CVS Health Corp (CVS) Shares Sold by Employees Retirement System of Texas
Employees Retirement System of Texas reduced its position in CVS Health Corp (NYSE:CVS) by 0.8% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 259,500 shares of the pharmacy operator’s stock after selling 2,000 shares during the quarter. Employees Retirement System of Texas’ holdings in CVS Health were worth $20,879,000 at the end of the most recent quarter.
A number of other institutional investors have also recently made changes to their positions in CVS. Gemmer Asset Management LLC grew its holdings in shares of CVS Health by 15.3% during the second quarter. Gemmer Asset Management LLC now owns 1,509 shares of the pharmacy operator’s stock valued at $121,000 after purchasing an additional 200 shares during the last quarter. TB Alternative Assets Ltd. bought a new position in shares of CVS Health during the second quarter valued at approximately $121,000. Captrust Financial Advisors bought a new position in shares of CVS Health during the second quarter valued at approximately $155,000. Grace & White Inc. NY bought a new position in shares of CVS Health during the second quarter valued at approximately $199,000. Finally, Nadler Financial Group Inc. bought a new position in shares of CVS Health during the second quarter valued at approximately $202,000. 82.24% of the stock is owned by hedge funds and other institutional investors.
In other CVS Health news, insider Larry J. Merlo sold 241,150 shares of the company’s stock in a transaction that occurred on Wednesday, September 13th. The stock was sold at an average price of $83.07, for a total value of $20,032,330.50. Following the completion of the sale, the insider now directly owns 299,255 shares in the company, valued at $24,859,112.85. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Thomas M. Moriarty sold 20,547 shares of the company’s stock in a transaction that occurred on Monday, October 2nd. The stock was sold at an average price of $81.17, for a total value 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 $3,504,758.26. The disclosure for this sale can be found here. Insiders sold 386,780 shares of company stock valued at $32,049,963 over the last 90 days. 0.61% of the stock is currently owned by insiders.
CVS has been the subject of several recent research reports. Wolfe Research lowered CVS Health from an “outperform” rating to a “market perform” rating and lowered their target price for the company from $89.00 to $82.00 in a report on Monday, August 14th. Robert W. Baird reaffirmed an “outperform” rating and set a $90.00 target price on shares of CVS Health in a report on Monday, August 14th. Citigroup lowered their target price on CVS Health from $88.00 to $87.00 and set a “neutral” rating for the company in a report on Thursday, August 17th. Loop Capital initiated coverage on CVS Health in a report on Thursday, August 24th. They issued a “hold” rating and a $83.00 price objective for the company. Finally, BidaskClub lowered CVS Health from a “hold” rating to a “sell” rating in a report on Friday, August 25th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and fifteen have given a buy rating to the company. CVS Health has a consensus rating of “Buy” and a consensus target price of $86.35.
Shares of CVS Health Corp (NYSE CVS) opened at $73.16 on Monday. The firm has a market capitalization of $74,039.58, a P/E ratio of 12.80, a price-to-earnings-growth ratio of 1.37 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 Corp has a 52-week low of $66.45 and a 52-week high of $84.72.
CVS Health (NYSE:CVS) last released its earnings results on Monday, November 6th. The pharmacy operator reported $1.50 earnings per share for the quarter, topping analysts’ consensus estimates of $1.49 by $0.01. The firm had revenue of $46.18 billion during the quarter, compared to the consensus estimate of $46.17 billion. CVS Health had a return on equity of 16.96% and a net margin of 2.77%. The firm’s revenue for the quarter was up 3.5% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.64 earnings per share. equities analysts predict that CVS Health Corp will post 5.9 EPS for the current fiscal year.
About CVS Health
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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