Lincoln National Corp Grows Stake in CVS Health Co. (NYSE:CVS)

Lincoln National Corp boosted its position in shares of CVS Health Co. (NYSE:CVS) by 5.9% in the second quarter, Holdings Channel reports. The fund owned 22,978 shares of the pharmacy operator’s stock after purchasing an additional 1,282 shares during the quarter. Lincoln National Corp’s holdings in CVS Health were worth $1,917,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently bought and sold shares of CVS. BlackRock Inc. increased its holdings in CVS Health by 2.0% during the second quarter. BlackRock Inc. now owns 96,490,010 shares of the pharmacy operator’s stock valued at $8,051,125,000 after buying an additional 1,927,510 shares during the last quarter. Renaissance Technologies LLC bought a new stake in shares of CVS Health during the 1st quarter valued at $134,771,000. Vanguard Group Inc. increased its stake in shares of CVS Health by 1.1% in the 2nd quarter. Vanguard Group Inc. now owns 107,495,739 shares of the pharmacy operator’s stock worth $8,969,445,000 after purchasing an additional 1,170,549 shares in the last quarter. Janus Henderson Group PLC lifted its position in CVS Health by 31.0% during the first quarter. Janus Henderson Group PLC now owns 4,752,093 shares of the pharmacy operator’s stock valued at $357,497,000 after purchasing an additional 1,124,402 shares in the last quarter. Finally, Bank of New York Mellon Corp grew its holdings in CVS Health by 8.5% during the second quarter. Bank of New York Mellon Corp now owns 14,205,107 shares of the pharmacy operator’s stock valued at $1,185,273,000 after purchasing an additional 1,107,604 shares during the period. 75.94% of the stock is currently owned by institutional investors.

In other CVS Health news, EVP Troyen A. Brennan sold 2,625 shares of the firm’s stock in a transaction on Thursday, September 2nd. The shares were sold at an average price of $87.00, for a total value of $228,375.00. Following the completion of the transaction, the executive vice president now owns 140,201 shares of the company’s stock, valued at $12,197,487. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, Director Edward J. Ludwig acquired 3,000 shares of the business’s stock in a transaction dated Thursday, August 5th. The stock was purchased at an average cost of $79.55 per share, for a total transaction of $238,650.00. Following the completion of the acquisition, the director now directly owns 17,334 shares of the company’s stock, valued at approximately $1,378,919.70. The disclosure for this purchase can be found here. Company insiders own 0.69% of the company’s stock.

CVS has been the subject of several recent analyst reports. Tigress Financial reaffirmed a “buy” rating and issued a $108.00 target price on shares of CVS Health in a report on Friday, July 23rd. Deutsche Bank Aktiengesellschaft boosted their price objective on CVS Health from $95.00 to $101.00 and gave the company a “buy” rating in a research report on Thursday, August 5th. Finally, Morgan Stanley lifted their target price on CVS Health from $99.00 to $114.00 and gave the company an “overweight” rating in a research note on Tuesday, August 31st. Four analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Buy” and a consensus target price of $94.89.

Shares of NYSE CVS opened at $83.16 on Thursday. CVS Health Co. has a 52-week low of $55.36 and a 52-week high of $90.61. The firm has a market capitalization of $109.74 billion, a price-to-earnings ratio of 15.26, a PEG ratio of 1.68 and a beta of 0.83. The stock has a 50 day moving average price of $84.59 and a 200 day moving average price of $82.75. The company has a debt-to-equity ratio of 0.81, a quick ratio of 0.67 and a current ratio of 0.95.

CVS Health (NYSE:CVS) last issued its earnings results on Tuesday, August 3rd. The pharmacy operator reported $2.42 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $2.07 by $0.35. The business had revenue of $72.62 billion during the quarter, compared to analysts’ expectations of $70.27 billion. CVS Health had a return on equity of 13.81% and a net margin of 2.59%. The business’s revenue for the quarter was up 11.1% compared to the same quarter last year. During the same period in the prior year, the business earned $2.62 EPS. Analysts forecast that CVS Health Co. will post 7.84 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, November 1st. Investors of record on Friday, October 22nd will be paid a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a yield of 2.41%. The ex-dividend date is Thursday, October 21st. CVS Health’s dividend payout ratio (DPR) is 26.67%.

CVS Health Profile

CVS Health Corp. engages in the provision of health care services. It operates through the following segments: Pharmacy Services, Retail or Long Term Care, Health Care Benefits, and Corporate/Other. The Pharmacy Services segment offers pharmacy benefit management solutions. The Retail or Long Term Care segment includes selling of prescription drugs and assortment of general merchandise.

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

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