CVS Health Corp (NYSE:CVS) Shares Bought by Moors & Cabot Inc.
Moors & Cabot Inc. raised its position in CVS Health Corp (NYSE:CVS) by 16.4% during the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 118,435 shares of the pharmacy operator’s stock after purchasing an additional 16,728 shares during the period. CVS Health comprises approximately 0.8% of Moors & Cabot Inc.’s portfolio, making the stock its 24th biggest holding. Moors & Cabot Inc.’s holdings in CVS Health were worth $6,431,000 at the end of the most recent quarter.
Other institutional investors have also recently bought and sold shares of the company. Nordea Investment Management AB boosted its stake in shares of CVS Health by 2.8% during the first quarter. Nordea Investment Management AB now owns 12,426,745 shares of the pharmacy operator’s stock valued at $670,172,000 after acquiring an additional 340,315 shares during the last quarter. Pinnacle Bank acquired a new stake in shares of CVS Health during the fourth quarter valued at $157,000. Contravisory Investment Management Inc. acquired a new stake in shares of CVS Health during the first quarter valued at $3,040,000. Owl Creek Asset Management L.P. boosted its stake in shares of CVS Health by 126.1% during the fourth quarter. Owl Creek Asset Management L.P. now owns 1,750,594 shares of the pharmacy operator’s stock valued at $114,699,000 after acquiring an additional 976,494 shares during the last quarter. Finally, M&R Capital Management Inc. lifted its position in CVS Health by 3.0% during the first quarter. M&R Capital Management Inc. now owns 130,126 shares of the pharmacy operator’s stock worth $6,965,000 after buying an additional 3,794 shares during the period. 77.28% of the stock is currently owned by institutional investors.
Several equities analysts recently weighed in on the company. Bank of America set a $25.00 target price on Bed Bath & Beyond and gave the stock a “buy” rating in a research report on Wednesday, April 10th. Barclays set a $325.00 target price on Align Technology and gave the stock a “buy” rating in a research report on Thursday, April 11th. UBS Group increased their target price on Tableau Software to $134.00 and gave the stock a “neutral” rating in a research report on Thursday, May 2nd. ValuEngine downgraded Zumiez from a “hold” rating to a “sell” rating in a research report on Tuesday, July 2nd. Finally, Morgan Stanley increased their target price on Thomson Reuters from $66.00 to $67.00 and gave the stock an “overweight” rating in a research report on Monday, April 29th. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating, sixteen have given a buy rating and one has issued a strong buy rating to the company. The stock has a consensus rating of “Buy” and a consensus target price of $76.48.
CVS Health (NYSE:CVS) last announced its earnings results on Wednesday, May 1st. The pharmacy operator reported $1.62 EPS for the quarter, beating the consensus estimate of $1.50 by $0.12. The business had revenue of $61.65 billion for the quarter, compared to the consensus estimate of $60.39 billion. CVS Health had a positive return on equity of 16.80% and a negative net margin of 0.08%. The company’s revenue was up 34.8% on a year-over-year basis. During the same period last year, the business posted $1.48 EPS. On average, equities analysts expect that CVS Health Corp will post 6.84 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Friday, August 2nd. Investors of record on Thursday, July 25th will be issued a dividend of $0.50 per share. The ex-dividend date is Wednesday, July 24th. This represents a $2.00 annualized dividend and a dividend yield of 3.58%. CVS Health’s payout ratio is currently 28.25%.
CVS Health Profile
CVS Health Corporation provides health services and plans in the United States. Its Pharmacy Services segment offers pharmacy benefit management solutions, such as plan design and administration, formulary management, retail pharmacy network management, mail order pharmacy, specialty pharmacy and infusion, Medicare Part D, clinical, disease management, and medical spend management services.
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