Sector Gamma AS Has $13.69 Million Stake in CVS Health Corporation $CVS

Key Points

• Sector Gamma AS reduced its stake in CVS Health Corporation by 6.9%, now holding 202,000 shares worth approximately $13.7 million.
• In its latest quarter, CVS Health reported earnings of $1.81 per share, surpassing estimates, while revenue reached $98.92 billion, reflecting an 8.4% increase year-over-year.
• CVS Health's recent quarterly dividend was set at $0.665 per share, yielding an annualized amount of $2.66 with a payout ratio of 74.30%.

Sector Gamma AS reduced its position in CVS Health Corporation (NYSE:CVS - Free Report) by 6.9% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 202,000 shares of the pharmacy operator's stock after selling 15,000 shares during the quarter. CVS Health makes up approximately 4.4% of Sector Gamma AS's portfolio, making the stock its 8th biggest position. Sector Gamma AS's holdings in CVS Health were worth $13,686,000 at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in CVS. Leigh Baldwin & CO. LLC grew its position in shares of CVS Health by 4.9% during the first quarter. Leigh Baldwin & CO. LLC now owns 6,548 shares of the pharmacy operator's stock worth $444,000 after acquiring an additional 308 shares during the last quarter. Aberdeen Group plc boosted its stake in shares of CVS Health by 52.4% during the 1st quarter. Aberdeen Group plc now owns 1,143,478 shares of the pharmacy operator's stock worth $77,288,000 after acquiring an additional 393,367 shares in the last quarter. Horizon Investments LLC raised its position in shares of CVS Health by 43.1% during the 1st quarter. Horizon Investments LLC now owns 51,846 shares of the pharmacy operator's stock worth $3,477,000 after purchasing an additional 15,619 shares during the last quarter. KLCM Advisors Inc. acquired a new position in shares of CVS Health during the 1st quarter valued at about $218,000. Finally, Kovitz Investment Group Partners LLC boosted its position in shares of CVS Health by 266.4% in the first quarter. Kovitz Investment Group Partners LLC now owns 204,515 shares of the pharmacy operator's stock worth $13,856,000 after acquiring an additional 148,703 shares during the last quarter. Institutional investors and hedge funds own 80.66% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on CVS shares. UBS Group raised shares of CVS Health from a "neutral" rating to a "buy" rating and increased their price objective for the company from $67.00 to $79.00 in a research report on Monday. Wall Street Zen raised shares of CVS Health from a "hold" rating to a "buy" rating in a research report on Friday, May 9th. Truist Financial lifted their target price on CVS Health from $82.00 to $84.00 and gave the stock a "buy" rating in a research report on Monday, May 12th. Bernstein Bank dropped their price target on CVS Health from $78.00 to $72.00 and set a "market perform" rating on the stock in a research report on Wednesday, July 16th. Finally, Robert W. Baird upgraded shares of CVS Health from a "neutral" rating to an "outperform" rating and raised their price target for the stock from $71.00 to $82.00 in a research report on Thursday. One analyst has rated the stock with a hold rating, twenty have assigned a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, CVS Health currently has an average rating of "Buy" and an average price target of $76.32.

CVS Health Stock Up 2.2%

CVS traded up $1.52 during trading on Monday, reaching $70.12. The company had a trading volume of 9,243,297 shares, compared to its average volume of 9,001,725. The business's fifty day moving average price is $64.96 and its 200 day moving average price is $64.72. The company has a debt-to-equity ratio of 0.74, a current ratio of 0.80 and a quick ratio of 0.62. CVS Health Corporation has a 12 month low of $43.56 and a 12 month high of $72.51. The company has a market cap of $88.94 billion, a P/E ratio of 19.59, a PEG ratio of 0.76 and a beta of 0.58.

CVS Health (NYSE:CVS - Get Free Report) last announced its earnings results on Thursday, July 31st. The pharmacy operator reported $1.81 EPS for the quarter, topping the consensus estimate of $1.46 by $0.35. The business had revenue of $98.92 billion during the quarter, compared to analysts' expectations of $94.87 billion. CVS Health had a net margin of 1.17% and a return on equity of 10.51%. The firm's revenue was up 8.4% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.83 earnings per share. Equities analysts anticipate that CVS Health Corporation will post 5.89 EPS for the current year.

CVS Health Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 1st. Shareholders of record on Tuesday, July 22nd were paid a $0.665 dividend. The ex-dividend date was Tuesday, July 22nd. This represents a $2.66 annualized dividend and a yield of 3.8%. CVS Health's dividend payout ratio is currently 74.30%.

Insider Transactions at CVS Health

In other CVS Health news, Director Guy P. Sansone bought 1,570 shares of the stock in a transaction on Thursday, June 5th. The stock was purchased at an average price of $63.70 per share, with a total value of $100,009.00. Following the completion of the purchase, the director owned 12,007 shares in the company, valued at $764,845.90. The trade was a 15.04% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through the SEC website. 1.22% of the stock is owned by corporate insiders.

CVS Health Profile

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.