Trading Report: Today: Premier Fund Managers Ltd Acquires 8,000 Shares of CVS Health Corporation (CVS)

Today: Premier Fund Managers Ltd Acquires 8,000 Shares of CVS Health Corporation (CVS)

Premier Fund Managers Ltd raised its position in shares of CVS Health Corporation (NYSE:CVS) by 30.8% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 34,000 shares of the pharmacy operator’s stock after buying an additional 8,000 shares during the period. CVS Health Corporation accounts for 3.1% of Premier Fund Managers Ltd’s portfolio, making the stock its 11th largest position. Premier Fund Managers Ltd’s holdings in CVS Health Corporation were worth $3,209,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. MU Investments Co. Ltd. increased its stake in shares of CVS Health Corporation by 62.0% in the second quarter. MU Investments Co. Ltd. now owns 1,150 shares of the pharmacy operator’s stock worth $109,000 after buying an additional 440 shares in the last quarter. Springbok Capital Management LLC increased its stake in shares of CVS Health Corporation by 190.5% in the first quarter. Springbok Capital Management LLC now owns 1,130 shares of the pharmacy operator’s stock worth $117,000 after buying an additional 741 shares in the last quarter. Arcadia Investment Management Corp MI increased its stake in shares of CVS Health Corporation by 87.7% in the second quarter. Arcadia Investment Management Corp MI now owns 1,605 shares of the pharmacy operator’s stock worth $154,000 after buying an additional 750 shares in the last quarter. Physicians Financial Services Inc. increased its stake in shares of CVS Health Corporation by 5.8% in the second quarter. Physicians Financial Services Inc. now owns 1,849 shares of the pharmacy operator’s stock worth $177,000 after buying an additional 101 shares in the last quarter. Finally, Highland Private Wealth Management bought a new stake in shares of CVS Health Corporation during the first quarter worth about $198,000. 80.95% of the stock is owned by hedge funds and other institutional investors.

CVS Health Corporation (NYSE:CVS) traded up 0.91% during midday trading on Friday, hitting $88.80. The company had a trading volume of 6,705,822 shares. The company has a market cap of $94.68 billion, a price-to-earnings ratio of 20.43 and a beta of 0.83. CVS Health Corporation has a 12 month low of $85.41 and a 12 month high of $106.67. The firm has a 50-day moving average price of $90.11 and a 200-day moving average price of $96.45.

CVS Health Corporation (NYSE:CVS) last announced its 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. CVS Health Corporation had a return on equity of 15.86% and a net margin of 2.88%. The company had revenue of $43.70 billion for the quarter, compared to the consensus estimate of $44.28 billion. During the same period last year, the business posted $1.19 EPS. The company’s revenue was up 17.6% on a year-over-year basis. Equities analysts anticipate that CVS Health Corporation will post $5.86 EPS for the current year.

The business also recently announced a quarterly dividend, which will be paid on Thursday, November 3rd. Shareholders 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 1.91%. CVS Health Corporation’s dividend payout ratio (DPR) is currently 39.08%.

A number of analysts recently issued reports on the company. Mizuho raised their price target on CVS Health Corporation from $108.00 to $111.00 and gave the stock a “buy” rating in a research report on Thursday, August 4th. Citigroup Inc. lowered their price target on CVS Health Corporation from $115.00 to $108.00 and set a “neutral” rating for the company in a research report on Monday, August 8th. Vetr downgraded 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 report on Monday, July 25th. Morgan Stanley downgraded CVS Health Corporation from an “overweight” rating to an “equal weight” rating and decreased their target price for the stock from $111.00 to $104.00 in a research report on Monday, June 20th. Finally, Leerink Swann reiterated a “buy” rating on shares of CVS Health Corporation in a research report on Wednesday, August 3rd. Five 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 company’s stock. The company currently has an average 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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