Lincoln Capital Corp boosted its position in shares of CVS Health Corp (NYSE:CVS) by 38.1% in the 3rd quarter, Holdings Channel reports. The firm owned 27,903 shares of the pharmacy operator’s stock after buying an additional 7,702 shares during the period. CVS Health accounts for about 1.8% of Lincoln Capital Corp’s investment portfolio, making the stock its 21st largest holding. Lincoln Capital Corp’s holdings in CVS Health were worth $2,197,000 as of its most recent SEC filing.
A number of other hedge funds have also recently made changes to their positions in the stock. Camarda Financial Advisors LLC acquired a new stake in CVS Health in the 2nd quarter valued at about $102,000. Quantbot Technologies LP acquired a new stake in CVS Health in the 1st quarter valued at about $103,000. Kiley Juergens Wealth Management LLC acquired a new stake in CVS Health in the 2nd quarter valued at about $103,000. Legacy Advisors LLC increased its position in CVS Health by 7,100.0% in the 2nd 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 2nd quarter valued at about $122,000. 82.75% of the stock is owned by hedge funds and other institutional investors.
Several equities research analysts have weighed in on the stock. Royal Bank of Canada raised their price objective on shares of CVS Health to $101.00 and gave the company an “outperform” rating in a research report on Tuesday, September 18th. Bank of America lifted their price target on shares of CVS Health from $86.00 to $90.00 and gave the stock a “buy” rating in a research report on Monday, September 17th. ValuEngine upgraded shares of CVS Health from a “strong sell” rating to a “sell” rating in a research report on Monday, September 10th. Leerink Swann set a $80.00 price target on shares of CVS Health and gave the stock an “outperform” rating in a research report on Thursday, August 9th. Finally, Citigroup reiterated a “buy” rating and set a $81.00 price target on shares of CVS Health in a research report on Monday, July 9th. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating, ten have given a buy rating and two have issued a strong buy rating to the stock. CVS Health currently has an average rating of “Buy” and an average target price of $86.31.
Shares of NYSE:CVS opened at $79.49 on Wednesday. CVS Health Corp has a one year low of $60.14 and a one year high of $83.88. The company has a quick ratio of 1.87, a current ratio of 2.34 and a debt-to-equity ratio of 1.73. The company has a market cap of $80.14 billion, a PE ratio of 13.47, a price-to-earnings-growth ratio of 1.05 and a beta of 1.02.
CVS Health (NYSE:CVS) last issued its quarterly earnings results on Wednesday, August 8th. The pharmacy operator reported $1.69 EPS for the quarter, topping the consensus estimate of $1.61 by $0.08. CVS Health had a net margin of 1.61% and a return on equity of 18.25%. The company had revenue of $46.71 billion during the quarter, compared to analysts’ expectations of $46.34 billion. During the same quarter in the previous year, the company earned $1.33 EPS. CVS Health’s revenue was up 2.2% on a year-over-year basis. As a group, equities research analysts forecast that CVS Health Corp will post 7.05 earnings per share for the current fiscal year.
The company also recently disclosed 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 dividend on an annualized basis and a yield of 2.52%. The ex-dividend date is Tuesday, October 23rd. CVS Health’s dividend payout ratio is currently 33.90%.
In related news, EVP Eva C. Boratto sold 13,311 shares of the business’s stock in a transaction that occurred on Monday, September 17th. The shares were sold at an average price of $77.16, for a total transaction of $1,027,076.76. Following the completion of the transaction, the executive vice president now owns 55,162 shares in the company, valued at $4,256,299.92. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Lisa Bisaccia sold 21,534 shares of the business’s stock in a transaction that occurred on Monday, October 1st. The shares were sold at an average price of $80.00, for a total transaction of $1,722,720.00. The disclosure for this sale can be found here. In the last 90 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 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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