CIBC World Markets Inc. lifted its position in shares of CVS Health Corporation (NYSE:CVS) by 22.3% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 256,821 shares of the pharmacy operator’s stock after acquiring an additional 46,822 shares during the quarter. CIBC World Markets Inc.’s holdings in CVS Health Corporation were worth $20,664,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in the company. Bank of America Corp DE raised its position in shares of CVS Health Corporation by 1.8% during the first quarter. Bank of America Corp DE now owns 22,411,957 shares of the pharmacy operator’s stock worth $1,759,338,000 after acquiring an additional 398,999 shares during the last quarter. Macquarie Group Ltd. raised its position in shares of CVS Health Corporation by 2.4% during the first quarter. Macquarie Group Ltd. now owns 9,752,261 shares of the pharmacy operator’s stock worth $765,534,000 after acquiring an additional 225,981 shares during the last quarter. Clearbridge Investments LLC raised its position in shares of CVS Health Corporation by 6.8% during the first quarter. Clearbridge Investments LLC now owns 9,258,404 shares of the pharmacy operator’s stock worth $726,785,000 after acquiring an additional 589,646 shares during the last quarter. Veritas Asset Management LLP raised its position in shares of CVS Health Corporation by 11.4% during the second quarter. Veritas Asset Management LLP now owns 8,438,564 shares of the pharmacy operator’s stock worth $678,967,000 after acquiring an additional 865,756 shares during the last quarter. Finally, Pioneer Investment Management Inc. raised its position in shares of CVS Health Corporation by 4.6% during the first quarter. Pioneer Investment Management Inc. now owns 8,033,087 shares of the pharmacy operator’s stock worth $630,598,000 after acquiring an additional 353,621 shares during the last quarter. Institutional investors own 81.42% of the company’s stock.

A number of research firms have recently weighed in on CVS. BidaskClub upgraded CVS Health Corporation from a “sell” rating to a “hold” rating in a research report on Wednesday, August 2nd. Citigroup Inc. dropped their price objective on CVS Health Corporation from $88.00 to $87.00 and set a “neutral” rating for the company in a report on Thursday, August 17th. Jefferies Group LLC dropped their price objective on CVS Health Corporation from $86.00 to $76.00 and set a “hold” rating for the company in a report on Tuesday, November 7th. Loop Capital dropped their price objective on CVS Health Corporation from $83.00 to $73.00 and set a “hold” rating for the company in a report on Tuesday, November 7th. Finally, Needham & Company LLC upgraded CVS Health Corporation from a “hold” rating to a “buy” rating and upped their price objective for the company from $69.02 to $79.00 in a report on Friday, November 10th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and fourteen have issued a buy rating to the company. The stock currently has a consensus rating of “Buy” and an average target price of $85.82.

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In related news, EVP Thomas M. Moriarty sold 20,547 shares of the company’s stock in a transaction dated Monday, October 2nd. The stock was sold at an average price of $81.17, for a total transaction of $1,667,799.99. Following the sale, the executive vice president now owns 43,178 shares in the company, valued at $3,504,758.26. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO David M. Denton sold 237,078 shares of the company’s stock in a transaction dated Monday, September 11th. The stock was sold at an average price of $79.65, for a total value of $18,883,262.70. Following the sale, the chief financial officer now owns 141,096 shares in the company, valued at approximately $11,238,296.40. The disclosure for this sale can be found here. Insiders have sold 714,125 shares of company stock worth $58,119,381 in the last quarter. 0.61% of the stock is currently owned by corporate insiders.

CVS Health Corporation (NYSE:CVS) opened at $70.38 on Tuesday. The company has a current ratio of 1.05, a quick ratio of 0.55 and a debt-to-equity ratio of 0.67. The firm has a market capitalization of $71,290.00, a PE ratio of 12.38, a PEG ratio of 1.21 and a beta of 0.86. CVS Health Corporation has a 52-week low of $66.45 and a 52-week high of $84.72.

CVS Health Corporation (NYSE:CVS) last released its earnings results on Monday, November 6th. The pharmacy operator reported $1.50 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.49 by $0.01. CVS Health Corporation had a return on equity of 16.96% and a net margin of 2.77%. The business had revenue of $46.18 billion for the quarter, compared to analyst estimates of $46.17 billion. During the same quarter in the prior year, the company posted $1.64 earnings per share. CVS Health Corporation’s revenue was up 3.5% on a year-over-year basis. research analysts anticipate that CVS Health Corporation will post 5.9 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which was paid on Friday, November 3rd. Investors of record on Tuesday, October 24th were issued a dividend of $0.50 per share. The ex-dividend date was Monday, October 23rd. This represents a $2.00 annualized dividend and a yield of 2.84%. CVS Health Corporation’s payout ratio is presently 41.32%.

CVS Health Corporation Company 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.

Institutional Ownership by Quarter for CVS Health Corporation (NYSE:CVS)

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