Garner Asset Management Corp purchased a new stake in CVS Health Corp (NYSE:CVS) in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 9,479 shares of the pharmacy operator’s stock, valued at approximately $763,000.
A number of other hedge funds and other institutional investors have also made changes to their positions in CVS. TB Alternative Assets Ltd. acquired a new position in CVS Health in the 2nd quarter valued at approximately $121,000. Gemmer Asset Management LLC increased its position in CVS Health by 15.3% in the 2nd quarter. Gemmer Asset Management LLC now owns 1,509 shares of the pharmacy operator’s stock valued at $121,000 after acquiring an additional 200 shares during the period. Captrust Financial Advisors acquired a new position in CVS Health in the 2nd quarter valued at approximately $155,000. Grace & White Inc. NY acquired a new position in CVS Health in the 2nd quarter valued at approximately $199,000. Finally, Nadler Financial Group Inc. acquired a new position in CVS Health in the 2nd quarter valued at approximately $202,000. Hedge funds and other institutional investors own 82.24% of the company’s stock.
In related news, insider Larry J. Merlo sold 241,150 shares of the stock in a transaction on Wednesday, September 13th. The shares were sold at an average price of $83.07, for a total transaction of $20,032,330.50. Following the transaction, the insider now directly owns 299,255 shares of the company’s stock, valued at $24,859,112.85. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, EVP Thomas M. Moriarty sold 20,547 shares of the firm’s stock in a transaction on 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 completion of the transaction, the executive vice president now directly owns 43,178 shares in the company, valued at $3,504,758.26. The disclosure for this sale can be found here. Over the last three months, insiders have sold 386,780 shares of company stock worth $32,049,963. 0.61% of the stock is owned by insiders.
Several brokerages have issued reports on CVS. Jefferies Group set a $76.00 price target on shares of CVS Health and gave the company a “hold” rating in a research report on Monday, December 4th. Needham & Company LLC upped their price target on shares of CVS Health from $79.00 to $85.00 and gave the company a “buy” rating in a research report on Monday, December 4th. Loop Capital set a $73.00 price target on shares of CVS Health and gave the company a “hold” rating in a research report on Monday, December 4th. Robert W. Baird set a $77.00 price objective on shares of CVS Health and gave the stock a “hold” rating in a research report on Monday, December 4th. Finally, Citigroup decreased their price objective on shares of CVS Health from $88.00 to $87.00 and set a “neutral” rating for the company in a research report on Thursday, August 17th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and fifteen have assigned a buy rating to the company. The company has an average rating of “Buy” and a consensus target price of $86.35.
CVS Health Corp (NYSE CVS) opened at $73.16 on Monday. The stock has a market cap of $74,039.58, a price-to-earnings ratio of 12.80, a P/E/G ratio of 1.37 and a beta of 0.89. CVS Health Corp has a 12 month low of $66.45 and a 12 month 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 issued its earnings results on Monday, November 6th. The pharmacy operator reported $1.50 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.49 by $0.01. The business had revenue of $46.18 billion for the quarter, compared to analyst estimates of $46.17 billion. CVS Health had a net margin of 2.77% and a return on equity of 16.96%. CVS Health’s revenue was up 3.5% on a year-over-year basis. During the same period in the prior year, the firm earned $1.64 earnings per share. analysts predict that CVS Health Corp will post 5.9 EPS for the current 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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