Wetherby Asset Management Inc. raised its position in CVS Health Corporation (NYSE:CVS) by 16.5% during the first quarter, Holdings Channel reports. The firm owned 24,741 shares of the pharmacy operator’s stock after buying an additional 3,495 shares during the period. Wetherby Asset Management Inc.’s holdings in CVS Health Corporation were worth $1,943,000 at the end of the most recent quarter.
Several other institutional investors have also modified their holdings of CVS. NWQ Investment Management Company LLC increased its position in shares of CVS Health Corporation by 44.8% in the fourth quarter. NWQ Investment Management Company LLC now owns 1,352,559 shares of the pharmacy operator’s stock worth $106,730,000 after buying an additional 418,601 shares during the period. Naples Global Advisors LLC acquired a new position in shares of CVS Health Corporation during the first quarter worth about $452,000. Regent Investment Management LLC increased its position in shares of CVS Health Corporation by 0.6% in the first quarter. Regent Investment Management LLC now owns 66,818 shares of the pharmacy operator’s stock worth $5,245,000 after buying an additional 429 shares during the period. Thompson Rubinstein Investment Management Inc. OR increased its position in shares of CVS Health Corporation by 8.7% in the first quarter. Thompson Rubinstein Investment Management Inc. OR now owns 39,646 shares of the pharmacy operator’s stock worth $3,112,000 after buying an additional 3,159 shares during the period. Finally, Koshinski Asset Management Inc. increased its position in shares of CVS Health Corporation by 83.3% in the first quarter. Koshinski Asset Management Inc. now owns 21,694 shares of the pharmacy operator’s stock worth $1,703,000 after buying an additional 9,858 shares during the period. 82.01% of the stock is owned by institutional investors and hedge funds.
CVS Health Corporation (NYSE CVS) opened at 77.06 on Friday. The company has a 50 day moving average price of $78.96 and a 200 day moving average price of $79.32. The stock has a market capitalization of $78.51 billion, a price-to-earnings ratio of 16.07 and a beta of 0.92. CVS Health Corporation has a 12 month low of $69.30 and a 12 month high of $98.66. CVS Health Corporation also was the target of some unusual options trading activity on Friday. Traders bought 1,498 put options on the stock. This represents an increase of 470% compared to the typical daily volume of 263 put options.
CVS Health Corporation (NYSE:CVS) last posted its quarterly earnings results on Tuesday, May 2nd. The pharmacy operator reported $1.17 EPS for the quarter, beating the consensus estimate of $1.10 by $0.07. CVS Health Corporation had a net margin of 2.86% and a return on equity of 17.56%. The business had revenue of $44.51 billion for the quarter, compared to analysts’ expectations of $44.20 billion. During the same period in the previous year, the company posted $1.18 EPS. CVS Health Corporation’s revenue was up 3.0% on a year-over-year basis. Equities research analysts predict that CVS Health Corporation will post $5.87 earnings per share for the current year.
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A number of equities research analysts recently weighed in on the company. Bank of America Corporation restated a “buy” rating and issued a $106.67 price target on shares of CVS Health Corporation in a report on Tuesday, February 28th. Evercore ISI restated an “outperform” rating and issued a $88.00 price target (up previously from $87.00) on shares of CVS Health Corporation in a report on Wednesday, May 3rd. Vetr upgraded CVS Health Corporation from a “buy” rating to a “strong-buy” rating and set a $85.96 price target on the stock in a report on Wednesday, May 17th. ValuEngine cut CVS Health Corporation from a “buy” rating to a “hold” rating in a report on Friday, June 2nd. Finally, Tigress Financial assumed coverage on CVS Health Corporation in a report on Thursday, April 27th. They issued a “buy” rating on the stock. Eight analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $93.98.
In other news, EVP Troyen A. Brennan sold 23,849 shares of the business’s stock in a transaction on Tuesday, March 21st. The shares were sold at an average price of $78.73, for a total transaction of $1,877,631.77. Following the transaction, the executive vice president now directly owns 94,309 shares in the company, valued at approximately $7,424,947.57. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CFO David M. Denton sold 230,510 shares of the business’s stock in a transaction on Monday, June 12th. The shares were sold at an average price of $80.00, for a total transaction of $18,440,800.00. Following the transaction, the chief financial officer now owns 176,983 shares in the company, valued at $14,158,640. The disclosure for this sale can be found here. Insiders own 0.61% of the company’s stock.
CVS Health Corporation Company 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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