Checchi Capital Advisers LLC Increases Holdings in CVS Health Corp (CVS)

Checchi Capital Advisers LLC raised its stake in CVS Health Corp (NYSE:CVS) by 15.6% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 9,377 shares of the pharmacy operator’s stock after buying an additional 1,266 shares during the quarter. Checchi Capital Advisers LLC’s holdings in CVS Health were worth $738,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Kiley Juergens Wealth Management LLC lifted its position in shares of CVS Health by 41.5% in the third quarter. Kiley Juergens Wealth Management LLC now owns 2,270 shares of the pharmacy operator’s stock worth $178,000 after purchasing an additional 666 shares in the last quarter. Northwest Investment Counselors LLC lifted its position in shares of CVS Health by 2.5% in the third quarter. Northwest Investment Counselors LLC now owns 29,103 shares of the pharmacy operator’s stock worth $2,291,000 after purchasing an additional 704 shares in the last quarter. Security National Bank of Sioux City Iowa IA lifted its position in shares of CVS Health by 3.3% in the second quarter. Security National Bank of Sioux City Iowa IA now owns 22,523 shares of the pharmacy operator’s stock worth $1,449,000 after purchasing an additional 720 shares in the last quarter. Twin Capital Management Inc. lifted its position in shares of CVS Health by 0.7% in the second quarter. Twin Capital Management Inc. now owns 108,530 shares of the pharmacy operator’s stock worth $6,984,000 after purchasing an additional 730 shares in the last quarter. Finally, Hodges Capital Management Inc. lifted its position in shares of CVS Health by 12.4% in the third quarter. Hodges Capital Management Inc. now owns 6,778 shares of the pharmacy operator’s stock worth $534,000 after purchasing an additional 746 shares in the last quarter. 82.62% of the stock is currently owned by hedge funds and other institutional investors.

A number of analysts have recently commented on the stock. Royal Bank of Canada reissued a “buy” rating and issued a $90.00 price objective on shares of CVS Health in a research report on Wednesday, August 8th. Leerink Swann set a $80.00 price objective on shares of CVS Health and gave the stock an “outperform” rating in a research report on Thursday, August 9th. Citigroup reissued a “buy” rating and issued a $81.00 price objective on shares of CVS Health in a research report on Monday, July 9th. ValuEngine raised shares of CVS Health from a “strong sell” rating to a “sell” rating in a research report on Monday, September 10th. Finally, Wolfe Research assumed coverage on shares of CVS Health in a research report on Thursday, October 25th. They issued a “peer perform” rating on the stock. One analyst has rated the stock with a sell rating, five have given a hold rating, ten 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 a consensus target price of $86.18.

In related news, EVP Kevin Hourican sold 8,564 shares of the business’s stock in a transaction on Monday, August 27th. The shares were sold at an average price of $75.00, for a total transaction of $642,300.00. Following the transaction, the executive vice president now directly owns 12,135 shares in the company, valued at $910,125. The sale was disclosed in a filing with the SEC, which is available through this link. Also, EVP Lisa Bisaccia sold 21,534 shares of the business’s stock in a transaction on Monday, October 1st. The stock was sold at an average price of $80.00, for a total transaction of $1,722,720.00. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 43,409 shares of company stock worth $3,392,097. 0.53% of the stock is owned by corporate insiders.

Shares of CVS opened at $73.09 on Friday. The firm has a market cap of $74.41 billion, a P/E ratio of 11.09, a PEG ratio of 0.97 and a beta of 0.98. CVS Health Corp has a 1-year low of $60.14 and a 1-year high of $83.88. The company has a debt-to-equity ratio of 1.73, a quick ratio of 1.87 and a current ratio of 2.34.

CVS Health (NYSE:CVS) last issued its earnings results on Wednesday, August 8th. The pharmacy operator reported $1.69 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.61 by $0.08. The business had revenue of $46.71 billion for the quarter, compared to the consensus estimate of $46.34 billion. CVS Health had a net margin of 1.61% and a return on equity of 18.25%. The firm’s revenue for the quarter was up 2.2% on a year-over-year basis. During the same period in the previous year, the company earned $1.33 earnings per share. On average, analysts predict that CVS Health Corp will post 7.05 earnings per share for the current year.

The company also recently announced a quarterly dividend, which was paid on Thursday, November 1st. Investors of record on Wednesday, October 24th were issued a dividend of $0.50 per share. The ex-dividend date was Tuesday, October 23rd. This represents a $2.00 dividend on an annualized basis and a yield of 2.74%. CVS Health’s payout ratio is 33.90%.

About CVS Health

CVS Health Corporation, together with its subsidiaries, provides integrated pharmacy health care services. It operates through Pharmacy Services and Retail/LTC segments. The Pharmacy Services segment offers pharmacy benefit management solutions, such as plan design and administration, formulary management, Medicare Part D services, mail order, specialty pharmacy and infusion services, retail pharmacy network management services, prescription management systems, clinical services, disease management programs, and medical pharmacy management services.

Recommended Story: How to Profit and Limit Losses With Stop Orders

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

Receive News & Ratings for CVS Health Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for CVS Health and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply