Factory Mutual Insurance Co. lessened its holdings in shares of CVS Health Corp (NYSE:CVS) by 31.5% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 682,388 shares of the pharmacy operator’s stock after selling 314,000 shares during the period. Factory Mutual Insurance Co. owned about 0.05% of CVS Health worth $37,183,000 at the end of the most recent quarter.
Other institutional investors have also recently modified their holdings of the company. Bay Harbor Wealth Management LLC raised its stake in shares of CVS Health by 1,871.4% during the first quarter. Bay Harbor Wealth Management LLC now owns 552 shares of the pharmacy operator’s stock valued at $30,000 after acquiring an additional 524 shares during the last quarter. Murphy Pohlad Asset Management LLC bought a new position in shares of CVS Health during the fourth quarter valued at $39,000. C J Advisory Inc bought a new position in shares of CVS Health during the first quarter valued at $33,000. Capital Financial Planning LLC bought a new position in shares of CVS Health during the fourth quarter valued at $44,000. Finally, Somerset Trust Co raised its stake in shares of CVS Health by 152.7% during the first quarter. Somerset Trust Co now owns 758 shares of the pharmacy operator’s stock valued at $41,000 after acquiring an additional 458 shares during the last quarter. 77.33% of the stock is owned by institutional investors.
Several research firms have recently issued reports on CVS. Raymond James reaffirmed an “average” rating and set a $10.50 price target on shares of Hudbay Minerals in a research note on Thursday, April 18th. UBS Group raised their price target on shares of Tableau Software to $134.00 and gave the company a “neutral” rating in a research note on Thursday, May 2nd. Barclays set a $325.00 price target on shares of Align Technology and gave the company a “buy” rating in a research note on Thursday, April 11th. Oppenheimer raised their price target on shares of Check Point Software Technologies from $130.00 to $145.00 and gave the company an “outperform” rating in a research note on Monday, April 15th. Finally, Standpoint Research upgraded shares of CVS Health from a “hold” rating to a “buy” rating in a research report on Wednesday, June 5th. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating, sixteen have assigned a buy rating and one has assigned a strong buy rating to the company. The stock presently has an average rating of “Buy” and a consensus target price of $76.48.
NYSE:CVS traded up $0.17 during trading hours on Friday, reaching $55.61. The company had a trading volume of 65,053 shares, compared to its average volume of 7,183,427. The company has a current ratio of 0.95, a quick ratio of 0.64 and a debt-to-equity ratio of 1.45. The company has a market capitalization of $72.48 billion, a price-to-earnings ratio of 7.86, a price-to-earnings-growth ratio of 1.26 and a beta of 0.88. The stock has a 50-day moving average price of $55.09. CVS Health Corp has a twelve month low of $51.72 and a twelve month high of $82.15.
CVS Health (NYSE:CVS) last posted its quarterly earnings results on Wednesday, May 1st. The pharmacy operator reported $1.62 EPS for the quarter, topping analysts’ consensus estimates of $1.50 by $0.12. The business had revenue of $61.65 billion during the quarter, compared to analysts’ expectations of $60.39 billion. CVS Health had a negative net margin of 0.08% and a positive return on equity of 16.80%. The business’s quarterly revenue was up 34.8% on a year-over-year basis. During the same period last year, the company posted $1.48 earnings per share. As a group, equities analysts predict that CVS Health Corp will post 6.84 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Friday, August 2nd. Shareholders of record on Thursday, July 25th will be issued a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a yield of 3.60%. The ex-dividend date is Wednesday, July 24th. CVS Health’s payout ratio is 28.25%.
CVS Health Company Profile
CVS Health Corporation provides health services and plans in the United States. Its Pharmacy Services segment offers pharmacy benefit management solutions, such as plan design and administration, formulary management, retail pharmacy network management, mail order pharmacy, specialty pharmacy and infusion, Medicare Part D, clinical, disease management, and medical spend management services.
Featured Story: What is Call Option Volume?
Want to see what other hedge funds are holding CVS? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for CVS Health Corp (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.