Truvestments Capital LLC bought a new stake in CVS Health Corp (NYSE:CVS) during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 22,907 shares of the pharmacy operator’s stock, valued at approximately $1,474,000. CVS Health comprises approximately 0.9% of Truvestments Capital LLC’s holdings, making the stock its 27th biggest holding.
Several other institutional investors and hedge funds have also modified their holdings of the company. Camarda Financial Advisors LLC acquired a new stake in CVS Health in the second quarter valued at approximately $102,000. Quantbot Technologies LP acquired a new stake in CVS Health in the first quarter valued at approximately $103,000. Kiley Juergens Wealth Management LLC acquired a new stake in CVS Health in the second quarter valued at approximately $103,000. Legacy Advisors LLC raised its holdings in CVS Health by 7,100.0% in the second quarter. Legacy Advisors LLC now owns 1,800 shares of the pharmacy operator’s stock valued at $116,000 after acquiring an additional 1,775 shares in the last quarter. Finally, Squar Milner Financial Services LLC acquired a new stake in CVS Health in the second quarter valued at approximately $122,000. 82.75% of the stock is currently owned by institutional investors and hedge funds.
In related news, EVP Eva C. Boratto sold 13,311 shares of the stock in a transaction on Monday, September 17th. The stock was sold at an average price of $77.16, for a total transaction of $1,027,076.76. Following the completion of the sale, the executive vice president now directly owns 55,162 shares of the company’s stock, valued at $4,256,299.92. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Kevin Hourican sold 8,564 shares of the stock in a transaction on Monday, August 27th. The stock was sold at an average price of $75.00, for a total value of $642,300.00. Following the sale, the executive vice president now directly owns 12,135 shares of the company’s stock, valued at $910,125. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 43,409 shares of company stock valued at $3,392,097. Corporate insiders own 0.53% of the company’s stock.
CVS Health (NYSE:CVS) last announced its earnings results on Wednesday, August 8th. The pharmacy operator reported $1.69 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.61 by $0.08. CVS Health had a net margin of 1.61% and a return on equity of 18.25%. The business had revenue of $46.71 billion for the quarter, compared to analyst estimates of $46.34 billion. During the same period last year, the firm posted $1.33 earnings per share. The company’s revenue for the quarter was up 2.2% compared to the same quarter last year. As a group, equities research analysts forecast that CVS Health Corp will post 7.05 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Thursday, November 1st. Investors of record on Wednesday, October 24th will be issued a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a dividend yield of 2.68%. The ex-dividend date of this dividend is Tuesday, October 23rd. CVS Health’s dividend payout ratio is presently 33.90%.
CVS has been the topic of several analyst reports. Bank of America raised their target price on shares of CVS Health from $86.00 to $90.00 and gave the company a “buy” rating in a report on Monday, September 17th. Royal Bank of Canada increased their price target on shares of CVS Health to $101.00 and gave the company an “outperform” rating in a research note on Tuesday, September 18th. ValuEngine upgraded shares of CVS Health from a “strong sell” rating to a “sell” rating in a research note on Tuesday, August 28th. Citigroup reiterated a “buy” rating and issued a $81.00 price target on shares of CVS Health in a research note on Monday, July 9th. Finally, Morgan Stanley dropped their price target on shares of CVS Health from $88.00 to $80.00 and set an “overweight” rating on the stock in a research note on Tuesday, July 3rd. One analyst has rated the stock with a sell rating, five have assigned a hold rating, ten have issued a buy rating and two have assigned a strong buy rating to the company. CVS Health presently has a consensus rating of “Buy” and a consensus target price of $86.31.
CVS Health Company Profile
CVS Health Corporation, together with its subsidiaries, provides integrated pharmacy health care services. It operates through Pharmacy Services and Retail/LTC segments. The Pharmacy Services segment offers pharmacy benefit management solutions, such as plan design and administration, formulary management, Medicare Part D services, mail order, specialty pharmacy and infusion services, retail pharmacy network management services, prescription management systems, clinical services, disease management programs, and medical pharmacy management services.
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