CVS Health Corporation (CVS) Shares Bought by Endurance Wealth Management Inc.
Endurance Wealth Management Inc. raised its position in shares of CVS Health Corporation (NYSE:CVS) by 7.6% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 115,270 shares of the pharmacy operator’s stock after purchasing an additional 8,160 shares during the quarter. CVS Health Corporation accounts for 1.6% of Endurance Wealth Management Inc.’s portfolio, making the stock its 20th largest position. Endurance Wealth Management Inc.’s holdings in CVS Health Corporation were worth $9,275,000 at the end of the most recent reporting period.
Other institutional investors have also recently bought and sold shares of the company. Northwestern Mutual Wealth Management Co. grew its stake in CVS Health Corporation by 3.2% during the 1st quarter. Northwestern Mutual Wealth Management Co. now owns 176,294 shares of the pharmacy operator’s stock valued at $13,840,000 after purchasing an additional 5,478 shares during the last quarter. Fiduciary Trust Co. grew its stake in CVS Health Corporation by 1.2% during the 1st quarter. Fiduciary Trust Co. now owns 366,007 shares of the pharmacy operator’s stock valued at $28,732,000 after purchasing an additional 4,265 shares during the last quarter. British Columbia Investment Management Corp grew its stake in CVS Health Corporation by 3.7% during the 1st quarter. British Columbia Investment Management Corp now owns 561,299 shares of the pharmacy operator’s stock valued at $44,062,000 after purchasing an additional 19,794 shares during the last quarter. Bahl & Gaynor Inc. grew its stake in CVS Health Corporation by 1.1% during the 1st quarter. Bahl & Gaynor Inc. now owns 14,922 shares of the pharmacy operator’s stock valued at $1,171,000 after purchasing an additional 167 shares during the last quarter. Finally, Independent Advisor Alliance grew its stake in CVS Health Corporation by 6.7% during the 1st quarter. Independent Advisor Alliance now owns 26,460 shares of the pharmacy operator’s stock valued at $2,038,000 after purchasing an additional 1,652 shares during the last quarter. Institutional investors and hedge funds own 81.51% of the company’s stock.
Several research firms have weighed in on CVS. Cowen and Company reiterated an “outperform” rating and set a $86.00 price target on shares of CVS Health Corporation in a research note on Tuesday, June 13th. BidaskClub upgraded CVS Health Corporation from a “sell” rating to a “hold” rating in a research note on Wednesday, August 2nd. Citigroup Inc. dropped their price target on CVS Health Corporation from $88.00 to $87.00 and set a “neutral” rating on the stock in a research note on Thursday, August 17th. Royal Bank Of Canada began coverage on CVS Health Corporation in a research note on Tuesday, September 19th. They set an “outperform” rating and a $95.00 price target on the stock. Finally, Wolfe Research downgraded CVS Health Corporation from an “outperform” rating to a “market perform” rating and dropped their price target for the company from $89.00 to $82.00 in a research note on Monday, August 14th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and fifteen have given a buy rating to the stock. The company presently has a consensus rating of “Buy” and an average price target of $89.93.
Shares of CVS Health Corporation (NYSE:CVS) opened at 74.71 on Wednesday. CVS Health Corporation has a 52 week low of $69.30 and a 52 week high of $88.92. The stock has a 50 day moving average price of $79.46 and a 200-day moving average price of $78.98. The stock has a market cap of $75.95 billion, a P/E ratio of 14.88 and a beta of 0.92.
CVS Health Corporation (NYSE:CVS) last announced its quarterly earnings data on Tuesday, August 8th. The pharmacy operator reported $1.33 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.31 by $0.02. CVS Health Corporation had a return on equity of 17.47% and a net margin of 2.93%. The company had revenue of $45.69 billion for the quarter, compared to analyst estimates of $45.36 billion. During the same quarter in the previous year, the company earned $1.32 EPS. The firm’s revenue for the quarter was up 4.5% compared to the same quarter last year. Equities analysts predict that CVS Health Corporation will post $5.88 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 3rd. Shareholders of record on Tuesday, October 24th will be issued a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a yield of 2.68%. The ex-dividend date is Monday, October 23rd. CVS Health Corporation’s dividend payout ratio is presently 39.92%.
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In other CVS Health Corporation news, Director Richard J. Swift sold 2,500 shares of CVS Health Corporation stock in a transaction that occurred on Wednesday, August 16th. The stock was sold at an average price of $79.62, for a total value of $199,050.00. Following the sale, the director now owns 3,258 shares of the company’s stock, valued at approximately $259,401.96. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Larry J. Merlo sold 241,150 shares of CVS Health Corporation stock in a transaction that occurred on Wednesday, September 13th. The shares were sold at an average price of $83.07, for a total value of $20,032,330.50. Following the completion of the sale, the insider now directly owns 299,255 shares in the company, valued at approximately $24,859,112.85. The disclosure for this sale can be found here. Insiders sold a total of 716,625 shares of company stock worth $58,318,431 in the last ninety days. 0.61% of the stock is owned by corporate insiders.
CVS Health Corporation Profile
CVS Health Corporation, together with its subsidiaries, is an integrated pharmacy healthcare company. The Company provides pharmacy care for the senior community through Omnicare, Inc (Omnicare) and Omnicare’s long-term care (LTC) operations, which include distribution of pharmaceuticals, related pharmacy consulting and other ancillary services to chronic care facilities and other care settings.
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