Letko Brosseau & Associates Inc. Has $61.26 Million Position in CVS Health Co. (NYSE:CVS)

Letko Brosseau & Associates Inc. boosted its position in CVS Health Co. (NYSE:CVSFree Report) by 36.6% during the second quarter, Holdings Channel reports. The institutional investor owned 1,037,265 shares of the pharmacy operator’s stock after purchasing an additional 278,110 shares during the quarter. Letko Brosseau & Associates Inc.’s holdings in CVS Health were worth $61,261,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. International Assets Investment Management LLC lifted its position in CVS Health by 11.4% during the 4th quarter. International Assets Investment Management LLC now owns 16,744 shares of the pharmacy operator’s stock worth $1,322,000 after buying an additional 1,715 shares in the last quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management acquired a new position in CVS Health during the fourth quarter valued at approximately $214,000. Gryphon Financial Partners LLC increased its position in shares of CVS Health by 48.3% during the 4th quarter. Gryphon Financial Partners LLC now owns 8,151 shares of the pharmacy operator’s stock worth $654,000 after purchasing an additional 2,653 shares during the last quarter. Principal Securities Inc. bought a new stake in shares of CVS Health during the 4th quarter worth approximately $3,236,000. Finally, Lebenthal Global Advisors LLC acquired a new stake in shares of CVS Health in the 4th quarter valued at approximately $241,000. Institutional investors own 80.66% of the company’s stock.

Wall Street Analyst Weigh In

CVS has been the topic of several analyst reports. Evercore ISI dropped their price target on shares of CVS Health from $65.00 to $62.00 and set an “outperform” rating on the stock in a research report on Thursday, August 8th. Royal Bank of Canada reiterated an “outperform” rating and issued a $68.00 target price on shares of CVS Health in a research note on Wednesday. Deutsche Bank Aktiengesellschaft lowered their price target on CVS Health from $64.00 to $63.00 and set a “hold” rating on the stock in a research report on Friday, August 9th. Barclays cut their price objective on CVS Health from $65.00 to $63.00 and set an “equal weight” rating for the company in a research report on Thursday, August 8th. Finally, JPMorgan Chase & Co. dropped their price target on CVS Health from $101.00 to $86.00 and set an “overweight” rating on the stock in a research note on Thursday, May 30th. Eleven research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to MarketBeat, CVS Health currently has a consensus rating of “Moderate Buy” and a consensus price target of $72.48.

Get Our Latest Research Report on CVS Health

CVS Health Price Performance

CVS stock traded down $0.32 during midday trading on Friday, reaching $57.75. The company had a trading volume of 6,263,025 shares, compared to its average volume of 11,149,185. The company has a market capitalization of $72.50 billion, a price-to-earnings ratio of 10.15, a price-to-earnings-growth ratio of 0.80 and a beta of 0.53. The company has a debt-to-equity ratio of 0.83, a current ratio of 0.86 and a quick ratio of 0.66. CVS Health Co. has a 1-year low of $52.77 and a 1-year high of $83.25. The stock has a 50 day moving average price of $58.29 and a 200-day moving average price of $63.86.

CVS Health (NYSE:CVSGet Free Report) last issued its earnings results on Wednesday, August 7th. The pharmacy operator reported $1.83 EPS for the quarter, beating the consensus estimate of $1.73 by $0.10. The company had revenue of $91.23 billion during the quarter, compared to analysts’ expectations of $91.41 billion. CVS Health had a net margin of 1.98% and a return on equity of 12.72%. The business’s revenue for the quarter was up 2.6% compared to the same quarter last year. During the same period in the previous year, the company earned $2.21 EPS. Equities research analysts expect that CVS Health Co. will post 6.52 earnings per share for the current year.

CVS Health Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, August 1st. Shareholders of record on Monday, July 22nd were given a $0.665 dividend. This represents a $2.66 dividend on an annualized basis and a yield of 4.61%. The ex-dividend date was Monday, July 22nd. CVS Health’s dividend payout ratio is presently 46.75%.

CVS Health Company Profile

(Free Report)

CVS Health Corporation provides health solutions in the United States. It operates through Health Care Benefits, Health Services, and Pharmacy & Consumer Wellness segments. The Health Care Benefits segment offers traditional, voluntary, and consumer-directed health insurance products and related services.

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Institutional Ownership by Quarter for CVS Health (NYSE:CVS)

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