M&R Capital Management Inc. lessened its stake in CVS Health Corp (NYSE:CVS) by 0.7% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 129,194 shares of the pharmacy operator’s stock after selling 932 shares during the period. CVS Health accounts for 1.6% of M&R Capital Management Inc.’s portfolio, making the stock its 20th largest holding. M&R Capital Management Inc.’s holdings in CVS Health were worth $7,039,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other hedge funds also recently bought and sold shares of CVS. Norges Bank bought a new position in CVS Health in the 4th quarter worth approximately $840,254,000. FMR LLC raised its position in CVS Health by 30.6% in the 4th quarter. FMR LLC now owns 39,263,265 shares of the pharmacy operator’s stock worth $2,572,528,000 after purchasing an additional 9,194,005 shares during the last quarter. Geode Capital Management LLC raised its position in CVS Health by 36.2% in the 4th quarter. Geode Capital Management LLC now owns 16,462,292 shares of the pharmacy operator’s stock worth $1,076,697,000 after purchasing an additional 4,376,604 shares during the last quarter. Epoch Investment Partners Inc. raised its position in CVS Health by 1,908.9% in the 4th quarter. Epoch Investment Partners Inc. now owns 3,872,700 shares of the pharmacy operator’s stock worth $253,740,000 after purchasing an additional 3,679,925 shares during the last quarter. Finally, Dimensional Fund Advisors LP raised its position in CVS Health by 28.3% in the 4th quarter. Dimensional Fund Advisors LP now owns 13,790,753 shares of the pharmacy operator’s stock worth $903,574,000 after purchasing an additional 3,041,266 shares during the last quarter. Hedge funds and other institutional investors own 77.28% of the company’s stock.
A number of analysts have commented on the stock. Citigroup set a $74.00 target price on shares of CVS Health and gave the stock a “buy” rating in a report on Thursday, May 2nd. Barclays set a $73.00 target price on shares of CVS Health and gave the stock a “buy” rating in a report on Thursday, April 11th. BMO Capital Markets set a $63.00 target price on shares of CVS Health and gave the stock a “hold” rating in a report on Friday, May 3rd. UBS Group lowered their target price on shares of CVS Health from $74.00 to $67.00 and set a “sell” rating for the company in a report on Thursday, May 2nd. Finally, SunTrust Banks lowered their target price on shares of CVS Health from $85.00 to $65.00 in a report on Wednesday, April 10th. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating, sixteen have assigned a buy rating and one has issued a strong buy rating to the company. CVS Health presently has a consensus rating of “Buy” and a consensus target price of $76.48.
CVS Health (NYSE:CVS) last announced its quarterly earnings results on Wednesday, May 1st. The pharmacy operator reported $1.62 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.50 by $0.12. CVS Health had a negative net margin of 0.08% and a positive return on equity of 16.80%. The company had revenue of $61.65 billion during the quarter, compared to analyst estimates of $60.39 billion. During the same quarter in the previous year, the business earned $1.48 EPS. The firm’s revenue was up 34.8% on a year-over-year basis. Research analysts expect that CVS Health Corp will post 6.84 earnings per share for the current year.
The company also recently declared a quarterly dividend, which was paid on Friday, August 2nd. Stockholders of record on Thursday, July 25th were issued a $0.50 dividend. This represents a $2.00 annualized dividend and a dividend yield of 3.59%. The ex-dividend date of this dividend was Wednesday, July 24th. CVS Health’s dividend payout ratio (DPR) is 28.25%.
CVS Health 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.
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