Demars Financial Group LLC raised its stake in CVS Health Corp (NYSE:CVS) by 9.9% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 5,131 shares of the pharmacy operator’s stock after acquiring an additional 461 shares during the quarter. Demars Financial Group LLC’s holdings in CVS Health were worth $333,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. BlackRock Inc. grew its position in shares of CVS Health by 1.3% in the second quarter. BlackRock Inc. now owns 97,156,370 shares of the pharmacy operator’s stock valued at $6,312,247,000 after purchasing an additional 1,281,119 shares during the period. State Street Corp grew its position in shares of CVS Health by 0.5% in the first quarter. State Street Corp now owns 56,039,417 shares of the pharmacy operator’s stock valued at $3,324,819,000 after purchasing an additional 251,722 shares during the period. Morgan Stanley grew its position in shares of CVS Health by 19.4% in the first quarter. Morgan Stanley now owns 20,645,844 shares of the pharmacy operator’s stock valued at $1,224,919,000 after purchasing an additional 3,352,364 shares during the period. Geode Capital Management LLC grew its position in CVS Health by 3.1% during the first quarter. Geode Capital Management LLC now owns 19,245,378 shares of the pharmacy operator’s stock valued at $1,139,748,000 after acquiring an additional 577,235 shares during the period. Finally, Nordea Investment Management AB grew its position in CVS Health by 91.3% during the second quarter. Nordea Investment Management AB now owns 18,518,644 shares of the pharmacy operator’s stock valued at $1,189,082,000 after acquiring an additional 8,837,591 shares during the period. 75.88% of the stock is owned by institutional investors.
A number of research firms have issued reports on CVS. Credit Suisse Group boosted their price target on CVS Health from $75.00 to $90.00 and gave the company an “outperform” rating in a research report on Friday, August 7th. SVB Leerink upped their target price on CVS Health from $72.00 to $73.00 and gave the stock a “market perform” rating in a research report on Thursday, August 6th. Deutsche Bank decreased their target price on CVS Health from $109.00 to $104.00 and set a “buy” rating for the company in a research report on Thursday, August 6th. Finally, Royal Bank of Canada reaffirmed a “buy” rating on shares of CVS Health in a research report on Thursday, July 9th. One analyst has rated the stock with a sell rating, three have given a hold rating, twelve have given a buy rating and two have issued a strong buy rating to the company. CVS Health currently has a consensus rating of “Buy” and an average target price of $82.60.
CVS Health (NYSE:CVS) last issued its quarterly earnings data on Wednesday, August 5th. The pharmacy operator reported $2.64 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.93 by $0.71. CVS Health had a return on equity of 16.32% and a net margin of 3.13%. The business had revenue of $65.30 billion during the quarter, compared to analyst estimates of $64.29 billion. During the same period in the prior year, the company posted $1.89 EPS. The business’s revenue for the quarter was up 2.9% compared to the same quarter last year. As a group, sell-side analysts forecast that CVS Health Corp will post 7.23 earnings per share for the current year.
CVS Health 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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