Traynor Capital Management Inc. acquired a new stake in CVS Health Corporation (NYSE:CVS) during the second quarter, according to its most recent disclosure with the SEC. The firm acquired 2,118 shares of the pharmacy operator’s stock, valued at approximately $201,000.
A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Hartwell J M Limited Partnership raised its position in CVS Health Corporation by 7.8% in the first quarter. Hartwell J M Limited Partnership now owns 11,370 shares of the pharmacy operator’s stock valued at $1,179,000 after buying an additional 825 shares in the last quarter. Lodestar Investment Counsel LLC IL raised its position in CVS Health Corporation by 27.5% in the first quarter. Lodestar Investment Counsel LLC IL now owns 169,251 shares of the pharmacy operator’s stock valued at $17,556,000 after buying an additional 36,470 shares in the last quarter. Douglas Lane & Associates LLC bought a new position in CVS Health Corporation during the first quarter valued at about $992,000. Duncker Streett & Co. Inc. raised its position in CVS Health Corporation by 2.5% in the first quarter. Duncker Streett & Co. Inc. now owns 30,328 shares of the pharmacy operator’s stock valued at $3,146,000 after buying an additional 738 shares in the last quarter. Finally, Hills Bank & Trust Co. raised its position in CVS Health Corporation by 5.9% in the first quarter. Hills Bank & Trust Co. now owns 28,105 shares of the pharmacy operator’s stock valued at $2,916,000 after buying an additional 1,568 shares in the last quarter. Hedge funds and other institutional investors own 80.95% of the company’s stock.
CVS Health Corporation (NYSE:CVS) traded up 0.50% during midday trading on Monday, reaching $86.83. The company’s stock had a trading volume of 5,342,289 shares. The firm has a 50 day moving average of $91.41 and a 200 day moving average of $96.91. CVS Health Corporation has a 52-week low of $85.89 and a 52-week high of $106.67. The firm has a market cap of $92.58 billion, a P/E ratio of 19.97 and a beta of 0.83.
CVS Health Corporation (NYSE:CVS) last issued its quarterly earnings results on Tuesday, August 2nd. The pharmacy operator reported $1.32 earnings per share for the quarter, beating the consensus estimate of $1.30 by $0.02. The company earned $43.70 billion during the quarter, compared to analysts’ expectations of $44.28 billion. CVS Health Corporation had a return on equity of 15.86% and a net margin of 2.88%. The business’s quarterly revenue was up 17.6% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.19 earnings per share. Analysts anticipate that CVS Health Corporation will post $5.86 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Thursday, November 3rd. Stockholders of record on Monday, October 24th will be paid a $0.425 dividend. The ex-dividend date is Thursday, October 20th. This represents a $1.70 annualized dividend and a dividend yield of 1.96%. CVS Health Corporation’s payout ratio is 39.08%.
Several research analysts have issued reports on CVS shares. Morgan Stanley lowered CVS Health Corporation from an “overweight” rating to an “equal weight” rating and dropped their price objective for the stock from $111.00 to $104.00 in a research note on Monday, June 20th. Deutsche Bank AG raised their target price on CVS Health Corporation from $99.00 to $105.00 and gave the company a “hold” rating in a research note on Wednesday, June 22nd. Mizuho restated a “buy” rating and issued a $108.00 target price (down from $117.00) on shares of CVS Health Corporation in a research note on Thursday, June 23rd. Jefferies Group restated a “buy” rating on shares of CVS Health Corporation in a research note on Monday, July 4th. Finally, Vetr lowered CVS Health Corporation from a “strong-buy” rating to a “hold” rating and set a $95.44 target price for the company. in a research note on Monday, July 25th. Five investment analysts have rated the stock with a hold rating, eighteen have given a buy rating and one has given a strong buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average price target of $112.40.
About CVS Health Corporation
CVS Health Corporation, together with its subsidiaries (CVS Health), is a pharmacy company. The Company operates through three business segments: Pharmacy Services, Retail/LTC and Corporate. The Company offers a range of products and services, such as advising patients on their medications at its CVS Pharmacy locations, introducing programs to help control costs for its clients at CVS Caremark, how care is delivered to its patients with conditions through CVS Specialty, pharmacy care for the senior community through Omnicare.
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