Phocas Financial Corp. trimmed its position in CVS Health Corp (NYSE:CVS) by 32.6% during the second quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 8,310 shares of the pharmacy operator’s stock after selling 4,026 shares during the quarter. Phocas Financial Corp.’s holdings in CVS Health were worth $669,000 as of its most recent SEC filing.
Other hedge funds have also recently modified their holdings of the company. Fieldpoint Private Securities LLC grew its stake in CVS Health by 333.3% in the 2nd quarter. Fieldpoint Private Securities LLC now owns 1,300 shares of the pharmacy operator’s stock valued at $105,000 after buying an additional 1,000 shares during the last quarter. Gemmer Asset Management LLC grew its stake in CVS Health by 15.3% in the 2nd quarter. Gemmer Asset Management LLC now owns 1,509 shares of the pharmacy operator’s stock valued at $121,000 after buying an additional 200 shares during the last quarter. Captrust Financial Advisors acquired a new position in CVS Health in the 2nd quarter valued at about $155,000. Grace & White Inc. NY acquired a new position in CVS Health in the 2nd quarter valued at about $199,000. Finally, Nadler Financial Group Inc. acquired a new position in CVS Health in the 2nd quarter valued at about $202,000. 82.24% of the stock is currently owned by institutional investors.
CVS Health Corp (CVS) opened at $70.80 on Friday. CVS Health Corp has a 52-week low of $66.45 and a 52-week high of $84.72. The stock has a market cap of $72,550.49, a P/E ratio of 12.54, a price-to-earnings-growth ratio of 1.34 and a beta of 0.89. The company has a current ratio of 1.05, a quick ratio of 0.55 and a debt-to-equity ratio of 0.67.
CVS Health (NYSE:CVS) last posted its quarterly earnings results on Monday, November 6th. The pharmacy operator reported $1.50 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.49 by $0.01. The business had revenue of $46.18 billion for the quarter, compared to analyst estimates of $46.17 billion. CVS Health had a net margin of 2.77% and a return on equity of 16.96%. The firm’s revenue for the quarter was up 3.5% on a year-over-year basis. During the same quarter last year, the business posted $1.64 EPS. sell-side analysts expect that CVS Health Corp will post 5.9 earnings per share for the current year.
A number of research analysts recently commented on CVS shares. Citigroup decreased their price target on shares of CVS Health from $88.00 to $87.00 and set a “neutral” rating on the stock in a research note on Thursday, August 17th. Loop Capital started coverage on shares of CVS Health in a research note on Thursday, August 24th. They issued a “hold” rating and a $83.00 price target on the stock. BidaskClub lowered shares of CVS Health from a “hold” rating to a “sell” rating in a research note on Friday, August 25th. Needham & Company LLC reiterated a “hold” rating on shares of CVS Health in a research note on Sunday, September 10th. Finally, Jefferies Group upped their price target on shares of CVS Health from $82.00 to $86.00 and gave the company a “hold” rating in a research note on Friday, September 15th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and fifteen have given a buy rating to the stock. The company has a consensus rating of “Buy” and a consensus target price of $86.35.
In related news, EVP Thomas M. Moriarty sold 20,547 shares of the stock in a transaction that occurred on Monday, October 2nd. The shares were sold at an average price of $81.17, for a total transaction of $1,667,799.99. Following the sale, the executive vice president now owns 43,178 shares in the company, valued at approximately $3,504,758.26. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, COO Jonathan C. Roberts sold 85,743 shares of the stock in a transaction that occurred on Monday, September 18th. The stock was sold at an average price of $83.14, for a total transaction of $7,128,673.02. Following the sale, the chief operating officer now owns 119,555 shares in the company, valued at approximately $9,939,802.70. The disclosure for this sale can be found here. Company insiders own 0.61% of the company’s stock.
CVS Health Profile
CVS Health Corporation, together with its subsidiaries, is an integrated pharmacy healthcare company. The Company provides pharmacy care for the senior community through Omnicare, Inc (Omnicare) and Omnicare’s long-term care (LTC) operations, which include distribution of pharmaceuticals, related pharmacy consulting and other ancillary services to chronic care facilities and other care settings.
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