Bartlett & Co. LLC Increases Position in CVS Health Corporation (CVS)
Bartlett & Co. LLC boosted its position in shares of CVS Health Corporation (NYSE:CVS) by 0.8% during the second quarter, according to its most recent disclosure with the SEC. The fund owned 373,813 shares of the pharmacy operator’s stock after buying an additional 2,964 shares during the period. CVS Health Corporation comprises about 1.8% of Bartlett & Co. LLC’s portfolio, making the stock its 16th largest position. Bartlett & Co. LLC’s holdings in CVS Health Corporation were worth $35,789,000 at the end of the most recent quarter.
Other large investors have also recently modified their holdings of the company. Raymond James Trust N.A. raised its position in CVS Health Corporation by 7.9% in the first quarter. Raymond James Trust N.A. now owns 93,940 shares of the pharmacy operator’s stock worth $9,744,000 after buying an additional 6,849 shares during the period. UMB Bank N A MO raised its position in CVS Health Corporation by 3.3% in the first quarter. UMB Bank N A MO now owns 194,029 shares of the pharmacy operator’s stock worth $20,127,000 after buying an additional 6,128 shares during the period. Watch Point Trust Co raised its position in CVS Health Corporation by 1.2% in the first quarter. Watch Point Trust Co now owns 28,118 shares of the pharmacy operator’s stock worth $2,916,000 after buying an additional 345 shares during the period. OLD National Bancorp IN raised its position in CVS Health Corporation by 0.5% in the first quarter. OLD National Bancorp IN now owns 232,312 shares of the pharmacy operator’s stock worth $24,098,000 after buying an additional 1,180 shares during the period. Finally, Hartwell J M Limited Partnership raised its position in CVS Health Corporation by 7.8% in the first quarter. Hartwell J M Limited Partnership now owns 11,370 shares of the pharmacy operator’s stock worth $1,179,000 after buying an additional 825 shares during the period. 80.96% of the stock is owned by institutional investors and hedge funds.
Shares of CVS Health Corporation (NYSE:CVS) traded down 0.10% during midday trading on Friday, hitting $86.40. The stock had a trading volume of 4,346,345 shares. CVS Health Corporation has a one year low of $85.89 and a one year high of $106.67. The firm has a 50 day moving average of $91.41 and a 200-day moving average of $96.91. The company has a market cap of $92.12 billion, a P/E ratio of 19.88 and a beta of 0.83.
CVS Health Corporation (NYSE:CVS) last issued its quarterly earnings results on Tuesday, August 2nd. The pharmacy operator reported $1.32 EPS for the quarter, topping the consensus estimate of $1.30 by $0.02. CVS Health Corporation had a net margin of 2.88% and a return on equity of 15.86%. The business had revenue of $43.70 billion for the quarter, compared to analysts’ expectations of $44.28 billion. During the same quarter last year, the company posted $1.19 earnings per share. The company’s quarterly revenue was up 17.6% compared to the same quarter last year. On average, analysts forecast that CVS Health Corporation will post $5.86 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Thursday, November 3rd. Stockholders of record on Monday, October 24th will be given a dividend of $0.425 per share. The ex-dividend date is Thursday, October 20th. This represents a $1.70 annualized dividend and a dividend yield of 1.97%. CVS Health Corporation’s payout ratio is 39.08%.
CVS has been the subject of a number of recent research reports. Morgan Stanley lowered CVS Health Corporation from an “overweight” rating to an “equal weight” rating and decreased their target price for the company from $111.00 to $104.00 in a report on Monday, June 20th. Deutsche Bank AG lifted their target price on CVS Health Corporation from $99.00 to $105.00 and gave the company a “hold” rating in a report on Wednesday, June 22nd. Mizuho reiterated a “buy” rating and issued a $108.00 target price (down from $117.00) on shares of CVS Health Corporation in a report on Thursday, June 23rd. Jefferies Group reiterated a “buy” rating on shares of CVS Health Corporation in a report on Monday, July 4th. Finally, Vetr lowered CVS Health Corporation from a “strong-buy” rating to a “hold” rating and set a $95.44 target price for the company. in a report on Monday, July 25th. Six analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has given a strong buy rating to the company. The stock has a consensus rating of “Buy” and a consensus price target of $112.11.
About CVS Health Corporation
CVS Health Corporation, together with its subsidiaries (CVS Health), is a pharmacy company. The Company operates through three business segments: Pharmacy Services, Retail/LTC and Corporate. The Company offers a range of products and services, such as advising patients on their medications at its CVS Pharmacy locations, introducing programs to help control costs for its clients at CVS Caremark, how care is delivered to its patients with conditions through CVS Specialty, pharmacy care for the senior community through Omnicare.
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