Rikoon Group LLC Has $1.58 Million Holdings in CVS Health Corp (CVS)
Rikoon Group LLC raised its stake in CVS Health Corp (NYSE:CVS) by 53.2% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 19,590 shares of the pharmacy operator’s stock after purchasing an additional 6,799 shares during the quarter. Rikoon Group LLC’s holdings in CVS Health were worth $1,576,000 at the end of the most recent reporting period.
A number of other hedge funds also recently bought and sold shares of the business. Eagle Asset Management Inc. boosted its stake in CVS Health by 0.8% in the 1st quarter. Eagle Asset Management Inc. now owns 24,031 shares of the pharmacy operator’s stock valued at $1,886,000 after purchasing an additional 179 shares during the period. Kayne Anderson Rudnick Investment Management LLC boosted its stake in CVS Health by 53.3% in the 1st quarter. Kayne Anderson Rudnick Investment Management LLC now owns 60,073 shares of the pharmacy operator’s stock valued at $4,716,000 after purchasing an additional 20,874 shares during the period. Holderness Investments Co. boosted its stake in CVS Health by 61.6% in the 1st quarter. Holderness Investments Co. now owns 7,041 shares of the pharmacy operator’s stock valued at $553,000 after purchasing an additional 2,684 shares during the period. State of Wisconsin Investment Board boosted its stake in CVS Health by 10.3% in the 1st quarter. State of Wisconsin Investment Board now owns 1,432,714 shares of the pharmacy operator’s stock valued at $112,468,000 after purchasing an additional 133,507 shares during the period. Finally, United Bank boosted its stake in CVS Health by 12.7% in the 1st quarter. United Bank now owns 15,907 shares of the pharmacy operator’s stock valued at $1,249,000 after purchasing an additional 1,790 shares during the period. Hedge funds and other institutional investors own 82.24% of the company’s stock.
In other CVS Health news, COO Jonathan C. Roberts sold 85,743 shares of the company’s stock in a transaction dated Monday, September 18th. The stock was sold at an average price of $83.14, for a total value of $7,128,673.02. Following the sale, the chief operating officer now owns 119,555 shares in the company, valued at approximately $9,939,802.70. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Thomas M. Moriarty sold 20,547 shares of the company’s stock in a transaction dated Monday, October 2nd. The shares were 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 in the company, valued at approximately $3,504,758.26. The disclosure for this sale can be found here. In the last ninety days, insiders sold 145,630 shares of company stock valued at $12,017,632. Insiders own 0.61% of the company’s stock.
Several research firms recently issued reports on CVS. Royal Bank of Canada began coverage on CVS Health in a research note on Tuesday, September 19th. They issued an “outperform” rating and a $95.00 price target for the company. Jefferies Group boosted their price target on CVS Health from $82.00 to $86.00 and gave the company a “hold” rating in a research note on Friday, September 15th. Needham & Company LLC restated a “hold” rating on shares of CVS Health in a research note on Sunday, September 10th. Citigroup reduced their price target on CVS Health from $88.00 to $87.00 and set a “neutral” rating for the company in a research note on Thursday, August 17th. Finally, Oppenheimer reaffirmed a “buy” rating and issued a $95.00 price objective on shares of CVS Health in a report on Monday, October 9th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and fifteen have issued a buy rating to the company’s stock. CVS Health presently has an average rating of “Buy” and an average target price of $86.35.
CVS Health Corp (NYSE:CVS) opened at $71.20 on Thursday. CVS Health Corp has a fifty-two week low of $66.45 and a fifty-two week high of $84.72. The company has a debt-to-equity ratio of 0.67, a current ratio of 1.05 and a quick ratio of 0.55. The stock has a market capitalization of $73,842.05, a PE ratio of 12.77, a price-to-earnings-growth ratio of 1.37 and a beta of 0.89.
CVS Health (NYSE:CVS) last issued its earnings results on Monday, November 6th. The pharmacy operator reported $1.50 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.49 by $0.01. CVS Health had a return on equity of 16.96% and a net margin of 2.77%. The business had revenue of $46.18 billion during the quarter, compared to analysts’ expectations of $46.17 billion. During the same quarter in the prior year, the firm earned $1.64 EPS. The business’s revenue for the quarter was up 3.5% compared to the same quarter last year. equities analysts forecast that CVS Health Corp will post 5.9 earnings per share for the current year.
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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