CVS Health Corporation (CVS) Holdings Cut by Commerce Bank

Commerce Bank trimmed its position in shares of CVS Health Corporation (NYSE:CVS) by 13.0% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 217,379 shares of the pharmacy operator’s stock after selling 32,451 shares during the period. Commerce Bank’s holdings in CVS Health Corporation were worth $17,491,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in the business. Newman Dignan & Sheerar Inc. boosted its holdings in CVS Health Corporation by 0.7% during the second quarter. Newman Dignan & Sheerar Inc. now owns 30,560 shares of the pharmacy operator’s stock valued at $2,459,000 after acquiring an additional 198 shares during the period. Atwood & Palmer Inc. boosted its holdings in CVS Health Corporation by 4.0% during the second quarter. Atwood & Palmer Inc. now owns 202,360 shares of the pharmacy operator’s stock valued at $16,282,000 after acquiring an additional 7,774 shares during the period. Cim Investment Mangement Inc. boosted its holdings in CVS Health Corporation by 96.5% during the second quarter. Cim Investment Mangement Inc. now owns 15,840 shares of the pharmacy operator’s stock valued at $1,274,000 after acquiring an additional 7,777 shares during the period. Boston Research & Management Inc. boosted its holdings in CVS Health Corporation by 1.5% during the second quarter. Boston Research & Management Inc. now owns 35,187 shares of the pharmacy operator’s stock valued at $2,831,000 after acquiring an additional 520 shares during the period. Finally, Crawford Investment Counsel Inc. boosted its holdings in CVS Health Corporation by 6.8% during the second quarter. Crawford Investment Counsel Inc. now owns 687,232 shares of the pharmacy operator’s stock valued at $55,295,000 after acquiring an additional 43,615 shares during the period. Institutional investors own 81.46% of the company’s stock.

A number of equities research analysts have issued reports on the stock. Needham & Company LLC upgraded shares of CVS Health Corporation from a “hold” rating to a “buy” rating and upped their price target for the company from $69.02 to $79.00 in a report on Friday. Loop Capital cut their price objective on shares of CVS Health Corporation from $83.00 to $73.00 and set a “hold” rating for the company in a research report on Tuesday, November 7th. Jefferies Group LLC cut their price objective on shares of CVS Health Corporation from $86.00 to $76.00 and set a “hold” rating for the company in a research report on Tuesday, November 7th. Leerink Swann reaffirmed an “outperform” rating and set a $85.00 price objective (down previously from $90.00) on shares of CVS Health Corporation in a research report on Tuesday, November 7th. Finally, Citigroup Inc. cut their price objective on shares of CVS Health Corporation from $87.00 to $74.00 and set a “neutral” rating for the company in a research report on Friday, November 3rd. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and fourteen have given a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average price target of $85.82.

In other news, insider Larry J. Merlo sold 241,150 shares of the firm’s stock in a transaction that occurred on Wednesday, September 13th. The shares were sold at an average price of $83.07, for a total transaction of $20,032,330.50. Following the completion of the sale, the insider now owns 299,255 shares of the company’s stock, valued at $24,859,112.85. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Richard J. Swift sold 2,500 shares of the firm’s stock in a transaction that occurred on Wednesday, August 16th. The stock was sold at an average price of $79.62, for a total transaction of $199,050.00. Following the sale, the director now directly owns 3,258 shares of the company’s stock, valued at approximately $259,401.96. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 716,625 shares of company stock valued at $58,318,431. Company insiders own 0.61% of the company’s stock.

Shares of CVS Health Corporation (CVS) opened at $70.99 on Friday. The firm has a market cap of $71,912.30, a P/E ratio of 12.43, a PEG ratio of 1.22 and a beta of 0.86. The company has a debt-to-equity ratio of 0.67, a quick ratio of 0.56 and a current ratio of 1.05. CVS Health Corporation has a fifty-two week low of $66.45 and a fifty-two week high of $84.72.

CVS Health Corporation (NYSE:CVS) last posted its quarterly earnings data on Monday, November 6th. The pharmacy operator reported $1.50 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.49 by $0.01. The company had revenue of $46.18 billion during the quarter, compared to analyst estimates of $46.17 billion. CVS Health Corporation had a net margin of 2.77% and a return on equity of 16.96%. The company’s revenue was up 3.5% on a year-over-year basis. During the same quarter last year, the business posted $1.64 earnings per share. equities research analysts forecast that CVS Health Corporation will post 5.89 EPS for the current year.

The company also recently disclosed a quarterly dividend, which was paid on Friday, November 3rd. Stockholders of record on Tuesday, October 24th were issued a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a dividend yield of 2.82%. The ex-dividend date was Monday, October 23rd. CVS Health Corporation’s payout ratio is 41.32%.

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CVS Health Corporation Profile

CVS Health Corporation, together with its subsidiaries, is an integrated pharmacy healthcare company. The Company provides pharmacy care for the senior community through Omnicare, Inc (Omnicare) and Omnicare’s long-term care (LTC) operations, which include distribution of pharmaceuticals, related pharmacy consulting and other ancillary services to chronic care facilities and other care settings.

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

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