Accipiter Capital Management LLC purchased a new position in shares of CVS Health Corp (NYSE:CVS) during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 100,000 shares of the pharmacy operator’s stock, valued at approximately $6,435,000. CVS Health comprises approximately 2.1% of Accipiter Capital Management LLC’s investment portfolio, making the stock its 3rd largest holding.
Several other hedge funds also recently modified their holdings of the company. BlackRock Inc. raised its stake in CVS Health by 5.9% during the second quarter. BlackRock Inc. now owns 74,135,102 shares of the pharmacy operator’s stock worth $4,770,597,000 after acquiring an additional 4,121,620 shares during the period. Charles Schwab Investment Advisory Inc. acquired a new stake in CVS Health during the second quarter worth about $190,701,000. Boston Partners raised its stake in CVS Health by 41.9% during the second quarter. Boston Partners now owns 9,908,888 shares of the pharmacy operator’s stock worth $637,637,000 after acquiring an additional 2,924,875 shares during the period. Schwab Charles Investment Management Inc. raised its stake in CVS Health by 63.1% during the first quarter. Schwab Charles Investment Management Inc. now owns 7,031,778 shares of the pharmacy operator’s stock worth $437,447,000 after acquiring an additional 2,720,334 shares during the period. Finally, Carmignac Gestion acquired a new stake in CVS Health during the first quarter worth about $165,735,000. 83.57% of the stock is currently owned by institutional investors and hedge funds.
In other CVS Health news, EVP Kevin Hourican sold 8,564 shares of the firm’s stock in a transaction that occurred on Monday, August 27th. The shares were sold at an average price of $75.00, for a total value of $642,300.00. Following the sale, the executive vice president now owns 12,135 shares in the company, valued at $910,125. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.53% of the stock is currently owned by company insiders.
Several equities research analysts recently weighed in on CVS shares. Mizuho set a $95.00 price objective on shares of CVS Health and gave the stock a “buy” rating in a research note on Wednesday, June 13th. Royal Bank of Canada dropped their price objective on shares of CVS Health to $84.00 and set an “outperform” rating on the stock in a research note on Friday, June 29th. Morgan Stanley dropped their price objective on shares of CVS Health from $88.00 to $80.00 and set an “overweight” rating on the stock in a research note on Tuesday, July 3rd. Citigroup reiterated a “buy” rating and set a $81.00 price objective on shares of CVS Health in a research note on Monday, July 9th. Finally, Leerink Swann set a $80.00 price objective on shares of CVS Health and gave the stock an “outperform” rating in a research note on Thursday, August 9th. Two investment analysts have rated the stock with a sell rating, four have given a hold rating, eleven have given a buy rating and two have issued a strong buy rating to the stock. The stock has an average rating of “Buy” and an average target price of $86.04.
Shares of NYSE:CVS opened at $77.08 on Friday. CVS Health Corp has a 52 week low of $60.14 and a 52 week high of $84.00. The company has a market capitalization of $77.10 billion, a price-to-earnings ratio of 13.06, a PEG ratio of 1.02 and a beta of 1.01. The company has a current ratio of 2.34, a quick ratio of 1.87 and a debt-to-equity ratio of 1.73.
CVS Health (NYSE:CVS) last announced its quarterly earnings results on Wednesday, August 8th. The pharmacy operator reported $1.69 EPS for the quarter, beating the consensus estimate of $1.61 by $0.08. CVS Health had a net margin of 1.61% and a return on equity of 18.25%. The company had revenue of $46.71 billion for the quarter, compared to analyst estimates of $46.34 billion. During the same quarter last year, the business earned $1.33 earnings per share. CVS Health’s revenue was up 2.2% compared to the same quarter last year. sell-side analysts predict that CVS Health Corp will post 7.05 EPS for the current year.
CVS Health 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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