Tiaa Fsb Invests $11.63 Million in CVS Health Corp (CVS)
Tiaa Fsb acquired a new stake in shares of CVS Health Corp (NYSE:CVS) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 144,491 shares of the pharmacy operator’s stock, valued at approximately $11,625,000.
Several other hedge funds and other institutional investors also recently modified their holdings of the company. FMR LLC grew its holdings in CVS Health by 22.0% in the 2nd quarter. FMR LLC now owns 30,150,634 shares of the pharmacy operator’s stock valued at $2,425,920,000 after buying an additional 5,446,930 shares during the last quarter. Boston Partners grew its holdings in CVS Health by 69.1% in the 2nd quarter. Boston Partners now owns 6,459,237 shares of the pharmacy operator’s stock valued at $519,711,000 after buying an additional 2,638,888 shares during the last quarter. Prudential Financial Inc. grew its holdings in CVS Health by 61.8% in the 2nd quarter. Prudential Financial Inc. now owns 2,946,531 shares of the pharmacy operator’s stock valued at $237,078,000 after buying an additional 1,125,400 shares during the last quarter. Vanguard Group Inc. grew its holdings in CVS Health by 1.4% in the 2nd quarter. Vanguard Group Inc. now owns 76,557,597 shares of the pharmacy operator’s stock valued at $6,159,825,000 after buying an additional 1,056,265 shares during the last quarter. Finally, Canada Pension Plan Investment Board grew its holdings in CVS Health by 89.8% in the 2nd quarter. Canada Pension Plan Investment Board now owns 1,851,099 shares of the pharmacy operator’s stock valued at $148,939,000 after buying an additional 876,027 shares during the last quarter. 82.24% of the stock is currently owned by institutional investors and hedge funds.
Shares of CVS Health Corp (NYSE:CVS) opened at $75.12 on Monday. CVS Health Corp has a fifty-two week low of $66.45 and a fifty-two week high of $84.72. The firm has a market capitalization of $76,095.96, a P/E ratio of 13.16, a PEG ratio of 1.29 and a beta of 0.89. The company has a current ratio of 1.05, a quick ratio of 0.55 and a debt-to-equity ratio of 0.67.
CVS Health (NYSE:CVS) last announced its quarterly earnings data on Monday, November 6th. The pharmacy operator reported $1.50 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.49 by $0.01. CVS Health had a return on equity of 16.96% and a net margin of 2.77%. The company had revenue of $46.18 billion for the quarter, compared to analyst estimates of $46.17 billion. During the same quarter last year, the firm earned $1.64 EPS. CVS Health’s revenue for the quarter was up 3.5% compared to the same quarter last year. research analysts expect that CVS Health Corp will post 5.9 earnings per share for the current fiscal year.
A number of analysts have issued reports on CVS shares. Needham & Company LLC reaffirmed a “hold” rating on shares of CVS Health in a report on Sunday, September 10th. Oppenheimer reaffirmed a “buy” rating and issued a $95.00 target price on shares of CVS Health in a report on Monday, October 9th. Leerink Swann reaffirmed an “outperform” rating and issued a $85.00 target price (down previously from $90.00) on shares of CVS Health in a report on Tuesday, November 7th. BidaskClub lowered CVS Health from a “hold” rating to a “sell” rating in a report on Friday, August 25th. Finally, SunTrust Banks set a $85.00 target price on CVS Health and gave the company a “buy” rating in a report on Thursday, October 12th. One analyst has rated the stock with a sell rating, seven have issued a hold rating and fifteen have issued a buy rating to the company. The stock currently has a consensus rating of “Buy” and an average target price of $86.24.
In related news, COO Jonathan C. Roberts sold 85,743 shares of the firm’s stock in a transaction that occurred on Monday, September 18th. The stock was sold at an average price of $83.14, for a total transaction of $7,128,673.02. Following the completion of the transaction, 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 through this link. Also, EVP Thomas M. Moriarty sold 90,267 shares of the firm’s stock in a transaction that occurred on Monday, September 11th. The stock was sold at an average price of $79.61, for a total value of $7,186,155.87. Following the transaction, the executive vice president now owns 70,102 shares of the company’s stock, valued at approximately $5,580,820.22. The disclosure for this sale can be found here. Insiders have sold a total of 714,125 shares of company stock valued at $58,119,381 in the last 90 days. 0.61% of the stock is owned by corporate insiders.
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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