Raymond James Trust N.A. lifted its stake in CVS Health Corp (NYSE:CVS) by 2.2% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 131,425 shares of the pharmacy operator’s stock after purchasing an additional 2,821 shares during the period. Raymond James Trust N.A.’s holdings in CVS Health were worth $10,346,000 at the end of the most recent quarter.
Other institutional investors also recently modified their holdings of the company. Adviser Investments LLC increased its holdings 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 valued at $193,000 after purchasing an additional 905 shares in the last quarter. Guild Investment Management Inc. acquired a new stake in shares of CVS Health in the third quarter valued at approximately $3,764,000. Keystone Financial Planning Inc. increased its holdings 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 valued at $3,799,000 after purchasing an additional 18,176 shares in the last quarter. Schwab Charles Investment Management Inc. increased its holdings 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 valued at $471,857,000 after purchasing an additional 300,887 shares in the last quarter. Finally, Waddell & Reed Financial Inc. increased its holdings 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 valued at $63,925,000 after purchasing an additional 175,725 shares in the last quarter. 84.50% of the stock is owned by institutional investors and hedge funds.
In other news, EVP Troyen A. Brennan sold 14,229 shares of the business’s stock in a transaction on Wednesday, November 14th. The shares were sold at an average price of $82.00, for a total value of $1,166,778.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO David M. Denton sold 25,159 shares of the business’s stock in a transaction on Thursday, November 29th. The shares were sold at an average price of $80.13, for a total transaction of $2,015,990.67. Following the completion of the transaction, the chief financial officer now directly owns 403 shares of the company’s stock, valued at approximately $32,292.39. The disclosure for this sale can be found here. Insiders have sold a total of 74,233 shares of company stock valued at $5,932,565 in the last ninety days. Company insiders own 0.53% of the company’s stock.
A number of analysts recently weighed in on the stock. Cantor Fitzgerald assumed coverage on shares of CVS Health in a report on Monday, November 26th. They issued an “overweight” rating and a $96.00 price target for the company. ValuEngine raised shares of CVS Health from a “sell” rating to a “hold” rating in a report on Tuesday, November 6th. Loop Capital set a $80.00 price target on shares of CVS Health and gave the company a “hold” rating in a report on Wednesday, November 28th. Goldman Sachs Group reissued a “neutral” rating and issued a $87.00 price target on shares of CVS Health in a report on Thursday, November 29th. Finally, Evercore ISI assumed coverage on shares of CVS Health in a report on Wednesday, November 28th. They issued an “outperform” rating and a $89.00 price target for the company. One investment analyst has rated the stock with a sell rating, four have given a hold rating, fourteen have assigned a buy rating and two have given a strong buy rating to the company’s stock. CVS Health currently has an average rating of “Buy” and an average price target of $90.69.
CVS opened at $74.09 on Friday. 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 52 week low of $60.14 and a 52 week high of $83.88. The firm has a market cap 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.
CVS Health (NYSE:CVS) last released its earnings results on Tuesday, November 6th. The pharmacy operator reported $1.73 EPS for the quarter, topping analysts’ consensus estimates of $1.71 by $0.02. CVS Health had a net margin of 1.65% and a return on equity of 18.69%. The firm had revenue of $47.27 billion during the quarter, compared to analyst estimates of $47.22 billion. During the same quarter in the previous year, the business earned $1.50 EPS. The business’s quarterly revenue was up 2.4% compared to the same quarter last year. Equities analysts expect that CVS Health Corp will post 7.03 EPS for the current year.
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About CVS Health
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.
Further Reading: Price to Earnings Ratio (PE), For Valuing Stocks
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