Chesapeake Wealth Management acquired a new position in CVS Health Corp (NYSE:CVS) during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 8,433 shares of the pharmacy operator’s stock, valued at approximately $525,000.
Other hedge funds also recently modified their holdings of the company. Quantbot Technologies LP acquired a new position in shares of CVS Health in the 1st quarter worth approximately $103,000. Wagner Wealth Management LLC acquired a new position in shares of CVS Health in the 4th quarter worth approximately $114,000. Avestar Capital LLC acquired a new position in shares of CVS Health in the 4th quarter worth approximately $122,000. Bedel Financial Consulting Inc. acquired a new position in shares of CVS Health in the 1st quarter worth approximately $125,000. Finally, Focused Wealth Management Inc lifted its holdings in shares of CVS Health by 90.5% in the 4th quarter. Focused Wealth Management Inc now owns 1,781 shares of the pharmacy operator’s stock worth $129,000 after acquiring an additional 846 shares during the last quarter. Hedge funds and other institutional investors own 83.18% of the company’s stock.
In other news, Director C David Brown II acquired 10,000 shares of CVS Health stock in a transaction dated Friday, May 4th. The shares were acquired at an average cost of $61.99 per share, for a total transaction of $619,900.00. Following the acquisition, the director now owns 101,252 shares of the company’s stock, valued at $6,276,611.48. The acquisition was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 0.53% of the stock is currently owned by company insiders.
A number of equities research analysts have issued reports on CVS shares. ValuEngine lowered shares of CVS Health from a “hold” rating to a “sell” rating in a report on Wednesday, May 2nd. Mizuho set a $95.00 target price on shares of CVS Health and gave the stock a “buy” rating in a report on Wednesday, June 13th. Royal Bank of Canada reduced their target price on shares of CVS Health to $84.00 and set an “outperform” rating on the stock in a report on Friday. Bank of America reduced their target price on shares of CVS Health from $91.00 to $88.00 and set a “buy” rating on the stock in a report on Wednesday, April 11th. Finally, Leerink Swann set a $85.00 target price on shares of CVS Health and gave the stock a “buy” rating in a report on Tuesday, April 10th. Three research analysts have rated the stock with a sell rating, six have issued a hold rating, eleven have assigned a buy rating and two have assigned a strong buy rating to the company. The company has a consensus rating of “Buy” and a consensus price target of $85.98.
Shares of CVS opened at $64.35 on Friday. CVS Health Corp has a twelve month low of $60.14 and a twelve month high of $84.00. The firm has a market capitalization of $71.22 billion, a PE ratio of 10.91, a PEG ratio of 0.97 and a beta of 1.00. The company has a current ratio of 2.37, a quick ratio of 1.88 and a debt-to-equity ratio of 1.59.
CVS Health (NYSE:CVS) last announced its quarterly earnings data on Wednesday, May 2nd. The pharmacy operator reported $1.48 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.39 by $0.09. CVS Health had a net margin of 3.59% and a return on equity of 17.45%. The business had revenue of $45.69 billion for the quarter, compared to analyst estimates of $45.77 billion. During the same period last year, the business earned $1.17 EPS. The company’s revenue was up 2.6% on a year-over-year basis. equities analysts expect that CVS Health Corp will post 6.98 EPS for the current year.
About CVS Health
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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