Mirae Asset Global Investments Co. Ltd. grew its holdings in CVS Health Corp (NYSE:CVS) by 122.8% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 137,435 shares of the pharmacy operator’s stock after buying an additional 75,742 shares during the quarter. Mirae Asset Global Investments Co. Ltd.’s holdings in CVS Health were worth $10,819,000 as of its most recent SEC filing.
Other institutional investors have also bought and sold shares of the company. Adviser Investments LLC boosted its stake in shares of CVS Health by 43.3% in the second quarter. Adviser Investments LLC now owns 2,993 shares of the pharmacy operator’s stock worth $193,000 after acquiring an additional 905 shares during the last quarter. Guild Investment Management Inc. acquired a new stake in shares of CVS Health in the third quarter worth approximately $3,764,000. Keystone Financial Planning Inc. boosted its stake in shares of CVS Health by 44.5% in the second quarter. Keystone Financial Planning Inc. now owns 59,038 shares of the pharmacy operator’s stock worth $3,799,000 after acquiring an additional 18,176 shares during the last quarter. Schwab Charles Investment Management Inc. boosted its stake in shares of CVS Health by 4.3% in the second quarter. Schwab Charles Investment Management Inc. now owns 7,332,665 shares of the pharmacy operator’s stock worth $471,857,000 after acquiring an additional 300,887 shares during the last quarter. Finally, Waddell & Reed Financial Inc. boosted its stake in shares of CVS Health by 21.5% in the second quarter. Waddell & Reed Financial Inc. now owns 993,394 shares of the pharmacy operator’s stock worth $63,925,000 after acquiring an additional 175,725 shares during the last quarter. Institutional investors and hedge funds own 84.50% of the company’s stock.
In other CVS Health news, EVP Lisa Bisaccia sold 21,534 shares of the business’s stock in a transaction on Monday, October 1st. The stock was sold at an average price of $80.00, for a total transaction of $1,722,720.00. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Troyen A. Brennan sold 14,229 shares of the business’s stock in a transaction on Wednesday, November 14th. The stock was sold at an average price of $82.00, for a total value of $1,166,778.00. The disclosure for this sale can be found here. Insiders have sold 74,233 shares of company stock worth $5,932,565 in the last three months. 0.53% of the stock is currently owned by corporate insiders.
A number of analysts have recently issued reports on the company. Goldman Sachs Group reaffirmed a “neutral” rating and issued a $87.00 price target on shares of CVS Health in a research note on Thursday, November 29th. ValuEngine raised CVS Health from a “sell” rating to a “hold” rating in a research note on Thursday, October 11th. Argus lifted their price target on CVS Health to $100.00 and gave the stock a “buy” rating in a research note on Tuesday, November 13th. Loop Capital set a $80.00 price target on CVS Health and gave the stock a “hold” rating in a research note on Wednesday, November 28th. Finally, Evercore ISI assumed coverage on CVS Health in a research note on Wednesday, November 28th. They issued an “outperform” rating and a $89.00 price target on the stock. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating, fourteen have issued a buy rating and two have issued a strong buy rating to the stock. CVS Health presently 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 cap of $78.01 billion, a price-to-earnings ratio of 11.23, a P/E/G ratio of 1.10 and a beta of 0.98. The company has a current ratio of 2.44, a quick ratio of 1.94 and a debt-to-equity ratio of 1.66. CVS Health Corp has a fifty-two week low of $60.14 and a fifty-two week 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 for the quarter, topping the Zacks’ consensus estimate of $1.71 by $0.02. The company had revenue of $47.27 billion for the quarter, compared to analyst estimates of $47.22 billion. CVS Health had a return on equity of 18.69% and a net margin of 1.65%. The firm’s revenue for the quarter was up 2.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.50 earnings per share. Equities analysts anticipate that CVS Health Corp will post 7.03 EPS for the current year.
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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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