Bridges Investment Management Inc. trimmed its position in shares of CVS Health Corp (NYSE:CVS) by 5.5% during the second quarter, Holdings Channel reports. The fund owned 23,698 shares of the pharmacy operator’s stock after selling 1,380 shares during the quarter. Bridges Investment Management Inc.’s holdings in CVS Health were worth $1,525,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also recently bought and sold shares of CVS. Adviser Investments LLC boosted its holdings in shares of CVS Health by 43.3% in the 2nd quarter. Adviser Investments LLC now owns 2,993 shares of the pharmacy operator’s stock worth $193,000 after buying an additional 905 shares during the last quarter. Keystone Financial Planning Inc. boosted its holdings in shares of CVS Health by 44.5% in the 2nd quarter. Keystone Financial Planning Inc. now owns 59,038 shares of the pharmacy operator’s stock worth $3,799,000 after buying an additional 18,176 shares during the last quarter. Schwab Charles Investment Management Inc. boosted its holdings in shares of CVS Health by 4.3% in the 2nd quarter. Schwab Charles Investment Management Inc. now owns 7,332,665 shares of the pharmacy operator’s stock worth $471,857,000 after buying an additional 300,887 shares during the last quarter. ICM Asset Management Inc. WA purchased a new position in shares of CVS Health in the 2nd quarter worth about $1,152,000. Finally, Point View Wealth Management Inc. boosted its holdings in shares of CVS Health by 8.4% in the 2nd quarter. Point View Wealth Management Inc. now owns 17,095 shares of the pharmacy operator’s stock worth $1,100,000 after buying an additional 1,320 shares during the last quarter. 83.57% of the stock is currently owned by hedge funds and other institutional investors.
In other news, EVP Kevin Hourican sold 8,564 shares of the company’s stock in a transaction dated Monday, August 27th. The stock was sold at an average price of $75.00, for a total transaction of $642,300.00. Following the sale, the executive vice president now directly owns 12,135 shares in the company, valued at $910,125. The sale was disclosed in a document filed with the SEC, which is available at this link. Corporate insiders own 0.53% of the company’s stock.
A number of equities research analysts recently issued reports on the company. ValuEngine upgraded CVS Health from a “strong sell” rating to a “sell” rating in a research note on Monday, September 10th. Leerink Swann set a $80.00 price objective on CVS Health and gave the company an “outperform” rating in a research note on Thursday, August 9th. Royal Bank of Canada restated a “buy” rating and issued a $90.00 price objective on shares of CVS Health in a research note on Wednesday, August 8th. Citigroup restated a “buy” rating and issued a $81.00 price objective on shares of CVS Health in a research note on Monday, July 9th. Finally, Morgan Stanley lowered their price objective on CVS Health from $88.00 to $80.00 and set an “overweight” rating on the stock in a research note on Tuesday, July 3rd. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating, eleven have issued a buy rating and two have given a strong buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus price target of $86.04.
Shares of CVS opened at $78.10 on Tuesday. CVS Health Corp has a twelve month low of $60.14 and a twelve month high of $84.00. The stock has a market cap of $78.72 billion, a PE ratio of 13.24, a P/E/G ratio of 1.04 and a beta of 1.01. The company has a current ratio of 2.34, a quick ratio of 1.87 and a debt-to-equity ratio of 1.73.
CVS Health (NYSE:CVS) last announced its quarterly earnings results on Wednesday, August 8th. The pharmacy operator reported $1.69 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.61 by $0.08. CVS Health had a return on equity of 18.25% and a net margin of 1.61%. The firm had revenue of $46.71 billion for the quarter, compared to analysts’ expectations of $46.34 billion. During the same period in the prior year, the business posted $1.33 earnings per share. The company’s revenue was up 2.2% on a year-over-year basis. sell-side analysts predict that CVS Health Corp will post 7.05 earnings per share for the current fiscal year.
CVS Health Company 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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