QS Investors LLC Boosts Position in CVS Health Corp (CVS)
QS Investors LLC boosted its stake in CVS Health Corp (NYSE:CVS) by 7.7% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 275,261 shares of the pharmacy operator’s stock after acquiring an additional 19,628 shares during the quarter. QS Investors LLC’s holdings in CVS Health were worth $22,148,000 as of its most recent SEC filing.
Other institutional investors and hedge funds also recently bought and sold shares of the company. Vanguard Group Inc. lifted its position in CVS Health by 1.4% during the 2nd quarter. Vanguard Group Inc. now owns 76,557,597 shares of the pharmacy operator’s stock worth $6,159,825,000 after buying an additional 1,056,265 shares in the last quarter. FMR LLC lifted its position in CVS Health by 22.0% during the 2nd quarter. FMR LLC now owns 30,150,634 shares of the pharmacy operator’s stock worth $2,425,920,000 after buying an additional 5,446,930 shares in the last quarter. Northern Trust Corp lifted its position in CVS Health by 5.5% during the 2nd quarter. Northern Trust Corp now owns 15,618,081 shares of the pharmacy operator’s stock worth $1,256,631,000 after buying an additional 807,639 shares in the last quarter. Nordea Investment Management AB lifted its position in CVS Health by 8.4% during the 2nd quarter. Nordea Investment Management AB now owns 14,154,922 shares of the pharmacy operator’s stock worth $1,138,905,000 after buying an additional 1,100,373 shares in the last quarter. Finally, Dimensional Fund Advisors LP lifted its position in CVS Health by 5.4% during the 2nd quarter. Dimensional Fund Advisors LP now owns 10,426,282 shares of the pharmacy operator’s stock worth $838,895,000 after buying an additional 534,314 shares in the last quarter. 82.24% of the stock is currently owned by institutional investors and hedge funds.
In related news, COO Jonathan C. Roberts sold 85,743 shares of the company’s stock in a transaction dated 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 transaction, the chief operating officer now owns 119,555 shares in the company, valued at approximately $9,939,802.70. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CFO David M. Denton sold 237,078 shares of the company’s stock in a transaction dated Monday, September 11th. The shares were sold at an average price of $79.65, for a total transaction of $18,883,262.70. Following the completion of the transaction, the chief financial officer now owns 141,096 shares in the company, valued at approximately $11,238,296.40. The disclosure for this sale can be found here. In the last quarter, insiders sold 714,125 shares of company stock worth $58,119,381. 0.61% of the stock is owned by company insiders.
Several equities research analysts have commented on CVS shares. Wolfe Research cut shares of CVS Health from an “outperform” rating to a “market perform” rating and cut their price target for the stock from $89.00 to $82.00 in a research report on Monday, August 14th. Robert W. Baird reissued an “outperform” rating and set a $90.00 price target on shares of CVS Health in a research report on Monday, August 14th. Citigroup cut their price target on shares of CVS Health from $88.00 to $87.00 and set a “neutral” rating on the stock in a research report on Thursday, August 17th. Loop Capital started coverage on shares of CVS Health in a research report on Thursday, August 24th. They set a “hold” rating and a $83.00 price target on the stock. Finally, BidaskClub cut shares of CVS Health from a “hold” rating to a “sell” rating in a research report on Friday, August 25th. One research analyst has rated the stock with a sell rating, eight have given a hold rating and fifteen have given a buy rating to the stock. CVS Health presently has a consensus rating of “Buy” and an average target price of $86.35.
CVS Health Corp (NYSE CVS) opened at $73.09 on Friday. The firm has a market cap of $74,039.58, a PE ratio of 12.80, a PEG ratio of 1.37 and a beta of 0.89. CVS Health Corp has a 52 week low of $66.45 and a 52 week high of $84.72. The company has a debt-to-equity ratio of 0.67, a quick ratio of 0.55 and a current ratio of 1.05.
CVS Health (NYSE:CVS) last released its quarterly earnings data on Monday, November 6th. The pharmacy operator reported $1.50 earnings per share for the quarter, topping 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 company had revenue of $46.18 billion for the quarter, compared to analyst estimates of $46.17 billion. During the same period in the previous year, the business earned $1.64 EPS. CVS Health’s revenue for the quarter was up 3.5% compared to the same quarter last year. research analysts predict that CVS Health Corp will post 5.9 earnings per share for the current fiscal year.
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CVS Health 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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