Clark Estates Inc. NY reduced its position in CVS Health Corp (NYSE:CVS) by 4.5% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 434,461 shares of the pharmacy operator’s stock after selling 20,500 shares during the quarter. CVS Health comprises approximately 5.1% of Clark Estates Inc. NY’s portfolio, making the stock its 4th biggest position. Clark Estates Inc. NY’s holdings in CVS Health were worth $34,201,000 at the end of the most recent quarter.
Several other hedge funds have also recently bought and sold shares of the company. BlackRock Inc. lifted its holdings in shares of CVS Health by 2.8% during the third quarter. BlackRock Inc. now owns 76,197,017 shares of the pharmacy operator’s stock worth $5,998,231,000 after purchasing an additional 2,061,915 shares during the period. FMR LLC lifted its holdings in shares of CVS Health by 4.3% during the third quarter. FMR LLC now owns 30,069,260 shares of the pharmacy operator’s stock worth $2,367,052,000 after purchasing an additional 1,250,473 shares during the period. Parnassus Investments CA lifted its holdings in shares of CVS Health by 2.2% during the second quarter. Parnassus Investments CA now owns 16,659,501 shares of the pharmacy operator’s stock worth $1,072,039,000 after purchasing an additional 350,872 shares during the period. Bank of New York Mellon Corp lifted its holdings in shares of CVS Health by 15.9% during the second quarter. Bank of New York Mellon Corp now owns 12,573,338 shares of the pharmacy operator’s stock worth $809,095,000 after purchasing an additional 1,721,683 shares during the period. Finally, Dimensional Fund Advisors LP lifted its holdings in shares of CVS Health by 0.6% during the second quarter. Dimensional Fund Advisors LP now owns 10,840,057 shares of the pharmacy operator’s stock worth $697,653,000 after purchasing an additional 64,223 shares during the period. 84.50% of the stock is owned by institutional investors and hedge funds.
In other news, CFO David M. Denton sold 25,159 shares of the firm’s stock in a transaction on Thursday, November 29th. The stock was sold at an average price of $80.13, for a total value of $2,015,990.67. Following the completion of the transaction, the chief financial officer now owns 403 shares in the company, valued at $32,292.39. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, EVP Eva C. Boratto sold 13,311 shares of the firm’s stock in a transaction on Monday, September 17th. The shares were sold at an average price of $77.16, for a total value of $1,027,076.76. Following the completion of the transaction, the executive vice president now owns 55,162 shares of the company’s stock, valued at approximately $4,256,299.92. The disclosure for this sale can be found here. In the last 90 days, insiders sold 74,233 shares of company stock valued at $5,932,565. Company insiders own 0.53% of the company’s stock.
Several equities research analysts recently weighed in on the company. Leerink Swann increased their price target on CVS Health from $85.00 to $95.00 and gave the stock a “positive” rating in a report on Thursday, November 8th. Morgan Stanley set a $100.00 price target on CVS Health and gave the stock a “buy” rating in a report on Wednesday, November 7th. Wolfe Research assumed coverage on CVS Health in a report on Thursday, October 25th. They set a “peer perform” rating for the company. Goldman Sachs Group reaffirmed a “neutral” rating and set a $87.00 price target on shares of CVS Health in a report on Thursday, November 29th. Finally, Royal Bank of Canada set a $99.00 price objective on CVS Health and gave the stock a “buy” rating in a research report on Tuesday, October 23rd. One analyst has rated the stock with a sell rating, four have assigned a hold rating, fourteen have given a buy rating and two have issued a strong buy rating to the company’s stock. CVS Health has a consensus rating of “Buy” and an average target price of $90.69.
NYSE:CVS opened at $74.09 on Friday. The firm has a market capitalization of $78.01 billion, a price-to-earnings ratio of 11.23, a price-to-earnings-growth ratio of 1.10 and a beta of 0.98. The company has a debt-to-equity ratio of 1.66, a current ratio of 2.44 and a quick ratio of 1.94. CVS Health Corp has a 1 year low of $60.14 and a 1 year high of $83.88.
CVS Health (NYSE:CVS) last released its quarterly earnings data on Tuesday, November 6th. The pharmacy operator reported $1.73 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.71 by $0.02. CVS Health had a return on equity of 18.69% and a net margin of 1.65%. The firm had revenue of $47.27 billion during the quarter, compared to analysts’ expectations of $47.22 billion. During the same quarter in the prior year, the business posted $1.50 earnings per share. CVS Health’s revenue was up 2.4% compared to the same quarter last year. As a group, sell-side analysts anticipate that CVS Health Corp will post 7.03 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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