Wealth Enhancement Advisory Services LLC Has $883,000 Position in CVS Health Corp (CVS)
Wealth Enhancement Advisory Services LLC lowered its holdings in CVS Health Corp (NYSE:CVS) by 70.2% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 11,484 shares of the pharmacy operator’s stock after selling 27,064 shares during the period. Wealth Enhancement Advisory Services LLC’s holdings in CVS Health were worth $883,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other institutional investors have also added to or reduced their stakes in the stock. Tandem Investment Advisors Inc. acquired a new stake in CVS Health in the third quarter valued at $7,189,000. Pensionfund Sabic acquired a new stake in shares of CVS Health during the 3rd quarter worth about $2,789,000. Fulton Bank N.A. lifted its stake in shares of CVS Health by 5.8% during the 3rd quarter. Fulton Bank N.A. now owns 31,413 shares of the pharmacy operator’s stock worth $2,555,000 after buying an additional 1,717 shares during the last quarter. Pensionfund DSM Netherlands acquired a new stake in shares of CVS Health during the 3rd quarter worth about $5,042,000. Finally, Beacon Financial Group lifted its stake in shares of CVS Health by 2.2% during the 3rd quarter. Beacon Financial Group now owns 64,180 shares of the pharmacy operator’s stock worth $5,219,000 after buying an additional 1,405 shares during the last quarter. 82.24% of the stock is owned by institutional investors and hedge funds.
CVS Health Corp (NYSE:CVS) opened at $73.08 on Friday. CVS Health Corp has a 1 year low of $66.45 and a 1 year high of $84.72. The company has a market cap of $74,029.46, a PE ratio of 12.80, a P/E/G ratio of 1.37 and a beta of 0.89. 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 results on Monday, November 6th. The pharmacy operator reported $1.50 EPS for the quarter, topping analysts’ consensus estimates of $1.49 by $0.01. CVS Health had a net margin of 2.77% and a return on equity of 16.96%. The business had revenue of $46.18 billion for the quarter, compared to analyst estimates of $46.17 billion. During the same period last year, the firm earned $1.64 earnings per share. CVS Health’s revenue for the quarter was up 3.5% compared to the same quarter last year. analysts anticipate that CVS Health Corp will post 5.9 EPS for the current year.
In related news, EVP Thomas M. Moriarty sold 20,547 shares of the firm’s stock in a transaction dated Monday, October 2nd. The shares were sold at an average price of $81.17, for a total transaction of $1,667,799.99. Following the transaction, the executive vice president now directly owns 43,178 shares of the company’s stock, valued at $3,504,758.26. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, COO Jonathan C. Roberts sold 85,743 shares of the firm’s stock in a transaction dated 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 transaction, the chief operating officer now directly owns 119,555 shares in the company, valued at $9,939,802.70. The disclosure for this sale can be found here. 0.61% of the stock is currently owned by company insiders.
A number of analysts have recently issued reports on the stock. Loop Capital cut their target price on shares of CVS Health from $83.00 to $73.00 and set a “hold” rating for the company in a research note on Tuesday, November 7th. Needham & Company LLC raised their target price on shares of CVS Health from $79.00 to $85.00 and gave the stock a “buy” rating in a research note on Monday, December 4th. Jefferies Group cut their target price on shares of CVS Health from $86.00 to $76.00 and set a “hold” rating for the company in a research note on Tuesday, November 7th. Deutsche Bank assumed coverage on shares of CVS Health in a research note on Monday, December 4th. They set a “buy” rating and a $90.00 target price for the company. Finally, Raymond James Financial restated a “buy” rating on shares of CVS Health in a research note on Monday, December 4th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and fifteen have issued a buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus target price of $86.35.
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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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