Northwestern Mutual Wealth Management Co. reduced its holdings in CVS Health Corp (NYSE:CVS) by 0.9% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 191,723 shares of the pharmacy operator’s stock after selling 1,812 shares during the period. Northwestern Mutual Wealth Management Co.’s holdings in CVS Health were worth $13,900,000 at the end of the most recent reporting period.
A number of other institutional investors have also made changes to their positions in CVS. Beach Investment Management LLC. purchased a new stake in CVS Health in the 2nd quarter worth about $2,224,000. Sequoia Financial Advisors LLC lifted its stake in CVS Health by 0.8% in the 2nd quarter. Sequoia Financial Advisors LLC now owns 6,406 shares of the pharmacy operator’s stock worth $515,000 after acquiring an additional 53 shares in the last quarter. Nuance Investments LLC purchased a new stake in CVS Health in the 2nd quarter worth about $2,973,000. Burney Co. lifted its stake in CVS Health by 11.7% in the 2nd quarter. Burney Co. now owns 104,518 shares of the pharmacy operator’s stock worth $8,390,000 after acquiring an additional 10,933 shares in the last quarter. Finally, Cannell Peter B & Co. Inc. lifted its stake in CVS Health by 5.9% in the 2nd quarter. Cannell Peter B & Co. Inc. now owns 3,890 shares of the pharmacy operator’s stock worth $313,000 after acquiring an additional 215 shares in the last quarter. 84.12% of the stock is owned by hedge funds and other institutional investors.
Several brokerages recently issued reports on CVS. Needham & Company LLC raised CVS Health from a “buy” rating to a “strong-buy” rating and increased their price objective for the stock from $88.00 to $100.00 in a research note on Tuesday, January 30th. Mizuho set a $95.00 price objective on CVS Health and gave the stock a “buy” rating in a research note on Wednesday, January 24th. Cowen reaffirmed an “outperform” rating and issued a $99.00 target price (up from $81.00) on shares of CVS Health in a research report on Thursday, January 18th. Vetr lowered CVS Health from a “hold” rating to a “sell” rating and set a $76.66 target price on the stock. in a research report on Tuesday, January 16th. Finally, ValuEngine lowered CVS Health from a “buy” rating to a “hold” rating in a research report on Friday, February 2nd. Two analysts have rated the stock with a sell rating, seven have issued a hold rating, twelve have given a buy rating and two have given a strong buy rating to the company’s stock. CVS Health has an average rating of “Buy” and a consensus price target of $87.03.
CVS Health (NYSE:CVS) last issued its quarterly earnings data on Thursday, February 8th. The pharmacy operator reported $1.92 EPS for the quarter, beating the Zacks’ consensus estimate of $1.88 by $0.04. The business had revenue of $48.39 billion for the quarter, compared to analyst estimates of $47.54 billion. CVS Health had a return on equity of 17.21% and a net margin of 3.58%. The firm’s revenue for the quarter was up 5.3% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.71 EPS. analysts expect that CVS Health Corp will post 6.37 earnings per share for the current year.
In other news, EVP Lisa Bisaccia sold 29,445 shares of the stock in a transaction dated Thursday, December 21st. The stock was sold at an average price of $75.00, for a total transaction of $2,208,375.00. Following the transaction, the executive vice president now owns 15,556 shares of the company’s stock, valued at approximately $1,166,700. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP Helena Foulkes sold 19,965 shares of the stock in a transaction dated Friday, February 16th. The shares were sold at an average price of $71.04, for a total value of $1,418,313.60. Following the transaction, the executive vice president now directly owns 65,072 shares in the company, valued at approximately $4,622,714.88. The disclosure for this sale can be found here. Corporate insiders own 0.61% of the company’s stock.
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CVS Health 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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