Gs Investments Inc. acquired a new stake in shares of CVS Health Corp (NYSE:CVS) in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 19,505 shares of the pharmacy operator’s stock, valued at approximately $1,569,000. CVS Health comprises approximately 1.2% of Gs Investments Inc.’s holdings, making the stock its 29th biggest position.
Several other hedge funds and other institutional investors have also modified their holdings of the company. Jackson Grant Investment Advisers Inc. raised its position in CVS Health by 0.6% in the second quarter. Jackson Grant Investment Advisers Inc. now owns 2,881 shares of the pharmacy operator’s stock worth $232,000 after acquiring an additional 18 shares during the period. Elefante Mark B raised its position in CVS Health by 0.7% in the second quarter. Elefante Mark B now owns 6,400 shares of the pharmacy operator’s stock worth $515,000 after acquiring an additional 45 shares during the period. Traynor Capital Management Inc. raised its position in CVS Health by 1.3% in the second quarter. Traynor Capital Management Inc. now owns 3,676 shares of the pharmacy operator’s stock worth $290,000 after acquiring an additional 48 shares during the period. Sequoia Financial Advisors LLC raised its position in CVS Health by 0.8% in the second quarter. Sequoia Financial Advisors LLC now owns 6,406 shares of the pharmacy operator’s stock worth $515,000 after acquiring an additional 53 shares during the period. Finally, Brookstone Capital Management raised its position in CVS Health by 1.8% in the second quarter. Brookstone Capital Management now owns 3,153 shares of the pharmacy operator’s stock worth $254,000 after acquiring an additional 55 shares during the period. Hedge funds and other institutional investors own 82.24% of the company’s stock.
In related news, EVP Thomas M. Moriarty sold 20,547 shares of the 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 transaction, the executive vice president now directly owns 43,178 shares in the company, valued at approximately $3,504,758.26. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, COO Jonathan C. Roberts sold 85,743 shares of the 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 completion of the transaction, the chief operating officer now owns 119,555 shares of the company’s stock, valued at $9,939,802.70. The disclosure for this sale can be found here. 0.61% of the stock is currently owned by corporate insiders.
Several analysts have commented on CVS shares. Robert W. Baird reaffirmed a “hold” rating and issued a $77.00 price objective on shares of CVS Health in a research report on Friday, October 27th. Needham & Company LLC raised shares of CVS Health from a “hold” rating to a “buy” rating and boosted their price target for the company from $69.02 to $79.00 in a research report on Friday, November 10th. Mizuho set a $90.00 price target on shares of CVS Health and gave the company a “buy” rating in a research report on Tuesday, October 24th. BidaskClub lowered shares of CVS Health from a “hold” rating to a “sell” rating in a research report on Friday, August 25th. Finally, Loop Capital started coverage on shares of CVS Health in a research report on Thursday, August 24th. They issued a “hold” rating and a $83.00 price target on the stock. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and fifteen have issued a buy rating to the stock. CVS Health has a consensus rating of “Buy” and a consensus price target of $86.35.
Shares of CVS Health Corp (CVS) opened at $70.80 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 current ratio of 1.05, a quick ratio of 0.55 and a debt-to-equity ratio of 0.67. The company has a market cap of $72,550.49, a price-to-earnings ratio of 12.54, a P/E/G ratio of 1.34 and a beta of 0.89.
CVS Health (NYSE:CVS) last posted its quarterly earnings results on Monday, November 6th. The pharmacy operator reported $1.50 EPS for the quarter, beating the Zacks’ 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 during the quarter, compared to analyst estimates of $46.17 billion. During the same period in the prior year, the business posted $1.64 EPS. The firm’s revenue was up 3.5% compared to the same quarter last year. equities analysts anticipate that CVS Health Corp will post 5.9 earnings per share for the current fiscal year.
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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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