Impax Asset Management Group plc Grows Holdings in CVS Health Corp (CVS)

Impax Asset Management Group plc raised its holdings in shares of CVS Health Corp (NYSE:CVS) by 25.0% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 16,764 shares of the pharmacy operator’s stock after purchasing an additional 3,358 shares during the quarter. Impax Asset Management Group plc’s holdings in CVS Health were worth $1,098,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also added to or reduced their stakes in CVS. Oregon Public Employees Retirement Fund lifted its position in CVS Health by 6,858.5% during the fourth quarter. Oregon Public Employees Retirement Fund now owns 25,089,377 shares of the pharmacy operator’s stock valued at $383,000 after purchasing an additional 24,728,818 shares during the last quarter. BlackRock Inc. lifted its position in CVS Health by 22.0% during the fourth quarter. BlackRock Inc. now owns 92,954,958 shares of the pharmacy operator’s stock valued at $6,090,409,000 after purchasing an additional 16,757,941 shares during the last quarter. Dodge & Cox bought a new position in CVS Health during the third quarter valued at $1,190,694,000. Geode Capital Management LLC lifted its position in CVS Health by 36.2% during the fourth quarter. Geode Capital Management LLC now owns 16,462,292 shares of the pharmacy operator’s stock valued at $1,076,697,000 after purchasing an additional 4,376,604 shares during the last quarter. Finally, Epoch Investment Partners Inc. lifted its position in CVS Health by 1,908.9% during the fourth quarter. Epoch Investment Partners Inc. now owns 3,872,700 shares of the pharmacy operator’s stock valued at $253,740,000 after purchasing an additional 3,679,925 shares during the last quarter. Institutional investors and hedge funds own 81.55% of the company’s stock.

Several research firms have commented on CVS. Barclays began coverage on shares of CVS Health in a research report on Tuesday, December 18th. They set an “overweight” rating and a $91.00 price objective for the company. Wells Fargo & Co lowered shares of CVS Health from an “outperform” rating to a “market perform” rating and lowered their price objective for the company from $104.00 to $68.00 in a research report on Wednesday, February 20th. ValuEngine upgraded shares of CVS Health from a “strong sell” rating to a “sell” rating in a research report on Thursday, January 24th. Cantor Fitzgerald reiterated a “buy” rating and set a $96.00 price objective on shares of CVS Health in a research report on Thursday, January 3rd. Finally, Bank of America reiterated a “buy” rating and set a $92.00 price objective on shares of CVS Health in a research report on Thursday, January 3rd. One research analyst has rated the stock with a sell rating, five have issued a hold rating and sixteen have given a buy rating to the stock. CVS Health currently has an average rating of “Buy” and an average price target of $79.61.

In related news, SVP James David Clark sold 1,664 shares of the firm’s stock in a transaction dated Friday, March 1st. The shares were sold at an average price of $58.14, for a total value of $96,744.96. Following the transaction, the senior vice president now owns 8,557 shares of the company’s stock, valued at approximately $497,503.98. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, COO Jonathan C. Roberts sold 77,639 shares of the firm’s stock in a transaction dated Friday, February 1st. The stock was sold at an average price of $64.54, for a total transaction of $5,010,821.06. The disclosure for this sale can be found here. In the last three months, insiders bought 23,600 shares of company stock worth $1,270,896 and sold 245,671 shares worth $15,839,966. Corporate insiders own 0.53% of the company’s stock.

Shares of CVS opened at $53.90 on Wednesday. CVS Health Corp has a twelve month low of $51.77 and a twelve month high of $82.15. The firm has a market capitalization of $70.40 billion, a PE ratio of 7.70, a PEG ratio of 1.06 and a beta of 0.94. The company has a current ratio of 1.03, a quick ratio of 0.65 and a debt-to-equity ratio of 1.22.

CVS Health (NYSE:CVS) last announced its earnings results on Wednesday, February 20th. The pharmacy operator reported $2.14 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $2.07 by $0.07. CVS Health had a negative net margin of 0.31% and a positive return on equity of 17.49%. The business had revenue of $54.42 billion for the quarter, compared to the consensus estimate of $53.78 billion. During the same quarter in the prior year, the firm posted $1.92 earnings per share. The business’s revenue for the quarter was up 12.5% on a year-over-year basis. On average, equities research analysts predict that CVS Health Corp will post 6.8 earnings per share for the current year.

The company also recently announced a quarterly dividend, which will be paid on Friday, May 3rd. Stockholders of record on Tuesday, April 23rd will be paid a $0.50 dividend. This represents a $2.00 annualized dividend and a dividend yield of 3.71%. The ex-dividend date is Monday, April 22nd. CVS Health’s dividend payout ratio is currently 28.25%.

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About CVS Health

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

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