CVS Health Corp (CVS) Shares Bought by Concentric Wealth Management LLC
Concentric Wealth Management LLC boosted its stake in CVS Health Corp (NYSE:CVS) by 3.2% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 27,786 shares of the pharmacy operator’s stock after purchasing an additional 868 shares during the period. CVS Health makes up approximately 1.5% of Concentric Wealth Management LLC’s holdings, making the stock its 28th largest position. Concentric Wealth Management LLC’s holdings in CVS Health were worth $2,187,000 at the end of the most recent reporting period.
Other large investors also recently bought and sold shares of the company. BlackRock Inc. boosted its stake in shares of CVS Health by 5.9% during the 2nd quarter. BlackRock Inc. now owns 74,135,102 shares of the pharmacy operator’s stock worth $4,770,597,000 after acquiring an additional 4,121,620 shares during the last quarter. Charles Schwab Investment Advisory Inc. purchased a new position in shares of CVS Health during the 2nd quarter worth $190,701,000. Boston Partners boosted its stake in shares of CVS Health by 41.9% during the 2nd quarter. Boston Partners now owns 9,908,888 shares of the pharmacy operator’s stock worth $637,637,000 after acquiring an additional 2,924,875 shares during the last quarter. Diamond Hill Capital Management Inc. purchased a new position in shares of CVS Health during the 3rd quarter worth $204,536,000. Finally, Morgan Stanley boosted its stake in shares of CVS Health by 28.4% during the 2nd quarter. Morgan Stanley now owns 8,358,263 shares of the pharmacy operator’s stock worth $537,854,000 after acquiring an additional 1,848,678 shares during the last quarter. 84.51% of the stock is owned by institutional investors and hedge funds.
CVS has been the topic of several analyst reports. Bank of America lifted their price target on shares of CVS Health from $86.00 to $90.00 and gave the stock a “buy” rating in a research note on Monday, September 17th. ValuEngine cut shares of CVS Health from a “sell” rating to a “strong sell” rating in a research note on Tuesday, September 4th. Tigress Financial reiterated a “buy” rating on shares of CVS Health in a research note on Friday, October 26th. Royal Bank of Canada lifted their target price on shares of CVS Health to $101.00 and gave the company an “outperform” rating in a research note on Tuesday, September 18th. Finally, Wolfe Research started coverage on shares of CVS Health in a research note on Thursday, October 25th. They set a “peer perform” rating on the stock. One investment analyst has rated the stock with a sell rating, four have issued a hold rating, fourteen have assigned a buy rating and two have given a strong buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average price target of $90.69.
CVS opened at $74.09 on Monday. The company has a debt-to-equity ratio of 1.66, a quick ratio of 1.94 and a current ratio of 2.44. CVS Health Corp has a fifty-two week low of $60.14 and a fifty-two week high of $83.88. The firm has a market cap of $75.48 billion, a P/E ratio of 12.56, a PEG ratio of 1.06 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 earnings per share for the quarter, beating 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 company had revenue of $47.27 billion for the quarter, compared to analysts’ expectations of $47.22 billion. During the same quarter in the previous year, the company earned $1.50 EPS. CVS Health’s revenue for the quarter was up 2.4% on a year-over-year basis. As a group, equities analysts expect that CVS Health Corp will post 7.03 earnings per share for the current year.
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CVS Health Profile
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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