Scotia Capital Inc. decreased its position in CVS Health Corp (NYSE:CVS) by 7.1% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 422,715 shares of the pharmacy operator’s stock after selling 32,147 shares during the quarter. Scotia Capital Inc.’s holdings in CVS Health were worth $23,035,000 at the end of the most recent reporting period.
A number of other large investors have also recently added to or reduced their stakes in CVS. Geode Capital Management LLC lifted its position in shares of CVS Health by 36.2% in the fourth quarter. Geode Capital Management LLC now owns 16,462,292 shares of the pharmacy operator’s stock worth $1,076,697,000 after purchasing an additional 4,376,604 shares in the last quarter. Ellis Investment Partners LLC increased its stake in shares of CVS Health by 5,752.4% during the 1st quarter. Ellis Investment Partners LLC now owns 1,858,328 shares of the pharmacy operator’s stock worth $1,858,000 after purchasing an additional 1,826,575 shares during the last quarter. Parametric Portfolio Associates LLC increased its stake in shares of CVS Health by 19.7% during the 2nd quarter. Parametric Portfolio Associates LLC now owns 5,150,680 shares of the pharmacy operator’s stock worth $280,661,000 after purchasing an additional 847,460 shares during the last quarter. RNC Capital Management LLC bought a new stake in shares of CVS Health in the 1st quarter valued at about $42,243,000. Finally, Poplar Forest Capital LLC bought a new stake in CVS Health in the second quarter valued at approximately $35,405,000. 76.06% of the stock is owned by hedge funds and other institutional investors.
CVS Health stock traded up $0.38 during trading hours on Wednesday, reaching $63.98. 269,590 shares of the stock were exchanged, compared to its average volume of 7,591,594. The company has a current ratio of 0.95, a quick ratio of 0.64 and a debt-to-equity ratio of 1.39. CVS Health Corp has a twelve month low of $51.72 and a twelve month high of $82.15. The company has a market cap of $82.82 billion, a P/E ratio of 9.03, a price-to-earnings-growth ratio of 1.39 and a beta of 0.85. The stock has a 50 day moving average of $59.11 and a two-hundred day moving average of $55.84.
CVS Health (NYSE:CVS) last issued its quarterly earnings results on Wednesday, August 7th. The pharmacy operator reported $1.89 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.70 by $0.19. The company had revenue of $63.43 billion during the quarter, compared to the consensus estimate of $62.66 billion. CVS Health had a net margin of 1.91% and a return on equity of 16.15%. The firm’s quarterly revenue was up 35.2% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.69 EPS. On average, analysts expect that CVS Health Corp will post 6.96 earnings per share for the current fiscal year.
Several brokerages have recently commented on CVS. Evercore ISI set a $63.00 target price on CVS Health and gave the stock a “buy” rating in a research note on Wednesday, August 7th. Mizuho set a $71.00 price target on CVS Health and gave the company a “buy” rating in a report on Wednesday, June 5th. Standpoint Research raised shares of CVS Health from a “hold” rating to a “buy” rating in a research report on Wednesday, June 5th. Morgan Stanley reiterated a “buy” rating and issued a $74.00 price objective on shares of CVS Health in a report on Sunday, August 11th. Finally, Cowen reissued an “outperform” rating and issued a $76.00 price objective (up from $69.00) on shares of CVS Health in a research report on Tuesday, August 27th. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating, seventeen have given a buy rating and one has given a strong buy rating to the company. CVS Health has an average rating of “Buy” and an average target price of $75.18.
CVS Health Profile
CVS Health Corporation provides health services and plans in the United States. Its Pharmacy Services segment offers pharmacy benefit management solutions, such as plan design and administration, formulary management, retail pharmacy network management, mail order pharmacy, specialty pharmacy and infusion, Medicare Part D, clinical, disease management, and medical spend management services.
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