Level Four Advisory Services LLC cut its stake in shares of CVS Health Corp (NYSE:CVS) by 24.4% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 14,534 shares of the pharmacy operator’s stock after selling 4,688 shares during the period. Level Four Advisory Services LLC’s holdings in CVS Health were worth $1,120,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds also recently made changes to their positions in the business. Fieldpoint Private Securities LLC grew its holdings in shares of CVS Health by 333.3% in the second quarter. Fieldpoint Private Securities LLC now owns 1,300 shares of the pharmacy operator’s stock valued at $105,000 after purchasing an additional 1,000 shares in the last quarter. MPS Loria Financial Planners LLC acquired a new position in shares of CVS Health in the second quarter valued at approximately $119,000. Gemmer Asset Management LLC grew its holdings in CVS Health by 15.3% during the 2nd quarter. Gemmer Asset Management LLC now owns 1,509 shares of the pharmacy operator’s stock worth $121,000 after acquiring an additional 200 shares in the last quarter. Captrust Financial Advisors acquired a new position in CVS Health during the 2nd quarter worth approximately $155,000. Finally, Grace & White Inc. NY acquired a new position in CVS Health during the 2nd quarter worth approximately $199,000. Institutional investors and hedge funds own 82.24% of the company’s stock.
In related news, COO Jonathan C. Roberts sold 85,743 shares of the company’s stock in a transaction on Monday, September 18th. The shares were sold at an average price of $83.14, for a total value of $7,128,673.02. Following the completion of the sale, the chief operating officer now owns 119,555 shares in the company, valued at approximately $9,939,802.70. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, EVP Thomas M. Moriarty sold 20,547 shares of the company’s stock in a transaction 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 completion of the sale, the executive vice president now owns 43,178 shares of the company’s stock, valued at approximately $3,504,758.26. The disclosure for this sale can be found here. 0.61% of the stock is owned by corporate insiders.
Several research analysts have commented on the stock. Loop Capital lowered their price target on shares of CVS Health from $83.00 to $73.00 and set a “hold” rating for the company in a report on Tuesday, November 7th. Needham & Company LLC boosted their price target on shares of CVS Health from $79.00 to $85.00 and gave the stock a “buy” rating in a report on Monday, December 4th. Jefferies Group lowered their price target on shares of CVS Health from $86.00 to $76.00 and set a “hold” rating for the company in a report on Tuesday, November 7th. Deutsche Bank assumed coverage on shares of CVS Health in a report on Monday, December 4th. They set a “buy” rating and a $90.00 price target for the company. Finally, Raymond James Financial reiterated a “buy” rating on shares of CVS Health in a report on Monday, December 4th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and fifteen have assigned a buy rating to the company’s stock. CVS Health presently has an average rating of “Buy” and a consensus price target of $86.35.
Shares of CVS Health Corp (NYSE CVS) opened at $73.08 on Friday. CVS Health Corp has a 12-month low of $66.45 and a 12-month high of $84.72. The company has a market cap of $71,719.84, a price-to-earnings ratio of 12.40, a P/E/G ratio of 1.33 and a beta of 0.89. The company has a debt-to-equity ratio of 0.67, a current ratio of 1.05 and a quick ratio of 0.55.
CVS Health (NYSE:CVS) last released its quarterly earnings results on Monday, November 6th. The pharmacy operator reported $1.50 EPS for the quarter, beating the consensus estimate of $1.49 by $0.01. CVS Health had a net margin of 2.77% and a return on equity of 16.96%. The firm had revenue of $46.18 billion during the quarter, compared to the consensus estimate of $46.17 billion. During the same quarter in the prior year, the firm earned $1.64 EPS. CVS Health’s revenue for the quarter was up 3.5% on a year-over-year basis. equities analysts forecast that CVS Health Corp will post 5.9 earnings per share for the current year.
CVS Health Company 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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