Sanders Morris Harris LLC Purchases Shares of 59,347 CVS Health Corp (NYSE:CVS)
Sanders Morris Harris LLC purchased a new stake in CVS Health Corp (NYSE:CVS) in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 59,347 shares of the pharmacy operator’s stock, valued at approximately $3,469,000. CVS Health makes up about 0.9% of Sanders Morris Harris LLC’s portfolio, making the stock its 22nd largest position.
A number of other institutional investors have also recently bought and sold shares of CVS. BlackRock Inc. grew its stake in shares of CVS Health by 1.3% in the 2nd quarter. BlackRock Inc. now owns 97,156,370 shares of the pharmacy operator’s stock valued at $6,312,247,000 after purchasing an additional 1,281,119 shares during the period. State Street Corp grew its position in CVS Health by 0.5% during the 1st quarter. State Street Corp now owns 56,039,417 shares of the pharmacy operator’s stock worth $3,324,819,000 after acquiring an additional 251,722 shares during the last quarter. Morgan Stanley grew its position in CVS Health by 19.4% during the 1st quarter. Morgan Stanley now owns 20,645,844 shares of the pharmacy operator’s stock worth $1,224,919,000 after acquiring an additional 3,352,364 shares during the last quarter. Nordea Investment Management AB lifted its holdings in CVS Health by 91.3% during the 2nd quarter. Nordea Investment Management AB now owns 18,518,644 shares of the pharmacy operator’s stock worth $1,189,082,000 after buying an additional 8,837,591 shares in the last quarter. Finally, Capital World Investors lifted its holdings in CVS Health by 12.5% during the 1st quarter. Capital World Investors now owns 12,343,789 shares of the pharmacy operator’s stock worth $732,357,000 after buying an additional 1,369,061 shares in the last quarter. 75.88% of the stock is owned by hedge funds and other institutional investors.
CVS has been the topic of several research reports. Piper Sandler initiated coverage on CVS Health in a report on Thursday, September 17th. They set an “overweight” rating and a $72.00 price objective on the stock. Deutsche Bank Aktiengesellschaft reduced their price objective on CVS Health from $109.00 to $104.00 and set a “buy” rating on the stock in a report on Thursday, August 6th. Credit Suisse Group upped their price objective on CVS Health from $75.00 to $90.00 and gave the stock an “outperform” rating in a report on Friday, August 7th. SVB Leerink upped their price objective on CVS Health from $72.00 to $73.00 and gave the stock a “market perform” rating in a report on Thursday, August 6th. Finally, Royal Bank of Canada reaffirmed a “buy” rating on shares of CVS Health in a report on Thursday, July 9th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating, thirteen have given a buy rating and two have assigned a strong buy rating to the stock. CVS Health has a consensus rating of “Buy” and a consensus target price of $81.94.
CVS Health (NYSE:CVS) last issued its quarterly earnings data on Wednesday, August 5th. The pharmacy operator reported $2.64 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.93 by $0.71. The business had revenue of $65.30 billion for the quarter, compared to the consensus estimate of $64.29 billion. CVS Health had a return on equity of 16.32% and a net margin of 3.13%. The firm’s revenue was up 2.9% compared to the same quarter last year. During the same quarter last year, the business posted $1.89 EPS. Research analysts expect that CVS Health Corp will post 7.22 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Monday, November 2nd. Shareholders of record on Thursday, October 22nd will be issued a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a yield of 3.36%. The ex-dividend date is Wednesday, October 21st. CVS Health’s dividend payout ratio (DPR) is presently 28.25%.
CVS Health Company 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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