 after purchasing an additional 865,756 shares during the period. Finally, NN Investment Partners Holdings N.V. raised its stake in CVS Health Corporation by 141.2% during the second quarter. NN Investment Partners Holdings N.V. now owns 1,427,210 shares of the pharmacy operator’s stock worth $114,832,000 after purchasing an additional 835,476 shares during the period. 82.04% of the stock is currently owned by institutional investors and hedge funds.

Shares of CVS Health Corporation (NYSE:CVS) opened at $70.44 on Wednesday. CVS Health Corporation has a 52-week low of $66.45 and a 52-week high of $84.72. The company has a market cap of $72,408.67, a PE ratio of 12.52, a price-to-earnings-growth ratio of 1.23 and a beta of 0.86. 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 Corporation (NYSE:CVS) last released its quarterly earnings results on Monday, November 6th. The pharmacy operator reported $1.50 EPS for the quarter, topping analysts’ consensus estimates of $1.49 by $0.01. CVS Health Corporation had a net margin of 2.77% and a return on equity of 16.96%. The company had revenue of $46.18 billion for the quarter, compared to the consensus estimate of $46.17 billion. During the same period in the previous year, the firm earned $1.64 EPS. CVS Health Corporation’s revenue was up 3.5% on a year-over-year basis. sell-side analysts anticipate that CVS Health Corporation will post 5.89 earnings per share for the current fiscal year.

The business also recently declared 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 was Monday, October 23rd. This represents a $2.00 dividend on an annualized basis and a dividend yield of 2.84%. CVS Health Corporation’s dividend payout ratio (DPR) is 41.32%.

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In other news, EVP Thomas M. Moriarty sold 20,547 shares of CVS Health Corporation stock in a transaction that occurred on Monday, October 2nd. The shares were sold at an average price of $81.17, for a total value of $1,667,799.99. Following the transaction, the executive vice president now owns 43,178 shares of the company’s stock, valued at approximately $3,504,758.26. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Thomas M. Moriarty sold 90,267 shares of CVS Health Corporation stock in a transaction that occurred on Monday, September 11th. The stock was sold at an average price of $79.61, for a total transaction of $7,186,155.87. Following the completion of the transaction, the executive vice president now directly owns 70,102 shares in the company, valued at approximately $5,580,820.22. The disclosure for this sale can be found here. Insiders have sold a total of 714,125 shares of company stock worth $58,119,381 over the last 90 days. 0.61% of the stock is owned by insiders.

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

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

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