Patton Albertson Miller Group LLC lifted its stake in CVS Health Corp (NYSE:CVS) by 3.1% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 39,013 shares of the pharmacy operator’s stock after purchasing an additional 1,173 shares during the period. Patton Albertson Miller Group LLC’s holdings in CVS Health were worth $2,315,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors also recently made changes to their positions in CVS. Wealth Quarterback LLC purchased a new position in CVS Health during the 4th quarter valued at about $12,665,010,000. Norges Bank purchased a new position in CVS Health during the 4th quarter valued at about $955,672,000. Capital World Investors increased its holdings in CVS Health by 744.2% during the 4th quarter. Capital World Investors now owns 10,974,728 shares of the pharmacy operator’s stock valued at $815,313,000 after acquiring an additional 9,674,728 shares in the last quarter. Morgan Stanley increased its holdings in CVS Health by 19.4% during the 1st quarter. Morgan Stanley now owns 20,645,844 shares of the pharmacy operator’s stock valued at $1,224,919,000 after acquiring an additional 3,352,364 shares in the last quarter. Finally, DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main increased its holdings in CVS Health by 468.4% during the 4th quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 3,042,981 shares of the pharmacy operator’s stock valued at $224,325,000 after acquiring an additional 2,507,659 shares in the last quarter. Hedge funds and other institutional investors own 76.09% of the company’s stock.
In other CVS Health news, EVP Alan Lotvin purchased 5,000 shares of CVS Health stock in a transaction on Monday, May 11th. The shares were purchased at an average cost of $63.14 per share, with a total value of $315,700.00. Following the completion of the transaction, the executive vice president now directly owns 15,161 shares in the company, valued at approximately $957,265.54. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP James David Clark sold 3,030 shares of CVS Health stock in a transaction that occurred on Monday, March 30th. The shares were sold at an average price of $60.00, for a total transaction of $181,800.00. Following the transaction, the senior vice president now directly owns 12,790 shares in the company, valued at $767,400. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 9,534 shares of company stock worth $604,560. 0.46% of the stock is currently owned by corporate insiders.
CVS Health (NYSE:CVS) last released its earnings results on Wednesday, May 6th. The pharmacy operator reported $1.91 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.63 by $0.28. The firm had revenue of $66.76 billion during the quarter, compared to the consensus estimate of $64.11 billion. CVS Health had a net margin of 2.76% and a return on equity of 15.17%. CVS Health’s revenue was up 8.3% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.62 earnings per share. As a group, research analysts expect that CVS Health Corp will post 7.09 earnings per share for the current year.
Several equities analysts have weighed in on CVS shares. Robert W. Baird raised their target price on shares of CVS Health from $62.00 to $66.00 and gave the company a “neutral” rating in a report on Thursday, May 7th. JPMorgan Chase & Co. lowered their price target on shares of CVS Health from $97.00 to $94.00 and set an “overweight” rating for the company in a report on Monday, May 4th. Credit Suisse Group upgraded shares of CVS Health from a “neutral” rating to an “outperform” rating and set a $75.00 price target for the company in a report on Thursday, May 14th. They noted that the move was a valuation call. Oppenheimer reiterated a “hold” rating on shares of CVS Health in a report on Wednesday, May 6th. Finally, ValuEngine downgraded shares of CVS Health from a “sell” rating to a “strong sell” rating in a report on Thursday, April 30th. One research analyst has rated the stock with a sell rating, two have issued a hold rating, fourteen have issued a buy rating and two have given a strong buy rating to the company’s stock. CVS Health presently has an average rating of “Buy” and an average target price of $80.88.
CVS Health Company Profile
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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