Webster Bank N. A. raised its position in CVS Health Co. (NYSE:CVS – Get Rating) by 3.0% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 79,278 shares of the pharmacy operator’s stock after buying an additional 2,346 shares during the quarter. CVS Health comprises about 0.9% of Webster Bank N. A.’s portfolio, making the stock its 28th largest position. Webster Bank N. A.’s holdings in CVS Health were worth $8,024,000 at the end of the most recent reporting period.
Other hedge funds have also recently added to or reduced their stakes in the company. West Bancorporation Inc. acquired a new stake in shares of CVS Health in the 4th quarter valued at approximately $25,000. Claremont Financial Group Inc. acquired a new stake in shares of CVS Health in the 4th quarter valued at approximately $26,000. Stuart Chaussee & Associates Inc. boosted its stake in shares of CVS Health by 123.0% in the 1st quarter. Stuart Chaussee & Associates Inc. now owns 310 shares of the pharmacy operator’s stock valued at $31,000 after purchasing an additional 171 shares in the last quarter. Capital Advisors Ltd. LLC boosted its stake in shares of CVS Health by 125.7% in the 4th quarter. Capital Advisors Ltd. LLC now owns 316 shares of the pharmacy operator’s stock valued at $33,000 after purchasing an additional 176 shares in the last quarter. Finally, Steph & Co. boosted its stake in shares of CVS Health by 138.7% in the 4th quarter. Steph & Co. now owns 358 shares of the pharmacy operator’s stock valued at $37,000 after purchasing an additional 208 shares in the last quarter. 78.00% of the stock is currently owned by hedge funds and other institutional investors.
CVS has been the topic of several recent research reports. Loop Capital initiated coverage on shares of CVS Health in a research report on Thursday, June 16th. They set a “buy” rating and a $120.00 target price on the stock. Deutsche Bank Aktiengesellschaft lifted their target price on shares of CVS Health from $110.00 to $113.00 in a research report on Thursday, May 5th. Sanford C. Bernstein downgraded shares of CVS Health from an “outperform” rating to a “market perform” rating and cut their target price for the stock from $122.00 to $112.00 in a research report on Thursday, May 26th. Tigress Financial boosted their price target on shares of CVS Health from $122.00 to $125.00 in a research report on Thursday, April 7th. Finally, StockNews.com initiated coverage on shares of CVS Health in a research report on Thursday, March 31st. They issued a “strong-buy” rating on the stock. Four equities research analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $116.05.
CVS Health (NYSE:CVS – Get Rating) last posted its quarterly earnings data on Wednesday, May 4th. The pharmacy operator reported $2.22 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.14 by $0.08. The business had revenue of $76.83 billion during the quarter, compared to the consensus estimate of $75.30 billion. CVS Health had a return on equity of 15.33% and a net margin of 2.67%. The firm’s quarterly revenue was up 11.2% compared to the same quarter last year. During the same quarter in the prior year, the company earned $2.04 earnings per share. Research analysts predict that CVS Health Co. will post 8.34 EPS for the current year.
In other news, EVP Daniel P. Finke sold 55,359 shares of CVS Health stock in a transaction dated Monday, April 4th. The stock was sold at an average price of $100.13, for a total transaction of $5,543,096.67. Following the transaction, the executive vice president now directly owns 3,098 shares of the company’s stock, valued at approximately $310,202.74. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Prem S. Shah sold 5,346 shares of the business’s stock in a transaction that occurred on Wednesday, March 30th. The stock was sold at an average price of $104.70, for a total value of $559,726.20. The disclosure for this sale can be found here. Insiders sold a total of 77,659 shares of company stock valued at $7,882,993 over the last quarter. 0.69% of the stock is owned by corporate insiders.
About CVS Health (Get Rating)
CVS Health Corporation provides health services in the United States. The company's Health Care Benefits segment offers traditional, voluntary, and consumer-directed health insurance products and related services. It serves employer groups, individuals, college students, part-time and hourly workers, health plans, health care providers, governmental units, government-sponsored plans, labor groups, and expatriates.
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