Mirae Asset Global Investments Co. Ltd. lifted its position in CVS Health Corp (NYSE:CVS) by 122.8% during the 3rd quarter, HoldingsChannel.com reports. 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 at the end of the most recent quarter.
Other hedge funds have also recently bought and sold shares of the company. Canton Hathaway LLC purchased a new stake in shares of CVS Health in the 3rd quarter valued at $126,000. MCF Advisors LLC raised its holdings in shares of CVS Health by 284.1% in the 3rd quarter. MCF Advisors LLC now owns 1,713 shares of the pharmacy operator’s stock valued at $135,000 after buying an additional 1,267 shares during the period. Sageworth Trust Co raised its holdings in shares of CVS Health by 260.2% in the 3rd quarter. Sageworth Trust Co now owns 2,215 shares of the pharmacy operator’s stock valued at $174,000 after buying an additional 1,600 shares during the period. Kiley Juergens Wealth Management LLC raised its holdings in shares of CVS Health by 41.5% in the 3rd quarter. Kiley Juergens Wealth Management LLC now owns 2,270 shares of the pharmacy operator’s stock valued at $178,000 after buying an additional 666 shares during the period. Finally, Stelac Advisory Services LLC purchased a new stake in shares of CVS Health in the 3rd quarter valued at $182,000. Hedge funds and other institutional investors own 84.50% of the company’s stock.
In other news, CFO David M. Denton sold 25,159 shares of the stock in a transaction dated Thursday, November 29th. The stock was sold at an average price of $80.13, for a total value of $2,015,990.67. Following the transaction, the chief financial officer now owns 403 shares in the company, valued at approximately $32,292.39. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Lisa Bisaccia sold 21,534 shares of the stock in a transaction dated Monday, October 1st. The shares were sold at an average price of $80.00, for a total value of $1,722,720.00. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 74,233 shares of company stock worth $5,932,565. 0.53% of the stock is owned by company insiders.
Several equities research analysts recently issued reports on the company. Leerink Swann boosted their price objective on CVS Health from $85.00 to $95.00 and gave the company a “positive” rating in a report on Thursday, November 8th. Morgan Stanley set a $100.00 price objective on CVS Health and gave the company a “buy” rating in a report on Wednesday, November 7th. Wolfe Research assumed coverage on CVS Health in a report on Thursday, October 25th. They issued a “peer perform” rating on the stock. Goldman Sachs Group reiterated a “neutral” rating and issued a $87.00 price objective on shares of CVS Health in a report on Thursday, November 29th. Finally, Royal Bank of Canada set a $99.00 price target on CVS Health and gave the stock a “buy” rating in a report on Tuesday, October 23rd. One investment analyst has rated the stock with a sell rating, four have issued a hold rating, fourteen have given a buy rating and two have assigned a strong buy rating to the company’s stock. CVS Health has an average rating of “Buy” and an average target price of $90.69.
Shares of NYSE CVS opened at $74.09 on Friday. 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 1-year low of $60.14 and a 1-year high of $83.88. The stock 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.
CVS Health (NYSE:CVS) last issued its quarterly earnings results on Tuesday, November 6th. The pharmacy operator reported $1.73 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.71 by $0.02. CVS Health had a return on equity of 18.69% and a net margin of 1.65%. The company had revenue of $47.27 billion for the quarter, compared to the consensus estimate of $47.22 billion. During the same quarter in the prior year, the business earned $1.50 EPS. CVS Health’s revenue was up 2.4% on a year-over-year basis. On average, research analysts expect that CVS Health Corp will post 7.03 earnings per share for the current fiscal 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.
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