Princeton Portfolio Strategies Group LLC decreased its stake in CVS Health Corp (NYSE:CVS) by 74.3% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 4,896 shares of the pharmacy operator’s stock after selling 14,159 shares during the period. Princeton Portfolio Strategies Group LLC’s holdings in CVS Health were worth $305,000 at the end of the most recent quarter.
A number of other large investors also recently modified their holdings of the stock. USS Investment Management Ltd raised its stake in shares of CVS Health by 35.4% during the fourth quarter. USS Investment Management Ltd now owns 326,500 shares of the pharmacy operator’s stock valued at $23,689,000 after acquiring an additional 85,300 shares during the last quarter. Convergence Investment Partners LLC raised its stake in shares of CVS Health by 31.9% during the fourth quarter. Convergence Investment Partners LLC now owns 67,200 shares of the pharmacy operator’s stock valued at $4,872,000 after acquiring an additional 16,238 shares during the last quarter. Wasatch Advisors Inc. raised its stake in shares of CVS Health by 78.5% during the fourth quarter. Wasatch Advisors Inc. now owns 152,422 shares of the pharmacy operator’s stock valued at $11,051,000 after acquiring an additional 67,022 shares during the last quarter. E&G Advisors LP raised its stake in shares of CVS Health by 30.9% during the fourth quarter. E&G Advisors LP now owns 6,771 shares of the pharmacy operator’s stock valued at $491,000 after acquiring an additional 1,600 shares during the last quarter. Finally, National Pension Service raised its stake in shares of CVS Health by 1.5% during the fourth quarter. National Pension Service now owns 850,361 shares of the pharmacy operator’s stock valued at $61,651,000 after acquiring an additional 12,886 shares during the last quarter. 83.16% of the stock is owned by institutional investors and hedge funds.
NYSE:CVS opened at $71.08 on Friday. The company has a quick ratio of 1.88, a current ratio of 2.37 and a debt-to-equity ratio of 1.59. The firm has a market capitalization of $72.79 billion, a price-to-earnings ratio of 12.05, a P/E/G ratio of 1.00 and a beta of 1.00. CVS Health Corp has a 12 month low of $60.14 and a 12 month high of $84.00.
CVS Health (NYSE:CVS) last posted its quarterly earnings results on Wednesday, May 2nd. The pharmacy operator reported $1.48 EPS for the quarter, topping analysts’ consensus estimates of $1.39 by $0.09. The business had revenue of $45.69 billion during the quarter, compared to analysts’ expectations of $45.77 billion. CVS Health had a net margin of 3.59% and a return on equity of 17.45%. The business’s quarterly revenue was up 2.6% on a year-over-year basis. During the same period last year, the company posted $1.17 earnings per share. research analysts anticipate that CVS Health Corp will post 6.98 EPS for the current year.
Several research firms have recently issued reports on CVS. Bank of America began coverage on shares of CVS Health in a research note on Tuesday, February 27th. They set a “buy” rating and a $91.00 price target for the company. ValuEngine downgraded shares of CVS Health from a “hold” rating to a “sell” rating in a research note on Wednesday, May 2nd. Mizuho set a $95.00 price objective on shares of CVS Health and gave the stock a “buy” rating in a research report on Wednesday, June 13th. Leerink Swann set a $85.00 price objective on shares of CVS Health and gave the stock a “buy” rating in a research report on Tuesday, April 10th. Finally, Loop Capital set a $68.00 price objective on shares of CVS Health and gave the stock a “hold” rating in a research report on Monday, May 7th. Three research analysts have rated the stock with a sell rating, six have given a hold rating, eleven have assigned a buy rating and two have assigned a strong buy rating to the stock. CVS Health has an average rating of “Buy” and an average target price of $86.27.
In related news, Director C David Brown II purchased 10,000 shares of CVS Health stock in a transaction on Friday, May 4th. The stock was acquired at an average cost of $61.99 per share, for a total transaction of $619,900.00. Following the completion of the acquisition, the director now owns 101,252 shares of the company’s stock, valued at approximately $6,276,611.48. The purchase was disclosed in a filing with the SEC, which is available at this hyperlink. Company insiders own 0.53% of the company’s stock.
CVS Health Profile
CVS Health Corporation, together with its subsidiaries, provides integrated pharmacy health care services. It operates through Pharmacy Services and Retail/LTC segments. The Pharmacy Services segment offers pharmacy benefit management solutions, such as plan design and administration, formulary management, Medicare Part D services, mail order, specialty pharmacy and infusion services, retail pharmacy network management services, prescription management systems, clinical services, disease management programs, and medical pharmacy management services.
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