CVS Health Corporation (CVS) Position Lowered by ClariVest Asset Management LLC
ClariVest Asset Management LLC reduced its position in shares of CVS Health Corporation (NYSE:CVS) by 0.5% during the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 508,963 shares of the pharmacy operator’s stock after selling 2,683 shares during the period. CVS Health Corporation comprises 1.5% of ClariVest Asset Management LLC’s investment portfolio, making the stock its 14th largest position. ClariVest Asset Management LLC’s holdings in CVS Health Corporation were worth $48,729,000 as of its most recent SEC filing.
Other hedge funds have also bought and sold shares of the company. Bank of Montreal Can purchased a new stake in shares of CVS Health Corporation during the second quarter valued at approximately $438,948,000. Nordea Investment Management AB boosted its stake in shares of CVS Health Corporation by 61.3% in the second quarter. Nordea Investment Management AB now owns 11,644,431 shares of the pharmacy operator’s stock valued at $1,114,838,000 after buying an additional 4,423,216 shares during the last quarter. Credit Agricole S A boosted its stake in shares of CVS Health Corporation by 112.8% in the first quarter. Credit Agricole S A now owns 2,492,231 shares of the pharmacy operator’s stock valued at $258,521,000 after buying an additional 1,320,987 shares during the last quarter. NN Investment Partners Holdings N.V. purchased a new stake in shares of CVS Health Corporation during the first quarter valued at approximately $125,795,000. Finally, State Street Corp boosted its stake in shares of CVS Health Corporation by 2.4% in the first quarter. State Street Corp now owns 44,552,112 shares of the pharmacy operator’s stock valued at $4,621,391,000 after buying an additional 1,023,799 shares during the last quarter. Institutional investors and hedge funds own 80.89% of the company’s stock.
CVS Health Corporation (NYSE:CVS) traded down 2.41% on Monday, hitting $86.66. The stock had a trading volume of 7,381,666 shares. The firm has a market cap of $92.40 billion, a PE ratio of 19.94 and a beta of 0.83. The company’s 50 day moving average is $89.92 and its 200 day moving average is $96.23. CVS Health Corporation has a 12-month low of $85.41 and a 12-month high of $106.67.
CVS Health Corporation (NYSE:CVS) last announced its quarterly earnings data on Tuesday, August 2nd. The pharmacy operator reported $1.32 EPS for the quarter, beating the Zacks’ consensus estimate of $1.30 by $0.02. The business earned $43.70 billion during the quarter, compared to the consensus estimate of $44.28 billion. CVS Health Corporation had a return on equity of 15.86% and a net margin of 2.88%. The business’s revenue for the quarter was up 17.6% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.19 earnings per share. On average, equities research analysts expect that CVS Health Corporation will post $5.86 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Thursday, November 3rd. Investors of record on Monday, October 24th will be issued a $0.425 dividend. This represents a $1.70 dividend on an annualized basis and a yield of 1.96%. The ex-dividend date of this dividend is Thursday, October 20th. CVS Health Corporation’s payout ratio is currently 39.08%.
Several analysts recently commented on CVS shares. Morgan Stanley cut CVS Health Corporation from an “overweight” rating to an “equal weight” rating and dropped their price target for the stock from $111.00 to $104.00 in a research report on Monday, June 20th. Credit Suisse Group AG reiterated an “outperform” rating and set a $110.00 price target (down from $115.00) on shares of CVS Health Corporation in a research report on Tuesday, October 4th. Robert W. Baird dropped their price target on CVS Health Corporation from $114.00 to $104.00 and set an “outperform” rating for the company in a research report on Monday, October 3rd. Leerink Swann reiterated an “outperform” rating and set a $105.00 price target (down from $110.00) on shares of CVS Health Corporation in a research report on Sunday, October 2nd. Finally, Jefferies Group reiterated a “buy” rating on shares of CVS Health Corporation in a research report on Monday, July 4th. Five research analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and one has assigned a strong buy rating to the company. The company has an average rating of “Buy” and a consensus target price of $112.40.
CVS Health Corporation Company Profile
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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