Lathrop Investment Management Corp Decreases Holdings in CVS Health Corp (NYSE:CVS)
Lathrop Investment Management Corp cut its holdings in shares of CVS Health Corp (NYSE:CVS) by 1.2% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 167,517 shares of the pharmacy operator’s stock after selling 2,077 shares during the quarter. CVS Health makes up 3.3% of Lathrop Investment Management Corp’s investment portfolio, making the stock its 12th largest holding. Lathrop Investment Management Corp’s holdings in CVS Health were worth $10,884,000 as of its most recent SEC filing.
Several other institutional investors have also made changes to their positions in CVS. Sunbelt Securities Inc. increased its holdings in CVS Health by 17.3% in the 4th quarter. Sunbelt Securities Inc. now owns 29,511 shares of the pharmacy operator’s stock worth $1,990,000 after acquiring an additional 4,345 shares during the last quarter. Nelson Van Denburg & Campbell Wealth Management Group LLC increased its holdings in CVS Health by 327.3% in the 1st quarter. Nelson Van Denburg & Campbell Wealth Management Group LLC now owns 594 shares of the pharmacy operator’s stock worth $35,000 after acquiring an additional 455 shares during the last quarter. IMS Capital Management purchased a new stake in CVS Health in the 1st quarter worth about $500,000. Deane Retirement Strategies Inc. purchased a new stake in CVS Health in the 1st quarter worth about $1,666,000. Finally, Triangle Securities Wealth Management increased its holdings in CVS Health by 3.1% in the 1st quarter. Triangle Securities Wealth Management now owns 27,309 shares of the pharmacy operator’s stock worth $1,620,000 after acquiring an additional 825 shares during the last quarter. 76.04% of the stock is owned by hedge funds and other institutional investors.
Several equities research analysts recently weighed in on CVS shares. SunTrust Banks decreased their price objective on CVS Health from $90.00 to $80.00 and set a “buy” rating for the company in a report on Monday, April 13th. Robert W. Baird raised their target price on CVS Health from $62.00 to $66.00 and gave the stock a “neutral” rating in a research note on Thursday, May 7th. JPMorgan Chase & Co. cut their target price on CVS Health from $97.00 to $94.00 and set an “overweight” rating for the company in a research note on Monday, May 4th. UBS Group cut their target price on CVS Health from $85.00 to $79.00 and set a “buy” rating for the company in a research note on Thursday, May 7th. Finally, Morgan Stanley raised their target price on CVS Health from $71.00 to $77.00 and gave the stock an “overweight” rating in a research note on Thursday, May 7th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating, fourteen have issued a buy rating and two have assigned a strong buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $80.35.
Shares of CVS traded down $1.06 during trading hours on Friday, reaching $62.94. 9,200,682 shares of the company’s stock traded hands, compared to its average volume of 6,159,701. The stock has a market cap of $83.65 billion, a PE ratio of 11.40, a price-to-earnings-growth ratio of 1.42 and a beta of 0.76. The company has a current ratio of 0.99, a quick ratio of 0.70 and a debt-to-equity ratio of 1.29. The firm’s 50 day simple moving average is $63.99 and its 200-day simple moving average is $64.46. CVS Health Corp has a 12 month low of $52.04 and a 12 month high of $77.03.
CVS Health (NYSE:CVS) last issued its quarterly earnings results on Wednesday, May 6th. The pharmacy operator reported $1.91 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.63 by $0.28. The firm had revenue of $66.76 billion during the quarter, compared to the consensus estimate of $64.11 billion. CVS Health had a return on equity of 15.17% and a net margin of 2.76%. The company’s revenue for the quarter was up 8.3% on a year-over-year basis. During the same quarter last year, the company posted $1.62 EPS. As a group, analysts expect that CVS Health Corp will post 7.12 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Monday, August 3rd. Investors of record on Thursday, July 23rd will be given a $0.50 dividend. The ex-dividend date is Wednesday, July 22nd. This represents a $2.00 dividend on an annualized basis and a yield of 3.18%. CVS Health’s payout ratio is 28.25%.
CVS Health Profile
CVS Health Corporation provides health services and plans in the United States. Its Pharmacy Services segment offers pharmacy benefit management solutions, such as plan design and administration, formulary management, retail pharmacy network management, mail order pharmacy, specialty pharmacy and infusion, Medicare Part D, clinical, disease management, and medical spend management services.
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