Punch & Associates Investment Management Inc. lowered its position in CVS Health Corp (NYSE:CVS) by 1.5% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 54,022 shares of the pharmacy operator’s stock after selling 843 shares during the quarter. Punch & Associates Investment Management Inc.’s holdings in CVS Health were worth $3,361,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Arrowstreet Capital Limited Partnership boosted its stake in shares of CVS Health by 7,225.3% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 6,871,164 shares of the pharmacy operator’s stock valued at $498,159,000 after purchasing an additional 6,777,364 shares during the period. American International Group Inc. raised its holdings in shares of CVS Health by 1,342.0% during the fourth quarter. American International Group Inc. now owns 7,081,461 shares of the pharmacy operator’s stock valued at $513,406,000 after acquiring an additional 6,590,370 shares in the last quarter. BlackRock Inc. raised its holdings in shares of CVS Health by 4.5% during the first quarter. BlackRock Inc. now owns 70,013,482 shares of the pharmacy operator’s stock valued at $4,355,536,000 after acquiring an additional 3,016,972 shares in the last quarter. Old Mutual Global Investors UK Ltd. bought a new position in CVS Health in the fourth quarter worth $211,243,000. Finally, The Manufacturers Life Insurance Company raised its holdings in CVS Health by 149.8% in the fourth quarter. The Manufacturers Life Insurance Company now owns 4,818,244 shares of the pharmacy operator’s stock worth $349,322,000 after purchasing an additional 2,889,561 shares in the last quarter. 83.16% of the stock is owned by institutional investors and hedge funds.
Shares of CVS opened at $70.77 on Wednesday. The company has a market cap of $68.87 billion, a P/E ratio of 11.99, a price-to-earnings-growth ratio of 0.94 and a beta of 1.00. CVS Health Corp has a 12-month low of $60.14 and a 12-month high of $84.00. The company has a debt-to-equity ratio of 1.59, a quick ratio of 1.88 and a current ratio of 2.37.
CVS Health (NYSE:CVS) last issued its earnings results on Wednesday, May 2nd. The pharmacy operator reported $1.48 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.39 by $0.09. The company had revenue of $45.69 billion for the quarter, compared to the consensus estimate of $45.77 billion. CVS Health had a return on equity of 17.45% and a net margin of 3.59%. The firm’s quarterly revenue was up 2.6% on a year-over-year basis. During the same quarter last year, the company earned $1.17 EPS. equities analysts expect that CVS Health Corp will post 6.98 EPS for the current year.
In other CVS Health news, Director C David Brown II bought 10,000 shares of the firm’s stock in a transaction that occurred on Friday, May 4th. The shares were bought at an average price of $61.99 per share, with a total value of $619,900.00. Following the purchase, the director now owns 101,252 shares of the company’s stock, valued at $6,276,611.48. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 0.53% of the stock is currently owned by company insiders.
Several brokerages have recently weighed in on CVS. Bank of America began coverage on CVS Health in a report on Tuesday, February 27th. They set a “buy” rating and a $91.00 price target for the company. Leerink Swann set a $85.00 price objective on CVS Health and gave the company a “buy” rating in a research report on Tuesday, April 10th. ValuEngine cut CVS Health from a “hold” rating to a “sell” rating in a research report on Wednesday, May 2nd. Loop Capital set a $68.00 target price on CVS Health and gave the stock a “hold” rating in a research report on Monday, May 7th. Finally, Mizuho set a $95.00 target price on CVS Health and gave the stock a “buy” rating in a research report on Wednesday, June 13th. Three investment analysts have rated the stock with a sell rating, six have assigned a hold rating, eleven have given a buy rating and two have assigned a strong buy rating to the stock. The company currently has an average rating of “Buy” and a consensus target price of $86.27.
CVS Health Company Profile
CVS Health Corporation, together with its subsidiaries, provides integrated pharmacy health care services. It operates through Pharmacy Services and Retail/LTC segments. The Pharmacy Services segment offers pharmacy benefit management solutions, such as plan design and administration, formulary management, Medicare Part D services, mail order, specialty pharmacy and infusion services, retail pharmacy network management services, prescription management systems, clinical services, disease management programs, and medical pharmacy management services.
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