RMB Capital Management LLC reduced its stake in shares of CVS Health Corp (NYSE:CVS) by 27.0% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 6,809 shares of the pharmacy operator’s stock after selling 2,518 shares during the quarter. RMB Capital Management LLC’s holdings in CVS Health were worth $423,000 at the end of the most recent reporting period.
A number of other hedge funds also recently made changes to their positions in CVS. Commonwealth Equity Services LLC boosted its stake in shares of CVS Health by 2.8% in the first quarter. Commonwealth Equity Services LLC now owns 371,797 shares of the pharmacy operator’s stock worth $23,129,000 after acquiring an additional 10,039 shares during the last quarter. Premia Global Advisors LLC boosted its stake in CVS Health by 1,230.0% during the first quarter. Premia Global Advisors LLC now owns 4,349 shares of the pharmacy operator’s stock worth $268,000 after buying an additional 4,022 shares during the last quarter. Clinton Group Inc. acquired a new position in CVS Health during the first quarter worth $3,515,000. Crestwood Advisors Group LLC boosted its stake in CVS Health by 17.9% during the first quarter. Crestwood Advisors Group LLC now owns 234,039 shares of the pharmacy operator’s stock worth $14,560,000 after buying an additional 35,606 shares during the last quarter. Finally, Impax Asset Management LLC boosted its stake in CVS Health by 16.1% during the first quarter. Impax Asset Management LLC now owns 10,896 shares of the pharmacy operator’s stock worth $678,000 after buying an additional 1,513 shares during the last quarter. Institutional investors own 83.16% of the company’s stock.
Shares of NYSE:CVS opened at $71.60 on Thursday. The firm has a market capitalization of $71.95 billion, a P/E ratio of 12.14, a price-to-earnings-growth ratio of 0.98 and a beta of 1.00. CVS Health Corp has a 1 year low of $60.14 and a 1 year high of $84.00. The company has a debt-to-equity ratio of 1.59, a current ratio of 2.37 and a quick ratio of 1.88.
CVS Health (NYSE:CVS) last posted its quarterly earnings results on Wednesday, May 2nd. The pharmacy operator reported $1.48 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.39 by $0.09. The firm had revenue of $45.69 billion during the quarter, compared to analyst estimates of $45.77 billion. CVS Health had a net margin of 3.59% and a return on equity of 17.45%. The company’s quarterly revenue was up 2.6% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.17 earnings per share. equities analysts anticipate that CVS Health Corp will post 6.98 EPS for the current year.
In related news, Director C David Brown II acquired 10,000 shares of the company’s stock in a transaction that occurred on 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 completion of the acquisition, the director now directly owns 101,252 shares in the company, valued at approximately $6,276,611.48. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.53% of the stock is currently owned by company insiders.
CVS has been the topic of several recent analyst reports. Mizuho set a $95.00 price target on CVS Health and gave the company a “buy” rating in a research note on Wednesday, June 13th. Bank of America cut their price objective on CVS Health from $91.00 to $88.00 and set a “buy” rating on the stock in a report on Wednesday, April 11th. Leerink Swann set a $85.00 price objective on CVS Health and gave the company a “buy” rating in a report on Tuesday, April 10th. Loop Capital set a $68.00 price objective on CVS Health and gave the company a “hold” rating in a report on Monday, May 7th. Finally, ValuEngine downgraded CVS Health from a “hold” rating to a “sell” rating in a report on Wednesday, May 2nd. Three equities research analysts have rated the stock with a sell rating, six have assigned a hold rating, eleven have issued a buy rating and two have given a strong buy rating to the stock. The company has a consensus rating of “Buy” and an average price target of $86.27.
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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