MUFG Securities EMEA plc reduced its holdings in CVS Health Corp (NYSE:CVS) by 32.0% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 18,769 shares of the pharmacy operator’s stock after selling 8,830 shares during the quarter. MUFG Securities EMEA plc’s holdings in CVS Health were worth $1,230,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also added to or reduced their stakes in CVS. CI Investments Inc. raised its stake in CVS Health by 0.8% in the third quarter. CI Investments Inc. now owns 4,459,800 shares of the pharmacy operator’s stock valued at $351,075,000 after purchasing an additional 36,400 shares in the last quarter. GFS Advisors LLC raised its stake in CVS Health by 40.8% in the third quarter. GFS Advisors LLC now owns 68,698 shares of the pharmacy operator’s stock valued at $5,408,000 after purchasing an additional 19,920 shares in the last quarter. Dynamic Technology Lab Private Ltd acquired a new position in CVS Health in the third quarter valued at about $248,000. Jacobi Capital Management LLC raised its stake in CVS Health by 1.1% in the third quarter. Jacobi Capital Management LLC now owns 114,591 shares of the pharmacy operator’s stock valued at $9,021,000 after purchasing an additional 1,271 shares in the last quarter. Finally, Charter Trust Co. raised its stake in CVS Health by 3.7% in the third quarter. Charter Trust Co. now owns 19,498 shares of the pharmacy operator’s stock valued at $1,535,000 after purchasing an additional 696 shares in the last quarter. Institutional investors and hedge funds own 81.74% of the company’s stock.
In other CVS Health news, SVP James David Clark sold 1,664 shares of the business’s stock in a transaction that occurred on Friday, March 1st. The stock was sold at an average price of $58.14, for a total value of $96,744.96. Following the transaction, the senior vice president now directly owns 8,557 shares of the company’s stock, valued at $497,503.98. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director David W. Dorman purchased 9,600 shares of the company’s stock in a transaction on Friday, March 8th. The stock was acquired at an average cost of $52.71 per share, for a total transaction of $506,016.00. Following the completion of the purchase, the director now owns 122,302 shares of the company’s stock, valued at approximately $6,446,538.42. The disclosure for this purchase can be found here. Insiders purchased 23,600 shares of company stock worth $1,270,896 over the last quarter. 0.53% of the stock is currently owned by company insiders.
CVS Health (NYSE:CVS) last announced its earnings results on Wednesday, May 1st. The pharmacy operator reported $1.62 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.50 by $0.12. CVS Health had a positive return on equity of 17.49% and a negative net margin of 0.31%. The business had revenue of $61.65 billion for the quarter, compared to analysts’ expectations of $60.39 billion. During the same period in the prior year, the business posted $1.48 earnings per share. The firm’s revenue was up 34.8% on a year-over-year basis. As a group, equities analysts forecast that CVS Health Corp will post 6.78 EPS for the current year.
The business also recently announced a quarterly dividend, which was paid on Friday, May 3rd. Investors of record on Tuesday, April 23rd were issued a $0.50 dividend. This represents a $2.00 annualized dividend and a yield of 3.53%. The ex-dividend date was Monday, April 22nd. CVS Health’s payout ratio is presently 28.25%.
A number of research analysts recently commented on the company. Wells Fargo & Co downgraded CVS Health from an “outperform” rating to a “market perform” rating and dropped their price target for the company from $104.00 to $68.00 in a research note on Wednesday, February 20th. ValuEngine raised CVS Health from a “strong sell” rating to a “sell” rating in a research note on Thursday, January 24th. JPMorgan Chase & Co. reaffirmed an “overweight” rating and issued a $91.00 price target on shares of CVS Health in a research note on Thursday, February 21st. Cantor Fitzgerald reiterated an “overweight” rating and issued a $80.00 target price on shares of CVS Health in a research report on Thursday, February 21st. Finally, Loop Capital decreased their target price on CVS Health to $68.00 and set a “hold” rating on the stock in a research report on Thursday, February 21st. They noted that the move was a valuation call. Two research analysts have rated the stock with a sell rating, six have issued a hold rating, sixteen have assigned a buy rating and one has given a strong buy rating to the stock. The stock has an average rating of “Buy” and an average target price of $77.38.
COPYRIGHT VIOLATION WARNING: “MUFG Securities EMEA plc Sells 8,830 Shares of CVS Health Corp (NYSE:CVS)” was reported by Baseball Daily News and is the property of of Baseball Daily News. If you are accessing this article on another publication, it was copied illegally and republished in violation of US and international copyright and trademark legislation. The legal version of this article can be viewed at https://www.baseballdailydigest.com/news/2019/05/04/mufg-securities-emea-plc-sells-8830-shares-of-cvs-health-corp-cvs.html.
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.
Read More: Book Value Per Share – BVPS
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.