Jupiter Asset Management Ltd. Sells 24,948 Shares of CVS Health Corp (CVS)

Jupiter Asset Management Ltd. lowered its position in shares of CVS Health Corp (NYSE:CVS) by 15.6% during the first quarter, HoldingsChannel.com reports. The firm owned 134,867 shares of the pharmacy operator’s stock after selling 24,948 shares during the quarter. Jupiter Asset Management Ltd.’s holdings in CVS Health were worth $8,390,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently made changes to their positions in CVS. Wagner Wealth Management LLC bought a new position in CVS Health during the 4th quarter worth $114,000. IFG Advisory LLC bought a new position in CVS Health during the 4th quarter worth $1,504,000. Quantbot Technologies LP bought a new position in CVS Health during the 1st quarter worth $103,000. Focused Wealth Management Inc increased its stake in CVS Health by 90.5% during the 4th quarter. Focused Wealth Management Inc now owns 1,781 shares of the pharmacy operator’s stock worth $129,000 after acquiring an additional 846 shares during the period. Finally, Cerebellum GP LLC bought a new position in CVS Health during the 4th quarter worth $130,000. Institutional investors own 83.36% of the company’s stock.

Shares of CVS stock opened at $66.35 on Wednesday. The firm has a market capitalization of $68.05 billion, a price-to-earnings ratio of 11.25, a price-to-earnings-growth ratio of 0.93 and a beta of 1.00. CVS Health Corp has a fifty-two week low of $60.14 and a fifty-two week 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 for the quarter, beating the Zacks’ consensus estimate of $1.39 by $0.09. The firm 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 company’s revenue was up 2.6% compared to the same quarter last year. During the same quarter last year, the business posted $1.17 EPS. analysts forecast that CVS Health Corp will post 6.98 earnings per share for the current year.

In other CVS Health news, Director C David Brown II bought 10,000 shares of CVS Health stock in a transaction on Friday, May 4th. The shares were purchased at an average price of $61.99 per share, with a total value of $619,900.00. Following the acquisition, the director now owns 101,252 shares in the company, valued at approximately $6,276,611.48. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. Company insiders own 0.53% of the company’s stock.

A number of equities analysts have commented on the company. Citigroup set a $77.00 price objective on CVS Health and gave the stock a “neutral” rating in a research note on Tuesday, February 13th. Bank of America assumed coverage on CVS Health in a research note on Tuesday, February 27th. They set a “buy” rating and a $91.00 price objective on the stock. ValuEngine lowered CVS Health from a “hold” rating to a “sell” rating in a research note on Wednesday, May 2nd. Leerink Swann set a $85.00 price objective on CVS Health and gave the stock a “buy” rating in a research note on Tuesday, April 10th. Finally, Loop Capital set a $68.00 price objective on CVS Health and gave the stock a “hold” rating in a research note on Monday, May 7th. Three analysts have rated the stock with a sell rating, six have given a hold rating, eleven have issued a buy rating and two have given a strong buy rating to the stock. The stock has a consensus rating of “Buy” and an average price target 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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Institutional Ownership by Quarter for CVS Health (NYSE:CVS)

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