CVS Health Corporation (CVS) Stake Boosted by LGT Capital Partners LTD.
LGT Capital Partners LTD. raised its stake in CVS Health Corporation (NYSE:CVS) by 13.9% during the third quarter, according to its most recent disclosure with the SEC. The firm owned 95,460 shares of the pharmacy operator’s stock after buying an additional 11,630 shares during the period. LGT Capital Partners LTD.’s holdings in CVS Health Corporation were worth $8,495,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also added to or reduced their stakes in the company. City Holding Co. boosted its position in CVS Health Corporation by 41.3% in the third quarter. City Holding Co. now owns 15,329 shares of the pharmacy operator’s stock valued at $1,364,000 after buying an additional 4,479 shares during the last quarter. Hills Bank & Trust Co. boosted its position in CVS Health Corporation by 5.3% in the third quarter. Hills Bank & Trust Co. now owns 31,595 shares of the pharmacy operator’s stock valued at $2,812,000 after buying an additional 1,580 shares during the last quarter. Searle & CO. acquired a new position in CVS Health Corporation during the third quarter valued at about $2,362,000. Stillwater Capital Advisors LLC boosted its position in CVS Health Corporation by 32.6% in the third quarter. Stillwater Capital Advisors LLC now owns 115,061 shares of the pharmacy operator’s stock valued at $10,239,000 after buying an additional 28,289 shares during the last quarter. Finally, Advisory Services Network LLC boosted its position in CVS Health Corporation by 33.9% in the third quarter. Advisory Services Network LLC now owns 14,062 shares of the pharmacy operator’s stock valued at $1,251,000 after buying an additional 3,558 shares during the last quarter. 80.44% of the stock is owned by institutional investors.
Shares of CVS Health Corporation (NYSE:CVS) traded up 0.97% on Monday, hitting $74.78. The stock had a trading volume of 8,621,492 shares. CVS Health Corporation has a one year low of $69.30 and a one year high of $106.67. The firm’s 50 day moving average is $81.80 and its 200-day moving average is $91.85. The stock has a market capitalization of $79.75 billion, a PE ratio of 16.03 and a beta of 0.88.
CVS Health Corporation (NYSE:CVS) last announced its quarterly earnings data on Tuesday, November 8th. The pharmacy operator reported $1.64 EPS for the quarter, topping analysts’ consensus estimates of $1.57 by $0.07. CVS Health Corporation had a return on equity of 17.18% and a net margin of 2.96%. The business earned $44.60 billion during the quarter, compared to analysts’ expectations of $45.29 billion. During the same period in the previous year, the firm earned $1.28 earnings per share. The firm’s quarterly revenue was up 15.5% compared to the same quarter last year. Equities research analysts expect that CVS Health Corporation will post $5.81 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Thursday, November 3rd. Investors of record on Monday, October 24th were paid a dividend of $0.425 per share. The ex-dividend date was Thursday, October 20th. This represents a $1.70 dividend on an annualized basis and a dividend yield of 2.28%. CVS Health Corporation’s dividend payout ratio (DPR) is presently 36.40%.
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Several research analysts have recently issued reports on the company. Argus reissued a “buy” rating and issued a $85.00 price target (down previously from $120.00) on shares of CVS Health Corporation in a research note on Thursday, November 10th. Barclays PLC restated a “buy” rating and issued a $85.00 price objective on shares of CVS Health Corporation in a report on Wednesday, November 9th. Leerink Swann restated a “buy” rating and issued a $105.00 price objective on shares of CVS Health Corporation in a report on Wednesday, November 9th. Mizuho upped their price objective on CVS Health Corporation from $90.00 to $111.00 and gave the company a “buy” rating in a report on Wednesday, November 9th. Finally, Guggenheim restated a “buy” rating and issued a $90.00 price objective (down previously from $115.00) on shares of CVS Health Corporation in a report on Tuesday, November 8th. Five research analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the stock. The company currently has an average rating of “Buy” and a consensus target price of $106.24.
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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