Sippican Capital Advisors decreased its stake in shares of CVS Health Corporation (NYSE:CVS) by 8.0% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 4,755 shares of the pharmacy operator’s stock after selling 415 shares during the period. Sippican Capital Advisors’ holdings in CVS Health Corporation were worth $383,000 as of its most recent filing with the SEC.
A number of other hedge funds have also recently made changes to their positions in CVS. Mercer Capital Advisers Inc. purchased a new stake in shares of CVS Health Corporation during the first quarter valued at approximately $118,000. Gemmer Asset Management LLC increased its stake in shares of CVS Health Corporation by 15.3% in the second quarter. Gemmer Asset Management LLC now owns 1,509 shares of the pharmacy operator’s stock valued at $121,000 after buying an additional 200 shares during the period. Sowell Financial Services LLC purchased a new stake in shares of CVS Health Corporation during the fourth quarter valued at approximately $140,000. Patriot Financial Group Insurance Agency LLC purchased a new stake in shares of CVS Health Corporation during the fourth quarter valued at approximately $156,000. Finally, Orrstown Financial Services Inc. increased its stake in shares of CVS Health Corporation by 2,000.0% in the first quarter. Orrstown Financial Services Inc. now owns 2,100 shares of the pharmacy operator’s stock worth $165,000 after buying an additional 2,000 shares during the last quarter. 82.31% of the stock is currently owned by institutional investors.
Shares of CVS Health Corporation (NYSE CVS) traded down 1.56% during mid-day trading on Friday, hitting $77.66. The company’s stock had a trading volume of 5,005,371 shares. The stock has a 50-day moving average of $78.68 and a 200-day moving average of $78.94. The company has a market cap of $78.95 billion, a PE ratio of 15.47 and a beta of 0.91. CVS Health Corporation has a 12-month low of $69.30 and a 12-month high of $98.44.
CVS Health Corporation (NYSE:CVS) last posted its earnings results on Tuesday, August 8th. The pharmacy operator reported $1.33 EPS for the quarter, beating the 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 firm had revenue of $45.69 billion for the quarter, compared to analysts’ expectations of $45.36 billion. During the same period last year, the firm earned $1.32 EPS. The firm’s revenue was up 4.5% compared to the same quarter last year. On average, equities research analysts forecast that CVS Health Corporation will post $5.88 EPS for the current year.
The company also recently declared a quarterly dividend, which was paid on Thursday, August 3rd. Shareholders of record on Monday, July 24th were paid a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a yield of 2.58%. The ex-dividend date of this dividend was Thursday, July 20th. CVS Health Corporation’s payout ratio is currently 39.92%.
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A number of brokerages have recently issued reports on CVS. Vetr downgraded shares of CVS Health Corporation from a “buy” rating to a “hold” rating and set a $85.78 price target on the stock. in a report on Thursday, April 27th. Tigress Financial started coverage on shares of CVS Health Corporation in a research note on Thursday, April 27th. They set a “buy” rating on the stock. Needham & Company LLC began coverage on shares of CVS Health Corporation in a research note on Tuesday, June 27th. They set a “hold” rating on the stock. Guggenheim reiterated a “buy” rating on shares of CVS Health Corporation in a research report on Monday, July 3rd. Finally, Leerink Swann set a $90.00 price objective on shares of CVS Health Corporation and gave the company a “buy” rating in a research report on Tuesday, June 27th. Nine investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. The stock currently has an average rating of “Buy” and an average target price of $91.24.
In other news, Director Richard J. Swift sold 2,500 shares of the firm’s stock in a transaction on Wednesday, August 16th. The stock was sold at an average price of $79.62, for a total transaction of $199,050.00. Following the completion of the sale, the director now directly owns 3,258 shares of the company’s stock, valued at approximately $259,401.96. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CFO David M. Denton sold 230,510 shares of the stock in a transaction on Monday, June 12th. The stock was sold at an average price of $80.00, for a total value of $18,440,800.00. Following the sale, the chief financial officer now owns 176,983 shares of the company’s stock, valued at $14,158,640. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 273,675 shares of company stock valued at $21,831,647. 0.61% of the stock is currently owned by corporate insiders.
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.
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