Private Advisor Group LLC reduced its stake in CVS Health Corp (NYSE:CVS) by 71.7% during the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 37,394 shares of the pharmacy operator’s stock after selling 94,946 shares during the quarter. Private Advisor Group LLC’s holdings in CVS Health were worth $2,923,000 at the end of the most recent reporting period.
Other hedge funds also recently modified their holdings of the company. Keel Point LLC boosted its holdings in shares of CVS Health by 0.7% in the 1st quarter. Keel Point LLC now owns 3,296 shares of the pharmacy operator’s stock valued at $259,000 after buying an additional 22 shares in the last quarter. First City Capital Management Inc. boosted its holdings in shares of CVS Health by 0.3% in the 1st quarter. First City Capital Management Inc. now owns 12,771 shares of the pharmacy operator’s stock valued at $1,003,000 after buying an additional 40 shares in the last quarter. Elefante Mark B boosted its holdings in shares of CVS Health by 0.7% in the 2nd quarter. Elefante Mark B now owns 6,400 shares of the pharmacy operator’s stock valued at $515,000 after buying an additional 45 shares in the last quarter. Traynor Capital Management Inc. boosted its stake in CVS Health by 1.3% during the 2nd quarter. Traynor Capital Management Inc. now owns 3,676 shares of the pharmacy operator’s stock worth $290,000 after purchasing an additional 48 shares during the period. Finally, Sequoia Financial Advisors LLC boosted its stake in CVS Health by 0.8% during the 2nd quarter. Sequoia Financial Advisors LLC now owns 6,406 shares of the pharmacy operator’s stock worth $515,000 after purchasing an additional 53 shares during the period. Hedge funds and other institutional investors own 82.24% of the company’s stock.
CVS Health Corp (NYSE:CVS) traded up $0.37 on Wednesday, hitting $71.38. 12,369,662 shares of the company traded hands, compared to its average volume of 6,904,046. The company has a debt-to-equity ratio of 0.67, a current ratio of 1.05 and a quick ratio of 0.55. CVS Health Corp has a twelve month low of $66.45 and a twelve month high of $84.72. The firm has a market capitalization of $72,621.40, a PE ratio of 12.56, a PEG ratio of 1.23 and a beta of 0.89.
CVS Health (NYSE:CVS) last announced its quarterly earnings results on Monday, November 6th. The pharmacy operator reported $1.50 earnings per share for the quarter, beating analysts’ consensus estimates of $1.49 by $0.01. The firm had revenue of $46.18 billion for the quarter, compared to analysts’ expectations of $46.17 billion. CVS Health had a net margin of 2.77% and a return on equity of 16.96%. CVS Health’s revenue was up 3.5% compared to the same quarter last year. During the same period in the previous year, the company posted $1.64 earnings per share. research analysts expect that CVS Health Corp will post 5.9 earnings per share for the current year.
In other CVS Health news, EVP Thomas M. Moriarty sold 90,267 shares of the business’s stock in a transaction on Monday, September 11th. The shares were sold at an average price of $79.61, for a total transaction of $7,186,155.87. Following the completion of the sale, the executive vice president now owns 70,102 shares in the company, valued at $5,580,820.22. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider Larry J. Merlo sold 241,150 shares of the business’s stock in a transaction 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 sale, the insider now owns 299,255 shares of the company’s stock, valued at approximately $24,859,112.85. The disclosure for this sale can be found here. Insiders have sold 714,125 shares of company stock worth $58,119,381 in the last quarter. Insiders own 0.61% of the company’s stock.
A number of analysts recently weighed in on the stock. Loop Capital reduced their target price on shares of CVS Health from $83.00 to $73.00 and set a “hold” rating for the company in a research note on Tuesday, November 7th. Needham & Company LLC increased their price target on shares of CVS Health from $79.00 to $85.00 and gave the company a “buy” rating in a report on Monday. Jefferies Group cut their price target on shares of CVS Health from $86.00 to $76.00 and set a “hold” rating for the company in a report on Tuesday, November 7th. Deutsche Bank assumed coverage on shares of CVS Health in a report on Monday. They issued a “buy” rating and a $90.00 price target for the company. Finally, Raymond James Financial reiterated a “buy” rating on shares of CVS Health in a report on Monday. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and fifteen have issued a buy rating to the company. CVS Health has a consensus rating of “Buy” and a consensus price target of $86.35.
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CVS Health 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.
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