grace capital Purchases Shares of 7,500 CVS Health Corp (CVS)
grace capital purchased a new stake in shares of CVS Health Corp (NYSE:CVS) during the second quarter, HoldingsChannel reports. The fund purchased 7,500 shares of the pharmacy operator’s stock, valued at approximately $483,000.
Other institutional investors and hedge funds have also recently modified their holdings of the company. Camarda Financial Advisors LLC bought a new position in CVS Health in the 2nd quarter valued at about $102,000. Quantbot Technologies LP bought a new position in CVS Health in the 1st quarter valued at about $103,000. Kiley Juergens Wealth Management LLC bought a new position in CVS Health in the 2nd quarter valued at about $103,000. Legacy Advisors LLC lifted its position in CVS Health by 7,100.0% in the 2nd quarter. Legacy Advisors LLC now owns 1,800 shares of the pharmacy operator’s stock valued at $116,000 after acquiring an additional 1,775 shares in the last quarter. Finally, Squar Milner Financial Services LLC bought a new position in CVS Health in the 2nd quarter valued at about $122,000. 83.57% of the stock is currently owned by institutional investors and hedge funds.
NYSE:CVS opened at $76.91 on Friday. The company has a quick ratio of 1.87, a current ratio of 2.34 and a debt-to-equity ratio of 1.73. The stock has a market capitalization of $78.72 billion, a price-to-earnings ratio of 11.73, a PEG ratio of 1.04 and a beta of 1.01. CVS Health Corp has a 52 week low of $60.14 and a 52 week high of $84.00.
In other CVS Health news, EVP Kevin Hourican sold 8,564 shares of the stock in a transaction dated Monday, August 27th. The shares were sold at an average price of $75.00, for a total value of $642,300.00. Following the completion of the sale, the executive vice president now owns 12,135 shares in the company, valued at approximately $910,125. The transaction was disclosed in a document filed with the SEC, which is available at this link. Company insiders own 0.53% of the company’s stock.
CVS has been the topic of several recent research reports. Mizuho set a $95.00 price target on shares of CVS Health and gave the company a “buy” rating in a research report on Wednesday, June 13th. Royal Bank of Canada dropped their price target on shares of CVS Health to $84.00 and set an “outperform” rating on the stock in a research report on Friday, June 29th. Morgan Stanley dropped their price target on shares of CVS Health from $88.00 to $80.00 and set an “overweight” rating on the stock in a research report on Tuesday, July 3rd. Citigroup reaffirmed a “buy” rating and issued a $81.00 price target on shares of CVS Health in a research report on Monday, July 9th. Finally, Leerink Swann set a $80.00 price target on shares of CVS Health and gave the company an “outperform” rating in a research report on Thursday, August 9th. Two research analysts have rated the stock with a sell rating, four have given a hold rating, eleven have given a buy rating and two have issued a strong buy rating to the company. CVS Health presently has an average rating of “Buy” and an average target price of $86.04.
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.
Further Reading: NASDAQ Stock Market Explained
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