Cardinal Capital Management Inc. increased its stake in shares of CVS Health Corp (NYSE:CVS) by 9.9% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 211,260 shares of the pharmacy operator’s stock after buying an additional 18,990 shares during the quarter. CVS Health comprises approximately 1.3% of Cardinal Capital Management Inc.’s investment portfolio, making the stock its 27th biggest holding. Cardinal Capital Management Inc.’s holdings in CVS Health were worth $13,595,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds also recently made changes to their positions in CVS. Quantbot Technologies LP purchased a new stake in CVS Health in the first quarter valued at $103,000. Wagner Wealth Management LLC purchased a new stake in CVS Health in the fourth quarter valued at $114,000. Avestar Capital LLC purchased a new stake in CVS Health in the fourth quarter valued at $122,000. Bedel Financial Consulting Inc. purchased a new stake in CVS Health in the first quarter valued at $125,000. Finally, Focused Wealth Management Inc boosted its holdings in CVS Health by 90.5% in the fourth quarter. Focused Wealth Management Inc now owns 1,781 shares of the pharmacy operator’s stock valued at $129,000 after purchasing an additional 846 shares during the last quarter. 83.19% of the stock is currently owned by hedge funds and other institutional investors.
In related news, Director C David Brown II purchased 10,000 shares of CVS Health stock in a transaction that occurred on Friday, May 4th. The stock was purchased at an average price of $61.99 per share, for a total transaction of $619,900.00. Following the transaction, the director now directly owns 101,252 shares in the company, valued at $6,276,611.48. The acquisition was disclosed in a document filed with the SEC, which is available at this link. 0.53% of the stock is owned by corporate insiders.
Shares of CVS stock traded up $0.58 during mid-day trading on Thursday, hitting $65.08. 366,341 shares of the stock were exchanged, compared to its average volume of 9,091,489. The company has a quick ratio of 1.88, a current ratio of 2.37 and a debt-to-equity ratio of 1.59. CVS Health Corp has a 52-week low of $60.14 and a 52-week high of $84.00. The firm has a market cap of $65.57 billion, a P/E ratio of 11.03, a PEG ratio of 0.90 and a beta of 1.00.
CVS Health (NYSE:CVS) last released its quarterly earnings results on Wednesday, May 2nd. The pharmacy operator reported $1.48 earnings per share for the quarter, topping the 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 firm had revenue of $45.69 billion during the quarter, compared to the consensus estimate of $45.77 billion. During the same quarter in the prior year, the firm earned $1.17 EPS. The company’s revenue for the quarter was up 2.6% on a year-over-year basis. analysts anticipate that CVS Health Corp will post 6.99 earnings per share for the current fiscal year.
Several equities research analysts have commented on the stock. ValuEngine lowered shares of CVS Health from a “sell” rating to a “strong sell” rating in a report on Tuesday, May 8th. Leerink Swann set a $85.00 price target on shares of CVS Health and gave the company a “buy” rating in a report on Tuesday, April 10th. Morgan Stanley lowered their price target on shares of CVS Health from $88.00 to $80.00 and set an “overweight” rating on the stock in a report on Tuesday. Mizuho reaffirmed a “buy” rating on shares of CVS Health in a report on Saturday, June 30th. Finally, Royal Bank of Canada lowered their price target on shares of CVS Health to $84.00 and set an “outperform” rating on the stock in a report on Friday, June 29th. Three equities research analysts have rated the stock with a sell rating, six have issued a hold rating, ten have given a buy rating and two have issued a strong buy rating to the company. CVS Health currently has a consensus rating of “Buy” and a consensus price target of $85.51.
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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