Putnam Investments LLC lowered its position in CVS Health Co. (NYSE:CVS – Get Rating) by 2.2% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 775,847 shares of the pharmacy operator’s stock after selling 17,694 shares during the quarter. Putnam Investments LLC owned approximately 0.06% of CVS Health worth $72,301,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other hedge funds and other institutional investors have also recently bought and sold shares of CVS. Edmp Inc. lifted its position in CVS Health by 9,117.8% in the fourth quarter. Edmp Inc. now owns 4,582,251 shares of the pharmacy operator’s stock valued at $49,171,000 after purchasing an additional 4,532,540 shares during the last quarter. Capital Research Global Investors bought a new stake in CVS Health in the first quarter valued at approximately $262,167,000. Vanguard Group Inc. lifted its position in CVS Health by 1.5% in the third quarter. Vanguard Group Inc. now owns 115,934,841 shares of the pharmacy operator’s stock valued at $11,056,706,000 after purchasing an additional 1,726,512 shares during the last quarter. Cottage Street Advisors LLC lifted its position in CVS Health by 6,966.4% in the fourth quarter. Cottage Street Advisors LLC now owns 1,489,379 shares of the pharmacy operator’s stock valued at $473,000 after purchasing an additional 1,468,302 shares during the last quarter. Finally, Epoch Investment Partners Inc. lifted its position in CVS Health by 158.8% in the fourth quarter. Epoch Investment Partners Inc. now owns 1,753,244 shares of the pharmacy operator’s stock valued at $163,385,000 after purchasing an additional 1,075,772 shares during the last quarter. Institutional investors own 77.29% of the company’s stock.
Insider Activity at CVS Health
In other CVS Health news, CEO Karen S. Lynch acquired 14,000 shares of the company’s stock in a transaction that occurred on Wednesday, May 3rd. The shares were bought at an average cost of $69.75 per share, with a total value of $976,500.00. Following the completion of the transaction, the chief executive officer now directly owns 431,392 shares of the company’s stock, valued at approximately $30,089,592. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.25% of the stock is currently owned by insiders.
CVS Health Trading Down 0.4 %
CVS Health (NYSE:CVS – Get Rating) last released its quarterly earnings data on Wednesday, May 3rd. The pharmacy operator reported $2.20 EPS for the quarter, beating the consensus estimate of $2.07 by $0.13. CVS Health had a return on equity of 15.75% and a net margin of 1.20%. The company had revenue of $85.28 billion for the quarter, compared to analysts’ expectations of $80.67 billion. During the same period last year, the firm posted $2.22 earnings per share. CVS Health’s revenue was up 11.0% compared to the same quarter last year. As a group, equities analysts forecast that CVS Health Co. will post 8.62 EPS for the current fiscal year.
CVS Health Dividend Announcement
The firm also recently disclosed a quarterly dividend, which was paid on Monday, May 1st. Investors of record on Friday, April 21st were given a dividend of $0.605 per share. The ex-dividend date was Thursday, April 20th. This represents a $2.42 annualized dividend and a dividend yield of 3.38%. CVS Health’s dividend payout ratio (DPR) is presently 79.87%.
Analyst Ratings Changes
A number of brokerages recently commented on CVS. TheStreet downgraded CVS Health from a “b” rating to a “c” rating in a report on Wednesday, May 3rd. JPMorgan Chase & Co. decreased their target price on CVS Health from $125.00 to $114.00 in a report on Tuesday, May 30th. Sanford C. Bernstein decreased their target price on CVS Health from $107.00 to $93.00 in a report on Tuesday, May 2nd. UBS Group reduced their price target on CVS Health from $102.00 to $94.00 in a research note on Tuesday, May 2nd. Finally, 92 Resources reaffirmed a “maintains” rating on shares of CVS Health in a research note on Monday, May 8th. Two analysts have rated the stock with a hold rating and sixteen have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $108.20.
CVS Health Company Profile
CVS Health Corp. is a health solutions company, which engages in the provision of healthcare services. It operates through the following segments: Pharmacy Services, Retail or Long-Term Care, Health Care Benefits, and Corporate and Other. The Pharmacy Services segment focuses on the pharmacy benefit management solutions.
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